KAVELAARS: 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.
KAVELAARS
Largest movements
- Receivables within one year +€21,257
up €21,257 (+8.1%), from €261,159 to €282,416
of which Trade receivables: +€21,257
- Other debts +€23,262
up €23,262 (+3.3%), from €708,632 to €731,893
- Reserves -€17,021
down €17,021 (-2.4%), from €722,548 to €705,527
of which Distributable reserves: -€17,021
- Gross operating margin +€8,121
up €8,121 (+7.6%), from €106,176 to €114,297
- Staff costs +€2,500
up €2,500 (+3.5%), from €71,708 to €74,207
- Financial charges +€2,311
up €2,311 (+8.5%), from €27,288 to €29,600
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 | €1,486,461 | €1,504,703 | +€18,242 | +1.2% |
| Fixed assets | 21/28 | €1,221,250 | €1,221,250 | = | 0.0% |
| Financial fixed assets | 28 | €1,221,250 | €1,221,250 | = | 0.0% |
| Current assets | 29/58 | €265,211 | €283,453 | +€18,242 | +6.9% |
| Amounts receivable within one year | 40/41 | €261,159 | €282,416 | +€21,257 | +8.1% |
| Trade receivables | 40 | €259,844 | €281,101 | +€21,257 | +8.2% |
| Other amounts receivable | 41 | €1,316 | €1,316 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,422 | €490 | -€1,932 | -79.8% |
| Deferred charges and accrued income | 490/1 | €1,629 | €547 | -€1,082 | -66.4% |
| Total equity and liabilities | 10/49 | €1,486,461 | €1,504,703 | +€18,242 | +1.2% |
| Equity | 10/15 | €741,148 | €724,127 | -€17,021 | -2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €722,548 | €705,527 | -€17,021 | -2.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €720,688 | €703,667 | -€17,021 | -2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €745,313 | €780,576 | +€35,263 | +4.7% |
| Amounts payable within one year | 42/48 | €739,852 | €768,236 | +€28,384 | +3.8% |
| Trade debts | 44 | €8,039 | €9,602 | +€1,563 | +19.4% |
| Suppliers | 440/4 | €8,039 | €9,602 | +€1,563 | +19.4% |
| Taxes, remuneration and social security | 45 | €23,181 | €26,740 | +€3,560 | +15.4% |
| Taxes | 450/3 | €12,661 | €14,472 | +€1,811 | +14.3% |
| Remuneration and social security | 454/9 | €10,520 | €12,269 | +€1,749 | +16.6% |
| Other amounts payable | 47/48 | €708,632 | €731,893 | +€23,262 | +3.3% |
| Accrued charges and deferred income | 492/3 | €5,461 | €12,340 | +€6,879 | +126.0% |
| Remuneration, social security and pensions | 62 | €71,708 | €74,207 | +€2,500 | +3.5% |
| Other operating charges | 640/8 | €1,171 | €1,197 | +€26 | +2.2% |
| Gross operating margin | 9900 | €106,176 | €114,297 | +€8,121 | +7.6% |
| Operating profit (loss) | 9901 | €33,298 | €38,893 | +€5,595 | +16.8% |
| Financial income | 75/76B | - | €46 | +€46 | |
| Recurring financial income | 75 | - | €46 | +€46 | |
| Financial charges | 65/66B | €27,288 | €29,600 | +€2,311 | +8.5% |
| Recurring financial charges | 65 | €27,288 | €29,600 | +€2,311 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €6,009 | €9,339 | +€3,330 | +55.4% |
| Income taxes | 67/77 | €1,684 | €2,710 | +€1,026 | +60.9% |
| Profit (loss) for the period | 9904 | €4,325 | €6,629 | +€2,304 | +53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,325 | €6,629 | +€2,304 | +53.3% |
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 4 October 2026 via checked.be.