KaVa Ventures: 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.
KaVa Ventures
Largest movements
- Current investments +€2.1m
up €2.1m (+12.1%), from €17.3m to €19.4m
- Cash -€1.4m
down €1.4m (-84.2%), from €1.7m to €270,388
mainly Current investments (-€2.1m) and Advances received (-€63,085)
- Financial fixed assets -€312,500
down €312,500 (-20.7%), from €1.5m to €1.2m
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€73,024
up €73,024 (+331624.9%), from €22 to €73,046
- Gross operating margin -€52,423
down €52,423 (-31.9%), from €164,350 to €111,927
- Financial charges -€18,461
down €18,461 (-39.6%), from €46,570 to €28,110
- Depreciation +€14,649
up €14,649 (+99.2%), from €14,770 to €29,419
- Other operating charges -€4,105
down €4,105 (-71.7%), from €5,723 to €1,618
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 | €21,227,179 | €21,518,019 | +€290,840 | +1.4% |
| Fixed assets | 21/28 | €2,107,984 | €1,828,729 | -€279,255 | -13.2% |
| Tangible fixed assets | 22/27 | €595,484 | €628,729 | +€33,245 | +5.6% |
| Land and buildings | 22 | €483,750 | €483,750 | = | 0.0% |
| Furniture and vehicles | 24 | €111,734 | €144,979 | +€33,245 | +29.8% |
| Financial fixed assets | 28 | €1,512,500 | €1,200,000 | -€312,500 | -20.7% |
| Current assets | 29/58 | €19,119,195 | €19,689,290 | +€570,095 | +3.0% |
| Amounts receivable within one year | 40/41 | €100,625 | €8,644 | -€91,980 | -91.4% |
| Trade receivables | 40 | €83,435 | €6,644 | -€76,790 | -92.0% |
| Other amounts receivable | 41 | €17,190 | €2,000 | -€15,190 | -88.4% |
| Current investments | 50/53 | €17,304,988 | €19,403,778 | +€2.1m | +12.1% |
| Cash at bank and in hand | 54/58 | €1,710,050 | €270,388 | -€1.4m | -84.2% |
| Deferred charges and accrued income | 490/1 | €3,532 | €6,480 | +€2,948 | +83.5% |
| Total equity and liabilities | 10/49 | €21,227,179 | €21,518,019 | +€290,840 | +1.4% |
| Equity | 10/15 | €20,914,263 | €21,014,402 | +€100,139 | +0.5% |
| Contributions | 10/11 | €1,238,007 | €1,238,007 | = | 0.0% |
| Reserves | 13 | €19,676,250 | €19,776,250 | +€100,000 | +0.5% |
| Distributable reserves | 133 | €19,676,250 | €19,776,250 | +€100,000 | +0.5% |
| Profit (loss) carried forward | 14 | €6 | €146 | +€139 | +2213.8% |
| Amounts payable | 17/49 | €312,916 | €503,616 | +€190,700 | +60.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €312,916 | €503,616 | +€190,700 | +60.9% |
| Financial debts | 43 | €83,437 | €83,437 | = | 0.0% |
| Credit institutions | 430/8 | €83,437 | €83,437 | = | 0.0% |
| Trade debts | 44 | €7,473 | €69,130 | +€61,658 | +825.1% |
| Suppliers | 440/4 | €7,473 | €69,130 | +€61,658 | +825.1% |
| Advances received on contracts in progress | 46 | €63,085 | €0 | -€63,085 | -100.0% |
| Taxes, remuneration and social security | 45 | €35,356 | €35,527 | +€171 | +0.5% |
| Taxes | 450/3 | €35,356 | €35,527 | +€171 | +0.5% |
| Other amounts payable | 47/48 | €123,566 | €315,523 | +€191,957 | +155.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,770 | €29,419 | +€14,649 | +99.2% |
| Other operating charges | 640/8 | €5,723 | €1,618 | -€4,105 | -71.7% |
| Gross operating margin | 9900 | €164,350 | €111,927 | -€52,423 | -31.9% |
| Operating profit (loss) | 9901 | €143,857 | €80,890 | -€62,967 | -43.8% |
| Financial income | 75/76B | €22 | €73,046 | +€73,024 | +331624.9% |
| Recurring financial income | 75 | €22 | €73,046 | +€73,024 | +331624.9% |
| Financial charges | 65/66B | €46,570 | €28,110 | -€18,461 | -39.6% |
| Recurring financial charges | 65 | €46,570 | €28,110 | -€18,461 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €97,309 | €125,826 | +€28,518 | +29.3% |
| Income taxes | 67/77 | €24,260 | €25,687 | +€1,427 | +5.9% |
| Profit (loss) for the period | 9904 | €73,049 | €100,139 | +€27,091 | +37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,049 | €100,139 | +€27,091 | +37.1% |
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 12 October 2026 via checked.be.