KOVISMA: what changed
Two fiscal 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.
KOVISMA
Largest movements
- Current investments +€50,442
new in 2025: €50,442
- Cash -€20,766
down €20,766 (-12.3%), from €168,455 to €147,689
mainly Current investments (-€50,442) and Tax, wage and social debts (-€30,290)
- Receivables within one year +€10,890
up €10,890 (+100.0%), from €10,890 to €21,780
of which Trade receivables: +€10,890
- Tangible fixed assets -€2,619
down €2,619 (-18.6%), from €14,051 to €11,432
of which Furniture and vehicles: -€3,521
- Profit (loss) carried forward +€63,224
up €63,224 (+96.0%), from €65,832 to €129,056
- Tax, wage and social debts -€30,290
down €30,290 (-60.0%), from €50,496 to €20,206
- Other debts +€5,220
up €5,220 (+1641.8%), from €318 to €5,538
- Gross operating margin -€2,247
down €2,247 (-2.6%), from €86,994 to €84,747
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 | €196,457 | €234,484 | +€38,028 | +19.4% |
| Fixed assets | 21/28 | €14,051 | €11,432 | -€2,619 | -18.6% |
| Tangible fixed assets | 22/27 | €14,051 | €11,432 | -€2,619 | -18.6% |
| Plant, machinery and equipment | 23 | €2,000 | €2,902 | +€902 | +45.1% |
| Furniture and vehicles | 24 | €12,051 | €8,531 | -€3,521 | -29.2% |
| Current assets | 29/58 | €182,405 | €223,052 | +€40,647 | +22.3% |
| Amounts receivable within one year | 40/41 | €10,890 | €21,780 | +€10,890 | +100.0% |
| Trade receivables | 40 | €10,890 | €21,780 | +€10,890 | +100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €50,442 | +€50,442 | |
| Cash at bank and in hand | 54/58 | €168,455 | €147,689 | -€20,766 | -12.3% |
| Deferred charges and accrued income | 490/1 | €3,060 | €3,141 | +€81 | +2.6% |
| Total equity and liabilities | 10/49 | €196,457 | €234,484 | +€38,028 | +19.4% |
| Equity | 10/15 | €145,516 | €208,740 | +€63,224 | +43.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €77,685 | €77,685 | = | 0.0% |
| Distributable reserves | 133 | €77,685 | €77,685 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,832 | €129,056 | +€63,224 | +96.0% |
| Amounts payable | 17/49 | €50,940 | €25,744 | -€25,196 | -49.5% |
| Amounts payable within one year | 42/48 | €50,940 | €25,744 | -€25,196 | -49.5% |
| Trade debts | 44 | €126 | €0 | -€126 | -100.0% |
| Suppliers | 440/4 | €126 | €0 | -€126 | -100.0% |
| Taxes, remuneration and social security | 45 | €50,496 | €20,206 | -€30,290 | -60.0% |
| Taxes | 450/3 | €50,496 | €20,206 | -€30,290 | -60.0% |
| Other amounts payable | 47/48 | €318 | €5,538 | +€5,220 | +1641.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,641 | €3,919 | +€278 | +7.6% |
| Other operating charges | 640/8 | €3,150 | €3,203 | +€54 | +1.7% |
| Gross operating margin | 9900 | €86,994 | €84,747 | -€2,247 | -2.6% |
| Operating profit (loss) | 9901 | €80,203 | €77,625 | -€2,579 | -3.2% |
| Financial income | 75/76B | €2,325 | €2,140 | -€185 | -8.0% |
| Recurring financial income | 75 | €2,325 | €2,140 | -€185 | -8.0% |
| Financial charges | 65/66B | €84 | €590 | +€506 | +601.7% |
| Recurring financial charges | 65 | €84 | €590 | +€506 | +601.7% |
| Profit (loss) for the period before taxes | 9903 | €82,444 | €79,175 | -€3,269 | -4.0% |
| Income taxes | 67/77 | €16,612 | €15,951 | -€662 | -4.0% |
| Profit (loss) for the period | 9904 | €65,832 | €63,224 | -€2,608 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,832 | €63,224 | -€2,608 | -4.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.