Kivu GROUP: 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.
Kivu GROUP
Largest movements
- Cash -€5,201
down €5,201 (-30.2%), from €17,240 to €12,039
mainly Debts after one year (-€4,065) and Stocks and contracts (-€3,004)
- Stocks and contracts +€3,004
up €3,004 (+77.8%), from €3,862 to €6,867
- Receivables within one year +€2,437
up €2,437 (+4,566%), from €53 to €2,490
of which Trade receivables: +€2,437
- Tangible fixed assets -€650
down €650 (-76.3%), from €851 to €202
- Debts after one year -€4,065
down €4,065 (-37.5%), from €10,830 to €6,765
- Advances received +€2,561
up €2,561 (+662%), from €387 to €2,948
- Profit (loss) carried forward +€600
up €600 (+6.1%), from -€9,853 to -€9,253
- Tax, wage and social debts +€493
up €493 (+337%), from €147 to €640
- Gross operating margin -€4,812
down €4,812 (-79.2%), from €6,073 to €1,262
- Other operating charges -€357
no longer reported in 2025 (was €357)
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 | €22,008 | €21,597 | -€410 | -1.9% |
| Fixed assets | 21/28 | €851 | €202 | -€650 | -76.3% |
| Tangible fixed assets | 22/27 | €851 | €202 | -€650 | -76.3% |
| Furniture and vehicles | 24 | €851 | €202 | -€650 | -76.3% |
| Current assets | 29/58 | €21,156 | €21,396 | +€239 | +1.1% |
| Stocks and contracts in progress | 3 | €3,862 | €6,867 | +€3,004 | +77.8% |
| Stocks | 30/36 | €3,862 | €6,867 | +€3,004 | +77.8% |
| Amounts receivable within one year | 40/41 | €53 | €2,490 | +€2,437 | +4,566% |
| Trade receivables | 40 | - | €2,437 | +€2,437 | |
| Other amounts receivable | 41 | €53 | €53 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,240 | €12,039 | -€5,201 | -30.2% |
| Total equity and liabilities | 10/49 | €22,008 | €21,597 | -€410 | -1.9% |
| Equity | 10/15 | -€6,853 | -€6,253 | +€600 | +8.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,853 | -€9,253 | +€600 | +6.1% |
| Amounts payable | 17/49 | €28,861 | €27,850 | -€1,010 | -3.5% |
| Amounts payable after more than one year | 17 | €10,830 | €6,765 | -€4,065 | -37.5% |
| Financial debts | 170/4 | €10,830 | €6,765 | -€4,065 | -37.5% |
| Amounts payable within one year | 42/48 | €18,031 | €21,085 | +€3,055 | +16.9% |
| Trade debts | 44 | €695 | €695 | = | 0.0% |
| Suppliers | 440/4 | €695 | €695 | = | 0.0% |
| Advances received on contracts in progress | 46 | €387 | €2,948 | +€2,561 | +662% |
| Taxes, remuneration and social security | 45 | €147 | €640 | +€493 | +337% |
| Taxes | 450/3 | €147 | €640 | +€493 | +337% |
| Other amounts payable | 47/48 | €16,802 | €16,802 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €26 | - | -€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €650 | €650 | = | 0.0% |
| Other operating charges | 640/8 | €357 | - | -€357 | |
| Gross operating margin | 9900 | €6,073 | €1,262 | -€4,812 | -79.2% |
| Operating profit (loss) | 9901 | €5,041 | €612 | -€4,429 | -87.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3 | €12 | +€9 | +374% |
| Recurring financial charges | 65 | €3 | €12 | +€9 | +374% |
| Profit (loss) for the period before taxes | 9903 | €5,039 | €600 | -€4,439 | -88.1% |
| Profit (loss) for the period | 9904 | €5,039 | €600 | -€4,439 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,039 | €600 | -€4,439 | -88.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.