KAVE: 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.
KAVE
Largest movements
- Cash +€130,770
up €130,770 (+78.6%), from €166,338 to €297,108
mainly Current investments (+€100,000) and Depreciation (+€28,354)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€16,801
down €16,801 (-2.3%), from €721,696 to €704,896
of which Land and buildings: -€16,045
- Other debts +€10,867
up €10,867 (+2.8%), from €384,772 to €395,639
- Gross operating margin -€16,765
down €16,765 (-25.7%), from €65,206 to €48,440
- Financial charges -€13,646
down €13,646 (-46.8%), from €29,159 to €15,513
- Depreciation +€2,203
up €2,203 (+8.4%), from €26,152 to €28,354
- Taxes -€1,890
down €1,890 (-91.0%), from €2,076 to €186
- Other operating charges +€887
up €887 (+13.2%), from €6,730 to €7,617
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 | €1,000,715 | €1,008,475 | +€7,761 | +0.8% |
| Fixed assets | 21/28 | €721,796 | €704,996 | -€16,801 | -2.3% |
| Tangible fixed assets | 22/27 | €721,696 | €704,896 | -€16,801 | -2.3% |
| Land and buildings | 22 | €715,384 | €699,339 | -€16,045 | -2.2% |
| Furniture and vehicles | 24 | €6,312 | €5,557 | -€756 | -12.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €278,919 | €303,480 | +€24,561 | +8.8% |
| Amounts receivable within one year | 40/41 | €10,439 | €5,804 | -€4,636 | -44.4% |
| Trade receivables | 40 | - | €5,446 | +€5,446 | |
| Other amounts receivable | 41 | €10,439 | €357 | -€10,082 | -96.6% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €166,338 | €297,108 | +€130,770 | +78.6% |
| Deferred charges and accrued income | 490/1 | €2,141 | €568 | -€1,573 | -73.5% |
| Total equity and liabilities | 10/49 | €1,000,715 | €1,008,475 | +€7,761 | +0.8% |
| Equity | 10/15 | €606,523 | €606,921 | +€399 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €587,923 | €588,321 | +€399 | +0.1% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €572,923 | €573,321 | +€399 | +0.1% |
| Amounts payable | 17/49 | €394,192 | €401,554 | +€7,362 | +1.9% |
| Amounts payable within one year | 42/48 | €394,092 | €401,163 | +€7,071 | +1.8% |
| Trade debts | 44 | €678 | €644 | -€33 | -4.9% |
| Suppliers | 440/4 | €678 | €644 | -€33 | -4.9% |
| Taxes, remuneration and social security | 45 | €8,643 | €4,880 | -€3,763 | -43.5% |
| Taxes | 450/3 | €8,643 | €4,880 | -€3,763 | -43.5% |
| Other amounts payable | 47/48 | €384,772 | €395,639 | +€10,867 | +2.8% |
| Accrued charges and deferred income | 492/3 | €100 | €391 | +€291 | +291.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,152 | €28,354 | +€2,203 | +8.4% |
| Other operating charges | 640/8 | €6,730 | €7,617 | +€887 | +13.2% |
| Gross operating margin | 9900 | €65,206 | €48,440 | -€16,765 | -25.7% |
| Operating profit (loss) | 9901 | €32,324 | €12,469 | -€19,855 | -61.4% |
| Financial income | 75/76B | €3,358 | €3,628 | +€270 | +8.0% |
| Recurring financial income | 75 | €3,358 | €3,628 | +€270 | +8.0% |
| Financial charges | 65/66B | €29,159 | €15,513 | -€13,646 | -46.8% |
| Recurring financial charges | 65 | €29,159 | €15,513 | -€13,646 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €6,523 | €585 | -€5,939 | -91.0% |
| Income taxes | 67/77 | €2,076 | €186 | -€1,890 | -91.0% |
| Profit (loss) for the period | 9904 | €4,448 | €399 | -€4,049 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,448 | €399 | -€4,049 | -91.0% |
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 30 September 2026 via checked.be.