KIVANDI: 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.
KIVANDI
Largest movements
- Cash -€23,591
down €23,591 (-42.6%), from €55,340 to €31,749
mainly Contributions, distributions and other (-€38,000) and Receivables within one year (-€15,999)
- Receivables within one year +€15,999
up €15,999 (+508.7%), from €3,145 to €19,144
of which Trade receivables: +€15,125
- Tangible fixed assets +€9,303
up €9,303 (+1786.4%), from €521 to €9,824
- Deferred charges and accrued income -€715
no longer reported in 2025 (was €715)
- Other debts +€2,731
up €2,731 (+7.2%), from €38,102 to €40,834
- Profit (loss) carried forward -€1,973
down €1,973 (-70.5%), from €2,798 to €825
- Gross operating margin +€2,787
up €2,787 (+5.9%), from €46,996 to €49,784
- Taxes +€999
up €999 (+10.0%), from €9,984 to €10,984
- Depreciation +€956
up €956 (+153.2%), from €624 to €1,579
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 | €59,721 | €60,717 | +€996 | +1.7% |
| Fixed assets | 21/28 | €521 | €9,824 | +€9,303 | +1786.4% |
| Tangible fixed assets | 22/27 | €521 | €9,824 | +€9,303 | +1786.4% |
| Furniture and vehicles | 24 | €521 | €9,824 | +€9,303 | +1786.4% |
| Current assets | 29/58 | €59,200 | €50,893 | -€8,307 | -14.0% |
| Amounts receivable within one year | 40/41 | €3,145 | €19,144 | +€15,999 | +508.7% |
| Trade receivables | 40 | - | €15,125 | +€15,125 | |
| Other amounts receivable | 41 | €3,145 | €4,019 | +€874 | +27.8% |
| Cash at bank and in hand | 54/58 | €55,340 | €31,749 | -€23,591 | -42.6% |
| Deferred charges and accrued income | 490/1 | €715 | - | -€715 | |
| Total equity and liabilities | 10/49 | €59,721 | €60,717 | +€996 | +1.7% |
| Equity | 10/15 | €12,798 | €10,825 | -€1,973 | -15.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,798 | €825 | -€1,973 | -70.5% |
| Amounts payable | 17/49 | €46,922 | €49,892 | +€2,970 | +6.3% |
| Amounts payable within one year | 42/48 | €46,922 | €49,892 | +€2,970 | +6.3% |
| Trade debts | 44 | €1,681 | €1,870 | +€189 | +11.2% |
| Suppliers | 440/4 | €1,681 | €1,870 | +€189 | +11.2% |
| Taxes, remuneration and social security | 45 | €7,139 | €7,189 | +€50 | +0.7% |
| Taxes | 450/3 | €7,139 | €7,189 | +€50 | +0.7% |
| Other amounts payable | 47/48 | €38,102 | €40,834 | +€2,731 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €624 | €1,579 | +€956 | +153.2% |
| Other operating charges | 640/8 | €598 | €1,053 | +€455 | +76.0% |
| Gross operating margin | 9900 | €46,996 | €49,784 | +€2,787 | +5.9% |
| Operating profit (loss) | 9901 | €45,774 | €47,151 | +€1,377 | +3.0% |
| Financial charges | 65/66B | €61 | €141 | +€79 | +129.2% |
| Recurring financial charges | 65 | €61 | €141 | +€79 | +129.2% |
| Profit (loss) for the period before taxes | 9903 | €45,713 | €47,011 | +€1,298 | +2.8% |
| Income taxes | 67/77 | €9,984 | €10,984 | +€999 | +10.0% |
| Profit (loss) for the period | 9904 | €35,728 | €36,027 | +€298 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,728 | €36,027 | +€298 | +0.8% |
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 4 October 2026 via checked.be.