KNUVAN: 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.
KNUVAN
Largest movements
- Receivables within one year +€36,914
up €36,914 (+42.1%), from €87,589 to €124,503
of which Other amounts receivable: +€18,564
- Cash +€29,235
up €29,235 (+49.2%), from €59,422 to €88,657
mainly Accrued charges and deferred income (+€45,893) and Depreciation (+€35,697)
- Tangible fixed assets +€20,131
up €20,131 (+15.2%), from €132,582 to €152,713
of which Leasing and similar rights: +€27,636
- Accrued charges and deferred income +€45,893
up €45,893 (+22,165%), from €207 to €46,100
- Reserves +€18,164
up €18,164 (+12.2%), from €148,900 to €167,065
- Trade debts +€17,543
up €17,543 (+163%), from €10,791 to €28,334
- Current portion of long-term debt +€8,151
up €8,151 (+36.1%), from €22,607 to €30,758
- Tax, wage and social debts -€5,374
down €5,374 (-61.7%), from €8,709 to €3,336
of which Remuneration and social security: -€6,059
- Depreciation +€7,774
up €7,774 (+27.8%), from €27,923 to €35,697
- Staff costs +€7,532
up €7,532 (+19.2%), from €39,194 to €46,725
- Taxes +€1,677
up €1,677 (+30.0%), from €5,598 to €7,276
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 | €286,328 | €372,990 | +€86,662 | +30.3% |
| Fixed assets | 21/28 | €132,582 | €152,713 | +€20,131 | +15.2% |
| Tangible fixed assets | 22/27 | €132,582 | €152,713 | +€20,131 | +15.2% |
| Plant, machinery and equipment | 23 | €46,902 | €53,424 | +€6,522 | +13.9% |
| Furniture and vehicles | 24 | €42,846 | €31,279 | -€11,567 | -27.0% |
| Leasing and similar rights | 25 | - | €27,636 | +€27,636 | |
| Other tangible fixed assets | 26 | €42,835 | €40,374 | -€2,460 | -5.7% |
| Current assets | 29/58 | €153,746 | €220,277 | +€66,531 | +43.3% |
| Stocks and contracts in progress | 3 | €6,735 | €5,800 | -€935 | -13.9% |
| Stocks | 30/36 | €6,735 | €5,800 | -€935 | -13.9% |
| Amounts receivable within one year | 40/41 | €87,589 | €124,503 | +€36,914 | +42.1% |
| Trade receivables | 40 | €56,074 | €74,424 | +€18,350 | +32.7% |
| Other amounts receivable | 41 | €31,515 | €50,079 | +€18,564 | +58.9% |
| Cash at bank and in hand | 54/58 | €59,422 | €88,657 | +€29,235 | +49.2% |
| Deferred charges and accrued income | 490/1 | - | €1,317 | +€1,317 | |
| Total equity and liabilities | 10/49 | €286,328 | €372,990 | +€86,662 | +30.3% |
| Equity | 10/15 | €167,500 | €185,665 | +€18,164 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,900 | €167,065 | +€18,164 | +12.2% |
| Distributable reserves | 133 | €148,900 | €167,065 | +€18,164 | +12.2% |
| Amounts payable | 17/49 | €118,828 | €187,325 | +€68,497 | +57.6% |
| Amounts payable after more than one year | 17 | €76,514 | €78,798 | +€2,284 | +3.0% |
| Financial debts | 170/4 | €76,514 | €78,798 | +€2,284 | +3.0% |
| Amounts payable within one year | 42/48 | €42,107 | €62,427 | +€20,320 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €22,607 | €30,758 | +€8,151 | +36.1% |
| Trade debts | 44 | €10,791 | €28,334 | +€17,543 | +163% |
| Suppliers | 440/4 | €10,791 | €28,334 | +€17,543 | +163% |
| Taxes, remuneration and social security | 45 | €8,709 | €3,336 | -€5,374 | -61.7% |
| Taxes | 450/3 | €699 | €1,385 | +€685 | +98.0% |
| Remuneration and social security | 454/9 | €8,010 | €1,951 | -€6,059 | -75.6% |
| Accrued charges and deferred income | 492/3 | €207 | €46,100 | +€45,893 | +22,165% |
| Remuneration, social security and pensions | 62 | €39,194 | €46,725 | +€7,532 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,923 | €35,697 | +€7,774 | +27.8% |
| Other operating charges | 640/8 | €2,053 | €1,612 | -€442 | -21.5% |
| Gross operating margin | 9900 | €113,391 | €112,634 | -€757 | -0.7% |
| Operating profit (loss) | 9901 | €44,221 | €28,600 | -€15,621 | -35.3% |
| Financial income | 75/76B | €249 | €462 | +€214 | +85.9% |
| Recurring financial income | 75 | €249 | €462 | +€214 | +85.9% |
| Financial charges | 65/66B | €3,613 | €3,623 | +€10 | +0.3% |
| Recurring financial charges | 65 | €3,613 | €3,623 | +€10 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €40,857 | €25,440 | -€15,417 | -37.7% |
| Income taxes | 67/77 | €5,598 | €7,276 | +€1,677 | +30.0% |
| Profit (loss) for the period | 9904 | €35,259 | €18,164 | -€17,095 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,259 | €18,164 | -€17,095 | -48.5% |
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 18 October 2026 via checked.be.