KVX: 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.
KVX
Largest movements
- Tangible fixed assets +€269,731
up €269,731 (+142.3%), from €189,507 to €459,238
of which Land and buildings: +€272,684
- Current investments -€112,000
down €112,000 (-52.1%), from €215,000 to €103,000
- Debts after one year +€151,686
up €151,686 (+103.0%), from €147,215 to €298,901
- Reserves -€67,054
down €67,054 (-23.4%), from €286,478 to €219,424
of which Distributable reserves: -€67,054
- Other debts +€34,870
new in 2025: €34,870
- Short-term financial debts +€22,635
up €22,635 (+175.3%), from €12,909 to €35,545
- Depreciation +€17,462
up €17,462 (+204.3%), from €8,549 to €26,012
- Financial charges +€6,641
up €6,641 (+235.0%), from €2,826 to €9,467
- Financial income +€4,168
up €4,168 (+1187.7%), from €351 to €4,519
- Other operating charges +€4,131
up €4,131 (+751.3%), from €550 to €4,681
- Gross operating margin -€1,965
down €1,965 (-2.0%), from €100,250 to €98,285
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 | €472,508 | €622,079 | +€149,571 | +31.7% |
| Fixed assets | 21/28 | €189,507 | €459,238 | +€269,731 | +142.3% |
| Tangible fixed assets | 22/27 | €189,507 | €459,238 | +€269,731 | +142.3% |
| Land and buildings | 22 | €178,515 | €451,199 | +€272,684 | +152.8% |
| Plant, machinery and equipment | 23 | €6,221 | €5,548 | -€674 | -10.8% |
| Furniture and vehicles | 24 | €3,920 | €2,066 | -€1,854 | -47.3% |
| Other tangible fixed assets | 26 | €851 | €425 | -€425 | -50.0% |
| Current assets | 29/58 | €283,000 | €162,840 | -€120,160 | -42.5% |
| Amounts receivable after more than one year | 29 | €20,000 | €15,000 | -€5,000 | -25.0% |
| Trade receivables | 290 | €20,000 | €15,000 | -€5,000 | -25.0% |
| Amounts receivable within one year | 40/41 | €23,768 | €23,886 | +€118 | +0.5% |
| Trade receivables | 40 | €18,446 | €19,426 | +€980 | +5.3% |
| Other amounts receivable | 41 | €5,321 | €4,459 | -€862 | -16.2% |
| Current investments | 50/53 | €215,000 | €103,000 | -€112,000 | -52.1% |
| Cash at bank and in hand | 54/58 | €20,808 | €18,249 | -€2,558 | -12.3% |
| Deferred charges and accrued income | 490/1 | €3,425 | €2,705 | -€720 | -21.0% |
| Total equity and liabilities | 10/49 | €472,508 | €622,079 | +€149,571 | +31.7% |
| Equity | 10/15 | €298,878 | €238,024 | -€60,854 | -20.4% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €286,478 | €219,424 | -€67,054 | -23.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €286,478 | €219,424 | -€67,054 | -23.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €173,630 | €384,055 | +€210,425 | +121.2% |
| Amounts payable after more than one year | 17 | €147,215 | €298,901 | +€151,686 | +103.0% |
| Financial debts | 170/4 | €147,215 | €298,901 | +€151,686 | +103.0% |
| Amounts payable within one year | 42/48 | €26,077 | €83,677 | +€57,599 | +220.9% |
| Financial debts | 43 | €12,909 | €35,545 | +€22,635 | +175.3% |
| Credit institutions | 430/8 | €12,909 | €35,545 | +€22,635 | +175.3% |
| Trade debts | 44 | €2,955 | €0 | -€2,955 | -100.0% |
| Suppliers | 440/4 | €2,955 | €0 | -€2,955 | -100.0% |
| Taxes, remuneration and social security | 45 | €10,214 | €13,262 | +€3,048 | +29.8% |
| Taxes | 450/3 | €10,214 | €13,262 | +€3,048 | +29.8% |
| Other amounts payable | 47/48 | - | €34,870 | +€34,870 | |
| Accrued charges and deferred income | 492/3 | €338 | €1,477 | +€1,139 | +337.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,549 | €26,012 | +€17,462 | +204.3% |
| Other operating charges | 640/8 | €550 | €4,681 | +€4,131 | +751.3% |
| Gross operating margin | 9900 | €100,250 | €98,285 | -€1,965 | -2.0% |
| Operating profit (loss) | 9901 | €91,151 | €67,592 | -€23,558 | -25.8% |
| Financial income | 75/76B | €351 | €4,519 | +€4,168 | +1187.7% |
| Recurring financial income | 75 | €351 | €4,519 | +€4,168 | +1187.7% |
| Financial charges | 65/66B | €2,826 | €9,467 | +€6,641 | +235.0% |
| Recurring financial charges | 65 | €2,826 | €9,467 | +€6,641 | +235.0% |
| Profit (loss) for the period before taxes | 9903 | €88,675 | €62,644 | -€26,032 | -29.4% |
| Income taxes | 67/77 | €18,429 | €17,749 | -€680 | -3.7% |
| Profit (loss) for the period | 9904 | €70,247 | €44,895 | -€25,352 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,247 | €44,895 | -€25,352 | -36.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.