KIVEZO: 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.
KIVEZO
Largest movements
- Cash -€5,686
down €5,686 (-26.5%), from €21,471 to €15,785
mainly Debts after one year (-€14,687) and Trade debts (-€7,533)
- Receivables within one year +€4,177
up €4,177 (+19.4%), from €21,519 to €25,696
of which Other amounts receivable: +€3,130
- Reserves +€23,414
up €23,414 (+10.1%), from €231,395 to €254,809
- Debts after one year -€14,687
down €14,687 (-28.6%), from €51,265 to €36,577
- Trade debts -€7,533
down €7,533 (-70.6%), from €10,671 to €3,138
- Other debts -€4,168
down €4,168 (-85.1%), from €4,900 to €732
- Depreciation -€11,614
down €11,614 (-94.5%), from €12,291 to €677
- Taxes +€2,841
up €2,841 (+36.5%), from €7,791 to €10,632
- Gross operating margin +€1,522
up €1,522 (+3.9%), from €38,918 to €40,440
- Financial charges +€1,361
up €1,361 (+38.4%), from €3,546 to €4,907
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 | €333,153 | €332,197 | -€956 | -0.3% |
| Fixed assets | 21/28 | €288,152 | €289,460 | +€1,307 | +0.5% |
| Tangible fixed assets | 22/27 | €288,152 | €289,460 | +€1,307 | +0.5% |
| Land and buildings | 22 | €281,993 | €284,731 | +€2,738 | +1.0% |
| Plant, machinery and equipment | 23 | - | €2,315 | +€2,315 | |
| Furniture and vehicles | 24 | €6,159 | €2,414 | -€3,745 | -60.8% |
| Current assets | 29/58 | €45,001 | €42,737 | -€2,264 | -5.0% |
| Stocks and contracts in progress | 3 | €812 | €749 | -€63 | -7.8% |
| Stocks | 30/36 | €812 | €749 | -€63 | -7.8% |
| Amounts receivable within one year | 40/41 | €21,519 | €25,696 | +€4,177 | +19.4% |
| Trade receivables | 40 | €11,377 | €12,424 | +€1,047 | +9.2% |
| Other amounts receivable | 41 | €10,141 | €13,271 | +€3,130 | +30.9% |
| Cash at bank and in hand | 54/58 | €21,471 | €15,785 | -€5,686 | -26.5% |
| Deferred charges and accrued income | 490/1 | €1,200 | €508 | -€692 | -57.6% |
| Total equity and liabilities | 10/49 | €333,153 | €332,197 | -€956 | -0.3% |
| Equity | 10/15 | €249,987 | €273,401 | +€23,414 | +9.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €231,395 | €254,809 | +€23,414 | +10.1% |
| Distributable reserves | 133 | €231,395 | €254,809 | +€23,414 | +10.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €83,166 | €58,796 | -€24,370 | -29.3% |
| Amounts payable after more than one year | 17 | €51,265 | €36,577 | -€14,687 | -28.6% |
| Financial debts | 170/4 | €51,265 | €36,577 | -€14,687 | -28.6% |
| Amounts payable within one year | 42/48 | €31,901 | €22,219 | -€9,683 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €14,127 | €14,687 | +€561 | +4.0% |
| Trade debts | 44 | €10,671 | €3,138 | -€7,533 | -70.6% |
| Suppliers | 440/4 | €10,671 | €3,138 | -€7,533 | -70.6% |
| Taxes, remuneration and social security | 45 | €2,204 | €3,662 | +€1,458 | +66.2% |
| Taxes | 450/3 | €2,204 | €3,662 | +€1,458 | +66.2% |
| Other amounts payable | 47/48 | €4,900 | €732 | -€4,168 | -85.1% |
| Non-recurring operating income | 76A | - | €2,461 | +€2,461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,291 | €677 | -€11,614 | -94.5% |
| Other operating charges | 640/8 | €1,322 | €1,410 | +€88 | +6.7% |
| Gross operating margin | 9900 | €38,918 | €40,440 | +€1,522 | +3.9% |
| Operating profit (loss) | 9901 | €25,306 | €38,353 | +€13,048 | +51.6% |
| Financial income | 75/76B | €401 | €599 | +€198 | +49.3% |
| Recurring financial income | 75 | €401 | €599 | +€198 | +49.3% |
| Financial charges | 65/66B | €3,546 | €4,907 | +€1,361 | +38.4% |
| Recurring financial charges | 65 | €3,546 | €4,907 | +€1,361 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €22,161 | €34,045 | +€11,885 | +53.6% |
| Income taxes | 67/77 | €7,791 | €10,632 | +€2,841 | +36.5% |
| Profit (loss) for the period | 9904 | €14,370 | €23,414 | +€9,044 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,370 | €23,414 | +€9,044 | +62.9% |
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 3 October 2026 via checked.be.