KVN MANAGEMENT: what changed
What changed
KVN MANAGEMENT
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€4,599
2024 · €2,502+€2,097
Equity
€23,000
2024 · €20,000+€3,000
Cash
€2,101
2024 · €1,720+€380
Balance sheet total
€895,237
2024 · €500,073+€395,164
Largest movements
Assets
- Financial fixed assets +€345,000
new in 2025: €345,000
- Tangible fixed assets +€40,941
up €40,941 (+8.4%), from €489,453 to €530,393
of which Land and buildings: +€37,203
- Receivables within one year +€9,807
up €9,807 (+207%), from €4,735 to €14,541
of which Trade receivables: +€10,021
Equity and liabilities
- Debts after one year +€390,891
up €390,891 (+99.8%), from €391,487 to €782,378
of which Other amounts payable: +€345,000
- Current portion of long-term debt +€12,483
up €12,483 (+47.8%), from €26,124 to €38,606
- Trade debts -€10,122
down €10,122 (-54.8%), from €18,481 to €8,359
Income statement
- Gross operating margin +€9,204
up €9,204 (+19.0%), from €48,425 to €57,628
- Depreciation +€2,864
up €2,864 (+11.5%), from €24,959 to €27,822
- Taxes +€2,665
up €2,665 (+72.3%), from €3,686 to €6,350
- Other operating charges +€919
up €919 (+34.9%), from €2,634 to €3,553
- Financial charges +€659
up €659 (+4.5%), from €14,644 to €15,303
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2,502
Gross operating margin
+€9,204
Depreciation
-€2,864
Other operating charges
-€919
Financial charges
-€659
Taxes
-€2,665
Result 2025
€4,599
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€11,023
Investment
-€413,763
Financing
+€403,120
Cash 2024
€1,720
From operations (derived)
+€11,023
Net result for the year
+€4,599
Depreciation
+€27,822
Receivables within one year
-€9,807
Smaller working-capital items
+€900
Trade debts
-€10,122
Other debts
-€4,126
Accrued charges and deferred income
+€1,757
Investment (derived)
-€413,763
Investment in fixed assets (net)
-€413,763
Financing
+€403,120
Debts after one year
+€390,891
Current portion of long-term debt
+€12,483
Short-term financial debts
+€1,346
Contributions, distributions and other
-€1,599
Cash 2025
€2,101
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €500,073 | €895,237 | +€395,164 | +79.0% |
| Fixed assets | 21/28 | €489,453 | €875,393 | +€385,941 | +78.9% |
| Tangible fixed assets | 22/27 | €489,453 | €530,393 | +€40,941 | +8.4% |
| Land and buildings | 22 | €412,368 | €449,571 | +€37,203 | +9.0% |
| Plant, machinery and equipment | 23 | €2,660 | €5,283 | +€2,623 | +98.6% |
| Other tangible fixed assets | 26 | €74,425 | €75,539 | +€1,114 | +1.5% |
| Financial fixed assets | 28 | - | €345,000 | +€345,000 | |
| Current assets | 29/58 | €10,620 | €19,844 | +€9,223 | +86.8% |
| Amounts receivable within one year | 40/41 | €4,735 | €14,541 | +€9,807 | +207% |
| Trade receivables | 40 | - | €10,021 | +€10,021 | |
| Other amounts receivable | 41 | €4,735 | €4,520 | -€214 | -4.5% |
| Cash at bank and in hand | 54/58 | €1,720 | €2,101 | +€380 | +22.1% |
| Deferred charges and accrued income | 490/1 | €4,165 | €3,202 | -€964 | -23.1% |
| Total equity and liabilities | 10/49 | €500,073 | €895,237 | +€395,164 | +79.0% |
| Equity | 10/15 | €20,000 | €23,000 | +€3,000 | +15.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €3,000 | +€3,000 | |
| Amounts payable | 17/49 | €480,073 | €872,237 | +€392,164 | +81.7% |
| Amounts payable after more than one year | 17 | €391,487 | €782,378 | +€390,891 | +99.8% |
| Financial debts | 170/4 | €391,487 | €437,378 | +€45,891 | +11.7% |
| Other amounts payable | 178/9 | - | €345,000 | +€345,000 | |
| Amounts payable within one year | 42/48 | €84,818 | €84,334 | -€484 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €26,124 | €38,606 | +€12,483 | +47.8% |
| Financial debts | 43 | - | €1,346 | +€1,346 | |
| Credit institutions | 430/8 | - | €1,346 | +€1,346 | |
| Trade debts | 44 | €18,481 | €8,359 | -€10,122 | -54.8% |
| Suppliers | 440/4 | €18,481 | €8,359 | -€10,122 | -54.8% |
| Taxes, remuneration and social security | 45 | €3,566 | €3,502 | -€64 | -1.8% |
| Taxes | 450/3 | €3,566 | €3,502 | -€64 | -1.8% |
| Other amounts payable | 47/48 | €36,648 | €32,521 | -€4,126 | -11.3% |
| Accrued charges and deferred income | 492/3 | €3,768 | €5,524 | +€1,757 | +46.6% |
| Non-recurring operating income | 76A | €1,668 | €0 | -€1,668 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,959 | €27,822 | +€2,864 | +11.5% |
| Other operating charges | 640/8 | €2,634 | €3,553 | +€919 | +34.9% |
| Gross operating margin | 9900 | €48,425 | €57,628 | +€9,204 | +19.0% |
| Operating profit (loss) | 9901 | €20,832 | €26,253 | +€5,421 | +26.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €14,644 | €15,303 | +€659 | +4.5% |
| Recurring financial charges | 65 | €14,644 | €15,303 | +€659 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €6,188 | €10,950 | +€4,762 | +77.0% |
| Income taxes | 67/77 | €3,686 | €6,350 | +€2,665 | +72.3% |
| Profit (loss) for the period | 9904 | €2,502 | €4,599 | +€2,097 | +83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,502 | €4,599 | +€2,097 | +83.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.