KOVETEC: what changed
KOVETEC
Largest movements
- Cash +€41,191
up €41,191 (+285%), from €14,438 to €55,629
mainly Receivables within one year (+€36,022) and Depreciation (+€13,746)
- Receivables within one year -€36,022
down €36,022 (-34.5%), from €104,269 to €68,247
of which Trade receivables: -€36,170
- Tangible fixed assets -€12,315
down €12,315 (-46.0%), from €26,789 to €14,474
of which Furniture and vehicles: -€11,835
- Stocks and contracts +€2,570
up €2,570 (+22.8%), from €11,280 to €13,850
- Debts after one year -€7,215
down €7,215 (-68.8%), from €10,487 to €3,272
- Trade debts +€5,837
up €5,837 (+15.3%), from €38,076 to €43,913
- Current portion of long-term debt -€5,042
down €5,042 (-41.1%), from €12,257 to €7,215
- Other debts +€1,810
new in 2025: €1,810
- Gross operating margin -€8,819
down €8,819 (-34.5%), from €25,588 to €16,769
- Taxes -€2,143
down €2,143 (-85.8%), from €2,497 to €353
- Financial charges +€1,652
up €1,652 (+76.1%), from €2,170 to €3,822
- Financial income -€1,039
down €1,039 (-23.3%), from €4,462 to €3,423
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €156,863 | €153,492 | -€3,371 | -2.1% |
| Fixed assets | 21/28 | €26,789 | €14,474 | -€12,315 | -46.0% |
| Tangible fixed assets | 22/27 | €26,789 | €14,474 | -€12,315 | -46.0% |
| Land and buildings | 22 | €115 | - | -€115 | |
| Plant, machinery and equipment | 23 | €790 | €426 | -€365 | -46.2% |
| Furniture and vehicles | 24 | €25,884 | €14,049 | -€11,835 | -45.7% |
| Current assets | 29/58 | €130,074 | €139,018 | +€8,944 | +6.9% |
| Stocks and contracts in progress | 3 | €11,280 | €13,850 | +€2,570 | +22.8% |
| Stocks | 30/36 | €11,280 | €13,850 | +€2,570 | +22.8% |
| Amounts receivable within one year | 40/41 | €104,269 | €68,247 | -€36,022 | -34.5% |
| Trade receivables | 40 | €94,729 | €58,558 | -€36,170 | -38.2% |
| Other amounts receivable | 41 | €9,540 | €9,688 | +€148 | +1.6% |
| Cash at bank and in hand | 54/58 | €14,438 | €55,629 | +€41,191 | +285% |
| Deferred charges and accrued income | 490/1 | €87 | €1,293 | +€1,206 | +1,387% |
| Total equity and liabilities | 10/49 | €156,863 | €153,492 | -€3,371 | -2.1% |
| Equity | 10/15 | €93,061 | €93,932 | +€871 | +0.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €80,661 | €81,532 | +€871 | +1.1% |
| Distributable reserves | 133 | €80,661 | €81,532 | +€871 | +1.1% |
| Amounts payable | 17/49 | €63,802 | €59,560 | -€4,242 | -6.6% |
| Amounts payable after more than one year | 17 | €10,487 | €3,272 | -€7,215 | -68.8% |
| Financial debts | 170/4 | €10,487 | €3,272 | -€7,215 | -68.8% |
| Amounts payable within one year | 42/48 | €53,315 | €56,288 | +€2,973 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €12,257 | €7,215 | -€5,042 | -41.1% |
| Trade debts | 44 | €38,076 | €43,913 | +€5,837 | +15.3% |
| Suppliers | 440/4 | €38,076 | €43,913 | +€5,837 | +15.3% |
| Taxes, remuneration and social security | 45 | €2,983 | €3,350 | +€367 | +12.3% |
| Taxes | 450/3 | €1,058 | €1,411 | +€353 | +33.4% |
| Remuneration and social security | 454/9 | €1,925 | €1,939 | +€14 | +0.7% |
| Other amounts payable | 47/48 | - | €1,810 | +€1,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,567 | €13,746 | +€180 | +1.3% |
| Other operating charges | 640/8 | €1,236 | €1,399 | +€163 | +13.2% |
| Gross operating margin | 9900 | €25,588 | €16,769 | -€8,819 | -34.5% |
| Operating profit (loss) | 9901 | €10,786 | €1,623 | -€9,162 | -84.9% |
| Financial income | 75/76B | €4,462 | €3,423 | -€1,039 | -23.3% |
| Recurring financial income | 75 | €4,462 | €3,423 | -€1,039 | -23.3% |
| Financial charges | 65/66B | €2,170 | €3,822 | +€1,652 | +76.1% |
| Recurring financial charges | 65 | €2,170 | €3,822 | +€1,652 | +76.1% |
| Profit (loss) for the period before taxes | 9903 | €13,077 | €1,225 | -€11,853 | -90.6% |
| Income taxes | 67/77 | €2,497 | €353 | -€2,143 | -85.8% |
| Profit (loss) for the period | 9904 | €10,581 | €871 | -€9,710 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,581 | €871 | -€9,710 | -91.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.