KANOVA: what changed
Two fiscal 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.
KANOVA
Largest movements
- Cash +€26,035
up €26,035 (+18.2%), from €142,670 to €168,705
mainly Depreciation (+€31,347) and Net result for the year (+€28,957)
- Tangible fixed assets -€24,749
down €24,749 (-10.3%), from €240,667 to €215,918
of which Land and buildings: -€28,466
- Reserves +€28,957
up €28,957 (+19.7%), from €146,786 to €175,743
of which Distributable reserves: +€28,957
- Debts after one year -€24,913
down €24,913 (-21.5%), from €116,087 to €91,174
- Accrued charges and deferred income -€5,813
down €5,813 (-98.5%), from €5,903 to €89
- Gross operating margin +€17,367
up €17,367 (+31.7%), from €54,840 to €72,207
- Depreciation -€12,180
down €12,180 (-28.0%), from €43,526 to €31,347
- Taxes +€4,641
up €4,641 (+1293.3%), from €359 to €5,000
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 | €407,207 | €406,645 | -€561 | -0.1% |
| Fixed assets | 21/28 | €240,667 | €215,918 | -€24,749 | -10.3% |
| Tangible fixed assets | 22/27 | €240,667 | €215,918 | -€24,749 | -10.3% |
| Land and buildings | 22 | €222,410 | €193,944 | -€28,466 | -12.8% |
| Furniture and vehicles | 24 | €918 | - | -€918 | |
| Other tangible fixed assets | 26 | €17,339 | €21,973 | +€4,635 | +26.7% |
| Current assets | 29/58 | €166,540 | €190,728 | +€24,188 | +14.5% |
| Amounts receivable within one year | 40/41 | €23,870 | €22,023 | -€1,847 | -7.7% |
| Other amounts receivable | 41 | €23,870 | €22,023 | -€1,847 | -7.7% |
| Cash at bank and in hand | 54/58 | €142,670 | €168,705 | +€26,035 | +18.2% |
| Total equity and liabilities | 10/49 | €407,207 | €406,645 | -€561 | -0.1% |
| Equity | 10/15 | €246,786 | €275,743 | +€28,957 | +11.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €146,786 | €175,743 | +€28,957 | +19.7% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €136,786 | €165,743 | +€28,957 | +21.2% |
| Amounts payable | 17/49 | €160,420 | €130,902 | -€29,518 | -18.4% |
| Amounts payable after more than one year | 17 | €116,087 | €91,174 | -€24,913 | -21.5% |
| Financial debts | 170/4 | €116,087 | €91,174 | -€24,913 | -21.5% |
| Amounts payable within one year | 42/48 | €38,430 | €39,638 | +€1,208 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €22,819 | €23,307 | +€487 | +2.1% |
| Trade debts | 44 | €85 | €806 | +€721 | +847.0% |
| Suppliers | 440/4 | €85 | €806 | +€721 | +847.0% |
| Other amounts payable | 47/48 | €15,526 | €15,526 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,903 | €89 | -€5,813 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,526 | €31,347 | -€12,180 | -28.0% |
| Other operating charges | 640/8 | €3,960 | €4,085 | +€124 | +3.1% |
| Gross operating margin | 9900 | €54,840 | €72,207 | +€17,367 | +31.7% |
| Operating profit (loss) | 9901 | €7,353 | €36,775 | +€29,422 | +400.1% |
| Financial charges | 65/66B | €3,406 | €2,818 | -€588 | -17.3% |
| Recurring financial charges | 65 | €3,406 | €2,818 | -€588 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €3,948 | €33,957 | +€30,009 | +760.2% |
| Income taxes | 67/77 | €359 | €5,000 | +€4,641 | +1293.3% |
| Profit (loss) for the period | 9904 | €3,589 | €28,957 | +€25,368 | +706.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,589 | €28,957 | +€25,368 | +706.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.