KOVETO: 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.
KOVETO
Largest movements
- Cash +€7,464
up €7,464 (+20.5%), from €36,383 to €43,847
mainly Depreciation (+€7,269) and Net result for the year (+€4,802)
- Tangible fixed assets -€7,269
down €7,269 (-21.2%), from €34,221 to €26,952
- Debts after one year -€5,470
down €5,470 (-17.9%), from €30,503 to €25,033
of which Financial debts: -€5,445
- Reserves +€4,802
up €4,802 (+28.3%), from €16,966 to €21,768
- Depreciation +€5,144
up €5,144 (+242%), from €2,125 to €7,269
- Gross operating margin -€1,553
down €1,553 (-8.6%), from €18,099 to €16,546
- Other operating charges -€1,094
down €1,094 (-61.0%), from €1,795 to €701
- Taxes -€714
down €714 (-19.0%), from €3,758 to €3,044
- Financial charges +€347
up €347 (+90.8%), from €382 to €730
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 | €70,605 | €70,799 | +€195 | +0.3% |
| Fixed assets | 21/28 | €34,221 | €26,952 | -€7,269 | -21.2% |
| Tangible fixed assets | 22/27 | €34,221 | €26,952 | -€7,269 | -21.2% |
| Furniture and vehicles | 24 | €34,221 | €26,952 | -€7,269 | -21.2% |
| Current assets | 29/58 | €36,383 | €43,847 | +€7,464 | +20.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €36,383 | €43,847 | +€7,464 | +20.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €70,605 | €70,799 | +€195 | +0.3% |
| Equity | 10/15 | €19,966 | €24,768 | +€4,802 | +24.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,966 | €21,768 | +€4,802 | +28.3% |
| Distributable reserves | 133 | €16,966 | €21,768 | +€4,802 | +28.3% |
| Amounts payable | 17/49 | €50,638 | €46,031 | -€4,607 | -9.1% |
| Amounts payable after more than one year | 17 | €30,503 | €25,033 | -€5,470 | -17.9% |
| Financial debts | 170/4 | €15,470 | €10,025 | -€5,445 | -35.2% |
| Other amounts payable | 178/9 | €15,033 | €15,008 | -€25 | -0.2% |
| Amounts payable within one year | 42/48 | €20,056 | €20,878 | +€823 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €5,248 | €5,445 | +€197 | +3.8% |
| Trade debts | 44 | €177 | €354 | +€177 | +100% |
| Suppliers | 440/4 | €177 | €354 | +€177 | +100% |
| Taxes, remuneration and social security | 45 | €14,030 | €14,478 | +€449 | +3.2% |
| Taxes | 450/3 | €12,370 | €12,818 | +€449 | +3.6% |
| Remuneration and social security | 454/9 | €1,660 | €1,660 | = | 0.0% |
| Other amounts payable | 47/48 | €601 | €601 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €80 | €120 | +€40 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,125 | €7,269 | +€5,144 | +242% |
| Other operating charges | 640/8 | €1,795 | €701 | -€1,094 | -61.0% |
| Gross operating margin | 9900 | €18,099 | €16,546 | -€1,553 | -8.6% |
| Operating profit (loss) | 9901 | €14,179 | €8,576 | -€5,603 | -39.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €382 | €730 | +€347 | +90.8% |
| Recurring financial charges | 65 | €382 | €730 | +€347 | +90.8% |
| Profit (loss) for the period before taxes | 9903 | €13,797 | €7,846 | -€5,950 | -43.1% |
| Income taxes | 67/77 | €3,758 | €3,044 | -€714 | -19.0% |
| Profit (loss) for the period | 9904 | €10,039 | €4,802 | -€5,237 | -52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,039 | €4,802 | -€5,237 | -52.2% |
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 19 October 2026 via checked.be.