KIVANO: 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.
KIVANO
Largest movements
- Tangible fixed assets -€6,069
down €6,069 (-44.1%), from €13,751 to €7,682
of which Furniture and vehicles: -€5,285
- Receivables within one year +€1,328
up €1,328 (+21.3%), from €6,228 to €7,556
- Cash +€685
up €685 (+2.7%), from €25,658 to €26,343
mainly Net result for the year (+€6,877) and Depreciation (+€6,069)
- Other debts -€8,566
down €8,566 (-57.6%), from €14,873 to €6,308
- Profit (loss) carried forward +€6,877
up €6,877 (+36.2%), from €18,978 to €25,855
- Tax, wage and social debts -€2,390
down €2,390 (-31.4%), from €7,618 to €5,228
- Accrued charges and deferred income +€1,200
new in 2025: €1,200
- Trade debts -€1,176
down €1,176 (-96.6%), from €1,218 to €42
- Gross operating margin -€14,354
down €14,354 (-46.0%), from €31,212 to €16,858
- Taxes -€2,797
down €2,797 (-47.5%), from €5,888 to €3,090
- Depreciation +€575
up €575 (+10.5%), from €5,494 to €6,069
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 | €45,687 | €41,633 | -€4,055 | -8.9% |
| Fixed assets | 21/28 | €13,751 | €7,682 | -€6,069 | -44.1% |
| Tangible fixed assets | 22/27 | €13,751 | €7,682 | -€6,069 | -44.1% |
| Plant, machinery and equipment | 23 | €1,967 | €1,183 | -€784 | -39.9% |
| Furniture and vehicles | 24 | €11,784 | €6,499 | -€5,285 | -44.8% |
| Current assets | 29/58 | €31,936 | €33,950 | +€2,014 | +6.3% |
| Amounts receivable within one year | 40/41 | €6,228 | €7,556 | +€1,328 | +21.3% |
| Trade receivables | 40 | €6,228 | €7,556 | +€1,328 | +21.3% |
| Cash at bank and in hand | 54/58 | €25,658 | €26,343 | +€685 | +2.7% |
| Deferred charges and accrued income | 490/1 | €50 | €51 | +€1 | +1.5% |
| Total equity and liabilities | 10/49 | €45,687 | €41,633 | -€4,055 | -8.9% |
| Equity | 10/15 | €21,978 | €28,855 | +€6,877 | +31.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,978 | €25,855 | +€6,877 | +36.2% |
| Amounts payable | 17/49 | €23,710 | €12,778 | -€10,932 | -46.1% |
| Amounts payable within one year | 42/48 | €23,710 | €11,578 | -€12,132 | -51.2% |
| Trade debts | 44 | €1,218 | €42 | -€1,176 | -96.6% |
| Suppliers | 440/4 | €1,218 | €42 | -€1,176 | -96.6% |
| Taxes, remuneration and social security | 45 | €7,618 | €5,228 | -€2,390 | -31.4% |
| Taxes | 450/3 | €7,618 | €5,228 | -€2,390 | -31.4% |
| Other amounts payable | 47/48 | €14,873 | €6,308 | -€8,566 | -57.6% |
| Accrued charges and deferred income | 492/3 | - | €1,200 | +€1,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,494 | €6,069 | +€575 | +10.5% |
| Other operating charges | 640/8 | €887 | €655 | -€232 | -26.1% |
| Gross operating margin | 9900 | €31,212 | €16,858 | -€14,354 | -46.0% |
| Operating profit (loss) | 9901 | €24,831 | €10,134 | -€14,697 | -59.2% |
| Financial income | 75/76B | €151 | - | -€151 | |
| Recurring financial income | 75 | €151 | - | -€151 | |
| Financial charges | 65/66B | €117 | €167 | +€50 | +42.6% |
| Recurring financial charges | 65 | €117 | €167 | +€50 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €24,865 | €9,967 | -€14,898 | -59.9% |
| Income taxes | 67/77 | €5,888 | €3,090 | -€2,797 | -47.5% |
| Profit (loss) for the period | 9904 | €18,978 | €6,877 | -€12,101 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,978 | €6,877 | -€12,101 | -63.8% |
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 8 October 2026 via checked.be.