KVR CONSULT: 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.
KVR CONSULT
Largest movements
- Receivables within one year +€60,217
up €60,217 (+206%), from €29,286 to €89,502
of which Trade receivables: +€60,217
- Stocks and contracts +€14,219
up €14,219 (+16.6%), from €85,434 to €99,653
- Tangible fixed assets +€5,191
new in 2025: €5,191
- Reserves +€30,000
up €30,000 (+131%), from €22,900 to €52,900
of which Distributable reserves: +€52,900
- Other debts +€19,198
up €19,198 (+261%), from €7,356 to €26,554
- Tax, wage and social debts +€18,902
up €18,902 (+122%), from €15,515 to €34,417
- Short-term financial debts +€13,734
up €13,734 (+1,269%), from €1,082 to €14,816
- Trade debts -€8,871
down €8,871 (-50.9%), from €17,419 to €8,548
- Gross operating margin +€83,589
up €83,589 (+1,285%), from €6,503 to €90,092
- Taxes +€18,425
up €18,425 (+418%), from €4,410 to €22,835
- Financial charges +€1,319
up €1,319 (+175%), from €755 to €2,074
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 | €114,854 | €194,347 | +€79,494 | +69.2% |
| Fixed assets | 21/28 | - | €5,191 | +€5,191 | |
| Tangible fixed assets | 22/27 | - | €5,191 | +€5,191 | |
| Furniture and vehicles | 24 | - | €5,191 | +€5,191 | |
| Current assets | 29/58 | €114,854 | €189,156 | +€74,302 | +64.7% |
| Stocks and contracts in progress | 3 | €85,434 | €99,653 | +€14,219 | +16.6% |
| Stocks | 30/36 | €85,434 | €99,653 | +€14,219 | +16.6% |
| Amounts receivable within one year | 40/41 | €29,286 | €89,502 | +€60,217 | +206% |
| Trade receivables | 40 | €28,750 | €88,967 | +€60,217 | +209% |
| Other amounts receivable | 41 | €536 | €536 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €134 | €1 | -€133 | -99.5% |
| Total equity and liabilities | 10/49 | €114,854 | €194,347 | +€79,494 | +69.2% |
| Equity | 10/15 | €47,581 | €85,111 | +€37,530 | +78.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,900 | €52,900 | +€30,000 | +131% |
| Non-distributable reserves | 130/1 | €22,900 | - | -€22,900 | |
| Own shares acquired | 1312 | €22,900 | - | -€22,900 | |
| Distributable reserves | 133 | - | €52,900 | +€52,900 | |
| Profit (loss) carried forward | 14 | €18,481 | €26,011 | +€7,530 | +40.7% |
| Amounts payable | 17/49 | €67,272 | €109,236 | +€41,963 | +62.4% |
| Amounts payable after more than one year | 17 | €25,900 | €24,900 | -€1,000 | -3.9% |
| Other amounts payable | 178/9 | €25,900 | €24,900 | -€1,000 | -3.9% |
| Amounts payable within one year | 42/48 | €41,372 | €84,336 | +€42,963 | +104% |
| Financial debts | 43 | €1,082 | €14,816 | +€13,734 | +1,269% |
| Credit institutions | 430/8 | €1,082 | €14,816 | +€13,734 | +1,269% |
| Trade debts | 44 | €17,419 | €8,548 | -€8,871 | -50.9% |
| Suppliers | 440/4 | €17,419 | €8,548 | -€8,871 | -50.9% |
| Taxes, remuneration and social security | 45 | €15,515 | €34,417 | +€18,902 | +122% |
| Taxes | 450/3 | €15,515 | €34,417 | +€18,902 | +122% |
| Other amounts payable | 47/48 | €7,356 | €26,554 | +€19,198 | +261% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €809 | +€809 | |
| Other operating charges | 640/8 | €1,188 | €846 | -€342 | -28.8% |
| Gross operating margin | 9900 | €6,503 | €90,092 | +€83,589 | +1,285% |
| Operating profit (loss) | 9901 | €5,315 | €88,438 | +€83,123 | +1,564% |
| Financial income | 75/76B | €15 | €1 | -€14 | -93.4% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -93.4% |
| Financial charges | 65/66B | €755 | €2,074 | +€1,319 | +175% |
| Recurring financial charges | 65 | €755 | €2,074 | +€1,319 | +175% |
| Profit (loss) for the period before taxes | 9903 | €4,575 | €86,365 | +€81,790 | +1,788% |
| Income taxes | 67/77 | €4,410 | €22,835 | +€18,425 | +418% |
| Profit (loss) for the period | 9904 | €166 | €63,530 | +€63,364 | +38,217% |
| Profit (loss) for the period to be appropriated | 9905 | €166 | €63,530 | +€63,364 | +38,217% |
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 25 October 2026 via checked.be.