KVS & PARTNERS: 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.
KVS & PARTNERS
Largest movements
- Cash +€31,617
up €31,617 (+22.8%), from €138,713 to €170,330
mainly Net result for the year (+€53,416) and Depreciation (+€10,095)
- Receivables within one year +€15,137
up €15,137 (+30.4%), from €49,820 to €64,958
of which Trade receivables: +€14,970
- Tangible fixed assets -€7,996
down €7,996 (-22.3%), from €35,906 to €27,910
of which Other tangible fixed assets: -€5,625
- Reserves +€41,916
up €41,916 (+23.3%), from €179,961 to €221,878
- Other debts -€11,133
down €11,133 (-89.0%), from €12,512 to €1,379
- Tax, wage and social debts +€4,549
up €4,549 (+39.0%), from €11,665 to €16,213
- Gross operating margin +€27,471
up €27,471 (+44.0%), from €62,389 to €89,859
- Taxes +€5,182
up €5,182 (+30.6%), from €16,953 to €22,135
- Financial charges +€1,296
up €1,296 (+60.4%), from €2,146 to €3,441
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 | €239,992 | €278,261 | +€38,268 | +15.9% |
| Fixed assets | 21/28 | €37,456 | €29,460 | -€7,996 | -21.3% |
| Tangible fixed assets | 22/27 | €35,906 | €27,910 | -€7,996 | -22.3% |
| Furniture and vehicles | 24 | €12,717 | €10,345 | -€2,371 | -18.6% |
| Other tangible fixed assets | 26 | €23,190 | €17,565 | -€5,625 | -24.3% |
| Financial fixed assets | 28 | €1,550 | €1,550 | = | 0.0% |
| Current assets | 29/58 | €202,537 | €248,801 | +€46,264 | +22.8% |
| Stocks and contracts in progress | 3 | €208 | €397 | +€189 | +90.5% |
| Stocks | 30/36 | €208 | €397 | +€189 | +90.5% |
| Amounts receivable within one year | 40/41 | €49,820 | €64,958 | +€15,137 | +30.4% |
| Trade receivables | 40 | €49,820 | €64,790 | +€14,970 | +30.0% |
| Other amounts receivable | 41 | €0 | €167 | +€167 | |
| Current investments | 50/53 | €9,366 | €9,366 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €138,713 | €170,330 | +€31,617 | +22.8% |
| Deferred charges and accrued income | 490/1 | €4,429 | €3,750 | -€679 | -15.3% |
| Total equity and liabilities | 10/49 | €239,992 | €278,261 | +€38,268 | +15.9% |
| Equity | 10/15 | €213,573 | €255,489 | +€41,916 | +19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €179,961 | €221,878 | +€41,916 | +23.3% |
| Distributable reserves | 133 | €179,961 | €221,878 | +€41,916 | +23.3% |
| Profit (loss) carried forward | 14 | €27,412 | €27,412 | = | 0.0% |
| Amounts payable | 17/49 | €26,420 | €22,772 | -€3,648 | -13.8% |
| Amounts payable within one year | 42/48 | €26,420 | €22,772 | -€3,648 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | - | €1,521 | +€1,521 | |
| Trade debts | 44 | €2,243 | €3,659 | +€1,415 | +63.1% |
| Suppliers | 440/4 | €2,243 | €3,659 | +€1,415 | +63.1% |
| Taxes, remuneration and social security | 45 | €11,665 | €16,213 | +€4,549 | +39.0% |
| Taxes | 450/3 | €11,665 | €16,213 | +€4,549 | +39.0% |
| Other amounts payable | 47/48 | €12,512 | €1,379 | -€11,133 | -89.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,277 | €10,095 | +€818 | +8.8% |
| Other operating charges | 640/8 | €2,592 | €1,745 | -€847 | -32.7% |
| Gross operating margin | 9900 | €62,389 | €89,859 | +€27,471 | +44.0% |
| Operating profit (loss) | 9901 | €50,519 | €78,019 | +€27,500 | +54.4% |
| Financial income | 75/76B | €464 | €973 | +€509 | +109.6% |
| Recurring financial income | 75 | €464 | €973 | +€509 | +109.6% |
| Financial charges | 65/66B | €2,146 | €3,441 | +€1,296 | +60.4% |
| Recurring financial charges | 65 | €2,146 | €3,441 | +€1,296 | +60.4% |
| Profit (loss) for the period before taxes | 9903 | €48,838 | €75,551 | +€26,713 | +54.7% |
| Income taxes | 67/77 | €16,953 | €22,135 | +€5,182 | +30.6% |
| Profit (loss) for the period | 9904 | €31,885 | €53,416 | +€21,532 | +67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,885 | €53,416 | +€21,532 | +67.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.