KEVLAER: 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.
KEVLAER
Largest movements
- Intangible fixed assets -€307,542
down €307,542 (-74.6%), from €412,126 to €104,584
- Receivables within one year +€40,708
up €40,708 (+12.8%), from €318,886 to €359,593
of which Other amounts receivable: +€35,302
- Cash +€11,875
up €11,875 (+12.5%), from €94,967 to €106,842
mainly Depreciation (+€317,865) and Trade debts (+€97,948)
- Tangible fixed assets -€10,323
down €10,323 (-39.6%), from €26,053 to €15,730
of which Plant, machinery and equipment: -€9,931
- Profit (loss) carried forward -€379,705
down €379,705 (-38.9%), from -€976,411 to -€1.4m
- Trade debts +€97,948
up €97,948 (+1,330%), from €7,362 to €105,310
- Tax, wage and social debts +€29,325
up €29,325 (+102%), from €28,652 to €57,977
of which Remuneration and social security: +€27,463
- Debts after one year -€25,000
down €25,000 (-66.7%), from €37,500 to €12,500
- Other debts +€11,936
up €11,936 (+19.8%), from €60,431 to €72,367
- Other operating charges +€60,063
up €60,063 (+208%), from €28,824 to €88,888
- Staff costs +€31,048
up €31,048 (+12.4%), from €249,496 to €280,545
- Gross operating margin -€13,747
down €13,747 (-4.3%), from €323,407 to €309,660
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 | €852,395 | €586,898 | -€265,497 | -31.1% |
| Fixed assets | 21/28 | €438,179 | €120,314 | -€317,865 | -72.5% |
| Intangible fixed assets | 21 | €412,126 | €104,584 | -€307,542 | -74.6% |
| Tangible fixed assets | 22/27 | €26,053 | €15,730 | -€10,323 | -39.6% |
| Land and buildings | 22 | €3,265 | €2,872 | -€393 | -12.0% |
| Plant, machinery and equipment | 23 | €22,788 | €12,858 | -€9,931 | -43.6% |
| Current assets | 29/58 | €414,216 | €466,584 | +€52,368 | +12.6% |
| Amounts receivable within one year | 40/41 | €318,886 | €359,593 | +€40,708 | +12.8% |
| Trade receivables | 40 | €274,039 | €279,445 | +€5,406 | +2.0% |
| Other amounts receivable | 41 | €44,847 | €80,149 | +€35,302 | +78.7% |
| Cash at bank and in hand | 54/58 | €94,967 | €106,842 | +€11,875 | +12.5% |
| Deferred charges and accrued income | 490/1 | €363 | €149 | -€214 | -59.0% |
| Total equity and liabilities | 10/49 | €852,395 | €586,898 | -€265,497 | -31.1% |
| Equity | 10/15 | €693,449 | €313,744 | -€379,705 | -54.8% |
| Contributions | 10/11 | €1,618,600 | €1,618,600 | = | 0.0% |
| Reserves | 13 | €51,261 | €51,261 | = | 0.0% |
| Non-distributable reserves | 130/1 | €51,261 | €51,261 | = | 0.0% |
| Reserves not available under the articles | 1311 | €51,261 | €51,261 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€976,411 | -€1,356,117 | -€379,705 | -38.9% |
| Amounts payable | 17/49 | €158,946 | €273,154 | +€114,209 | +71.9% |
| Amounts payable after more than one year | 17 | €37,500 | €12,500 | -€25,000 | -66.7% |
| Financial debts | 170/4 | €37,500 | €12,500 | -€25,000 | -66.7% |
| Amounts payable within one year | 42/48 | €121,446 | €260,654 | +€139,209 | +115% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €7,362 | €105,310 | +€97,948 | +1,330% |
| Suppliers | 440/4 | €7,362 | €105,310 | +€97,948 | +1,330% |
| Taxes, remuneration and social security | 45 | €28,652 | €57,977 | +€29,325 | +102% |
| Taxes | 450/3 | €1,653 | €3,516 | +€1,863 | +113% |
| Remuneration and social security | 454/9 | €26,999 | €54,461 | +€27,463 | +102% |
| Other amounts payable | 47/48 | €60,431 | €72,367 | +€11,936 | +19.8% |
| Non-recurring operating income | 76A | €0 | €6,612 | +€6,612 | |
| Remuneration, social security and pensions | 62 | €249,496 | €280,545 | +€31,048 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €318,817 | €317,865 | -€953 | -0.3% |
| Other operating charges | 640/8 | €28,824 | €88,888 | +€60,063 | +208% |
| Gross operating margin | 9900 | €323,407 | €309,660 | -€13,747 | -4.3% |
| Operating profit (loss) | 9901 | -€273,731 | -€377,637 | -€103,906 | -38.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,004 | €1,556 | -€448 | -22.4% |
| Recurring financial charges | 65 | €2,004 | €1,556 | -€448 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | -€275,735 | -€379,193 | -€103,458 | -37.5% |
| Income taxes | 67/77 | €872 | €512 | -€360 | -41.2% |
| Profit (loss) for the period | 9904 | -€276,607 | -€379,705 | -€103,098 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€276,607 | -€379,705 | -€103,098 | -37.3% |
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 29 October 2026 via checked.be.