KVO Projects: 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.
KVO Projects
Largest movements
- Tangible fixed assets -€10,217
down €10,217 (-23.1%), from €44,200 to €33,982
- Cash +€6,143
up €6,143 (+40.4%), from €15,195 to €21,339
mainly Depreciation (+€10,217) and Net result for the year (+€6,392)
- Receivables within one year +€1,784
up €1,784 (+26.8%), from €6,655 to €8,440
of which Other amounts receivable: +€1,139
- Debts after one year -€9,860
down €9,860 (-27.9%), from €35,386 to €25,526
- Reserves +€5,559
up €5,559 (+45.0%), from €12,352 to €17,911
- Trade debts +€1,001
up €1,001 (+363%), from €276 to €1,276
- Other debts +€661
up €661 (+11.8%), from €5,623 to €6,284
- Gross operating margin -€3,692
down €3,692 (-14.7%), from €25,034 to €21,342
- Depreciation +€3,330
up €3,330 (+48.4%), from €6,887 to €10,217
- Taxes -€441
down €441 (-18.9%), from €2,340 to €1,899
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 | €66,110 | €64,187 | -€1,922 | -2.9% |
| Fixed assets | 21/28 | €44,200 | €33,982 | -€10,217 | -23.1% |
| Tangible fixed assets | 22/27 | €44,200 | €33,982 | -€10,217 | -23.1% |
| Furniture and vehicles | 24 | €44,200 | €33,982 | -€10,217 | -23.1% |
| Current assets | 29/58 | €21,910 | €30,205 | +€8,295 | +37.9% |
| Amounts receivable within one year | 40/41 | €6,655 | €8,440 | +€1,784 | +26.8% |
| Trade receivables | 40 | €4,864 | €5,510 | +€646 | +13.3% |
| Other amounts receivable | 41 | €1,791 | €2,930 | +€1,139 | +63.6% |
| Cash at bank and in hand | 54/58 | €15,195 | €21,339 | +€6,143 | +40.4% |
| Deferred charges and accrued income | 490/1 | €59 | €427 | +€367 | +620% |
| Total equity and liabilities | 10/49 | €66,110 | €64,187 | -€1,922 | -2.9% |
| Equity | 10/15 | €15,352 | €20,911 | +€5,559 | +36.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,352 | €17,911 | +€5,559 | +45.0% |
| Distributable reserves | 133 | €12,352 | €17,911 | +€5,559 | +45.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,758 | €43,276 | -€7,482 | -14.7% |
| Amounts payable after more than one year | 17 | €35,386 | €25,526 | -€9,860 | -27.9% |
| Financial debts | 170/4 | €35,386 | €25,526 | -€9,860 | -27.9% |
| Amounts payable within one year | 42/48 | €15,372 | €17,421 | +€2,049 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €9,473 | €9,860 | +€387 | +4.1% |
| Trade debts | 44 | €276 | €1,276 | +€1,001 | +363% |
| Suppliers | 440/4 | €276 | €1,276 | +€1,001 | +363% |
| Other amounts payable | 47/48 | €5,623 | €6,284 | +€661 | +11.8% |
| Accrued charges and deferred income | 492/3 | - | €330 | +€330 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,887 | €10,217 | +€3,330 | +48.4% |
| Other operating charges | 640/8 | €624 | €708 | +€84 | +13.4% |
| Gross operating margin | 9900 | €25,034 | €21,342 | -€3,692 | -14.7% |
| Operating profit (loss) | 9901 | €17,522 | €10,416 | -€7,106 | -40.6% |
| Financial charges | 65/66B | €1,971 | €2,125 | +€154 | +7.8% |
| Recurring financial charges | 65 | €1,971 | €2,125 | +€154 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €15,551 | €8,291 | -€7,260 | -46.7% |
| Income taxes | 67/77 | €2,340 | €1,899 | -€441 | -18.9% |
| Profit (loss) for the period | 9904 | €13,211 | €6,392 | -€6,819 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,211 | €6,392 | -€6,819 | -51.6% |
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 16 October 2026 via checked.be.