KOVIMO REAL ESTATE: 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.
KOVIMO REAL ESTATE
Largest movements
- Receivables within one year +€101,709
up €101,709 (+252%), from €40,361 to €142,069
of which Trade receivables: +€91,523
- Tangible fixed assets -€39,942
down €39,942 (-90.6%), from €44,109 to €4,167
of which Other tangible fixed assets: -€44,109
- Cash -€9,791
down €9,791 (-49.5%), from €19,795 to €10,004
mainly Receivables within one year (-€101,709) and Advances received (-€41,250)
- Debts after one year +€98,261
up €98,261 (+425%), from €23,113 to €121,374
of which Financial debts: +€98,261
- Advances received -€41,250
no longer reported in 2025 (was €41,250)
- Trade debts -€7,098
down €7,098 (-25.6%), from €27,742 to €20,643
- Current portion of long-term debt +€3,571
up €3,571 (+91.4%), from €3,909 to €7,481
- Tax, wage and social debts -€3,023
down €3,023 (-21.8%), from €13,843 to €10,820
of which Remuneration and social security: -€3,087
- Staff costs -€19,818
down €19,818, from €19,588 to -€231
- Gross operating margin -€7,641
down €7,641 (-30.1%), from €25,373 to €17,732
- Financial charges +€5,536
up €5,536 (+129%), from €4,278 to €9,815
- Taxes +€3,412
up €3,412 (+315%), from €1,082 to €4,494
- Other operating charges -€1,249
down €1,249 (-68.7%), from €1,818 to €568
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 | €114,526 | €165,700 | +€51,174 | +44.7% |
| Fixed assets | 21/28 | €48,509 | €8,567 | -€39,942 | -82.3% |
| Tangible fixed assets | 22/27 | €44,109 | €4,167 | -€39,942 | -90.6% |
| Furniture and vehicles | 24 | - | €4,167 | +€4,167 | |
| Other tangible fixed assets | 26 | €44,109 | - | -€44,109 | |
| Financial fixed assets | 28 | €4,400 | €4,400 | = | 0.0% |
| Current assets | 29/58 | €66,017 | €157,133 | +€91,116 | +138% |
| Amounts receivable after more than one year | 29 | €4,101 | €4,101 | = | 0.0% |
| Other amounts receivable | 291 | €4,101 | €4,101 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,361 | €142,069 | +€101,709 | +252% |
| Trade receivables | 40 | €27,909 | €119,433 | +€91,523 | +328% |
| Other amounts receivable | 41 | €12,451 | €22,637 | +€10,185 | +81.8% |
| Cash at bank and in hand | 54/58 | €19,795 | €10,004 | -€9,791 | -49.5% |
| Deferred charges and accrued income | 490/1 | €1,761 | €959 | -€802 | -45.5% |
| Total equity and liabilities | 10/49 | €114,526 | €165,700 | +€51,174 | +44.7% |
| Equity | 10/15 | €2,649 | €5,381 | +€2,732 | +103% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,549 | €5,281 | +€2,732 | +107% |
| Amounts payable | 17/49 | €111,877 | €160,318 | +€48,442 | +43.3% |
| Amounts payable after more than one year | 17 | €23,113 | €121,374 | +€98,261 | +425% |
| Financial debts | 170/4 | €20,913 | €119,174 | +€98,261 | +470% |
| Other amounts payable | 178/9 | €2,200 | €2,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €86,744 | €38,944 | -€47,800 | -55.1% |
| Current portion of amounts payable after more than one year | 42 | €3,909 | €7,481 | +€3,571 | +91.4% |
| Trade debts | 44 | €27,742 | €20,643 | -€7,098 | -25.6% |
| Suppliers | 440/4 | €27,742 | €20,643 | -€7,098 | -25.6% |
| Advances received on contracts in progress | 46 | €41,250 | - | -€41,250 | |
| Taxes, remuneration and social security | 45 | €13,843 | €10,820 | -€3,023 | -21.8% |
| Taxes | 450/3 | €10,756 | €10,820 | +€64 | +0.6% |
| Remuneration and social security | 454/9 | €3,087 | - | -€3,087 | |
| Accrued charges and deferred income | 492/3 | €2,019 | - | -€2,019 | |
| Non-recurring operating income | 76A | - | €3,072 | +€3,072 | |
| Remuneration, social security and pensions | 62 | €19,588 | -€231 | -€19,818 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €799 | €783 | -€16 | -2.0% |
| Other operating charges | 640/8 | €1,818 | €568 | -€1,249 | -68.7% |
| Gross operating margin | 9900 | €25,373 | €17,732 | -€7,641 | -30.1% |
| Operating profit (loss) | 9901 | €3,169 | €16,611 | +€13,442 | +424% |
| Financial income | 75/76B | €169 | €429 | +€259 | +153% |
| Recurring financial income | 75 | €169 | €429 | +€259 | +153% |
| Financial charges | 65/66B | €4,278 | €9,815 | +€5,536 | +129% |
| Recurring financial charges | 65 | €4,278 | €9,815 | +€5,536 | +129% |
| Profit (loss) for the period before taxes | 9903 | -€940 | €7,226 | +€8,166 | |
| Income taxes | 67/77 | €1,082 | €4,494 | +€3,412 | +315% |
| Profit (loss) for the period | 9904 | -€2,022 | €2,732 | +€4,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,022 | €2,732 | +€4,754 |
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 26 October 2026 via checked.be.