KAVACO: 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.
KAVACO
Largest movements
- Tangible fixed assets -€9,673
down €9,673 (-4.2%), from €228,334 to €218,661
- Receivables within one year -€8,406
down €8,406 (-69.8%), from €12,036 to €3,630
of which Trade receivables: -€8,370
- Other debts -€9,031
down €9,031 (-33.8%), from €26,681 to €17,650
- Trade debts -€5,518
down €5,518 (-74.2%), from €7,439 to €1,921
- Tax, wage and social debts -€4,779
down €4,779 (-77.9%), from €6,132 to €1,353
- Reserves +€2,700
up €2,700 (+12.2%), from €22,072 to €24,772
of which Distributable reserves: +€2,700
- Gross operating margin +€6,274
up €6,274 (+23.5%), from €26,661 to €32,936
- Financial charges +€2,448
up €2,448 (+24.2%), from €10,110 to €12,558
- Taxes +€874
up €874 (+35.3%), from €2,475 to €3,349
- Depreciation +€339
up €339 (+3.6%), from €9,334 to €9,673
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 | €241,127 | €224,505 | -€16,623 | -6.9% |
| Fixed assets | 21/28 | €228,334 | €218,661 | -€9,673 | -4.2% |
| Tangible fixed assets | 22/27 | €228,334 | €218,661 | -€9,673 | -4.2% |
| Land and buildings | 22 | €228,334 | €218,661 | -€9,673 | -4.2% |
| Current assets | 29/58 | €12,794 | €5,844 | -€6,950 | -54.3% |
| Amounts receivable within one year | 40/41 | €12,036 | €3,630 | -€8,406 | -69.8% |
| Trade receivables | 40 | €12,000 | €3,630 | -€8,370 | -69.8% |
| Other amounts receivable | 41 | €36 | €0 | -€36 | -100.0% |
| Cash at bank and in hand | 54/58 | €758 | €1,914 | +€1,156 | +152.5% |
| Deferred charges and accrued income | 490/1 | €0 | €300 | +€300 | |
| Total equity and liabilities | 10/49 | €241,127 | €224,505 | -€16,623 | -6.9% |
| Equity | 10/15 | €40,875 | €43,580 | +€2,705 | +6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,072 | €24,772 | +€2,700 | +12.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €3,822 | €3,822 | = | 0.0% |
| Distributable reserves | 133 | €18,250 | €20,950 | +€2,700 | +14.8% |
| Profit (loss) carried forward | 14 | €203 | €208 | +€5 | +2.6% |
| Amounts payable | 17/49 | €200,252 | €180,924 | -€19,328 | -9.7% |
| Amounts payable after more than one year | 17 | €160,000 | €160,000 | = | 0.0% |
| Financial debts | 170/4 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,252 | €20,924 | -€19,328 | -48.0% |
| Trade debts | 44 | €7,439 | €1,921 | -€5,518 | -74.2% |
| Suppliers | 440/4 | €7,439 | €1,921 | -€5,518 | -74.2% |
| Taxes, remuneration and social security | 45 | €6,132 | €1,353 | -€4,779 | -77.9% |
| Taxes | 450/3 | €6,132 | €1,353 | -€4,779 | -77.9% |
| Other amounts payable | 47/48 | €26,681 | €17,650 | -€9,031 | -33.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,334 | €9,673 | +€339 | +3.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €4,360 | €4,650 | +€290 | +6.6% |
| Gross operating margin | 9900 | €26,661 | €32,936 | +€6,274 | +23.5% |
| Operating profit (loss) | 9901 | €12,967 | €18,613 | +€5,645 | +43.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €10,110 | €12,558 | +€2,448 | +24.2% |
| Recurring financial charges | 65 | €10,110 | €12,558 | +€2,448 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €2,858 | €6,055 | +€3,197 | +111.9% |
| Income taxes | 67/77 | €2,475 | €3,349 | +€874 | +35.3% |
| Profit (loss) for the period | 9904 | €382 | €2,705 | +€2,323 | +607.3% |
| Profit (loss) for the period to be appropriated | 9905 | €382 | €2,705 | +€2,323 | +607.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.