KVM BELGIUM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KVM BELGIUM
Largest movements
- Receivables after one year -€53,160
down €53,160 (-13.5%), from €393,660 to €340,500
- Tangible fixed assets -€13,374
down €13,374 (-3.2%), from €422,250 to €408,876
of which Land and buildings: -€18,983
- Debts after one year -€30,929
down €30,929 (-13.4%), from €231,046 to €200,118
- Current portion of long-term debt -€29,397
down €29,397 (-48.7%), from €60,326 to €30,929
- Profit (loss) carried forward +€12,997
up €12,997 (+3.5%), from €368,062 to €381,059
- Taxes -€19,840
down €19,840, from €15,129 to -€4,711
- Depreciation +€8,881
up €8,881 (+40.4%), from €21,985 to €30,866
- Gross operating margin -€6,105
down €6,105 (-21.3%), from €28,610 to €22,505
- Financial income -€3,410
down €3,410 (-12.6%), from €26,980 to €23,570
- Financial charges -€475
down €475 (-8.6%), from €5,517 to €5,042
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €831,024 | €771,287 | -€59,737 | -7.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €422,250 | €408,876 | -€13,374 | -3.2% |
| Tangible fixed assets | 22/27 | €422,250 | €408,876 | -€13,374 | -3.2% |
| Land and buildings | 22 | €422,046 | €403,063 | -€18,983 | -4.5% |
| Plant, machinery and equipment | 23 | - | €5,738 | +€5,738 | |
| Furniture and vehicles | 24 | €204 | €75 | -€129 | -63.1% |
| Current assets | 29/58 | €408,774 | €362,411 | -€46,363 | -11.3% |
| Amounts receivable after more than one year | 29 | €393,660 | €340,500 | -€53,160 | -13.5% |
| Other amounts receivable | 291 | €393,660 | €340,500 | -€53,160 | -13.5% |
| Amounts receivable within one year | 40/41 | €11,495 | €15,833 | +€4,338 | +37.7% |
| Trade receivables | 40 | €11,495 | €10,890 | -€605 | -5.3% |
| Other amounts receivable | 41 | €0 | €4,943 | +€4,943 | |
| Cash at bank and in hand | 54/58 | €3,619 | €6,078 | +€2,459 | +68.0% |
| Total equity and liabilities | 10/49 | €831,024 | €771,287 | -€59,737 | -7.2% |
| Equity | 10/15 | €485,738 | €498,735 | +€12,997 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,075 | €99,075 | = | 0.0% |
| Distributable reserves | 133 | €99,075 | €99,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | €368,062 | €381,059 | +€12,997 | +3.5% |
| Amounts payable | 17/49 | €345,286 | €272,552 | -€72,734 | -21.1% |
| Amounts payable after more than one year | 17 | €231,046 | €200,118 | -€30,929 | -13.4% |
| Financial debts | 170/4 | €231,046 | €200,118 | -€30,929 | -13.4% |
| Amounts payable within one year | 42/48 | €109,164 | €67,375 | -€41,789 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €60,326 | €30,929 | -€29,397 | -48.7% |
| Trade debts | 44 | €12,852 | €10,726 | -€2,126 | -16.5% |
| Suppliers | 440/4 | €12,852 | €10,726 | -€2,126 | -16.5% |
| Taxes, remuneration and social security | 45 | €5,265 | - | -€5,265 | |
| Taxes | 450/3 | €5,265 | - | -€5,265 | |
| Other amounts payable | 47/48 | €30,721 | €25,721 | -€5,000 | -16.3% |
| Accrued charges and deferred income | 492/3 | €5,075 | €5,059 | -€16 | -0.3% |
| Remuneration, social security and pensions | 62 | €384 | €387 | +€3 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,985 | €30,866 | +€8,881 | +40.4% |
| Other operating charges | 640/8 | €1,324 | €1,493 | +€170 | +12.8% |
| Gross operating margin | 9900 | €28,610 | €22,505 | -€6,105 | -21.3% |
| Operating profit (loss) | 9901 | €4,917 | -€10,242 | -€15,159 | |
| Financial income | 75/76B | €26,980 | €23,570 | -€3,410 | -12.6% |
| Recurring financial income | 75 | €26,980 | €23,570 | -€3,410 | -12.6% |
| Financial charges | 65/66B | €5,517 | €5,042 | -€475 | -8.6% |
| Recurring financial charges | 65 | €5,517 | €5,042 | -€475 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €26,380 | €8,286 | -€18,094 | -68.6% |
| Income taxes | 67/77 | €15,129 | -€4,711 | -€19,840 | |
| Profit (loss) for the period | 9904 | €11,251 | €12,997 | +€1,746 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,251 | €12,997 | +€1,746 | +15.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.