KAWADA: 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.
KAWADA
Largest movements
- Cash +€5,424
up €5,424 (+5.1%), from €105,939 to €111,363
mainly Depreciation (+€5,524) and Trade debts (+€5,048)
- Receivables within one year -€3,202
down €3,202 (-37.5%), from €8,547 to €5,345
of which Other amounts receivable: -€3,747
- Stocks and contracts -€2,456
down €2,456 (-42.7%), from €5,753 to €3,297
- Trade debts +€5,048
up €5,048 (+22.2%), from €22,750 to €27,799
- Profit (loss) carried forward -€4,125
down €4,125 (-63.2%), from -€6,525 to -€10,649
- Tax, wage and social debts -€1,516
down €1,516 (-4.1%), from €37,017 to €35,501
of which Remuneration and social security: -€2,605
- Staff costs +€23,643
up €23,643 (+11.3%), from €209,108 to €232,750
- Gross operating margin +€16,840
up €16,840 (+7.6%), from €221,139 to €237,978
- Depreciation -€3,098
down €3,098 (-35.9%), from €8,622 to €5,524
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 | €138,008 | €138,538 | +€530 | +0.4% |
| Fixed assets | 21/28 | €11,243 | €10,911 | -€332 | -3.0% |
| Tangible fixed assets | 22/27 | €10,005 | €10,436 | +€431 | +4.3% |
| Plant, machinery and equipment | 23 | €2,607 | €6,686 | +€4,079 | +156.5% |
| Other tangible fixed assets | 26 | €7,397 | €3,750 | -€3,648 | -49.3% |
| Financial fixed assets | 28 | €1,238 | €475 | -€763 | -61.6% |
| Current assets | 29/58 | €126,765 | €127,627 | +€862 | +0.7% |
| Stocks and contracts in progress | 3 | €5,753 | €3,297 | -€2,456 | -42.7% |
| Stocks | 30/36 | €5,753 | €3,297 | -€2,456 | -42.7% |
| Amounts receivable within one year | 40/41 | €8,547 | €5,345 | -€3,202 | -37.5% |
| Trade receivables | 40 | €3,107 | €3,652 | +€545 | +17.5% |
| Other amounts receivable | 41 | €5,441 | €1,694 | -€3,747 | -68.9% |
| Cash at bank and in hand | 54/58 | €105,939 | €111,363 | +€5,424 | +5.1% |
| Deferred charges and accrued income | 490/1 | €6,527 | €7,622 | +€1,096 | +16.8% |
| Total equity and liabilities | 10/49 | €138,008 | €138,538 | +€530 | +0.4% |
| Equity | 10/15 | €77,304 | €73,179 | -€4,125 | -5.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €43,829 | €43,829 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | - | -€4,000 | |
| Reserves not available under the articles | 1311 | €4,000 | - | -€4,000 | |
| Distributable reserves | 133 | €39,829 | €43,829 | +€4,000 | +10.0% |
| Profit (loss) carried forward | 14 | -€6,525 | -€10,649 | -€4,125 | -63.2% |
| Amounts payable | 17/49 | €60,704 | €65,359 | +€4,655 | +7.7% |
| Amounts payable within one year | 42/48 | €60,704 | €64,095 | +€3,391 | +5.6% |
| Trade debts | 44 | €22,750 | €27,799 | +€5,048 | +22.2% |
| Suppliers | 440/4 | €22,750 | €27,799 | +€5,048 | +22.2% |
| Taxes, remuneration and social security | 45 | €37,017 | €35,501 | -€1,516 | -4.1% |
| Taxes | 450/3 | €6,412 | €7,501 | +€1,089 | +17.0% |
| Remuneration and social security | 454/9 | €30,605 | €28,001 | -€2,605 | -8.5% |
| Other amounts payable | 47/48 | €937 | €795 | -€142 | -15.1% |
| Accrued charges and deferred income | 492/3 | - | €1,264 | +€1,264 | |
| Non-recurring operating income | 76A | - | €244 | +€244 | |
| Remuneration, social security and pensions | 62 | €209,108 | €232,750 | +€23,643 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,622 | €5,524 | -€3,098 | -35.9% |
| Other operating charges | 640/8 | €2,148 | €2,013 | -€135 | -6.3% |
| Gross operating margin | 9900 | €221,139 | €237,978 | +€16,840 | +7.6% |
| Operating profit (loss) | 9901 | €1,261 | -€2,309 | -€3,570 | |
| Financial income | 75/76B | €362 | €98 | -€264 | -73.0% |
| Recurring financial income | 75 | €362 | €98 | -€264 | -73.0% |
| Financial charges | 65/66B | €1,278 | €1,914 | +€635 | +49.7% |
| Recurring financial charges | 65 | €1,278 | €1,914 | +€635 | +49.7% |
| Profit (loss) for the period before taxes | 9903 | €344 | -€4,125 | -€4,469 | |
| Profit (loss) for the period | 9904 | €344 | -€4,125 | -€4,469 | |
| Profit (loss) for the period to be appropriated | 9905 | €344 | -€4,125 | -€4,469 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.