ADMIN KOVICO: 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.
ADMIN KOVICO
Largest movements
- Receivables within one year -€13,568
down €13,568 (-16.7%), from €81,401 to €67,833
of which Trade receivables: -€13,436
- Tangible fixed assets -€11,282
down €11,282 (-66.2%), from €17,030 to €5,749
- Cash -€1,216
down €1,216 (-50.5%), from €2,407 to €1,191
mainly Tax, wage and social debts (-€15,219) and Debts after one year (-€6,419)
- Tax, wage and social debts -€15,219
down €15,219 (-33.5%), from €45,385 to €30,166
of which Taxes: -€9,533
- Debts after one year -€6,419
down €6,419 (-100%), from €6,419 to €0
- Current portion of long-term debt -€5,184
down €5,184 (-44.7%), from €11,603 to €6,419
- Trade debts -€2,280
down €2,280 (-18.9%), from €12,037 to €9,757
- Other debts +€1,975
up €1,975 (+11.4%), from €17,343 to €19,318
- Gross operating margin +€35,881
up €35,881 (+14.2%), from €253,378 to €289,259
- Staff costs +€34,402
up €34,402 (+14.7%), from €234,816 to €269,218
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 | €103,032 | €77,124 | -€25,908 | -25.1% |
| Fixed assets | 21/28 | €17,030 | €5,749 | -€11,282 | -66.2% |
| Tangible fixed assets | 22/27 | €17,030 | €5,749 | -€11,282 | -66.2% |
| Furniture and vehicles | 24 | €17,030 | €5,749 | -€11,282 | -66.2% |
| Current assets | 29/58 | €86,001 | €71,375 | -€14,626 | -17.0% |
| Amounts receivable within one year | 40/41 | €81,401 | €67,833 | -€13,568 | -16.7% |
| Trade receivables | 40 | €80,920 | €67,484 | -€13,436 | -16.6% |
| Other amounts receivable | 41 | €481 | €349 | -€132 | -27.4% |
| Cash at bank and in hand | 54/58 | €2,407 | €1,191 | -€1,216 | -50.5% |
| Deferred charges and accrued income | 490/1 | €2,193 | €2,351 | +€158 | +7.2% |
| Total equity and liabilities | 10/49 | €103,032 | €77,124 | -€25,908 | -25.1% |
| Equity | 10/15 | €10,244 | €11,464 | +€1,220 | +11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 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 | €2,184 | €3,404 | +€1,220 | +55.9% |
| Amounts payable | 17/49 | €92,788 | €65,660 | -€27,128 | -29.2% |
| Amounts payable after more than one year | 17 | €6,419 | €0 | -€6,419 | -100% |
| Financial debts | 170/4 | €6,419 | €0 | -€6,419 | -100% |
| Amounts payable within one year | 42/48 | €86,369 | €65,660 | -€20,708 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €11,603 | €6,419 | -€5,184 | -44.7% |
| Trade debts | 44 | €12,037 | €9,757 | -€2,280 | -18.9% |
| Suppliers | 440/4 | €12,037 | €9,757 | -€2,280 | -18.9% |
| Taxes, remuneration and social security | 45 | €45,385 | €30,166 | -€15,219 | -33.5% |
| Taxes | 450/3 | €13,677 | €4,144 | -€9,533 | -69.7% |
| Remuneration and social security | 454/9 | €31,708 | €26,021 | -€5,686 | -17.9% |
| Other amounts payable | 47/48 | €17,343 | €19,318 | +€1,975 | +11.4% |
| Remuneration, social security and pensions | 62 | €234,816 | €269,218 | +€34,402 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,282 | €11,282 | = | 0.0% |
| Other operating charges | 640/8 | €1,762 | €2,372 | +€609 | +34.6% |
| Gross operating margin | 9900 | €253,378 | €289,259 | +€35,881 | +14.2% |
| Operating profit (loss) | 9901 | €5,518 | €6,388 | +€870 | +15.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €366 | €287 | -€78 | -21.4% |
| Recurring financial charges | 65 | €366 | €287 | -€78 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €5,153 | €6,100 | +€948 | +18.4% |
| Income taxes | 67/77 | €4,922 | €4,880 | -€41 | -0.8% |
| Profit (loss) for the period | 9904 | €231 | €1,220 | +€989 | +428% |
| Profit (loss) for the period to be appropriated | 9905 | €231 | €1,220 | +€989 | +428% |
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 15 October 2026 via checked.be.