KA'IVA: 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.
KA'IVA
Largest movements
- Tangible fixed assets +€28,330
up €28,330 (+997.5%), from €2,840 to €31,170
of which Furniture and vehicles: +€27,019
- Cash +€9,521
up €9,521 (+27.0%), from €35,249 to €44,770
mainly Debts after one year (+€25,000) and Net result for the year (+€19,189)
- Receivables within one year -€8,162
down €8,162 (-85.9%), from €9,502 to €1,340
of which Trade receivables: -€8,839
- Debts after one year +€25,000
new in 2025: €25,000
- Tax, wage and social debts -€4,991
down €4,991 (-91.3%), from €5,464 to €474
- Profit (loss) carried forward +€4,889
up €4,889 (+120.7%), from €4,051 to €8,940
- Other debts +€4,300
up €4,300 (+43.0%), from €10,000 to €14,300
- Advances received +€1,229
new in 2025: €1,229
- Gross operating margin -€30,470
down €30,470 (-47.1%), from €64,680 to €34,210
- Taxes -€10,396
down €10,396 (-61.5%), from €16,898 to €6,502
- Depreciation +€4,346
up €4,346 (+233.7%), from €1,859 to €6,206
- Financial charges +€1,594
up €1,594 (+828.1%), from €193 to €1,787
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 | €48,447 | €77,783 | +€29,337 | +60.6% |
| Fixed assets | 21/28 | €2,920 | €31,250 | +€28,330 | +970.1% |
| Tangible fixed assets | 22/27 | €2,840 | €31,170 | +€28,330 | +997.5% |
| Plant, machinery and equipment | 23 | €381 | €1,691 | +€1,310 | +343.9% |
| Furniture and vehicles | 24 | €2,459 | €29,478 | +€27,019 | +1098.7% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €45,526 | €46,533 | +€1,007 | +2.2% |
| Amounts receivable within one year | 40/41 | €9,502 | €1,340 | -€8,162 | -85.9% |
| Trade receivables | 40 | €8,839 | - | -€8,839 | |
| Other amounts receivable | 41 | €662 | €1,340 | +€677 | +102.3% |
| Cash at bank and in hand | 54/58 | €35,249 | €44,770 | +€9,521 | +27.0% |
| Deferred charges and accrued income | 490/1 | €776 | €424 | -€352 | -45.4% |
| Total equity and liabilities | 10/49 | €48,447 | €77,783 | +€29,337 | +60.6% |
| Equity | 10/15 | €31,511 | €36,400 | +€4,889 | +15.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Contributions outside capital | 11 | €20,460 | €20,460 | = | 0.0% |
| Other | 1109/19 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,051 | €8,940 | +€4,889 | +120.7% |
| Amounts payable | 17/49 | €16,936 | €41,383 | +€24,447 | +144.4% |
| Amounts payable after more than one year | 17 | - | €25,000 | +€25,000 | |
| Financial debts | 170/4 | - | €25,000 | +€25,000 | |
| Amounts payable within one year | 42/48 | €16,396 | €16,383 | -€13 | -0.1% |
| Trade debts | 44 | €932 | €380 | -€552 | -59.2% |
| Suppliers | 440/4 | €932 | €380 | -€552 | -59.2% |
| Advances received on contracts in progress | 46 | - | €1,229 | +€1,229 | |
| Taxes, remuneration and social security | 45 | €5,464 | €474 | -€4,991 | -91.3% |
| Taxes | 450/3 | €5,464 | €474 | -€4,991 | -91.3% |
| Other amounts payable | 47/48 | €10,000 | €14,300 | +€4,300 | +43.0% |
| Accrued charges and deferred income | 492/3 | €539 | - | -€539 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859 | €6,206 | +€4,346 | +233.7% |
| Other operating charges | 640/8 | €994 | €654 | -€340 | -34.2% |
| Gross operating margin | 9900 | €64,680 | €34,210 | -€30,470 | -47.1% |
| Operating profit (loss) | 9901 | €61,827 | €27,351 | -€34,477 | -55.8% |
| Financial income | 75/76B | €53 | €127 | +€75 | +141.3% |
| Recurring financial income | 75 | €53 | €127 | +€75 | +141.3% |
| Financial charges | 65/66B | €193 | €1,787 | +€1,594 | +828.1% |
| Recurring financial charges | 65 | €193 | €1,787 | +€1,594 | +828.1% |
| Profit (loss) for the period before taxes | 9903 | €61,687 | €25,691 | -€35,996 | -58.4% |
| Income taxes | 67/77 | €16,898 | €6,502 | -€10,396 | -61.5% |
| Profit (loss) for the period | 9904 | €44,789 | €19,189 | -€25,600 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,789 | €19,189 | -€25,600 | -57.2% |
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 11 October 2026 via checked.be.