KEVIAN: 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.
KEVIAN
Largest movements
- Receivables within one year +€16,739
up €16,739 (+96.3%), from €17,383 to €34,121
of which Trade receivables: +€20,891
- Intangible fixed assets +€13,619
new in 2025: €13,619
- Cash +€10,924
up €10,924 (+8.2%), from €133,516 to €144,440
mainly Net result for the year (+€54,667) and Trade debts (+€47,817)
- Receivables after one year +€6,842
up €6,842 (+11.7%), from €58,639 to €65,481
- Trade debts +€47,817
up €47,817 (+923%), from €5,180 to €52,997
- Profit (loss) carried forward -€43,359
down €43,359 (-44.2%), from €98,026 to €54,667
- Other debts +€28,722
up €28,722 (+624%), from €4,600 to €33,322
- Tax, wage and social debts +€26,953
up €26,953 (+155%), from €17,362 to €44,315
of which Taxes: +€28,553
- Accrued charges and deferred income -€10,939
no longer reported in 2025 (was €10,939)
- Financial income +€13,253
up €13,253 (+46,732%), from €28 to €13,281
- Financial charges +€8,311
up €8,311 (+9,927%), from €84 to €8,394
- Gross operating margin +€7,699
up €7,699 (+12.7%), from €60,443 to €68,142
- Depreciation -€6,008
down €6,008 (-57.9%), from €10,373 to €4,365
- Taxes +€2,405
up €2,405 (+22.1%), from €10,857 to €13,261
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 | €215,006 | €262,302 | +€47,295 | +22.0% |
| Fixed assets | 21/28 | €5,063 | €16,254 | +€11,191 | +221% |
| Intangible fixed assets | 21 | - | €13,619 | +€13,619 | |
| Tangible fixed assets | 22/27 | €5,063 | €2,635 | -€2,428 | -48.0% |
| Plant, machinery and equipment | 23 | €3,077 | €2,635 | -€442 | -14.4% |
| Furniture and vehicles | 24 | €1,986 | - | -€1,986 | |
| Current assets | 29/58 | €209,943 | €246,048 | +€36,105 | +17.2% |
| Amounts receivable after more than one year | 29 | €58,639 | €65,481 | +€6,842 | +11.7% |
| Other amounts receivable | 291 | €58,639 | €65,481 | +€6,842 | +11.7% |
| Amounts receivable within one year | 40/41 | €17,383 | €34,121 | +€16,739 | +96.3% |
| Trade receivables | 40 | €13,231 | €34,121 | +€20,891 | +158% |
| Other amounts receivable | 41 | €4,152 | - | -€4,152 | |
| Cash at bank and in hand | 54/58 | €133,516 | €144,440 | +€10,924 | +8.2% |
| Deferred charges and accrued income | 490/1 | €405 | €2,005 | +€1,600 | +395% |
| Total equity and liabilities | 10/49 | €215,006 | €262,302 | +€47,295 | +22.0% |
| Equity | 10/15 | €175,026 | €131,667 | -€43,359 | -24.8% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,026 | €54,667 | -€43,359 | -44.2% |
| Amounts payable | 17/49 | €39,980 | €130,635 | +€90,654 | +227% |
| Amounts payable within one year | 42/48 | €29,041 | €130,635 | +€101,594 | +350% |
| Current portion of amounts payable after more than one year | 42 | €1,899 | - | -€1,899 | |
| Trade debts | 44 | €5,180 | €52,997 | +€47,817 | +923% |
| Suppliers | 440/4 | €5,180 | €52,997 | +€47,817 | +923% |
| Taxes, remuneration and social security | 45 | €17,362 | €44,315 | +€26,953 | +155% |
| Taxes | 450/3 | €15,762 | €44,315 | +€28,553 | +181% |
| Remuneration and social security | 454/9 | €1,600 | - | -€1,600 | |
| Other amounts payable | 47/48 | €4,600 | €33,322 | +€28,722 | +624% |
| Accrued charges and deferred income | 492/3 | €10,939 | - | -€10,939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,373 | €4,365 | -€6,008 | -57.9% |
| Other operating charges | 640/8 | €451 | €735 | +€284 | +63.0% |
| Gross operating margin | 9900 | €60,443 | €68,142 | +€7,699 | +12.7% |
| Operating profit (loss) | 9901 | €49,619 | €63,041 | +€13,422 | +27.1% |
| Financial income | 75/76B | €28 | €13,281 | +€13,253 | +46,732% |
| Recurring financial income | 75 | €28 | €13,281 | +€13,253 | +46,732% |
| Financial charges | 65/66B | €84 | €8,394 | +€8,311 | +9,927% |
| Recurring financial charges | 65 | €84 | €8,394 | +€8,311 | +9,927% |
| Profit (loss) for the period before taxes | 9903 | €49,564 | €67,928 | +€18,365 | +37.1% |
| Income taxes | 67/77 | €10,857 | €13,261 | +€2,405 | +22.1% |
| Profit (loss) for the period | 9904 | €38,707 | €54,667 | +€15,960 | +41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,707 | €54,667 | +€15,960 | +41.2% |
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 13 October 2026 via checked.be.