KAVENA: 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.
KAVENA
Largest movements
- Tangible fixed assets -€3,695
down €3,695 (-4.8%), from €77,604 to €73,909
- Current portion of long-term debt +€6,297
up €6,297 (+13.9%), from €45,451 to €51,748
- Debts after one year -€5,702
down €5,702 (-13.6%), from €42,021 to €36,319
- Profit (loss) carried forward -€4,199
down €4,199 (-14.8%), from -€28,415 to -€32,614
- Taxes -€2,423
no longer reported in 2025 (was €2,423)
- Purchases and services -€1,880
no longer reported in 2025 (was €1,880)
- Gross operating margin -€650
down €650 (-21.9%), from €2,974 to €2,324
- Other operating charges +€180
up €180 (+14.0%), from €1,284 to €1,464
- Financial charges -€151
down €151 (-10.0%), from €1,515 to €1,364
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 | €77,657 | €74,052 | -€3,604 | -4.6% |
| Fixed assets | 21/28 | €77,604 | €73,909 | -€3,695 | -4.8% |
| Tangible fixed assets | 22/27 | €77,604 | €73,909 | -€3,695 | -4.8% |
| Land and buildings | 22 | €77,604 | €73,909 | -€3,695 | -4.8% |
| Current assets | 29/58 | €53 | €143 | +€91 | +171.1% |
| Cash at bank and in hand | 54/58 | €53 | €143 | +€91 | +171.1% |
| Total equity and liabilities | 10/49 | €77,657 | €74,052 | -€3,604 | -4.6% |
| Equity | 10/15 | -€9,815 | -€14,014 | -€4,199 | -42.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,415 | -€32,614 | -€4,199 | -14.8% |
| Amounts payable | 17/49 | €87,472 | €88,067 | +€595 | +0.7% |
| Amounts payable after more than one year | 17 | €42,021 | €36,319 | -€5,702 | -13.6% |
| Financial debts | 170/4 | €42,021 | €36,319 | -€5,702 | -13.6% |
| Amounts payable within one year | 42/48 | €45,451 | €51,748 | +€6,297 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €45,451 | €51,748 | +€6,297 | +13.9% |
| Non-recurring operating income | 76A | €4,854 | - | -€4,854 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,880 | - | -€1,880 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,695 | €3,695 | = | 0.0% |
| Other operating charges | 640/8 | €1,284 | €1,464 | +€180 | +14.0% |
| Gross operating margin | 9900 | €2,974 | €2,324 | -€650 | -21.9% |
| Operating profit (loss) | 9901 | -€2,005 | -€2,835 | -€830 | -41.4% |
| Financial charges | 65/66B | €1,515 | €1,364 | -€151 | -10.0% |
| Recurring financial charges | 65 | €1,515 | €1,364 | -€151 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,520 | -€4,199 | -€679 | -19.3% |
| Income taxes | 67/77 | €2,423 | - | -€2,423 | |
| Profit (loss) for the period | 9904 | -€5,943 | -€4,199 | +€1,744 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,943 | -€4,199 | +€1,744 | +29.3% |
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 10 October 2026 via checked.be.