KOVAL: 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.
KOVAL
Largest movements
- Cash -€33,617
down €33,617 (-22.5%), from €149,224 to €115,608
mainly Receivables within one year (-€31,099) and Tax, wage and social debts (-€5,709)
- Receivables within one year +€31,099
up €31,099 (+43.9%), from €70,898 to €101,997
of which Other amounts receivable: +€33,674
- Tax, wage and social debts -€5,709
down €5,709 (-74.6%), from €7,657 to €1,948
- Profit (loss) carried forward +€3,387
new in 2025: €3,387
- Gross operating margin -€19,610
down €19,610 (-76.1%), from €25,777 to €6,167
- Taxes -€5,709
down €5,709 (-74.6%), from €7,657 to €1,948
- Financial income +€1,590
up €1,590 (+44.5%), from €3,571 to €5,161
- Other operating charges -€773
down €773 (-12.2%), from €6,320 to €5,547
- Financial charges +€268
up €268 (+149.9%), from €179 to €446
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 | €237,899 | €235,401 | -€2,498 | -1.1% |
| Fixed assets | 21/28 | €17,366 | €17,366 | = | 0.0% |
| Intangible fixed assets | 21 | €1,706 | €1,706 | = | 0.0% |
| Tangible fixed assets | 22/27 | €14,661 | €14,661 | = | 0.0% |
| Land and buildings | 22 | €14,661 | €14,661 | = | 0.0% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €220,533 | €218,035 | -€2,498 | -1.1% |
| Amounts receivable within one year | 40/41 | €70,898 | €101,997 | +€31,099 | +43.9% |
| Trade receivables | 40 | €2,576 | - | -€2,576 | |
| Other amounts receivable | 41 | €68,323 | €101,997 | +€33,674 | +49.3% |
| Cash at bank and in hand | 54/58 | €149,224 | €115,608 | -€33,617 | -22.5% |
| Deferred charges and accrued income | 490/1 | €410 | €430 | +€20 | +4.9% |
| Total equity and liabilities | 10/49 | €237,899 | €235,401 | -€2,498 | -1.1% |
| Equity | 10/15 | €225,138 | €228,525 | +€3,387 | +1.5% |
| Contributions | 10/11 | €69,500 | €69,500 | = | 0.0% |
| Capital | 10 | €69,500 | €69,500 | = | 0.0% |
| Issued capital | 100 | €69,500 | €69,500 | = | 0.0% |
| Reserves | 13 | €155,638 | €155,638 | = | 0.0% |
| Distributable reserves | 133 | €155,638 | €155,638 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €3,387 | +€3,387 | |
| Amounts payable | 17/49 | €12,761 | €6,876 | -€5,885 | -46.1% |
| Amounts payable within one year | 42/48 | €11,854 | €5,019 | -€6,835 | -57.7% |
| Trade debts | 44 | €4,197 | €3,071 | -€1,126 | -26.8% |
| Suppliers | 440/4 | €4,197 | €3,071 | -€1,126 | -26.8% |
| Taxes, remuneration and social security | 45 | €7,657 | €1,948 | -€5,709 | -74.6% |
| Taxes | 450/3 | €7,657 | €1,948 | -€5,709 | -74.6% |
| Accrued charges and deferred income | 492/3 | €907 | €1,857 | +€950 | +104.7% |
| Other operating charges | 640/8 | €6,320 | €5,547 | -€773 | -12.2% |
| Gross operating margin | 9900 | €25,777 | €6,167 | -€19,610 | -76.1% |
| Operating profit (loss) | 9901 | €19,458 | €620 | -€18,838 | -96.8% |
| Financial income | 75/76B | €3,571 | €5,161 | +€1,590 | +44.5% |
| Recurring financial income | 75 | €3,571 | €5,161 | +€1,590 | +44.5% |
| Financial charges | 65/66B | €179 | €446 | +€268 | +149.9% |
| Recurring financial charges | 65 | €179 | €446 | +€268 | +149.9% |
| Profit (loss) for the period before taxes | 9903 | €22,850 | €5,335 | -€17,515 | -76.7% |
| Income taxes | 67/77 | €7,657 | €1,948 | -€5,709 | -74.6% |
| Profit (loss) for the period | 9904 | €15,193 | €3,387 | -€11,806 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,193 | €3,387 | -€11,806 | -77.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.