KRIVACO: 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.
KRIVACO
Largest movements
- Cash -€137,601
down €137,601 (-19.8%), from €694,413 to €556,812
mainly Debts after one year (-€95,289) and Receivables within one year (-€44,974)
- Receivables within one year +€44,974
up €44,974 (+15.4%), from €291,897 to €336,871
of which Other amounts receivable: +€71,923
- Current investments +€23,415
up €23,415 (+1,200%), from €1,952 to €25,367
- Debts after one year -€95,289
down €95,289 (-32.9%), from €289,807 to €194,518
- Tax, wage and social debts -€34,000
down €34,000 (-84.0%), from €40,500 to €6,500
- Short-term financial debts +€24,367
up €24,367 (+53.0%), from €46,002 to €70,369
- Gross operating margin -€275,793
down €275,793 (-87.9%), from €313,656 to €37,864
- Taxes -€71,553
down €71,553 (-96.9%), from €73,876 to €2,323
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 | €2,108,520 | €2,030,799 | -€77,721 | -3.7% |
| Fixed assets | 21/28 | €1,118,821 | €1,111,151 | -€7,670 | -0.7% |
| Tangible fixed assets | 22/27 | €105,794 | €85,632 | -€20,161 | -19.1% |
| Land and buildings | 22 | €95,129 | €76,557 | -€18,572 | -19.5% |
| Plant, machinery and equipment | 23 | €1,056 | €438 | -€618 | -58.5% |
| Furniture and vehicles | 24 | €9,609 | €8,637 | -€972 | -10.1% |
| Financial fixed assets | 28 | €1,013,027 | €1,025,518 | +€12,491 | +1.2% |
| Current assets | 29/58 | €989,699 | €919,648 | -€70,051 | -7.1% |
| Amounts receivable within one year | 40/41 | €291,897 | €336,871 | +€44,974 | +15.4% |
| Trade receivables | 40 | €285,594 | €258,645 | -€26,949 | -9.4% |
| Other amounts receivable | 41 | €6,303 | €78,226 | +€71,923 | +1,141% |
| Current investments | 50/53 | €1,952 | €25,367 | +€23,415 | +1,200% |
| Cash at bank and in hand | 54/58 | €694,413 | €556,812 | -€137,601 | -19.8% |
| Deferred charges and accrued income | 490/1 | €1,437 | €599 | -€838 | -58.3% |
| Total equity and liabilities | 10/49 | €2,108,520 | €2,030,799 | -€77,721 | -3.7% |
| Equity | 10/15 | €1,688,281 | €1,692,830 | +€4,549 | +0.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,674,021 | €1,678,570 | +€4,549 | +0.3% |
| Amounts payable | 17/49 | €420,238 | €337,969 | -€82,269 | -19.6% |
| Amounts payable after more than one year | 17 | €289,807 | €194,518 | -€95,289 | -32.9% |
| Financial debts | 170/4 | €289,807 | €194,518 | -€95,289 | -32.9% |
| Amounts payable within one year | 42/48 | €130,431 | €143,451 | +€13,020 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Financial debts | 43 | €46,002 | €70,369 | +€24,367 | +53.0% |
| Credit institutions | 430/8 | €46,002 | €70,369 | +€24,367 | +53.0% |
| Trade debts | 44 | €9,488 | €18,808 | +€9,320 | +98.2% |
| Suppliers | 440/4 | €9,488 | €18,808 | +€9,320 | +98.2% |
| Taxes, remuneration and social security | 45 | €40,500 | €6,500 | -€34,000 | -84.0% |
| Taxes | 450/3 | €40,500 | €6,500 | -€34,000 | -84.0% |
| Other amounts payable | 47/48 | €24,442 | €37,774 | +€13,333 | +54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,424 | €20,161 | +€737 | +3.8% |
| Other operating charges | 640/8 | €2,620 | €3,099 | +€479 | +18.3% |
| Gross operating margin | 9900 | €313,656 | €37,864 | -€275,793 | -87.9% |
| Operating profit (loss) | 9901 | €291,612 | €14,603 | -€277,009 | -95.0% |
| Financial income | 75/76B | €857 | €2,204 | +€1,346 | +157% |
| Recurring financial income | 75 | €857 | €2,204 | +€1,346 | +157% |
| Financial charges | 65/66B | €10,924 | €9,935 | -€989 | -9.1% |
| Recurring financial charges | 65 | €10,924 | €9,935 | -€989 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €281,545 | €6,872 | -€274,674 | -97.6% |
| Income taxes | 67/77 | €73,876 | €2,323 | -€71,553 | -96.9% |
| Profit (loss) for the period | 9904 | €207,670 | €4,549 | -€203,121 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | €207,670 | €4,549 | -€203,121 | -97.8% |
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.