KVR: 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.
KVR
Largest movements
- Cash +€38,156
up €38,156 (+12.8%), from €297,565 to €335,721
mainly Net result for the year (+€71,618) and Other debts (+€2,498)
- Receivables within one year +€25,285
up €25,285 (+185.9%), from €13,605 to €38,889
of which Trade receivables: +€25,562
- Tangible fixed assets +€4,662
up €4,662 (+193.2%), from €2,412 to €7,074
of which Furniture and vehicles: +€5,188
- Profit (loss) carried forward +€71,618
up €71,618 (+26.0%), from €275,019 to €346,638
- Tax, wage and social debts -€5,965
down €5,965 (-19.2%), from €31,101 to €25,136
of which Taxes: -€7,050
- Gross operating margin -€17,143
down €17,143 (-10.3%), from €165,921 to €148,778
- Taxes -€3,668
down €3,668 (-16.0%), from €22,860 to €19,192
- Staff costs +€1,912
up €1,912 (+3.9%), from €48,932 to €50,844
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 | €317,395 | €385,985 | +€68,590 | +21.6% |
| Fixed assets | 21/28 | €2,412 | €7,074 | +€4,662 | +193.2% |
| Tangible fixed assets | 22/27 | €2,412 | €7,074 | +€4,662 | +193.2% |
| Land and buildings | 22 | €1,513 | €1,296 | -€217 | -14.3% |
| Plant, machinery and equipment | 23 | €899 | €590 | -€310 | -34.4% |
| Furniture and vehicles | 24 | - | €5,188 | +€5,188 | |
| Current assets | 29/58 | €314,983 | €378,911 | +€63,929 | +20.3% |
| Amounts receivable within one year | 40/41 | €13,605 | €38,889 | +€25,285 | +185.9% |
| Trade receivables | 40 | €8,720 | €34,282 | +€25,562 | +293.1% |
| Other amounts receivable | 41 | €4,884 | €4,607 | -€278 | -5.7% |
| Cash at bank and in hand | 54/58 | €297,565 | €335,721 | +€38,156 | +12.8% |
| Deferred charges and accrued income | 490/1 | €3,813 | €4,301 | +€488 | +12.8% |
| Total equity and liabilities | 10/49 | €317,395 | €385,985 | +€68,590 | +21.6% |
| Equity | 10/15 | €280,019 | €351,638 | +€71,618 | +25.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €275,019 | €346,638 | +€71,618 | +26.0% |
| Amounts payable | 17/49 | €37,376 | €34,348 | -€3,028 | -8.1% |
| Amounts payable within one year | 42/48 | €37,126 | €34,098 | -€3,028 | -8.2% |
| Trade debts | 44 | €6,025 | €6,463 | +€438 | +7.3% |
| Suppliers | 440/4 | €6,025 | €6,463 | +€438 | +7.3% |
| Taxes, remuneration and social security | 45 | €31,101 | €25,136 | -€5,965 | -19.2% |
| Taxes | 450/3 | €19,101 | €12,051 | -€7,050 | -36.9% |
| Remuneration and social security | 454/9 | €12,000 | €13,085 | +€1,085 | +9.0% |
| Other amounts payable | 47/48 | - | €2,498 | +€2,498 | |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €48,932 | €50,844 | +€1,912 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €914 | €818 | -€96 | -10.5% |
| Other operating charges | 640/8 | €2,437 | €3,052 | +€615 | +25.2% |
| Gross operating margin | 9900 | €165,921 | €148,778 | -€17,143 | -10.3% |
| Operating profit (loss) | 9901 | €113,638 | €94,064 | -€19,574 | -17.2% |
| Financial income | 75/76B | €103 | €30 | -€73 | -71.1% |
| Recurring financial income | 75 | €103 | €30 | -€73 | -71.1% |
| Financial charges | 65/66B | €3,807 | €3,284 | -€523 | -13.7% |
| Recurring financial charges | 65 | €3,807 | €3,284 | -€523 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €109,934 | €90,810 | -€19,124 | -17.4% |
| Income taxes | 67/77 | €22,860 | €19,192 | -€3,668 | -16.0% |
| Profit (loss) for the period | 9904 | €87,074 | €71,618 | -€15,456 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,074 | €71,618 | -€15,456 | -17.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.