KVMD-Group: 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.
KVMD-Group
Largest movements
- Receivables within one year +€30,570
up €30,570 (+112%), from €27,254 to €57,824
of which Trade receivables: +€30,880
- Cash +€10,574
up €10,574 (+29.7%), from €35,552 to €46,126
mainly Net result for the year (+€44,479) and Tax, wage and social debts (+€16,548)
- Reserves +€51,704
up €51,704 (+677%), from €7,639 to €59,343
of which Distributable reserves: +€53,564
- Profit (loss) carried forward -€37,225
no longer reported in 2025 (was €37,225)
- Tax, wage and social debts +€16,548
up €16,548 (+971%), from €1,705 to €18,253
of which Taxes: +€14,648
- Trade debts +€11,471
up €11,471 (+673%), from €1,705 to €13,176
- Accrued charges and deferred income -€2,574
down €2,574 (-64.1%), from €4,014 to €1,440
- Gross operating margin +€10,059
up €10,059 (+17.6%), from €57,180 to €67,239
- Taxes +€6,826
up €6,826 (+60.5%), from €11,275 to €18,101
- Financial charges +€1,756
up €1,756 (+187%), from €941 to €2,697
- Other operating charges -€1,349
down €1,349 (-73.6%), from €1,833 to €484
- Depreciation -€969
down €969 (-37.0%), from €2,619 to €1,650
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 | €70,888 | €110,812 | +€39,924 | +56.3% |
| Fixed assets | 21/28 | €5,088 | €4,744 | -€344 | -6.8% |
| Tangible fixed assets | 22/27 | €4,953 | €4,609 | -€344 | -6.9% |
| Land and buildings | 22 | €300 | €200 | -€100 | -33.3% |
| Plant, machinery and equipment | 23 | €1,327 | €848 | -€479 | -36.1% |
| Furniture and vehicles | 24 | €3,326 | €3,561 | +€235 | +7.1% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €65,800 | €106,068 | +€40,268 | +61.2% |
| Amounts receivable within one year | 40/41 | €27,254 | €57,824 | +€30,570 | +112% |
| Trade receivables | 40 | €15,204 | €46,084 | +€30,880 | +203% |
| Other amounts receivable | 41 | €12,050 | €11,740 | -€310 | -2.6% |
| Cash at bank and in hand | 54/58 | €35,552 | €46,126 | +€10,574 | +29.7% |
| Deferred charges and accrued income | 490/1 | €2,994 | €2,118 | -€876 | -29.3% |
| Total equity and liabilities | 10/49 | €70,888 | €110,812 | +€39,924 | +56.3% |
| Equity | 10/15 | €63,464 | €77,943 | +€14,479 | +22.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,639 | €59,343 | +€51,704 | +677% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €5,779 | €59,343 | +€53,564 | +927% |
| Profit (loss) carried forward | 14 | €37,225 | - | -€37,225 | |
| Amounts payable | 17/49 | €7,424 | €32,869 | +€25,445 | +343% |
| Amounts payable within one year | 42/48 | €3,410 | €31,429 | +€28,019 | +822% |
| Trade debts | 44 | €1,705 | €13,176 | +€11,471 | +673% |
| Suppliers | 440/4 | €1,705 | €13,176 | +€11,471 | +673% |
| Taxes, remuneration and social security | 45 | €1,705 | €18,253 | +€16,548 | +971% |
| Taxes | 450/3 | €1,705 | €16,353 | +€14,648 | +859% |
| Remuneration and social security | 454/9 | - | €1,900 | +€1,900 | |
| Accrued charges and deferred income | 492/3 | €4,014 | €1,440 | -€2,574 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,619 | €1,650 | -€969 | -37.0% |
| Other operating charges | 640/8 | €1,833 | €484 | -€1,349 | -73.6% |
| Gross operating margin | 9900 | €57,180 | €67,239 | +€10,059 | +17.6% |
| Operating profit (loss) | 9901 | €52,728 | €65,105 | +€12,377 | +23.5% |
| Financial income | 75/76B | - | €172 | +€172 | |
| Recurring financial income | 75 | - | €172 | +€172 | |
| Financial charges | 65/66B | €941 | €2,697 | +€1,756 | +187% |
| Recurring financial charges | 65 | €941 | €2,697 | +€1,756 | +187% |
| Profit (loss) for the period before taxes | 9903 | €51,787 | €62,580 | +€10,793 | +20.8% |
| Income taxes | 67/77 | €11,275 | €18,101 | +€6,826 | +60.5% |
| Profit (loss) for the period | 9904 | €40,512 | €44,479 | +€3,967 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,512 | €44,479 | +€3,967 | +9.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.