KAVANKO: 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.
KAVANKO
Largest movements
- Cash -€88,333
down €88,333 (-48.2%), from €183,338 to €95,005
mainly Contributions, distributions and other (-€50,000) and Receivables within one year (-€30,548)
- Receivables within one year +€30,548
up €30,548 (+78.0%), from €39,183 to €69,731
of which Other amounts receivable: +€30,548
- Current investments +€16,772
up €16,772 (+4.9%), from €340,608 to €357,380
- Reserves -€40,000
down €40,000 (-10.2%), from €391,859 to €351,859
of which Distributable reserves: -€40,000
- Tax, wage and social debts -€6,762
down €6,762 (-38.9%), from €17,373 to €10,611
- Profit (loss) carried forward +€6,050
up €6,050 (+4.1%), from €147,168 to €153,218
- Turnover -€127,108
down €127,108 (-73.9%), from €172,027 to €44,919
- Gross operating margin -€125,500
down €125,500 (-83.1%), from €150,991 to €25,491
- Taxes -€34,367
down €34,367 (-65.9%), from €52,122 to €17,755
- Financial income +€8,053
up €8,053 (+140.3%), from €5,739 to €13,792
- Staff costs -€2,763
down €2,763 (-36.0%), from €7,677 to €4,914
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 | €563,129 | €522,116 | -€41,013 | -7.3% |
| Current assets | 29/58 | €563,129 | €522,116 | -€41,013 | -7.3% |
| Amounts receivable within one year | 40/41 | €39,183 | €69,731 | +€30,548 | +78.0% |
| Trade receivables | 40 | €550 | €550 | = | 0.0% |
| Other amounts receivable | 41 | €38,633 | €69,181 | +€30,548 | +79.1% |
| Current investments | 50/53 | €340,608 | €357,380 | +€16,772 | +4.9% |
| Cash at bank and in hand | 54/58 | €183,338 | €95,005 | -€88,333 | -48.2% |
| Total equity and liabilities | 10/49 | €563,129 | €522,116 | -€41,013 | -7.3% |
| Equity | 10/15 | €545,224 | €511,274 | -€33,950 | -6.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Capital | 10 | €6,197 | €6,197 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €391,859 | €351,859 | -€40,000 | -10.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €390,000 | €350,000 | -€40,000 | -10.3% |
| Profit (loss) carried forward | 14 | €147,168 | €153,218 | +€6,050 | +4.1% |
| Amounts payable | 17/49 | €17,905 | €10,842 | -€7,063 | -39.4% |
| Amounts payable within one year | 42/48 | €17,905 | €10,842 | -€7,063 | -39.4% |
| Trade debts | 44 | €532 | €231 | -€301 | -56.6% |
| Suppliers | 440/4 | €532 | €231 | -€301 | -56.6% |
| Taxes, remuneration and social security | 45 | €17,373 | €10,611 | -€6,762 | -38.9% |
| Taxes | 450/3 | €17,373 | €10,611 | -€6,762 | -38.9% |
| Turnover | 70 | €172,027 | €44,919 | -€127,108 | -73.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €21,036 | €19,428 | -€1,608 | -7.6% |
| Remuneration, social security and pensions | 62 | €7,677 | €4,914 | -€2,763 | -36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Gross operating margin | 9900 | €150,991 | €25,491 | -€125,500 | -83.1% |
| Operating profit (loss) | 9901 | €143,314 | €20,577 | -€122,737 | -85.6% |
| Financial income | 75/76B | €5,739 | €13,792 | +€8,053 | +140.3% |
| Recurring financial income | 75 | €5,739 | €13,792 | +€8,053 | +140.3% |
| Financial charges | 65/66B | €540 | €564 | +€24 | +4.4% |
| Recurring financial charges | 65 | €540 | €564 | +€24 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €148,513 | €33,805 | -€114,708 | -77.2% |
| Income taxes | 67/77 | €52,122 | €17,755 | -€34,367 | -65.9% |
| Profit (loss) for the period | 9904 | €96,391 | €16,050 | -€80,341 | -83.3% |
| Profit (loss) for the period to be appropriated | 9905 | €96,391 | €16,050 | -€80,341 | -83.3% |
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 9 October 2026 via checked.be.