KOVO CONSTRUCT: 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.
KOVO CONSTRUCT
Largest movements
- Cash +€94,408
up €94,408 (+15.8%), from €597,804 to €692,212
mainly Trade debts (+€268,125) and Depreciation (+€113,234)
- Receivables within one year +€38,438
up €38,438 (+5.6%), from €684,443 to €722,880
of which Trade receivables: +€151,812
- Stocks and contracts +€29,589
up €29,589 (+24.1%), from €122,620 to €152,209
of which Contracts in progress: +€17,384
- Trade debts +€268,125
up €268,125 (+38.1%), from €703,708 to €971,833
- Reserves -€75,000
down €75,000 (-9.4%), from €795,860 to €720,860
of which Distributable reserves: -€75,000
- Tax, wage and social debts -€38,227
down €38,227 (-35.6%), from €107,402 to €69,174
of which Remuneration and social security: -€31,058
- Debts after one year -€29,272
down €29,272 (-18.7%), from €156,179 to €126,908
- Gross operating margin -€143,759
down €143,759 (-10.9%), from €1.3m to €1.2m
- Staff costs -€129,423
down €129,423 (-11.7%), from €1.1m to €977,823
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 | €1,873,021 | €2,023,688 | +€150,668 | +8.0% |
| Fixed assets | 21/28 | €446,131 | €442,206 | -€3,925 | -0.9% |
| Intangible fixed assets | 21 | €129 | - | -€129 | |
| Tangible fixed assets | 22/27 | €382,552 | €381,793 | -€759 | -0.2% |
| Land and buildings | 22 | €9,049 | €8,280 | -€769 | -8.5% |
| Plant, machinery and equipment | 23 | €216,184 | €182,879 | -€33,305 | -15.4% |
| Furniture and vehicles | 24 | €25,210 | €14,720 | -€10,490 | -41.6% |
| Leasing and similar rights | 25 | €132,109 | €175,914 | +€43,805 | +33.2% |
| Financial fixed assets | 28 | €63,450 | €60,413 | -€3,037 | -4.8% |
| Current assets | 29/58 | €1,426,890 | €1,581,482 | +€154,592 | +10.8% |
| Stocks and contracts in progress | 3 | €122,620 | €152,209 | +€29,589 | +24.1% |
| Stocks | 30/36 | €97,795 | €110,000 | +€12,205 | +12.5% |
| Contracts in progress | 37 | €24,825 | €42,209 | +€17,384 | +70.0% |
| Amounts receivable within one year | 40/41 | €684,443 | €722,880 | +€38,438 | +5.6% |
| Trade receivables | 40 | €488,440 | €640,252 | +€151,812 | +31.1% |
| Other amounts receivable | 41 | €196,002 | €82,628 | -€113,374 | -57.8% |
| Cash at bank and in hand | 54/58 | €597,804 | €692,212 | +€94,408 | +15.8% |
| Deferred charges and accrued income | 490/1 | €22,024 | €14,181 | -€7,843 | -35.6% |
| Total equity and liabilities | 10/49 | €1,873,021 | €2,023,688 | +€150,668 | +8.0% |
| Equity | 10/15 | €832,006 | €756,952 | -€75,054 | -9.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €795,860 | €720,860 | -€75,000 | -9.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €794,000 | €719,000 | -€75,000 | -9.4% |
| Profit (loss) carried forward | 14 | €29,946 | €29,892 | -€54 | -0.2% |
| Amounts payable | 17/49 | €1,041,015 | €1,266,737 | +€225,722 | +21.7% |
| Amounts payable after more than one year | 17 | €156,179 | €126,908 | -€29,272 | -18.7% |
| Financial debts | 170/4 | €156,179 | €126,908 | -€29,272 | -18.7% |
| Amounts payable within one year | 42/48 | €884,836 | €1,139,829 | +€254,993 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €73,726 | €85,176 | +€11,450 | +15.5% |
| Trade debts | 44 | €703,708 | €971,833 | +€268,125 | +38.1% |
| Suppliers | 440/4 | €703,708 | €971,833 | +€268,125 | +38.1% |
| Taxes, remuneration and social security | 45 | €107,402 | €69,174 | -€38,227 | -35.6% |
| Taxes | 450/3 | €7,729 | €559 | -€7,170 | -92.8% |
| Remuneration and social security | 454/9 | €99,673 | €68,615 | -€31,058 | -31.2% |
| Other amounts payable | 47/48 | - | €13,646 | +€13,646 | |
| Non-recurring operating income | 76A | - | €22,500 | +€22,500 | |
| Remuneration, social security and pensions | 62 | €1,107,246 | €977,823 | -€129,423 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,173 | €113,234 | +€1,061 | +0.9% |
| Other operating charges | 640/8 | €26,699 | €20,344 | -€6,355 | -23.8% |
| Non-recurring operating charges | 66A | €452 | - | -€452 | |
| Gross operating margin | 9900 | €1,323,639 | €1,179,879 | -€143,759 | -10.9% |
| Operating profit (loss) | 9901 | €77,068 | €68,478 | -€8,590 | -11.1% |
| Financial income | 75/76B | €7,780 | €4,509 | -€3,271 | -42.0% |
| Recurring financial income | 75 | €7,780 | €4,509 | -€3,271 | -42.0% |
| Financial charges | 65/66B | €17,790 | €18,837 | +€1,047 | +5.9% |
| Recurring financial charges | 65 | €17,790 | €18,837 | +€1,047 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €67,057 | €54,150 | -€12,907 | -19.2% |
| Transfer from deferred taxes | 780 | €1,684 | - | -€1,684 | |
| Income taxes | 67/77 | €25,044 | €19,204 | -€5,840 | -23.3% |
| Profit (loss) for the period | 9904 | €43,697 | €34,946 | -€8,751 | -20.0% |
| Transfer from tax-exempt reserves | 789 | €7,757 | - | -€7,757 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,454 | €34,946 | -€16,508 | -32.1% |
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 17 October 2026 via checked.be.