KAVERLAM: what changed
KAVERLAM
Largest movements
- Tangible fixed assets +€854,796
up €854,796 (+8,498%), from €10,059 to €864,855
of which Other tangible fixed assets: +€709,571
- Receivables within one year -€95,074
down €95,074 (-37.4%), from €254,364 to €159,290
of which Other amounts receivable: -€95,145
- Stocks and contracts +€46,923
up €46,923 (+482%), from €9,740 to €56,663
- Intangible fixed assets -€20,280
no longer reported in 2025 (was €20,280)
- Other debts +€1.0m
new in 2025: €1.0m
- Profit (loss) carried forward -€144,633
down €144,633, from €10,752 to -€133,880
- Trade debts -€123,950
down €123,950 (-64.1%), from €193,520 to €69,570
- Tax, wage and social debts +€37,363
up €37,363 (+53.6%), from €69,766 to €107,129
of which Remuneration and social security: +€27,552
- Gross operating margin +€181,196
up €181,196 (+80.2%), from €226,045 to €407,242
- Staff costs +€150,922
up €150,922 (+59.2%), from €254,845 to €405,767
- Depreciation +€98,816
up €98,816 (+859%), from €11,510 to €110,326
- Financial charges +€21,007
up €21,007 (+8,029%), from €262 to €21,268
of which Financial charges: +€20,987
- Financial income +€9,061
up €9,061 (+228%), from €3,979 to €13,040
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €294,443 | €1,091,015 | +€796,571 | +271% |
| Fixed assets | 21/28 | €30,339 | €864,855 | +€834,516 | +2,751% |
| Intangible fixed assets | 21 | €20,280 | - | -€20,280 | |
| Tangible fixed assets | 22/27 | €10,059 | €864,855 | +€854,796 | +8,498% |
| Plant, machinery and equipment | 23 | €8,561 | €141,068 | +€132,506 | +1,548% |
| Furniture and vehicles | 24 | €179 | €12,899 | +€12,719 | +7,095% |
| Other tangible fixed assets | 26 | €1,318 | €710,889 | +€709,571 | +53,819% |
| Current assets | 29/58 | €264,104 | €226,159 | -€37,945 | -14.4% |
| Stocks and contracts in progress | 3 | €9,740 | €56,663 | +€46,923 | +482% |
| Stocks | 30/36 | €9,740 | €56,663 | +€46,923 | +482% |
| Amounts receivable within one year | 40/41 | €254,364 | €159,290 | -€95,074 | -37.4% |
| Trade receivables | 40 | €158,845 | €158,916 | +€71 | 0.0% |
| Other amounts receivable | 41 | €95,519 | €374 | -€95,145 | -99.6% |
| Cash at bank and in hand | 54/58 | - | €10,206 | +€10,206 | |
| Total equity and liabilities | 10/49 | €294,443 | €1,091,015 | +€796,571 | +271% |
| Equity | 10/15 | €31,157 | -€113,475 | -€144,633 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,752 | -€133,880 | -€144,633 | |
| Amounts payable | 17/49 | €263,286 | €1,204,490 | +€941,204 | +357% |
| Amounts payable within one year | 42/48 | €263,286 | €1,204,490 | +€941,204 | +357% |
| Trade debts | 44 | €193,520 | €69,570 | -€123,950 | -64.1% |
| Suppliers | 440/4 | €193,520 | €69,570 | -€123,950 | -64.1% |
| Taxes, remuneration and social security | 45 | €69,766 | €107,129 | +€37,363 | +53.6% |
| Taxes | 450/3 | €22,725 | €32,536 | +€9,811 | +43.2% |
| Remuneration and social security | 454/9 | €47,042 | €74,593 | +€27,552 | +58.6% |
| Other amounts payable | 47/48 | - | €1,027,791 | +€1.0m | |
| Non-recurring operating income | 76A | - | €6,750 | +€6,750 | |
| Remuneration, social security and pensions | 62 | €254,845 | €405,767 | +€150,922 | +59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,510 | €110,326 | +€98,816 | +859% |
| Other operating charges | 640/8 | €764 | €4,639 | +€3,875 | +507% |
| Non-recurring operating charges | 66A | - | €22,823 | +€22,823 | |
| Gross operating margin | 9900 | €226,045 | €407,242 | +€181,196 | +80.2% |
| Operating profit (loss) | 9901 | -€41,074 | -€136,314 | -€95,240 | -232% |
| Financial income | 75/76B | €3,979 | €13,040 | +€9,061 | +228% |
| Recurring financial income | 75 | €3,979 | €13,040 | +€9,061 | +228% |
| Financial charges | 65/66B | €262 | €21,268 | +€21,007 | +8,029% |
| Recurring financial charges | 65 | €262 | €21,248 | +€20,987 | +8,022% |
| Non-recurring financial charges | 66B | - | €20 | +€20 | |
| Profit (loss) for the period before taxes | 9903 | -€37,357 | -€144,542 | -€107,186 | -287% |
| Income taxes | 67/77 | €86 | €90 | +€5 | +5.7% |
| Profit (loss) for the period | 9904 | -€37,442 | -€144,633 | -€107,191 | -286% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,442 | -€144,633 | -€107,191 | -286% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.