KVR Management: 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 Management
Largest movements
- Tangible fixed assets -€36,925
down €36,925 (-7.0%), from €529,982 to €493,057
of which Land and buildings: -€35,943
- Cash +€30,905
up €30,905 (+64.5%), from €47,878 to €78,783
mainly Net result for the year (+€71,017) and Depreciation (+€36,925)
- Receivables within one year -€13,965
down €13,965 (-81.6%), from €17,122 to €3,157
of which Trade receivables: -€14,409
- Reserves +€56,726
up €56,726 (+35.4%), from €160,139 to €216,865
- Other debts -€48,460
down €48,460 (-98.9%), from €48,975 to €515
- Debts after one year -€30,784
down €30,784 (-10.5%), from €294,112 to €263,328
- Tax, wage and social debts +€13,238
up €13,238 (+92.8%), from €14,272 to €27,509
of which Taxes: +€12,291
- Trade debts -€12,555
down €12,555 (-81.8%), from €15,349 to €2,795
- Gross operating margin +€69,814
up €69,814 (+86.4%), from €80,811 to €150,625
- Taxes +€22,408
up €22,408 (+221%), from €10,156 to €32,564
- Financial charges -€3,744
down €3,744 (-39.5%), from €9,482 to €5,738
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €595,282 | €575,874 | -€19,409 | -3.3% |
| Fixed assets | 21/28 | €529,982 | €493,057 | -€36,925 | -7.0% |
| Tangible fixed assets | 22/27 | €529,982 | €493,057 | -€36,925 | -7.0% |
| Land and buildings | 22 | €528,007 | €492,064 | -€35,943 | -6.8% |
| Furniture and vehicles | 24 | €1,976 | €993 | -€982 | -49.7% |
| Current assets | 29/58 | €65,300 | €82,816 | +€17,516 | +26.8% |
| Amounts receivable within one year | 40/41 | €17,122 | €3,157 | -€13,965 | -81.6% |
| Trade receivables | 40 | €17,122 | €2,713 | -€14,409 | -84.2% |
| Other amounts receivable | 41 | - | €444 | +€444 | |
| Cash at bank and in hand | 54/58 | €47,878 | €78,783 | +€30,905 | +64.5% |
| Deferred charges and accrued income | 490/1 | €300 | €876 | +€576 | +192% |
| Total equity and liabilities | 10/49 | €595,282 | €575,874 | -€19,409 | -3.3% |
| Equity | 10/15 | €179,216 | €235,942 | +€56,726 | +31.7% |
| Contributions | 10/11 | €19,077 | €19,077 | = | 0.0% |
| Reserves | 13 | €160,139 | €216,865 | +€56,726 | +35.4% |
| Distributable reserves | 133 | €160,139 | €216,865 | +€56,726 | +35.4% |
| Amounts payable | 17/49 | €416,067 | €339,932 | -€76,135 | -18.3% |
| Amounts payable after more than one year | 17 | €294,112 | €263,328 | -€30,784 | -10.5% |
| Financial debts | 170/4 | €294,112 | €263,328 | -€30,784 | -10.5% |
| Amounts payable within one year | 42/48 | €121,954 | €76,604 | -€45,351 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €35,358 | €30,784 | -€4,574 | -12.9% |
| Financial debts | 43 | €8,000 | €15,000 | +€7,000 | +87.5% |
| Credit institutions | 430/8 | €8,000 | €15,000 | +€7,000 | +87.5% |
| Trade debts | 44 | €15,349 | €2,795 | -€12,555 | -81.8% |
| Suppliers | 440/4 | €15,349 | €2,795 | -€12,555 | -81.8% |
| Taxes, remuneration and social security | 45 | €14,272 | €27,509 | +€13,238 | +92.8% |
| Taxes | 450/3 | €10,872 | €23,163 | +€12,291 | +113% |
| Remuneration and social security | 454/9 | €3,400 | €4,346 | +€946 | +27.8% |
| Other amounts payable | 47/48 | €48,975 | €515 | -€48,460 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,956 | €36,925 | -€31 | -0.1% |
| Other operating charges | 640/8 | €4,401 | €4,381 | -€20 | -0.5% |
| Gross operating margin | 9900 | €80,811 | €150,625 | +€69,814 | +86.4% |
| Operating profit (loss) | 9901 | €39,454 | €109,319 | +€69,865 | +177% |
| Financial charges | 65/66B | €9,482 | €5,738 | -€3,744 | -39.5% |
| Recurring financial charges | 65 | €9,482 | €5,738 | -€3,744 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €29,972 | €103,581 | +€73,609 | +246% |
| Income taxes | 67/77 | €10,156 | €32,564 | +€22,408 | +221% |
| Profit (loss) for the period | 9904 | €19,816 | €71,017 | +€51,201 | +258% |
| Profit (loss) for the period to be appropriated | 9905 | €19,816 | €71,017 | +€51,201 | +258% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.