KOVREN: 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.
KOVREN
Largest movements
- Receivables within one year +€10,641
up €10,641 (+9.3%), from €114,810 to €125,451
of which Trade receivables: +€10,916
- Cash -€5,304
down €5,304 (-31.5%), from €16,839 to €11,535
mainly Receivables within one year (-€10,641) and Other debts (-€7,161)
- Reserves +€15,000
up €15,000 (+17.7%), from €84,860 to €99,860
- Other debts -€7,161
down €7,161 (-76.0%), from €9,426 to €2,265
- Tax, wage and social debts -€4,078
down €4,078 (-15.7%), from €25,909 to €21,830
of which Remuneration and social security: -€6,595
- Other operating charges +€567
up €567 (+110.3%), from €514 to €1,080
- Taxes -€436
down €436 (-6.3%), from €6,953 to €6,517
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 | €134,079 | €139,702 | +€5,623 | +4.2% |
| Fixed assets | 21/28 | €2,033 | €2,299 | +€266 | +13.1% |
| Tangible fixed assets | 22/27 | €1,683 | €1,949 | +€266 | +15.8% |
| Plant, machinery and equipment | 23 | - | €422 | +€422 | |
| Furniture and vehicles | 24 | €1,683 | €1,527 | -€156 | -9.2% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €132,046 | €137,403 | +€5,357 | +4.1% |
| Amounts receivable within one year | 40/41 | €114,810 | €125,451 | +€10,641 | +9.3% |
| Trade receivables | 40 | €112,330 | €123,245 | +€10,916 | +9.7% |
| Other amounts receivable | 41 | €2,481 | €2,205 | -€275 | -11.1% |
| Cash at bank and in hand | 54/58 | €16,839 | €11,535 | -€5,304 | -31.5% |
| Deferred charges and accrued income | 490/1 | €397 | €417 | +€20 | +5.1% |
| Total equity and liabilities | 10/49 | €134,079 | €139,702 | +€5,623 | +4.2% |
| Equity | 10/15 | €97,012 | €112,787 | +€15,776 | +16.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €84,860 | €99,860 | +€15,000 | +17.7% |
| Distributable reserves | 133 | €84,860 | €99,860 | +€15,000 | +17.7% |
| Profit (loss) carried forward | 14 | €2,152 | €2,928 | +€776 | +36.0% |
| Amounts payable | 17/49 | €37,067 | €26,914 | -€10,153 | -27.4% |
| Amounts payable within one year | 42/48 | €37,067 | €26,914 | -€10,153 | -27.4% |
| Trade debts | 44 | €1,733 | €2,819 | +€1,087 | +62.7% |
| Suppliers | 440/4 | €1,733 | €2,819 | +€1,087 | +62.7% |
| Taxes, remuneration and social security | 45 | €25,909 | €21,830 | -€4,078 | -15.7% |
| Taxes | 450/3 | €6,953 | €9,470 | +€2,517 | +36.2% |
| Remuneration and social security | 454/9 | €18,956 | €12,361 | -€6,595 | -34.8% |
| Other amounts payable | 47/48 | €9,426 | €2,265 | -€7,161 | -76.0% |
| Remuneration, social security and pensions | 62 | €2,916 | €3,151 | +€235 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,388 | €1,117 | -€270 | -19.5% |
| Other operating charges | 640/8 | €514 | €1,080 | +€567 | +110.3% |
| Gross operating margin | 9900 | €27,539 | €27,814 | +€274 | +1.0% |
| Operating profit (loss) | 9901 | €22,722 | €22,465 | -€257 | -1.1% |
| Financial income | 75/76B | €0 | €37 | +€37 | +187050.0% |
| Recurring financial income | 75 | €0 | €37 | +€37 | +187050.0% |
| Financial charges | 65/66B | €304 | €210 | -€93 | -30.7% |
| Recurring financial charges | 65 | €304 | €210 | -€93 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €22,419 | €22,292 | -€126 | -0.6% |
| Income taxes | 67/77 | €6,953 | €6,517 | -€436 | -6.3% |
| Profit (loss) for the period | 9904 | €15,466 | €15,776 | +€310 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,466 | €15,776 | +€310 | +2.0% |
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.