KVN Consult: 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.
What changed
KVN Consult
NACE 47.690, Retail sale of other cultural and recreation goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€7,797
2024 · €449-€8,246
Equity
€124,638
2024 · €132,435-€7,797
Cash
€24,896
2024 · €19,362+€5,534
Balance sheet total
€1.6m
2024 · €1.6m-€9,719
Largest movements
Assets
- Tangible fixed assets -€28,474
down €28,474 (-2.0%), from €1.5m to €1.4m
of which Land and buildings: -€24,539
- Stocks and contracts +€17,655
up €17,655 (+17.1%), from €103,388 to €121,043
Equity and liabilities
- Other debts +€65,908
up €65,908 (+9.8%), from €674,445 to €740,353
- Debts after one year -€61,267
down €61,267 (-9.0%), from €677,067 to €615,800
Income statement
- Gross operating margin -€17,415
down €17,415 (-11.3%), from €153,542 to €136,127
- Provisions -€7,500
new in 2025: -€7,500
- Taxes -€6,727
down €6,727 (-70.4%), from €9,558 to €2,831
- Depreciation +€4,262
up €4,262 (+12.6%), from €33,937 to €38,199
- Staff costs +€2,237
up €2,237 (+3.2%), from €69,973 to €72,210
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.
Result 2024
€449
Gross operating margin
-€17,415
Staff costs
-€2,237
Depreciation
-€4,262
Provisions
+€7,500
Other operating charges
-€291
Financial income
-€418
Financial charges
+€2,150
Taxes
+€6,727
Result 2025
-€7,797
raises the resultlowers the result
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.
From operations
+€77,858
Investment
-€9,729
Financing
-€62,595
Cash 2024
€19,362
From operations (derived)
+€77,858
Net result for the year
-€7,797
Depreciation
+€38,199
Stocks and contracts
-€17,655
Receivables within one year
+€4,438
Provisions
-€7,500
Trade debts
+€6,142
Tax, wage and social debts
-€3,877
Other debts
+€65,908
Investment (derived)
-€9,729
Investment in fixed assets (net)
-€9,725
Current investments
-€4
Financing
-€62,595
Debts after one year
-€61,267
Current portion of long-term debt
-€1,328
Cash 2025
€24,896
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,606,662 | €1,596,943 | -€9,719 | -0.6% |
| Fixed assets | 21/28 | €1,462,949 | €1,434,475 | -€28,474 | -1.9% |
| Tangible fixed assets | 22/27 | €1,455,587 | €1,427,113 | -€28,474 | -2.0% |
| Land and buildings | 22 | €1,402,068 | €1,377,529 | -€24,539 | -1.8% |
| Plant, machinery and equipment | 23 | - | €4,154 | +€4,154 | |
| Furniture and vehicles | 24 | €5,525 | €4,420 | -€1,105 | -20.0% |
| Other tangible fixed assets | 26 | €47,994 | €41,010 | -€6,984 | -14.6% |
| Financial fixed assets | 28 | €7,362 | €7,362 | = | 0.0% |
| Current assets | 29/58 | €143,713 | €162,468 | +€18,755 | +13.1% |
| Stocks and contracts in progress | 3 | €103,388 | €121,043 | +€17,655 | +17.1% |
| Stocks | 30/36 | €103,388 | €121,043 | +€17,655 | +17.1% |
| Amounts receivable within one year | 40/41 | €20,955 | €16,517 | -€4,438 | -21.2% |
| Trade receivables | 40 | €20,955 | €16,517 | -€4,438 | -21.2% |
| Current investments | 50/53 | €8 | €12 | +€4 | +50.0% |
| Cash at bank and in hand | 54/58 | €19,362 | €24,896 | +€5,534 | +28.6% |
| Total equity and liabilities | 10/49 | €1,606,662 | €1,596,943 | -€9,719 | -0.6% |
| Equity | 10/15 | €132,435 | €124,638 | -€7,797 | -5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,835 | €106,038 | -€7,797 | -6.8% |
| Provisions and deferred taxes | 16 | €7,500 | - | -€7,500 | |
| Provisions for liabilities and charges | 160/5 | €7,500 | - | -€7,500 | |
| Pensions and similar obligations | 160 | €7,500 | - | -€7,500 | |
| Amounts payable | 17/49 | €1,466,727 | €1,472,305 | +€5,578 | +0.4% |
| Amounts payable after more than one year | 17 | €677,067 | €615,800 | -€61,267 | -9.0% |
| Financial debts | 170/4 | €677,067 | €615,800 | -€61,267 | -9.0% |
| Amounts payable within one year | 42/48 | €789,660 | €856,505 | +€66,845 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €36,328 | €35,000 | -€1,328 | -3.7% |
| Trade debts | 44 | €39,883 | €46,025 | +€6,142 | +15.4% |
| Suppliers | 440/4 | €39,883 | €46,025 | +€6,142 | +15.4% |
| Taxes, remuneration and social security | 45 | €39,004 | €35,127 | -€3,877 | -9.9% |
| Taxes | 450/3 | €39,004 | €35,127 | -€3,877 | -9.9% |
| Other amounts payable | 47/48 | €674,445 | €740,353 | +€65,908 | +9.8% |
| Remuneration, social security and pensions | 62 | €69,973 | €72,210 | +€2,237 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,937 | €38,199 | +€4,262 | +12.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€7,500 | -€7,500 | |
| Other operating charges | 640/8 | €15,592 | €15,883 | +€291 | +1.9% |
| Gross operating margin | 9900 | €153,542 | €136,127 | -€17,415 | -11.3% |
| Operating profit (loss) | 9901 | €34,040 | €17,335 | -€16,705 | -49.1% |
| Financial income | 75/76B | €435 | €17 | -€418 | -96.1% |
| Recurring financial income | 75 | €435 | €17 | -€418 | -96.1% |
| Financial charges | 65/66B | €24,468 | €22,318 | -€2,150 | -8.8% |
| Recurring financial charges | 65 | €24,468 | €22,318 | -€2,150 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €10,007 | -€4,966 | -€14,973 | |
| Income taxes | 67/77 | €9,558 | €2,831 | -€6,727 | -70.4% |
| Profit (loss) for the period | 9904 | €449 | -€7,797 | -€8,246 | |
| Profit (loss) for the period to be appropriated | 9905 | €449 | -€7,797 | -€8,246 |
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 29 October 2026 via checked.be.