KVM Construct: 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 Construct
Largest movements
- Cash +€43,256
up €43,256 (+839%), from €5,153 to €48,409
mainly Net result for the year (+€46,326) and Receivables within one year (+€29,180)
- Receivables within one year -€29,180
down €29,180 (-68.5%), from €42,576 to €13,396
of which Other amounts receivable: -€30,390
- Tangible fixed assets -€6,873
down €6,873 (-78.2%), from €8,785 to €1,912
of which Furniture and vehicles: -€5,503
- Deferred charges and accrued income -€2,368
down €2,368 (-52.8%), from €4,486 to €2,118
- Other debts +€8,234
up €8,234, from €0 to €8,234
- Reserves -€3,876
down €3,876 (-7.7%), from €50,202 to €46,326
- Tax, wage and social debts -€906
down €906 (-9.2%), from €9,832 to €8,925
- Trade debts +€845
up €845 (+72.5%), from €1,165 to €2,010
- Gross operating margin -€4,026
down €4,026 (-5.6%), from €71,468 to €67,442
- Taxes -€1,741
down €1,741 (-9.2%), from €18,945 to €17,203
- Financial income -€1,255
down €1,255 (-68.6%), from €1,830 to €574
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 | €61,299 | €66,135 | +€4,836 | +7.9% |
| Fixed assets | 21/28 | €9,085 | €2,212 | -€6,873 | -75.7% |
| Tangible fixed assets | 22/27 | €8,785 | €1,912 | -€6,873 | -78.2% |
| Furniture and vehicles | 24 | €6,353 | €850 | -€5,503 | -86.6% |
| Other tangible fixed assets | 26 | €2,431 | €1,062 | -€1,369 | -56.3% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €52,214 | €63,923 | +€11,709 | +22.4% |
| Amounts receivable within one year | 40/41 | €42,576 | €13,396 | -€29,180 | -68.5% |
| Trade receivables | 40 | €12,100 | €13,310 | +€1,210 | +10.0% |
| Other amounts receivable | 41 | €30,476 | €86 | -€30,390 | -99.7% |
| Cash at bank and in hand | 54/58 | €5,153 | €48,409 | +€43,256 | +839% |
| Deferred charges and accrued income | 490/1 | €4,486 | €2,118 | -€2,368 | -52.8% |
| Total equity and liabilities | 10/49 | €61,299 | €66,135 | +€4,836 | +7.9% |
| Equity | 10/15 | €50,302 | €46,426 | -€3,876 | -7.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €50,202 | €46,326 | -€3,876 | -7.7% |
| Distributable reserves | 133 | €50,202 | €46,326 | -€3,876 | -7.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,997 | €19,709 | +€8,712 | +79.2% |
| Amounts payable within one year | 42/48 | €10,997 | €19,169 | +€8,173 | +74.3% |
| Trade debts | 44 | €1,165 | €2,010 | +€845 | +72.5% |
| Suppliers | 440/4 | €1,165 | €2,010 | +€845 | +72.5% |
| Taxes, remuneration and social security | 45 | €9,832 | €8,925 | -€906 | -9.2% |
| Taxes | 450/3 | €9,832 | €8,925 | -€906 | -9.2% |
| Other amounts payable | 47/48 | €0 | €8,234 | +€8,234 | |
| Accrued charges and deferred income | 492/3 | €0 | €539 | +€539 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,623 | €2,623 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,043 | €968 | -€75 | -7.2% |
| Gross operating margin | 9900 | €71,468 | €67,442 | -€4,026 | -5.6% |
| Operating profit (loss) | 9901 | €67,803 | €63,852 | -€3,951 | -5.8% |
| Financial income | 75/76B | €1,830 | €574 | -€1,255 | -68.6% |
| Recurring financial income | 75 | €1,830 | €574 | -€1,255 | -68.6% |
| Financial charges | 65/66B | €485 | €897 | +€412 | +84.8% |
| Recurring financial charges | 65 | €485 | €897 | +€412 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | €69,147 | €63,529 | -€5,618 | -8.1% |
| Income taxes | 67/77 | €18,945 | €17,203 | -€1,741 | -9.2% |
| Profit (loss) for the period | 9904 | €50,202 | €46,326 | -€3,876 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,202 | €46,326 | -€3,876 | -7.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.