KVP GN: 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.
KVP GN
Largest movements
- Cash +€140,455
up €140,455 (+101%), from €138,586 to €279,041
mainly Net result for the year (+€113,004) and Receivables within one year (+€56,743)
- Receivables within one year -€56,743
down €56,743 (-41.0%), from €138,264 to €81,521
of which Trade receivables: -€45,000
- Current investments -€44,361
down €44,361 (-8.4%), from €530,699 to €486,338
- Tangible fixed assets -€31,863
down €31,863 (-9.5%), from €334,479 to €302,616
of which Land and buildings: -€23,823
- Reserves +€39,319
up €39,319 (+4.2%), from €934,931 to €974,250
- Debts after one year -€17,048
down €17,048 (-16.2%), from €105,426 to €88,377
- Current portion of long-term debt -€12,411
down €12,411 (-42.1%), from €29,460 to €17,048
- Gross operating margin +€23,494
up €23,494 (+13.2%), from €177,707 to €201,201
- Taxes +€5,818
up €5,818 (+13.5%), from €43,186 to €49,004
- Financial income +€5,482
up €5,482 (+61.5%), from €8,915 to €14,396
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 | €1,145,881 | €1,149,517 | +€3,635 | +0.3% |
| Fixed assets | 21/28 | €338,332 | €302,616 | -€35,716 | -10.6% |
| Tangible fixed assets | 22/27 | €334,479 | €302,616 | -€31,863 | -9.5% |
| Land and buildings | 22 | €289,559 | €265,736 | -€23,823 | -8.2% |
| Plant, machinery and equipment | 23 | €2,220 | €5,108 | +€2,888 | +130% |
| Furniture and vehicles | 24 | €10,928 | - | -€10,928 | |
| Other tangible fixed assets | 26 | €31,772 | €31,772 | = | 0.0% |
| Financial fixed assets | 28 | €3,852 | - | -€3,852 | |
| Current assets | 29/58 | €807,549 | €846,901 | +€39,351 | +4.9% |
| Amounts receivable within one year | 40/41 | €138,264 | €81,521 | -€56,743 | -41.0% |
| Trade receivables | 40 | €105,000 | €60,000 | -€45,000 | -42.9% |
| Other amounts receivable | 41 | €33,264 | €21,521 | -€11,743 | -35.3% |
| Current investments | 50/53 | €530,699 | €486,338 | -€44,361 | -8.4% |
| Cash at bank and in hand | 54/58 | €138,586 | €279,041 | +€140,455 | +101% |
| Total equity and liabilities | 10/49 | €1,145,881 | €1,149,517 | +€3,635 | +0.3% |
| Equity | 10/15 | €947,331 | €986,650 | +€39,319 | +4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €934,931 | €974,250 | +€39,319 | +4.2% |
| Distributable reserves | 133 | €934,931 | €974,250 | +€39,319 | +4.2% |
| Amounts payable | 17/49 | €198,550 | €162,867 | -€35,684 | -18.0% |
| Amounts payable after more than one year | 17 | €105,426 | €88,377 | -€17,048 | -16.2% |
| Financial debts | 170/4 | €105,426 | €88,377 | -€17,048 | -16.2% |
| Amounts payable within one year | 42/48 | €90,559 | €71,422 | -€19,137 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €29,460 | €17,048 | -€12,411 | -42.1% |
| Financial debts | 43 | €16,934 | €12,691 | -€4,243 | -25.1% |
| Credit institutions | 430/8 | €16,934 | €12,691 | -€4,243 | -25.1% |
| Trade debts | 44 | €2,341 | €92 | -€2,249 | -96.1% |
| Suppliers | 440/4 | €2,341 | €92 | -€2,249 | -96.1% |
| Taxes, remuneration and social security | 45 | €21,066 | €19,784 | -€1,281 | -6.1% |
| Taxes | 450/3 | €20,124 | €19,784 | -€340 | -1.7% |
| Remuneration and social security | 454/9 | €941 | - | -€941 | |
| Other amounts payable | 47/48 | €20,759 | €21,807 | +€1,048 | +5.0% |
| Accrued charges and deferred income | 492/3 | €2,566 | €3,067 | +€501 | +19.5% |
| Remuneration, social security and pensions | 62 | €13,693 | €12,903 | -€790 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,182 | €36,293 | -€1,889 | -4.9% |
| Other operating charges | 640/8 | €1,494 | €1,328 | -€166 | -11.1% |
| Gross operating margin | 9900 | €177,707 | €201,201 | +€23,494 | +13.2% |
| Operating profit (loss) | 9901 | €124,338 | €150,677 | +€26,339 | +21.2% |
| Financial income | 75/76B | €8,915 | €14,396 | +€5,482 | +61.5% |
| Recurring financial income | 75 | €8,915 | €14,396 | +€5,482 | +61.5% |
| Financial charges | 65/66B | €3,267 | €3,066 | -€201 | -6.2% |
| Recurring financial charges | 65 | €3,267 | €3,066 | -€201 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €129,985 | €162,008 | +€32,022 | +24.6% |
| Income taxes | 67/77 | €43,186 | €49,004 | +€5,818 | +13.5% |
| Profit (loss) for the period | 9904 | €86,799 | €113,004 | +€26,204 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €86,799 | €113,004 | +€26,204 | +30.2% |
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 23 October 2026 via checked.be.