KVMS: what changed
Two fiscal 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.
KVMS
Largest movements
- Cash -€13,761
down €13,761 (-69.5%), from €19,813 to €6,052
mainly Investment in fixed assets (net) (-€16,510) and Other debts (-€2,719)
- Tangible fixed assets +€12,238
up €12,238 (+250.3%), from €4,890 to €17,128
- Receivables within one year +€1,621
up €1,621 (+4.2%), from €38,720 to €40,341
of which Other amounts receivable: +€4,041
- Current portion of long-term debt +€3,430
new in 2025: €3,430
- Debts after one year +€2,945
new in 2025: €2,945
- Other debts -€2,719
down €2,719 (-40.5%), from €6,716 to €3,997
- Trade debts -€2,644
down €2,644 (-71.1%), from €3,719 to €1,075
- Profit (loss) carried forward -€855
down €855, from €0 to -€855
- Gross operating margin -€18,331
down €18,331 (-71.4%), from €25,659 to €7,327
- Taxes -€5,429
down €5,429 (-85.0%), from €6,388 to €959
- Depreciation +€2,352
up €2,352 (+122.5%), from €1,920 to €4,272
- Other operating charges +€717
up €717 (+48.9%), from €1,468 to €2,185
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.
Cash bridge derived
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 | €66,443 | €66,365 | -€77 | -0.1% |
| Fixed assets | 21/28 | €4,890 | €17,128 | +€12,238 | +250.3% |
| Tangible fixed assets | 22/27 | €4,890 | €17,128 | +€12,238 | +250.3% |
| Furniture and vehicles | 24 | €4,890 | €17,128 | +€12,238 | +250.3% |
| Current assets | 29/58 | €61,553 | €49,238 | -€12,315 | -20.0% |
| Amounts receivable within one year | 40/41 | €38,720 | €40,341 | +€1,621 | +4.2% |
| Trade receivables | 40 | €38,720 | €36,300 | -€2,420 | -6.3% |
| Other amounts receivable | 41 | €0 | €4,041 | +€4,041 | |
| Cash at bank and in hand | 54/58 | €19,813 | €6,052 | -€13,761 | -69.5% |
| Deferred charges and accrued income | 490/1 | €3,020 | €2,845 | -€175 | -5.8% |
| Total equity and liabilities | 10/49 | €66,443 | €66,365 | -€77 | -0.1% |
| Equity | 10/15 | €46,494 | €45,639 | -€855 | -1.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €44,494 | €44,494 | = | 0.0% |
| Distributable reserves | 133 | €44,494 | €44,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€855 | -€855 | |
| Amounts payable | 17/49 | €19,949 | €20,727 | +€778 | +3.9% |
| Amounts payable after more than one year | 17 | - | €2,945 | +€2,945 | |
| Financial debts | 170/4 | - | €2,945 | +€2,945 | |
| Amounts payable within one year | 42/48 | €19,799 | €17,632 | -€2,167 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,430 | +€3,430 | |
| Trade debts | 44 | €3,719 | €1,075 | -€2,644 | -71.1% |
| Suppliers | 440/4 | €3,719 | €1,075 | -€2,644 | -71.1% |
| Taxes, remuneration and social security | 45 | €9,364 | €9,130 | -€234 | -2.5% |
| Taxes | 450/3 | €7,191 | €6,130 | -€1,061 | -14.8% |
| Remuneration and social security | 454/9 | €2,173 | €3,000 | +€827 | +38.1% |
| Other amounts payable | 47/48 | €6,716 | €3,997 | -€2,719 | -40.5% |
| Accrued charges and deferred income | 492/3 | €150 | €150 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,920 | €4,272 | +€2,352 | +122.5% |
| Other operating charges | 640/8 | €1,468 | €2,185 | +€717 | +48.9% |
| Gross operating margin | 9900 | €25,659 | €7,327 | -€18,331 | -71.4% |
| Operating profit (loss) | 9901 | €22,271 | €870 | -€21,401 | -96.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +8000.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +8000.0% |
| Financial charges | 65/66B | €613 | €767 | +€154 | +25.1% |
| Recurring financial charges | 65 | €613 | €767 | +€154 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €21,658 | €104 | -€21,554 | -99.5% |
| Income taxes | 67/77 | €6,388 | €959 | -€5,429 | -85.0% |
| Profit (loss) for the period | 9904 | €15,270 | -€855 | -€16,125 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,270 | -€855 | -€16,125 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.