KAVEMAN: 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.
KAVEMAN
Largest movements
- Receivables within one year +€12,149
up €12,149 (+50.0%), from €24,289 to €36,438
of which Other amounts receivable: +€12,149
- Cash -€7,526
down €7,526 (-29.2%), from €25,754 to €18,227
mainly Receivables within one year (-€12,149) and Tax, wage and social debts (-€10,040)
- Tangible fixed assets -€604
down €604 (-25.2%), from €2,395 to €1,791
- Reserves +€15,477
up €15,477 (+54.7%), from €28,273 to €43,750
- Tax, wage and social debts -€10,040
down €10,040 (-49.5%), from €20,282 to €10,242
- Other debts -€859
down €859 (-100.0%), from €859 to €0
- Depreciation -€1,944
down €1,944 (-76.3%), from €2,548 to €604
- Gross operating margin -€1,020
down €1,020 (-4.8%), from €21,139 to €20,119
- Other operating charges -€705
down €705 (-47.4%), from €1,487 to €782
- Financial income +€680
up €680 (+53.3%), from €1,276 to €1,956
- Taxes +€502
up €502 (+10.8%), from €4,642 to €5,144
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 | €53,899 | €58,413 | +€4,513 | +8.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €2,395 | €1,791 | -€604 | -25.2% |
| Tangible fixed assets | 22/27 | €2,395 | €1,791 | -€604 | -25.2% |
| Furniture and vehicles | 24 | €2,395 | €1,791 | -€604 | -25.2% |
| Current assets | 29/58 | €51,504 | €56,621 | +€5,117 | +9.9% |
| Amounts receivable within one year | 40/41 | €24,289 | €36,438 | +€12,149 | +50.0% |
| Trade receivables | 40 | €600 | €600 | = | 0.0% |
| Other amounts receivable | 41 | €23,689 | €35,838 | +€12,149 | +51.3% |
| Cash at bank and in hand | 54/58 | €25,754 | €18,227 | -€7,526 | -29.2% |
| Deferred charges and accrued income | 490/1 | €1,462 | €1,956 | +€495 | +33.8% |
| Total equity and liabilities | 10/49 | €53,899 | €58,413 | +€4,513 | +8.4% |
| Equity | 10/15 | €32,273 | €47,750 | +€15,477 | +48.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €28,273 | €43,750 | +€15,477 | +54.7% |
| Distributable reserves | 133 | €28,273 | €43,750 | +€15,477 | +54.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,626 | €10,663 | -€10,964 | -50.7% |
| Amounts payable within one year | 42/48 | €21,626 | €10,663 | -€10,964 | -50.7% |
| Trade debts | 44 | €485 | €420 | -€65 | -13.4% |
| Suppliers | 440/4 | €485 | €420 | -€65 | -13.4% |
| Taxes, remuneration and social security | 45 | €20,282 | €10,242 | -€10,040 | -49.5% |
| Taxes | 450/3 | €20,282 | €10,242 | -€10,040 | -49.5% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,548 | €604 | -€1,944 | -76.3% |
| Other operating charges | 640/8 | €1,487 | €782 | -€705 | -47.4% |
| Gross operating margin | 9900 | €21,139 | €20,119 | -€1,020 | -4.8% |
| Operating profit (loss) | 9901 | €17,104 | €18,733 | +€1,629 | +9.5% |
| Financial income | 75/76B | €1,276 | €1,956 | +€680 | +53.3% |
| Recurring financial income | 75 | €1,276 | €1,956 | +€680 | +53.3% |
| Financial charges | 65/66B | €200 | €69 | -€131 | -65.5% |
| Recurring financial charges | 65 | €200 | €69 | -€131 | -65.5% |
| Profit (loss) for the period before taxes | 9903 | €18,180 | €20,621 | +€2,440 | +13.4% |
| Income taxes | 67/77 | €4,642 | €5,144 | +€502 | +10.8% |
| Profit (loss) for the period | 9904 | €13,539 | €15,477 | +€1,939 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,539 | €15,477 | +€1,939 | +14.3% |
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 7 October 2026 via checked.be.