KAVERMA: 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.
KAVERMA
Largest movements
- Receivables within one year -€90,006
down €90,006 (-92.5%), from €97,329 to €7,323
of which Other amounts receivable: -€75,704
- Tangible fixed assets -€5,692
down €5,692 (-20.1%), from €28,320 to €22,628
- Cash -€4,055
down €4,055 (-38.6%), from €10,515 to €6,460
mainly Contributions, distributions and other (-€141,666) and Tax, wage and social debts (-€3,989)
- Profit (loss) carried forward -€108,441
down €108,441 (-62.1%), from €174,754 to €66,313
- Other debts +€11,667
up €11,667 (+28.0%), from €41,718 to €53,385
- Tax, wage and social debts -€3,989
down €3,989 (-18.8%), from €21,170 to €17,182
- Gross operating margin -€73,437
down €73,437 (-65.4%), from €112,314 to €38,878
- Taxes -€15,524
down €15,524 (-98.3%), from €15,798 to €274
- Depreciation +€5,552
up €5,552 (+3,967%), from €140 to €5,692
- Financial income -€2,796
down €2,796 (-60.9%), from €4,592 to €1,796
- Other operating charges +€1,236
up €1,236 (+981%), from €126 to €1,362
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.
Derived cash bridge
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 | €240,422 | €137,938 | -€102,484 | -42.6% |
| Fixed assets | 21/28 | €28,320 | €22,628 | -€5,692 | -20.1% |
| Tangible fixed assets | 22/27 | €28,320 | €22,628 | -€5,692 | -20.1% |
| Furniture and vehicles | 24 | €28,320 | €22,628 | -€5,692 | -20.1% |
| Current assets | 29/58 | €212,102 | €115,310 | -€96,792 | -45.6% |
| Amounts receivable within one year | 40/41 | €97,329 | €7,323 | -€90,006 | -92.5% |
| Trade receivables | 40 | €19,360 | €5,058 | -€14,302 | -73.9% |
| Other amounts receivable | 41 | €77,969 | €2,265 | -€75,704 | -97.1% |
| Current investments | 50/53 | €100,520 | €100,000 | -€520 | -0.5% |
| Cash at bank and in hand | 54/58 | €10,515 | €6,460 | -€4,055 | -38.6% |
| Deferred charges and accrued income | 490/1 | €3,738 | €1,527 | -€2,211 | -59.2% |
| Total equity and liabilities | 10/49 | €240,422 | €137,938 | -€102,484 | -42.6% |
| Equity | 10/15 | €175,754 | €67,313 | -€108,441 | -61.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,754 | €66,313 | -€108,441 | -62.1% |
| Amounts payable | 17/49 | €64,668 | €70,624 | +€5,956 | +9.2% |
| Amounts payable within one year | 42/48 | €64,668 | €70,624 | +€5,956 | +9.2% |
| Trade debts | 44 | €1,780 | €58 | -€1,722 | -96.7% |
| Suppliers | 440/4 | €1,780 | €58 | -€1,722 | -96.7% |
| Taxes, remuneration and social security | 45 | €21,170 | €17,182 | -€3,989 | -18.8% |
| Taxes | 450/3 | €21,170 | €17,182 | -€3,989 | -18.8% |
| Other amounts payable | 47/48 | €41,718 | €53,385 | +€11,667 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140 | €5,692 | +€5,552 | +3,967% |
| Other operating charges | 640/8 | €126 | €1,362 | +€1,236 | +981% |
| Gross operating margin | 9900 | €112,314 | €38,878 | -€73,437 | -65.4% |
| Operating profit (loss) | 9901 | €112,048 | €31,824 | -€80,225 | -71.6% |
| Financial income | 75/76B | €4,592 | €1,796 | -€2,796 | -60.9% |
| Recurring financial income | 75 | €4,592 | €1,796 | -€2,796 | -60.9% |
| Financial charges | 65/66B | €119 | €120 | +€1 | +1.1% |
| Recurring financial charges | 65 | €119 | €120 | +€1 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €116,521 | €33,500 | -€83,022 | -71.3% |
| Income taxes | 67/77 | €15,798 | €274 | -€15,524 | -98.3% |
| Profit (loss) for the period | 9904 | €100,723 | €33,225 | -€67,497 | -67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,723 | €33,225 | -€67,497 | -67.0% |
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 18 October 2026 via checked.be.