KVQ: what changed
Two fiscal 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.
KVQ
Largest movements
- Cash +€306,714
up €306,714 (+116.5%), from €263,386 to €570,100
mainly Net result for the year (+€245,079) and Current investments (+€180,000)
- Current investments -€180,000
down €180,000 (-100.0%), from €180,000 to €0
- Tangible fixed assets -€12,104
down €12,104 (-93.0%), from €13,010 to €907
- Receivables within one year -€9,275
down €9,275 (-67.5%), from €13,749 to €4,474
of which Trade receivables: -€13,749
- Other debts +€111,618
up €111,618 (+25.8%), from €432,008 to €543,625
- Trade debts -€12,223
down €12,223 (-86.3%), from €14,162 to €1,939
- Accrued charges and deferred income +€8,136
new in 2025: €8,136
- Tax, wage and social debts +€6,572
up €6,572 (+29.3%), from €22,428 to €29,001
- Gross operating margin +€29,955
up €29,955 (+10.2%), from €292,618 to €322,574
- Taxes +€9,071
up €9,071 (+13.6%), from €66,552 to €75,623
- Depreciation -€8,868
down €8,868 (-96.5%), from €9,188 to €320
From the 30-09-2024 result to the 30-09-2025 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 30-09-2024 and 30-09-2025 balance sheets and the 30-09-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 30-09-2024 | 30-09-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €474,406 | €584,211 | +€109,805 | +23.1% |
| Fixed assets | 21/28 | €13,010 | €907 | -€12,104 | -93.0% |
| Tangible fixed assets | 22/27 | €13,010 | €907 | -€12,104 | -93.0% |
| Furniture and vehicles | 24 | €13,010 | €907 | -€12,104 | -93.0% |
| Current assets | 29/58 | €461,396 | €583,304 | +€121,909 | +26.4% |
| Amounts receivable within one year | 40/41 | €13,749 | €4,474 | -€9,275 | -67.5% |
| Trade receivables | 40 | €13,749 | €0 | -€13,749 | -100.0% |
| Other amounts receivable | 41 | - | €4,474 | +€4,474 | |
| Current investments | 50/53 | €180,000 | €0 | -€180,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €263,386 | €570,100 | +€306,714 | +116.5% |
| Deferred charges and accrued income | 490/1 | €4,261 | €8,731 | +€4,469 | +104.9% |
| Total equity and liabilities | 10/49 | €474,406 | €584,211 | +€109,805 | +23.1% |
| Equity | 10/15 | €1,511 | €1,511 | = | 0.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11 | €11 | = | 0.0% |
| Amounts payable | 17/49 | €472,896 | €582,700 | +€109,805 | +23.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €472,896 | €574,565 | +€101,669 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €4,297 | €0 | -€4,297 | -100.0% |
| Trade debts | 44 | €14,162 | €1,939 | -€12,223 | -86.3% |
| Suppliers | 440/4 | €14,162 | €1,939 | -€12,223 | -86.3% |
| Taxes, remuneration and social security | 45 | €22,428 | €29,001 | +€6,572 | +29.3% |
| Taxes | 450/3 | €22,428 | €29,001 | +€6,572 | +29.3% |
| Other amounts payable | 47/48 | €432,008 | €543,625 | +€111,618 | +25.8% |
| Accrued charges and deferred income | 492/3 | - | €8,136 | +€8,136 | |
| Non-recurring operating income | 76A | - | €10,841 | +€10,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,188 | €320 | -€8,868 | -96.5% |
| Other operating charges | 640/8 | €616 | €1,024 | +€408 | +66.2% |
| Gross operating margin | 9900 | €292,618 | €322,574 | +€29,955 | +10.2% |
| Operating profit (loss) | 9901 | €282,814 | €321,230 | +€38,416 | +13.6% |
| Financial income | 75/76B | €1,853 | €290 | -€1,563 | -84.3% |
| Recurring financial income | 75 | €1,853 | €290 | -€1,563 | -84.3% |
| Financial charges | 65/66B | €144 | €818 | +€674 | +469.2% |
| Recurring financial charges | 65 | €144 | €818 | +€674 | +469.2% |
| Profit (loss) for the period before taxes | 9903 | €284,523 | €320,702 | +€36,179 | +12.7% |
| Income taxes | 67/77 | €66,552 | €75,623 | +€9,071 | +13.6% |
| Profit (loss) for the period | 9904 | €217,971 | €245,079 | +€27,108 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €217,971 | €245,079 | +€27,108 | +12.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.