KIVIEF: 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.
KIVIEF
Largest movements
- Cash -€29,798
down €29,798 (-36.9%), from €80,864 to €51,065
mainly Other debts (-€32,058) and Trade debts (-€11,136)
- Receivables within one year -€19,417
down €19,417 (-47.1%), from €41,257 to €21,840
- Tangible fixed assets -€10,545
down €10,545 (-6.4%), from €164,158 to €153,613
of which Land and buildings: -€11,013
- Other debts -€32,058
down €32,058 (-42.4%), from €75,611 to €43,553
- Trade debts -€11,136
down €11,136 (-77.2%), from €14,425 to €3,289
- Tax, wage and social debts -€9,910
down €9,910 (-45.0%), from €22,022 to €12,113
- Debts after one year -€6,277
down €6,277 (-4.0%), from €156,018 to €149,741
- Gross operating margin -€38,366
down €38,366 (-65.6%), from €58,460 to €20,094
- Taxes -€4,234
down €4,234 (-66.0%), from €6,411 to €2,177
- Depreciation -€1,317
down €1,317 (-8.2%), from €15,978 to €14,661
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 | €286,278 | €226,517 | -€59,761 | -20.9% |
| Fixed assets | 21/28 | €164,158 | €153,613 | -€10,545 | -6.4% |
| Tangible fixed assets | 22/27 | €164,158 | €153,613 | -€10,545 | -6.4% |
| Land and buildings | 22 | €146,990 | €135,977 | -€11,013 | -7.5% |
| Furniture and vehicles | 24 | €3,500 | €6,701 | +€3,201 | +91.5% |
| Other tangible fixed assets | 26 | €13,668 | €10,934 | -€2,734 | -20.0% |
| Current assets | 29/58 | €122,120 | €72,905 | -€49,216 | -40.3% |
| Amounts receivable within one year | 40/41 | €41,257 | €21,840 | -€19,417 | -47.1% |
| Trade receivables | 40 | €41,257 | €21,840 | -€19,417 | -47.1% |
| Cash at bank and in hand | 54/58 | €80,864 | €51,065 | -€29,798 | -36.9% |
| Total equity and liabilities | 10/49 | €286,278 | €226,517 | -€59,761 | -20.9% |
| Equity | 10/15 | €12,038 | €11,546 | -€492 | -4.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,512 | -€7,004 | -€492 | -7.6% |
| Amounts payable | 17/49 | €274,240 | €214,972 | -€59,269 | -21.6% |
| Amounts payable after more than one year | 17 | €156,018 | €149,741 | -€6,277 | -4.0% |
| Financial debts | 170/4 | €156,018 | €149,741 | -€6,277 | -4.0% |
| Amounts payable within one year | 42/48 | €118,222 | €65,230 | -€52,992 | -44.8% |
| Current portion of amounts payable after more than one year | 42 | €6,165 | €6,277 | +€112 | +1.8% |
| Trade debts | 44 | €14,425 | €3,289 | -€11,136 | -77.2% |
| Suppliers | 440/4 | €14,425 | €3,289 | -€11,136 | -77.2% |
| Taxes, remuneration and social security | 45 | €22,022 | €12,113 | -€9,910 | -45.0% |
| Taxes | 450/3 | €22,022 | €12,113 | -€9,910 | -45.0% |
| Other amounts payable | 47/48 | €75,611 | €43,553 | -€32,058 | -42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,978 | €14,661 | -€1,317 | -8.2% |
| Other operating charges | 640/8 | €1,665 | €1,661 | -€4 | -0.2% |
| Gross operating margin | 9900 | €58,460 | €20,094 | -€38,366 | -65.6% |
| Operating profit (loss) | 9901 | €40,817 | €3,772 | -€37,045 | -90.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,104 | €2,087 | -€18 | -0.8% |
| Recurring financial charges | 65 | €2,104 | €2,087 | -€18 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €38,714 | €1,685 | -€37,028 | -95.6% |
| Income taxes | 67/77 | €6,411 | €2,177 | -€4,234 | -66.0% |
| Profit (loss) for the period | 9904 | €32,302 | -€492 | -€32,795 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,302 | -€492 | -€32,795 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.