KAIVKA: 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.
KAIVKA
Largest movements
- Tangible fixed assets -€217,969
down €217,969 (-42.8%), from €509,238 to €291,270
of which Land and buildings: -€202,738
- Cash -€164,982
down €164,982 (-19.4%), from €852,119 to €687,138
mainly Contributions, distributions and other (-€541,176) and Debts after one year (-€113,472)
- Financial fixed assets +€161,838
up €161,838 (+3610.8%), from €4,482 to €166,320
- Receivables within one year -€25,255
down €25,255 (-39.5%), from €63,983 to €38,728
of which Other amounts receivable: -€45,205
- Profit (loss) carried forward -€565,765
down €565,765 (-77.2%), from €733,162 to €167,397
- Other debts +€416,895
up €416,895 (+113.4%), from €367,676 to €784,571
- Debts after one year -€113,472
down €113,472 (-42.8%), from €265,309 to €151,837
- Accrued charges and deferred income +€19,214
up €19,214 (+291.1%), from €6,600 to €25,814
- Financial income -€496,370
down €496,370 (-96.0%), from €516,894 to €20,524
of which Financial income: -€503,201
- Gross operating margin -€179,405
down €179,405 (-91.8%), from €195,419 to €16,013
- Taxes -€85,131
down €85,131 (-98.9%), from €86,102 to €972
- Financial charges +€17,028
up €17,028 (+114.4%), from €14,881 to €31,909
- Other operating charges +€2,218
up €2,218 (+130.3%), from €1,702 to €3,920
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 | €1,430,529 | €1,184,942 | -€245,587 | -17.2% |
| Fixed assets | 21/28 | €513,720 | €457,590 | -€56,131 | -10.9% |
| Tangible fixed assets | 22/27 | €509,238 | €291,270 | -€217,969 | -42.8% |
| Land and buildings | 22 | €427,820 | €225,083 | -€202,738 | -47.4% |
| Furniture and vehicles | 24 | €62,795 | €48,698 | -€14,097 | -22.4% |
| Other tangible fixed assets | 26 | €18,623 | €17,489 | -€1,134 | -6.1% |
| Financial fixed assets | 28 | €4,482 | €166,320 | +€161,838 | +3610.8% |
| Current assets | 29/58 | €916,809 | €727,352 | -€189,456 | -20.7% |
| Amounts receivable within one year | 40/41 | €63,983 | €38,728 | -€25,255 | -39.5% |
| Trade receivables | 40 | - | €19,950 | +€19,950 | |
| Other amounts receivable | 41 | €63,983 | €18,778 | -€45,205 | -70.7% |
| Cash at bank and in hand | 54/58 | €852,119 | €687,138 | -€164,982 | -19.4% |
| Deferred charges and accrued income | 490/1 | €707 | €1,486 | +€780 | +110.4% |
| Total equity and liabilities | 10/49 | €1,430,529 | €1,184,942 | -€245,587 | -17.2% |
| Equity | 10/15 | €760,662 | €194,897 | -€565,765 | -74.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €733,162 | €167,397 | -€565,765 | -77.2% |
| Amounts payable | 17/49 | €669,867 | €990,045 | +€320,178 | +47.8% |
| Amounts payable after more than one year | 17 | €265,309 | €151,837 | -€113,472 | -42.8% |
| Financial debts | 170/4 | €265,309 | €151,837 | -€113,472 | -42.8% |
| Amounts payable within one year | 42/48 | €397,959 | €812,394 | +€414,435 | +104.1% |
| Current portion of amounts payable after more than one year | 42 | €26,207 | €17,764 | -€8,443 | -32.2% |
| Trade debts | 44 | €1,248 | €10,059 | +€8,811 | +706.3% |
| Suppliers | 440/4 | €1,248 | €10,059 | +€8,811 | +706.3% |
| Taxes, remuneration and social security | 45 | €2,828 | €0 | -€2,828 | -100.0% |
| Taxes | 450/3 | €2,828 | €0 | -€2,828 | -100.0% |
| Other amounts payable | 47/48 | €367,676 | €784,571 | +€416,895 | +113.4% |
| Accrued charges and deferred income | 492/3 | €6,600 | €25,814 | +€19,214 | +291.1% |
| Non-recurring operating income | 76A | €10,000 | €37,057 | +€27,057 | +270.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,766 | €24,326 | +€560 | +2.4% |
| Other operating charges | 640/8 | €1,702 | €3,920 | +€2,218 | +130.3% |
| Gross operating margin | 9900 | €195,419 | €16,013 | -€179,405 | -91.8% |
| Operating profit (loss) | 9901 | €169,950 | -€12,232 | -€182,182 | |
| Financial income | 75/76B | €516,894 | €20,524 | -€496,370 | -96.0% |
| Recurring financial income | 75 | €516,894 | €13,693 | -€503,201 | -97.4% |
| Non-recurring financial income | 76B | - | €6,831 | +€6,831 | |
| Financial charges | 65/66B | €14,881 | €31,909 | +€17,028 | +114.4% |
| Recurring financial charges | 65 | €14,881 | €31,909 | +€17,028 | +114.4% |
| Profit (loss) for the period before taxes | 9903 | €671,963 | -€23,617 | -€695,580 | |
| Income taxes | 67/77 | €86,102 | €972 | -€85,131 | -98.9% |
| Profit (loss) for the period | 9904 | €585,861 | -€24,589 | -€610,449 | |
| Profit (loss) for the period to be appropriated | 9905 | €585,861 | -€24,589 | -€610,449 |
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 9 October 2026 via checked.be.