KRIVALO: 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.
KRIVALO
Largest movements
- Cash +€35,422
up €35,422 (+34.8%), from €101,914 to €137,337
mainly Net result for the year (+€81,840) and Depreciation (+€64,022)
- Tangible fixed assets +€21,112
up €21,112 (+2.8%), from €759,516 to €780,628
of which Plant, machinery and equipment: +€19,557
- Reserves +€81,840
up €81,840 (+78.4%), from €104,403 to €186,243
- Other debts -€22,271
down €22,271 (-10.5%), from €211,482 to €189,211
- Debts after one year -€21,110
down €21,110 (-5.1%), from €412,646 to €391,537
- Tax, wage and social debts +€10,137
up €10,137 (+137.9%), from €7,352 to €17,489
of which Remuneration and social security: +€8,957
- Staff costs +€56,614
up €56,614 (+131.3%), from €43,103 to €99,717
- Gross operating margin +€27,737
up €27,737 (+11.8%), from €235,341 to €263,078
- Other operating charges -€5,711
down €5,711 (-50.6%), from €11,293 to €5,582
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 | €885,289 | €938,710 | +€53,422 | +6.0% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €759,516 | €780,628 | +€21,112 | +2.8% |
| Tangible fixed assets | 22/27 | €759,516 | €780,628 | +€21,112 | +2.8% |
| Land and buildings | 22 | €730,189 | €737,065 | +€6,876 | +0.9% |
| Plant, machinery and equipment | 23 | €17,913 | €37,470 | +€19,557 | +109.2% |
| Furniture and vehicles | 24 | €11,414 | €6,092 | -€5,321 | -46.6% |
| Current assets | 29/58 | €125,773 | €158,083 | +€32,310 | +25.7% |
| Stocks and contracts in progress | 3 | €1,447 | €3,211 | +€1,764 | +121.9% |
| Stocks | 30/36 | €1,447 | €3,211 | +€1,764 | +121.9% |
| Amounts receivable within one year | 40/41 | €21,631 | €17,535 | -€4,097 | -18.9% |
| Trade receivables | 40 | €7,458 | €5,972 | -€1,486 | -19.9% |
| Other amounts receivable | 41 | €14,173 | €11,562 | -€2,611 | -18.4% |
| Cash at bank and in hand | 54/58 | €101,914 | €137,337 | +€35,422 | +34.8% |
| Deferred charges and accrued income | 490/1 | €780 | - | -€780 | |
| Total equity and liabilities | 10/49 | €885,289 | €938,710 | +€53,422 | +6.0% |
| Equity | 10/15 | €134,403 | €216,243 | +€81,840 | +60.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €104,403 | €186,243 | +€81,840 | +78.4% |
| Distributable reserves | 133 | €104,403 | €186,243 | +€81,840 | +78.4% |
| Amounts payable | 17/49 | €750,886 | €722,467 | -€28,418 | -3.8% |
| Amounts payable after more than one year | 17 | €412,646 | €391,537 | -€21,110 | -5.1% |
| Financial debts | 170/4 | €412,646 | €391,537 | -€21,110 | -5.1% |
| Amounts payable within one year | 42/48 | €338,239 | €330,931 | -€7,309 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €36,578 | €40,803 | +€4,225 | +11.6% |
| Trade debts | 44 | €82,827 | €83,427 | +€600 | +0.7% |
| Suppliers | 440/4 | €82,827 | €83,427 | +€600 | +0.7% |
| Taxes, remuneration and social security | 45 | €7,352 | €17,489 | +€10,137 | +137.9% |
| Taxes | 450/3 | - | €1,180 | +€1,180 | |
| Remuneration and social security | 454/9 | €7,352 | €16,309 | +€8,957 | +121.8% |
| Other amounts payable | 47/48 | €211,482 | €189,211 | -€22,271 | -10.5% |
| Remuneration, social security and pensions | 62 | €43,103 | €99,717 | +€56,614 | +131.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,289 | €64,022 | -€2,268 | -3.4% |
| Other operating charges | 640/8 | €11,293 | €5,582 | -€5,711 | -50.6% |
| Gross operating margin | 9900 | €235,341 | €263,078 | +€27,737 | +11.8% |
| Operating profit (loss) | 9901 | €114,655 | €93,757 | -€20,898 | -18.2% |
| Financial income | 75/76B | €20 | €11 | -€8 | -42.4% |
| Recurring financial income | 75 | €20 | €11 | -€8 | -42.4% |
| Financial charges | 65/66B | €10,612 | €10,748 | +€136 | +1.3% |
| Recurring financial charges | 65 | €10,612 | €10,748 | +€136 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €104,063 | €83,020 | -€21,043 | -20.2% |
| Income taxes | 67/77 | - | €1,180 | +€1,180 | |
| Profit (loss) for the period | 9904 | €104,063 | €81,840 | -€22,223 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €104,063 | €81,840 | -€22,223 | -21.4% |
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 9 October 2026 via checked.be.