KEVSA: 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.
KEVSA
Largest movements
- Cash +€19,440
up €19,440 (+351.5%), from €5,531 to €24,971
mainly Other debts (+€37,699) and Depreciation (+€5,731)
- Intangible fixed assets -€4,550
down €4,550 (-50.0%), from €9,100 to €4,550
- Tangible fixed assets +€3,369
up €3,369 (+64.5%), from €5,220 to €8,588
of which Other tangible fixed assets: +€4,509
- Receivables within one year -€482
down €482 (-60.3%), from €800 to €317
- Other debts +€37,699
up €37,699 (+1271.3%), from €2,965 to €40,664
- Profit (loss) carried forward -€19,532
down €19,532, from €546 to -€18,987
- Gross operating margin +€34,495
up €34,495 (+76.0%), from -€45,413 to -€10,918
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 | €25,596 | €43,477 | +€17,881 | +69.9% |
| Fixed assets | 21/28 | €17,858 | €16,676 | -€1,181 | -6.6% |
| Intangible fixed assets | 21 | €9,100 | €4,550 | -€4,550 | -50.0% |
| Tangible fixed assets | 22/27 | €5,220 | €8,588 | +€3,369 | +64.5% |
| Plant, machinery and equipment | 23 | €4,348 | €3,495 | -€853 | -19.6% |
| Furniture and vehicles | 24 | €872 | €584 | -€288 | -33.0% |
| Other tangible fixed assets | 26 | - | €4,509 | +€4,509 | |
| Financial fixed assets | 28 | €3,538 | €3,538 | = | 0.0% |
| Current assets | 29/58 | €7,738 | €26,801 | +€19,063 | +246.3% |
| Stocks and contracts in progress | 3 | €1,407 | €1,512 | +€105 | +7.5% |
| Stocks | 30/36 | €1,407 | €1,512 | +€105 | +7.5% |
| Amounts receivable within one year | 40/41 | €800 | €317 | -€482 | -60.3% |
| Other amounts receivable | 41 | €800 | €317 | -€482 | -60.3% |
| Cash at bank and in hand | 54/58 | €5,531 | €24,971 | +€19,440 | +351.5% |
| Total equity and liabilities | 10/49 | €25,596 | €43,477 | +€17,881 | +69.9% |
| Equity | 10/15 | €21,006 | €1,473 | -€19,532 | -93.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €546 | -€18,987 | -€19,532 | |
| Amounts payable | 17/49 | €4,590 | €42,003 | +€37,413 | +815.1% |
| Amounts payable within one year | 42/48 | €4,590 | €42,003 | +€37,413 | +815.1% |
| Trade debts | 44 | €1,386 | €1,040 | -€345 | -24.9% |
| Suppliers | 440/4 | €1,386 | €1,040 | -€345 | -24.9% |
| Taxes, remuneration and social security | 45 | €239 | €299 | +€60 | +24.9% |
| Taxes | 450/3 | €239 | €299 | +€60 | +24.9% |
| Other amounts payable | 47/48 | €2,965 | €40,664 | +€37,699 | +1271.3% |
| Non-recurring operating income | 76A | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,896 | €5,731 | -€165 | -2.8% |
| Other operating charges | 640/8 | €1,134 | €790 | -€344 | -30.3% |
| Gross operating margin | 9900 | -€45,413 | -€10,918 | +€34,495 | +76.0% |
| Operating profit (loss) | 9901 | -€52,443 | -€17,438 | +€35,004 | +66.7% |
| Financial income | 75/76B | €8 | €0 | -€8 | -99.3% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -99.3% |
| Financial charges | 65/66B | €1,495 | €1,948 | +€452 | +30.3% |
| Recurring financial charges | 65 | €1,495 | €1,948 | +€452 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | -€53,930 | -€19,386 | +€34,543 | +64.1% |
| Income taxes | 67/77 | €153 | €146 | -€7 | -4.6% |
| Profit (loss) for the period | 9904 | -€54,083 | -€19,532 | +€34,551 | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,083 | -€19,532 | +€34,551 | +63.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.