Kavik: 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.
Kavik
Largest movements
- Receivables after one year +€34,713
new in 2025: €34,713
- Cash -€30,812
down €30,812 (-80.5%), from €38,269 to €7,457
mainly Other debts (-€46,763) and Receivables after one year (-€34,713)
- Receivables within one year +€16,549
new in 2025: €16,549
- Profit (loss) carried forward +€72,155
up €72,155 (+117.1%), from €61,595 to €133,750
- Other debts -€46,763
down €46,763 (-64.0%), from €73,025 to €26,262
- Debts after one year -€9,981
down €9,981 (-31.9%), from €31,283 to €21,301
- Financial income +€34,827
new in 2025: €34,827
- Gross operating margin +€15,772
up €15,772 (+32.9%), from €47,882 to €63,654
- Taxes +€5,406
up €5,406 (+54.4%), from €9,945 to €15,351
- Financial charges -€3,272
down €3,272 (-29.6%), from €11,073 to €7,800
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 | €203,804 | €222,111 | +€18,308 | +9.0% |
| Fixed assets | 21/28 | €164,833 | €163,254 | -€1,579 | -1.0% |
| Tangible fixed assets | 22/27 | €4,833 | €3,254 | -€1,579 | -32.7% |
| Land and buildings | 22 | €2,368 | €1,869 | -€499 | -21.1% |
| Plant, machinery and equipment | 23 | €1,969 | €1,385 | -€584 | -29.7% |
| Furniture and vehicles | 24 | €496 | - | -€496 | |
| Financial fixed assets | 28 | €160,000 | €160,000 | = | 0.0% |
| Current assets | 29/58 | €38,971 | €58,858 | +€19,887 | +51.0% |
| Amounts receivable after more than one year | 29 | - | €34,713 | +€34,713 | |
| Other amounts receivable | 291 | - | €34,713 | +€34,713 | |
| Amounts receivable within one year | 40/41 | - | €16,549 | +€16,549 | |
| Trade receivables | 40 | - | €16,549 | +€16,549 | |
| Cash at bank and in hand | 54/58 | €38,269 | €7,457 | -€30,812 | -80.5% |
| Deferred charges and accrued income | 490/1 | €702 | €140 | -€562 | -80.1% |
| Total equity and liabilities | 10/49 | €203,804 | €222,111 | +€18,308 | +9.0% |
| Equity | 10/15 | €80,220 | €152,375 | +€72,155 | +89.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25 | €25 | = | 0.0% |
| Distributable reserves | 133 | €25 | €25 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,595 | €133,750 | +€72,155 | +117.1% |
| Amounts payable | 17/49 | €123,584 | €69,736 | -€53,848 | -43.6% |
| Amounts payable after more than one year | 17 | €31,283 | €21,301 | -€9,981 | -31.9% |
| Financial debts | 170/4 | €31,283 | €21,301 | -€9,981 | -31.9% |
| Amounts payable within one year | 42/48 | €92,301 | €48,435 | -€43,866 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €9,560 | €9,981 | +€421 | +4.4% |
| Trade debts | 44 | €3,058 | €4,169 | +€1,111 | +36.3% |
| Suppliers | 440/4 | €3,058 | €4,169 | +€1,111 | +36.3% |
| Taxes, remuneration and social security | 45 | €6,658 | €8,022 | +€1,364 | +20.5% |
| Taxes | 450/3 | - | €8,022 | +€8,022 | |
| Remuneration and social security | 454/9 | €6,658 | - | -€6,658 | |
| Other amounts payable | 47/48 | €73,025 | €26,262 | -€46,763 | -64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,765 | €1,579 | -€186 | -10.5% |
| Other operating charges | 640/8 | €1,074 | €1,596 | +€522 | +48.7% |
| Gross operating margin | 9900 | €47,882 | €63,654 | +€15,772 | +32.9% |
| Operating profit (loss) | 9901 | €45,043 | €60,479 | +€15,435 | +34.3% |
| Financial income | 75/76B | - | €34,827 | +€34,827 | |
| Recurring financial income | 75 | - | €34,827 | +€34,827 | |
| Financial charges | 65/66B | €11,073 | €7,800 | -€3,272 | -29.6% |
| Recurring financial charges | 65 | €11,073 | €7,800 | -€3,272 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €33,971 | €87,506 | +€53,535 | +157.6% |
| Income taxes | 67/77 | €9,945 | €15,351 | +€5,406 | +54.4% |
| Profit (loss) for the period | 9904 | €24,026 | €72,155 | +€48,130 | +200.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,026 | €72,155 | +€48,130 | +200.3% |
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 2 October 2026 via checked.be.