Kauvet: 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.
Kauvet
Largest movements
- Receivables within one year -€58,711
down €58,711 (-52.7%), from €111,406 to €52,695
of which Trade receivables: -€58,796
- Cash +€54,178
up €54,178 (+78.2%), from €69,299 to €123,477
mainly Receivables within one year (+€58,711) and Depreciation (+€14,103)
- Tangible fixed assets -€14,103
down €14,103 (-30.1%), from €46,916 to €32,814
of which Furniture and vehicles: -€9,943
- Current investments +€6,170
up €6,170 (+28.3%), from €21,795 to €27,965
- Deferred charges and accrued income -€3,759
down €3,759 (-59.0%), from €6,376 to €2,617
- Reserves -€10,639
down €10,639 (-8.4%), from €127,164 to €116,526
of which Distributable reserves: -€8,239
- Debts after one year -€8,079
down €8,079 (-49.8%), from €16,239 to €8,160
- Other debts +€5,589
up €5,589 (+7.8%), from €71,901 to €77,490
- Tax, wage and social debts -€2,721
down €2,721 (-26.1%), from €10,418 to €7,697
of which Remuneration and social security: -€3,092
- Gross operating margin -€74,425
down €74,425 (-77.2%), from €96,429 to €22,005
- Taxes -€17,565
down €17,565 (-89.6%), from €19,602 to €2,037
- Financial income +€2,489
up €2,489 (+4,019%), from €62 to €2,551
- Financial charges -€1,365
down €1,365 (-23.9%), from €5,721 to €4,355
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 | €255,793 | €239,568 | -€16,225 | -6.3% |
| Fixed assets | 21/28 | €46,916 | €32,814 | -€14,103 | -30.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €46,916 | €32,814 | -€14,103 | -30.1% |
| Land and buildings | 22 | €17,552 | €13,392 | -€4,160 | -23.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €29,364 | €19,422 | -€9,943 | -33.9% |
| Current assets | 29/58 | €208,877 | €206,754 | -€2,122 | -1.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €111,406 | €52,695 | -€58,711 | -52.7% |
| Trade receivables | 40 | €110,955 | €52,159 | -€58,796 | -53.0% |
| Other amounts receivable | 41 | €451 | €536 | +€85 | +18.8% |
| Current investments | 50/53 | €21,795 | €27,965 | +€6,170 | +28.3% |
| Cash at bank and in hand | 54/58 | €69,299 | €123,477 | +€54,178 | +78.2% |
| Deferred charges and accrued income | 490/1 | €6,376 | €2,617 | -€3,759 | -59.0% |
| Total equity and liabilities | 10/49 | €255,793 | €239,568 | -€16,225 | -6.3% |
| Equity | 10/15 | €139,564 | €128,926 | -€10,639 | -7.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €127,164 | €116,526 | -€10,639 | -8.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €7,088 | €4,688 | -€2,400 | -33.9% |
| Distributable reserves | 133 | €120,076 | €111,838 | -€8,239 | -6.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,772 | €1,172 | -€600 | -33.9% |
| Deferred taxes | 168 | €1,772 | €1,172 | -€600 | -33.9% |
| Amounts payable | 17/49 | €114,456 | €109,470 | -€4,986 | -4.4% |
| Amounts payable after more than one year | 17 | €16,239 | €8,160 | -€8,079 | -49.8% |
| Financial debts | 170/4 | €16,239 | €8,160 | -€8,079 | -49.8% |
| Amounts payable within one year | 42/48 | €92,857 | €97,219 | +€4,362 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €7,999 | €8,079 | +€80 | +1.0% |
| Trade debts | 44 | €2,538 | €3,952 | +€1,414 | +55.7% |
| Suppliers | 440/4 | €2,538 | €3,952 | +€1,414 | +55.7% |
| Taxes, remuneration and social security | 45 | €10,418 | €7,697 | -€2,721 | -26.1% |
| Taxes | 450/3 | €3,603 | €3,973 | +€370 | +10.3% |
| Remuneration and social security | 454/9 | €6,815 | €3,724 | -€3,092 | -45.4% |
| Other amounts payable | 47/48 | €71,901 | €77,490 | +€5,589 | +7.8% |
| Accrued charges and deferred income | 492/3 | €5,360 | €4,091 | -€1,269 | -23.7% |
| Non-recurring operating income | 76A | €64,017 | €0 | -€64,017 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,488 | €14,103 | -€386 | -2.7% |
| Other operating charges | 640/8 | €2,242 | €2,315 | +€73 | +3.3% |
| Gross operating margin | 9900 | €96,429 | €22,005 | -€74,425 | -77.2% |
| Operating profit (loss) | 9901 | €79,699 | €5,587 | -€74,112 | -93.0% |
| Financial income | 75/76B | €62 | €2,551 | +€2,489 | +4,019% |
| Recurring financial income | 75 | €62 | €2,551 | +€2,489 | +4,019% |
| Financial charges | 65/66B | €5,721 | €4,355 | -€1,365 | -23.9% |
| Recurring financial charges | 65 | €5,721 | €4,355 | -€1,365 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €74,040 | €3,783 | -€70,257 | -94.9% |
| Transfer from deferred taxes | 780 | €600 | €600 | = | 0.0% |
| Income taxes | 67/77 | €19,602 | €2,037 | -€17,565 | -89.6% |
| Profit (loss) for the period | 9904 | €55,038 | €2,346 | -€52,692 | -95.7% |
| Transfer from tax-exempt reserves | 789 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,438 | €4,746 | -€52,692 | -91.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.