KOVA TOOLS: 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.
KOVA TOOLS
Largest movements
- Receivables within one year +€130,498
up €130,498 (+43.9%), from €297,069 to €427,567
of which Other amounts receivable: +€107,417
- Stocks and contracts -€124,082
down €124,082 (-25.8%), from €480,856 to €356,775
- Cash +€49,934
up €49,934 (+47.1%), from €106,023 to €155,957
mainly Short-term financial debts (+€160,000) and Stocks and contracts (+€124,082)
- Tangible fixed assets -€36,283
down €36,283 (-5.4%), from €671,576 to €635,293
of which Land and buildings: -€35,903
- Intangible fixed assets +€17,430
new in 2025: €17,430
- Debts after one year -€160,611
down €160,611 (-36.8%), from €436,598 to €275,988
- Short-term financial debts +€160,000
up €160,000 (+106.7%), from €150,000 to €310,000
- Profit (loss) carried forward +€26,568
up €26,568 (+9.0%), from €296,828 to €323,396
- Trade debts +€19,748
up €19,748 (+18.6%), from €106,288 to €126,037
- Gross operating margin -€75,418
down €75,418 (-20.1%), from €375,213 to €299,795
- Financial charges -€26,298
down €26,298 (-65.2%), from €40,318 to €14,020
- Staff costs -€21,889
down €21,889 (-8.9%), from €246,137 to €224,248
- Taxes -€4,748
down €4,748 (-38.2%), from €12,417 to €7,670
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 | €1,610,124 | €1,656,349 | +€46,225 | +2.9% |
| Fixed assets | 21/28 | €671,576 | €652,723 | -€18,854 | -2.8% |
| Intangible fixed assets | 21 | - | €17,430 | +€17,430 | |
| Tangible fixed assets | 22/27 | €671,576 | €635,293 | -€36,283 | -5.4% |
| Land and buildings | 22 | €671,196 | €635,293 | -€35,903 | -5.3% |
| Plant, machinery and equipment | 23 | €380 | €0 | -€380 | -100.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €938,548 | €1,003,626 | +€65,078 | +6.9% |
| Amounts receivable after more than one year | 29 | €40,533 | €48,850 | +€8,317 | +20.5% |
| Other amounts receivable | 291 | €40,533 | €48,850 | +€8,317 | +20.5% |
| Stocks and contracts in progress | 3 | €480,856 | €356,775 | -€124,082 | -25.8% |
| Stocks | 30/36 | €480,856 | €356,775 | -€124,082 | -25.8% |
| Amounts receivable within one year | 40/41 | €297,069 | €427,567 | +€130,498 | +43.9% |
| Trade receivables | 40 | €274,486 | €297,567 | +€23,081 | +8.4% |
| Other amounts receivable | 41 | €22,583 | €130,000 | +€107,417 | +475.7% |
| Cash at bank and in hand | 54/58 | €106,023 | €155,957 | +€49,934 | +47.1% |
| Deferred charges and accrued income | 490/1 | €14,067 | €14,478 | +€411 | +2.9% |
| Total equity and liabilities | 10/49 | €1,610,124 | €1,656,349 | +€46,225 | +2.9% |
| Equity | 10/15 | €777,254 | €795,702 | +€18,448 | +2.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €101,389 | €96,737 | -€4,651 | -4.6% |
| Non-distributable reserves | 130/1 | €16,691 | €18,090 | +€1,398 | +8.4% |
| Legal reserve | 130 | €16,691 | €18,090 | +€1,398 | +8.4% |
| Tax-exempt reserves | 132 | €84,697 | €78,648 | -€6,050 | -7.1% |
| Profit (loss) carried forward | 14 | €296,828 | €323,396 | +€26,568 | +9.0% |
| Investment grants | 15 | €79,037 | €75,569 | -€3,469 | -4.4% |
| Provisions and deferred taxes | 16 | €43,613 | €40,497 | -€3,115 | -7.1% |
| Deferred taxes | 168 | €43,613 | €40,497 | -€3,115 | -7.1% |
| Amounts payable | 17/49 | €789,258 | €820,149 | +€30,892 | +3.9% |
| Amounts payable after more than one year | 17 | €436,598 | €275,988 | -€160,611 | -36.8% |
| Financial debts | 170/4 | €436,598 | €275,988 | -€160,611 | -36.8% |
| Amounts payable within one year | 42/48 | €352,187 | €544,161 | +€191,974 | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €51,866 | €52,874 | +€1,008 | +1.9% |
| Financial debts | 43 | €150,000 | €310,000 | +€160,000 | +106.7% |
| Credit institutions | 430/8 | €150,000 | €310,000 | +€160,000 | +106.7% |
| Trade debts | 44 | €106,288 | €126,037 | +€19,748 | +18.6% |
| Suppliers | 440/4 | €106,288 | €126,037 | +€19,748 | +18.6% |
| Taxes, remuneration and social security | 45 | €44,032 | €55,250 | +€11,218 | +25.5% |
| Taxes | 450/3 | €14,725 | €16,163 | +€1,439 | +9.8% |
| Remuneration and social security | 454/9 | €29,308 | €39,087 | +€9,779 | +33.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €472 | €0 | -€472 | -100.0% |
| Remuneration, social security and pensions | 62 | €246,137 | €224,248 | -€21,889 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,927 | €36,909 | -€2,018 | -5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,612 | €0 | +€2,612 | |
| Other operating charges | 640/8 | €11,155 | €11,059 | -€96 | -0.9% |
| Non-recurring operating charges | 66A | €6,273 | €0 | -€6,273 | -100.0% |
| Gross operating margin | 9900 | €375,213 | €299,795 | -€75,418 | -20.1% |
| Operating profit (loss) | 9901 | €75,333 | €27,579 | -€47,754 | -63.4% |
| Financial income | 75/76B | €15,772 | €12,913 | -€2,859 | -18.1% |
| Recurring financial income | 75 | €15,772 | €12,913 | -€2,859 | -18.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €40,318 | €14,020 | -€26,298 | -65.2% |
| Recurring financial charges | 65 | €40,318 | €14,020 | -€26,298 | -65.2% |
| Profit (loss) for the period before taxes | 9903 | €50,787 | €26,472 | -€24,315 | -47.9% |
| Transfer from deferred taxes | 780 | €3,115 | €3,115 | = | 0.0% |
| Income taxes | 67/77 | €12,417 | €7,670 | -€4,748 | -38.2% |
| Profit (loss) for the period | 9904 | €41,485 | €21,917 | -€19,568 | -47.2% |
| Transfer from tax-exempt reserves | 789 | €6,050 | €6,050 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,534 | €27,967 | -€19,568 | -41.2% |
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 7 October 2026 via checked.be.