KERVIZIEN: 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.
KERVIZIEN
Largest movements
- Tangible fixed assets +€572,155
up €572,155 (+102%), from €561,885 to €1.1m
- Debts after one year +€1.1m
new in 2025: €1.1m
- Short-term financial debts -€490,378
down €490,378 (-98.1%), from €500,000 to €9,622
- Profit (loss) carried forward -€111,024
down €111,024 (-53.1%), from -€209,106 to -€320,130
- Other debts +€80,300
up €80,300 (+29.2%), from €275,065 to €355,365
- Tax, wage and social debts +€18,330
new in 2025: €18,330
- Depreciation -€50,898
down €50,898 (-71.8%), from €70,861 to €19,963
- Gross operating margin -€39,862
down €39,862 (-225%), from -€17,710 to -€57,571
- Financial charges -€5,345
down €5,345 (-15.3%), from €34,959 to €29,614
- Other operating charges +€889
up €889 (+29.8%), from €2,987 to €3,876
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 | €566,059 | €1,137,906 | +€571,847 | +101% |
| Fixed assets | 21/28 | €561,885 | €1,134,040 | +€572,155 | +102% |
| Tangible fixed assets | 22/27 | €561,885 | €1,134,040 | +€572,155 | +102% |
| Land and buildings | 22 | €561,885 | €1,134,040 | +€572,155 | +102% |
| Current assets | 29/58 | €4,174 | €3,866 | -€308 | -7.4% |
| Amounts receivable within one year | 40/41 | €198 | €420 | +€222 | +112% |
| Trade receivables | 40 | - | €420 | +€420 | |
| Other amounts receivable | 41 | €198 | - | -€198 | |
| Cash at bank and in hand | 54/58 | €3,976 | €3,446 | -€530 | -13.3% |
| Total equity and liabilities | 10/49 | €566,059 | €1,137,906 | +€571,847 | +101% |
| Equity | 10/15 | -€209,006 | -€320,030 | -€111,024 | -53.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,106 | -€320,130 | -€111,024 | -53.1% |
| Amounts payable | 17/49 | €775,065 | €1,457,937 | +€682,872 | +88.1% |
| Amounts payable after more than one year | 17 | - | €1,069,303 | +€1.1m | |
| Financial debts | 170/4 | - | €1,069,303 | +€1.1m | |
| Amounts payable within one year | 42/48 | €775,065 | €388,634 | -€386,431 | -49.9% |
| Financial debts | 43 | €500,000 | €9,622 | -€490,378 | -98.1% |
| Credit institutions | 430/8 | €500,000 | €9,622 | -€490,378 | -98.1% |
| Trade debts | 44 | - | €5,317 | +€5,317 | |
| Suppliers | 440/4 | - | €5,317 | +€5,317 | |
| Taxes, remuneration and social security | 45 | - | €18,330 | +€18,330 | |
| Taxes | 450/3 | - | €18,330 | +€18,330 | |
| Other amounts payable | 47/48 | €275,065 | €355,365 | +€80,300 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,861 | €19,963 | -€50,898 | -71.8% |
| Other operating charges | 640/8 | €2,987 | €3,876 | +€889 | +29.8% |
| Gross operating margin | 9900 | -€17,710 | -€57,571 | -€39,862 | -225% |
| Operating profit (loss) | 9901 | -€91,558 | -€81,410 | +€10,148 | +11.1% |
| Financial charges | 65/66B | €34,959 | €29,614 | -€5,345 | -15.3% |
| Recurring financial charges | 65 | €34,959 | €29,614 | -€5,345 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€126,517 | -€111,024 | +€15,492 | +12.2% |
| Profit (loss) for the period | 9904 | -€126,517 | -€111,024 | +€15,492 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€126,517 | -€111,024 | +€15,492 | +12.2% |
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 14 October 2026 via checked.be.