KVNRG: 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.
KVNRG
Largest movements
- Receivables within one year -€1.3m
down €1.3m (-57.3%), from €2.3m to €977,191
of which Trade receivables: -€1.3m
- Cash +€922,710
up €922,710 (+78.1%), from €1.2m to €2.1m
mainly Receivables within one year (+€1.3m) and Net result for the year (+€864,502)
- Profit (loss) carried forward -€835,498
down €835,498 (-92.9%), from €899,202 to €63,704
- Other debts +€500,000
up €500,000 (+41.7%), from €1.2m to €1.7m
- Tax, wage and social debts -€376,177
down €376,177 (-90.4%), from €416,005 to €39,828
- Trade debts +€281,488
up €281,488 (+67.7%), from €415,831 to €697,319
- Gross operating margin -€1.2m
down €1.2m (-49.3%), from €2.4m to €1.2m
- Taxes -€346,136
down €346,136 (-54.6%), from €634,303 to €288,167
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 | €4,020,371 | €3,596,851 | -€423,520 | -10.5% |
| Fixed assets | 21/28 | €1,962 | €1,962 | = | 0.0% |
| Financial fixed assets | 28 | €1,962 | €1,962 | = | 0.0% |
| Current assets | 29/58 | €4,018,409 | €3,594,889 | -€423,520 | -10.5% |
| Amounts receivable within one year | 40/41 | €2,290,810 | €977,191 | -€1.3m | -57.3% |
| Trade receivables | 40 | €1,918,678 | €618,901 | -€1.3m | -67.7% |
| Other amounts receivable | 41 | €372,132 | €358,290 | -€13,842 | -3.7% |
| Current investments | 50/53 | €402,012 | €402,096 | +€84 | 0.0% |
| Cash at bank and in hand | 54/58 | €1,180,980 | €2,103,690 | +€922,710 | +78.1% |
| Deferred charges and accrued income | 490/1 | €144,608 | €111,912 | -€32,696 | -22.6% |
| Total equity and liabilities | 10/49 | €4,020,371 | €3,596,851 | -€423,520 | -10.5% |
| Equity | 10/15 | €1,595,202 | €759,704 | -€835,498 | -52.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €446,000 | €446,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €421,000 | €421,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €899,202 | €63,704 | -€835,498 | -92.9% |
| Provisions and deferred taxes | 16 | €393,333 | €400,000 | +€6,667 | +1.7% |
| Provisions for liabilities and charges | 160/5 | €393,333 | €400,000 | +€6,667 | +1.7% |
| Major repairs and maintenance | 162 | €393,333 | €400,000 | +€6,667 | +1.7% |
| Amounts payable | 17/49 | €2,031,836 | €2,437,147 | +€405,311 | +19.9% |
| Amounts payable within one year | 42/48 | €2,031,836 | €2,437,147 | +€405,311 | +19.9% |
| Trade debts | 44 | €415,831 | €697,319 | +€281,488 | +67.7% |
| Suppliers | 440/4 | €415,831 | €697,319 | +€281,488 | +67.7% |
| Taxes, remuneration and social security | 45 | €416,005 | €39,828 | -€376,177 | -90.4% |
| Taxes | 450/3 | €416,005 | €39,828 | -€376,177 | -90.4% |
| Other amounts payable | 47/48 | €1,200,000 | €1,700,000 | +€500,000 | +41.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €26,667 | €6,667 | -€20,000 | -75.0% |
| Other operating charges | 640/8 | €70,898 | €70,960 | +€61 | +0.1% |
| Gross operating margin | 9900 | €2,398,111 | €1,215,848 | -€1.2m | -49.3% |
| Operating profit (loss) | 9901 | €2,300,546 | €1,138,221 | -€1.2m | -50.5% |
| Financial income | 75/76B | €12,010 | €14,498 | +€2,488 | +20.7% |
| Recurring financial income | 75 | €12,010 | €14,498 | +€2,488 | +20.7% |
| Financial charges | 65/66B | €50 | €50 | -€0 | -0.9% |
| Recurring financial charges | 65 | €50 | €50 | -€0 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €2,312,505 | €1,152,669 | -€1.2m | -50.2% |
| Income taxes | 67/77 | €634,303 | €288,167 | -€346,136 | -54.6% |
| Profit (loss) for the period | 9904 | €1,678,202 | €864,502 | -€813,700 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,678,202 | €864,502 | -€813,700 | -48.5% |
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 11 October 2026 via checked.be.