KVZ: what changed
KVZ
Largest movements
- Tangible fixed assets -€6,435
down €6,435 (-100%), from €6,435 to €0
of which Furniture and vehicles: -€6,435
- Receivables within one year +€4,652
up €4,652 (+53.1%), from €8,756 to €13,408
of which Trade receivables: +€5,432
- Cash -€578
down €578 (-14.6%), from €3,956 to €3,378
mainly Receivables within one year (-€4,652) and Current portion of long-term debt (-€4,228)
- Trade debts +€6,106
up €6,106 (+30.2%), from €20,253 to €26,359
- Current portion of long-term debt -€4,228
down €4,228 (-32.0%), from €13,228 to €9,000
- Other debts -€3,440
down €3,440 (-46.8%), from €7,353 to €3,912
- Profit (loss) carried forward -€1,269
down €1,269 (-6.3%), from -€20,164 to -€21,433
- Tax, wage and social debts +€471
new in 2025: €471
- Gross operating margin +€23,342
up €23,342, from -€17,539 to €5,803
- Depreciation -€4,477
down €4,477 (-41.0%), from €10,912 to €6,435
- Other operating charges -€1,252
down €1,252 (-72.7%), from €1,721 to €469
- Staff costs -€811
no longer reported in 2025 (was €811)
- Financial charges -€330
down €330 (-65.6%), from €502 to €173
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,750 | €26,389 | -€2,361 | -8.2% |
| Fixed assets | 21/28 | €16,038 | €9,603 | -€6,435 | -40.1% |
| Tangible fixed assets | 22/27 | €6,435 | €0 | -€6,435 | -100% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €6,435 | €0 | -€6,435 | -100% |
| Financial fixed assets | 28 | €9,603 | €9,603 | = | 0.0% |
| Current assets | 29/58 | €12,712 | €16,786 | +€4,074 | +32.1% |
| Amounts receivable within one year | 40/41 | €8,756 | €13,408 | +€4,652 | +53.1% |
| Trade receivables | 40 | €7,976 | €13,408 | +€5,432 | +68.1% |
| Other amounts receivable | 41 | €780 | - | -€780 | |
| Cash at bank and in hand | 54/58 | €3,956 | €3,378 | -€578 | -14.6% |
| Total equity and liabilities | 10/49 | €28,750 | €26,389 | -€2,361 | -8.2% |
| Equity | 10/15 | -€12,084 | -€13,353 | -€1,269 | -10.5% |
| Contributions | 10/11 | €6,220 | €6,220 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,164 | -€21,433 | -€1,269 | -6.3% |
| Amounts payable | 17/49 | €40,834 | €39,742 | -€1,091 | -2.7% |
| Amounts payable within one year | 42/48 | €40,834 | €39,742 | -€1,091 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €13,228 | €9,000 | -€4,228 | -32.0% |
| Trade debts | 44 | €20,253 | €26,359 | +€6,106 | +30.2% |
| Suppliers | 440/4 | €20,253 | €26,359 | +€6,106 | +30.2% |
| Taxes, remuneration and social security | 45 | - | €471 | +€471 | |
| Taxes | 450/3 | - | €471 | +€471 | |
| Other amounts payable | 47/48 | €7,353 | €3,912 | -€3,440 | -46.8% |
| Remuneration, social security and pensions | 62 | €811 | - | -€811 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,912 | €6,435 | -€4,477 | -41.0% |
| Other operating charges | 640/8 | €1,721 | €469 | -€1,252 | -72.7% |
| Gross operating margin | 9900 | -€17,539 | €5,803 | +€23,342 | |
| Operating profit (loss) | 9901 | -€30,983 | -€1,101 | +€29,882 | +96.4% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €502 | €173 | -€330 | -65.6% |
| Recurring financial charges | 65 | €502 | €173 | -€330 | -65.6% |
| Profit (loss) for the period before taxes | 9903 | -€31,485 | -€1,269 | +€30,216 | +96.0% |
| Profit (loss) for the period | 9904 | -€31,485 | -€1,269 | +€30,216 | +96.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,485 | -€1,269 | +€30,216 | +96.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.