KOVIA: 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.
KOVIA
Largest movements
- Receivables within one year -€31,394
down €31,394 (-38.7%), from €81,147 to €49,753
of which Trade receivables: -€35,982
- Cash +€26,096
up €26,096 (+677.4%), from €3,852 to €29,949
mainly Receivables within one year (+€31,394) and Debts after one year (+€15,813)
- Tangible fixed assets +€15,797
up €15,797 (+5.9%), from €269,973 to €285,770
of which Assets under construction and advance payments: +€28,447
- Debts after one year +€15,813
up €15,813 (+10.5%), from €151,119 to €166,932
- Other debts -€5,289
down €5,289 (-11.3%), from €46,892 to €41,603
- Gross operating margin -€52,090
down €52,090 (-62.5%), from €83,362 to €31,272
- Depreciation -€16,382
down €16,382 (-56.4%), from €29,032 to €12,650
- Taxes -€11,491
down €11,491 (-78.4%), from €14,661 to €3,170
- Financial charges +€1,718
up €1,718 (+16.2%), from €10,585 to €12,304
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 | €359,115 | €372,692 | +€13,577 | +3.8% |
| Fixed assets | 21/28 | €269,973 | €285,770 | +€15,797 | +5.9% |
| Tangible fixed assets | 22/27 | €269,973 | €285,770 | +€15,797 | +5.9% |
| Land and buildings | 22 | €178,645 | €168,523 | -€10,123 | -5.7% |
| Furniture and vehicles | 24 | €54,053 | €51,526 | -€2,527 | -4.7% |
| Assets under construction and advance payments | 27 | €37,275 | €65,721 | +€28,447 | +76.3% |
| Current assets | 29/58 | €89,142 | €86,922 | -€2,220 | -2.5% |
| Amounts receivable within one year | 40/41 | €81,147 | €49,753 | -€31,394 | -38.7% |
| Trade receivables | 40 | €73,905 | €37,923 | -€35,982 | -48.7% |
| Other amounts receivable | 41 | €7,242 | €11,830 | +€4,588 | +63.4% |
| Cash at bank and in hand | 54/58 | €3,852 | €29,949 | +€26,096 | +677.4% |
| Deferred charges and accrued income | 490/1 | €4,142 | €7,220 | +€3,078 | +74.3% |
| Total equity and liabilities | 10/49 | €359,115 | €372,692 | +€13,577 | +3.8% |
| Equity | 10/15 | €139,669 | €141,019 | +€1,350 | +1.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €127,269 | €128,619 | +€1,350 | +1.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €127,269 | €128,619 | +€1,350 | +1.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €219,446 | €231,673 | +€12,227 | +5.6% |
| Amounts payable after more than one year | 17 | €151,119 | €166,932 | +€15,813 | +10.5% |
| Financial debts | 170/4 | €151,119 | €166,932 | +€15,813 | +10.5% |
| Amounts payable within one year | 42/48 | €65,819 | €61,937 | -€3,883 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €15,935 | €14,877 | -€1,057 | -6.6% |
| Trade debts | 44 | €1,741 | €827 | -€914 | -52.5% |
| Suppliers | 440/4 | €1,741 | €827 | -€914 | -52.5% |
| Taxes, remuneration and social security | 45 | €1,252 | €4,629 | +€3,377 | +269.9% |
| Taxes | 450/3 | - | €4,629 | +€4,629 | |
| Remuneration and social security | 454/9 | €1,252 | €0 | -€1,252 | -100.0% |
| Other amounts payable | 47/48 | €46,892 | €41,603 | -€5,289 | -11.3% |
| Accrued charges and deferred income | 492/3 | €2,508 | €2,805 | +€297 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,032 | €12,650 | -€16,382 | -56.4% |
| Other operating charges | 640/8 | €1,582 | €1,879 | +€297 | +18.8% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -100.0% |
| Gross operating margin | 9900 | €83,362 | €31,272 | -€52,090 | -62.5% |
| Operating profit (loss) | 9901 | €52,748 | €16,743 | -€36,005 | -68.3% |
| Financial income | 75/76B | €20 | €80 | +€60 | +297.9% |
| Recurring financial income | 75 | €20 | €80 | +€60 | +297.9% |
| Financial charges | 65/66B | €10,585 | €12,304 | +€1,718 | +16.2% |
| Recurring financial charges | 65 | €10,585 | €12,304 | +€1,718 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €42,183 | €4,520 | -€37,663 | -89.3% |
| Income taxes | 67/77 | €14,661 | €3,170 | -€11,491 | -78.4% |
| Profit (loss) for the period | 9904 | €27,522 | €1,350 | -€26,172 | -95.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,522 | €1,350 | -€26,172 | -95.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.