KAVIN: 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.
KAVIN
Largest movements
- Cash +€386,519
up €386,519 (+104.8%), from €368,762 to €755,281
mainly Depreciation (+€150,973) and Net result for the year (+€136,938)
- Tangible fixed assets -€275,280
down €275,280 (-11.6%), from €2.4m to €2.1m
- Reserves +€129,522
up €129,522 (+227.4%), from €56,966 to €186,489
of which Tax-exempt reserves: +€129,122
- Trade debts -€58,573
down €58,573 (-92.1%), from €63,631 to €5,059
- Provisions +€43,041
new in 2024: €43,041
- Gross operating margin +€183,133
up €183,133 (+75.6%), from €242,316 to €425,450
- Depreciation +€61,284
up €61,284 (+68.3%), from €89,689 to €150,973
- Taxes -€14,070
down €14,070 (-80.7%), from €17,431 to €3,362
- Staff costs +€5,661
up €5,661 (+8.0%), from €70,400 to €76,061
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,833,748 | €2,953,263 | +€119,514 | +4.2% |
| Fixed assets | 21/28 | €2,377,390 | €2,102,110 | -€275,280 | -11.6% |
| Tangible fixed assets | 22/27 | €2,377,390 | €2,102,110 | -€275,280 | -11.6% |
| Land and buildings | 22 | €2,377,390 | €2,102,110 | -€275,280 | -11.6% |
| Current assets | 29/58 | €456,359 | €851,153 | +€394,794 | +86.5% |
| Amounts receivable within one year | 40/41 | €87,597 | €95,872 | +€8,275 | +9.4% |
| Trade receivables | 40 | €87,597 | €93,707 | +€6,110 | +7.0% |
| Other amounts receivable | 41 | €0 | €2,165 | +€2,165 | |
| Cash at bank and in hand | 54/58 | €368,762 | €755,281 | +€386,519 | +104.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,833,748 | €2,953,263 | +€119,514 | +4.2% |
| Equity | 10/15 | €2,738,830 | €2,875,769 | +€136,938 | +5.0% |
| Contributions | 10/11 | €1,700,000 | €1,700,000 | = | 0.0% |
| Capital | 10 | €1,700,000 | €1,700,000 | = | 0.0% |
| Issued capital | 100 | €1,700,000 | €1,700,000 | = | 0.0% |
| Reserves | 13 | €56,966 | €186,489 | +€129,522 | +227.4% |
| Non-distributable reserves | 130/1 | €56,900 | €57,300 | +€400 | +0.7% |
| Legal reserve | 130 | €56,900 | €57,300 | +€400 | +0.7% |
| Tax-exempt reserves | 132 | - | €129,122 | +€129,122 | |
| Distributable reserves | 133 | €66 | €66 | = | 0.0% |
| Profit (loss) carried forward | 14 | €981,864 | €989,280 | +€7,416 | +0.8% |
| Provisions and deferred taxes | 16 | - | €43,041 | +€43,041 | |
| Deferred taxes | 168 | - | €43,041 | +€43,041 | |
| Amounts payable | 17/49 | €94,918 | €34,453 | -€60,465 | -63.7% |
| Amounts payable within one year | 42/48 | €93,358 | €34,453 | -€58,905 | -63.1% |
| Trade debts | 44 | €63,631 | €5,059 | -€58,573 | -92.1% |
| Suppliers | 440/4 | €63,631 | €5,059 | -€58,573 | -92.1% |
| Taxes, remuneration and social security | 45 | €29,727 | €29,395 | -€332 | -1.1% |
| Taxes | 450/3 | €19,268 | €18,819 | -€449 | -2.3% |
| Remuneration and social security | 454/9 | €10,459 | €10,576 | +€117 | +1.1% |
| Accrued charges and deferred income | 492/3 | €1,560 | €0 | -€1,560 | -100.0% |
| Non-recurring operating income | 76A | €5,100 | €186,810 | +€181,710 | +3562.9% |
| Remuneration, social security and pensions | 62 | €70,400 | €76,061 | +€5,661 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,689 | €150,973 | +€61,284 | +68.3% |
| Other operating charges | 640/8 | €13,722 | €14,753 | +€1,031 | +7.5% |
| Gross operating margin | 9900 | €242,316 | €425,450 | +€183,133 | +75.6% |
| Operating profit (loss) | 9901 | €68,506 | €183,663 | +€115,157 | +168.1% |
| Financial charges | 65/66B | €379 | €322 | -€57 | -15.0% |
| Recurring financial charges | 65 | €379 | €322 | -€57 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €68,127 | €183,340 | +€115,214 | +169.1% |
| Transfer from deferred taxes | 780 | - | €3,662 | +€3,662 | |
| Transfer to deferred taxes | 680 | - | €46,703 | +€46,703 | |
| Income taxes | 67/77 | €17,431 | €3,362 | -€14,070 | -80.7% |
| Profit (loss) for the period | 9904 | €50,696 | €136,938 | +€86,243 | +170.1% |
| Transfer from tax-exempt reserves | 789 | - | €10,985 | +€10,985 | |
| Transfer to tax-exempt reserves | 689 | - | €140,108 | +€140,108 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,696 | €7,816 | -€42,880 | -84.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.