KOVEBELO: 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.
KOVEBELO
Largest movements
- Receivables within one year +€96,178
up €96,178 (+1,102%), from €8,726 to €104,903
of which Other amounts receivable: +€95,754
- Cash -€72,002
down €72,002 (-76.3%), from €94,367 to €22,364
mainly Receivables within one year (-€96,178) and Investment in fixed assets (net) (-€17,850)
- Tangible fixed assets +€14,548
up €14,548 (+82.6%), from €17,619 to €32,167
of which Furniture and vehicles: +€14,890
- Deferred charges and accrued income +€11,374
up €11,374 (+25.8%), from €44,048 to €55,422
- Reserves +€44,716
up €44,716 (+9.2%), from €486,468 to €531,185
of which Distributable reserves: +€44,716
- Debts after one year +€8,240
new in 2025: €8,240
- Gross operating margin +€19,013
up €19,013 (+45.0%), from €42,246 to €61,259
- Financial income +€5,588
up €5,588 (+61.6%), from €9,065 to €14,653
- Taxes +€5,293
up €5,293 (+36.9%), from €14,344 to €19,636
- Depreciation +€2,160
up €2,160 (+189%), from €1,142 to €3,303
- Financial charges +€2,128
up €2,128 (+58.3%), from €3,649 to €5,777
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 | €514,760 | €564,857 | +€50,098 | +9.7% |
| Fixed assets | 21/28 | €17,619 | €32,167 | +€14,548 | +82.6% |
| Tangible fixed assets | 22/27 | €17,619 | €32,167 | +€14,548 | +82.6% |
| Land and buildings | 22 | €7,567 | €7,226 | -€342 | -4.5% |
| Furniture and vehicles | 24 | €10,052 | €24,941 | +€14,890 | +148% |
| Current assets | 29/58 | €497,141 | €532,690 | +€35,550 | +7.2% |
| Amounts receivable after more than one year | 29 | €350,000 | €350,000 | = | 0.0% |
| Other amounts receivable | 291 | €350,000 | €350,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,726 | €104,903 | +€96,178 | +1,102% |
| Trade receivables | 40 | €396 | €819 | +€423 | +107% |
| Other amounts receivable | 41 | €8,330 | €104,084 | +€95,754 | +1,150% |
| Cash at bank and in hand | 54/58 | €94,367 | €22,364 | -€72,002 | -76.3% |
| Deferred charges and accrued income | 490/1 | €44,048 | €55,422 | +€11,374 | +25.8% |
| Total equity and liabilities | 10/49 | €514,760 | €564,857 | +€50,098 | +9.7% |
| Equity | 10/15 | €492,668 | €537,385 | +€44,716 | +9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €486,468 | €531,185 | +€44,716 | +9.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €486,468 | €531,185 | +€44,716 | +9.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €22,091 | €27,472 | +€5,381 | +24.4% |
| Amounts payable after more than one year | 17 | - | €8,240 | +€8,240 | |
| Financial debts | 170/4 | - | €8,240 | +€8,240 | |
| Amounts payable within one year | 42/48 | €22,091 | €19,233 | -€2,859 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | - | €4,722 | +€4,722 | |
| Financial debts | 43 | €4,184 | €2,128 | -€2,057 | -49.2% |
| Credit institutions | 430/8 | €4,184 | €2,128 | -€2,057 | -49.2% |
| Trade debts | 44 | €4,277 | €540 | -€3,737 | -87.4% |
| Suppliers | 440/4 | €4,277 | €540 | -€3,737 | -87.4% |
| Taxes, remuneration and social security | 45 | €13,629 | €11,843 | -€1,786 | -13.1% |
| Taxes | 450/3 | €13,629 | €11,843 | -€1,786 | -13.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,142 | €3,303 | +€2,160 | +189% |
| Other operating charges | 640/8 | €2,320 | €2,480 | +€160 | +6.9% |
| Gross operating margin | 9900 | €42,246 | €61,259 | +€19,013 | +45.0% |
| Operating profit (loss) | 9901 | €38,784 | €55,476 | +€16,693 | +43.0% |
| Financial income | 75/76B | €9,065 | €14,653 | +€5,588 | +61.6% |
| Recurring financial income | 75 | €9,065 | €14,653 | +€5,588 | +61.6% |
| Financial charges | 65/66B | €3,649 | €5,777 | +€2,128 | +58.3% |
| Recurring financial charges | 65 | €3,649 | €5,777 | +€2,128 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | €44,200 | €64,353 | +€20,153 | +45.6% |
| Income taxes | 67/77 | €14,344 | €19,636 | +€5,293 | +36.9% |
| Profit (loss) for the period | 9904 | €29,856 | €44,716 | +€14,860 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,856 | €44,716 | +€14,860 | +49.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.