KUVALA: 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.
KUVALA
Largest movements
- Tangible fixed assets -€13,488
down €13,488 (-5.8%), from €230,839 to €217,351
of which Land and buildings: -€11,943
- Cash -€6,042
down €6,042 (-23.8%), from €25,364 to €19,322
mainly Debts after one year (-€12,874) and Net result for the year (-€6,309)
- Debts after one year -€12,874
down €12,874 (-4.9%), from €264,497 to €251,624
- Profit (loss) carried forward -€6,309
down €6,309 (-15.0%), from -€42,043 to -€48,352
- Tax, wage and social debts +€3,755
up €3,755 (+65.2%), from €5,761 to €9,516
of which Remuneration and social security: +€3,215
- Gross operating margin -€1,719
down €1,719 (-4.3%), from €40,176 to €38,457
- Staff costs +€728
up €728 (+2.9%), from €25,109 to €25,837
- Financial income +€514
up €514 (+411.4%), from €125 to €639
of which Non-recurring financial income: +€366
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 | €278,982 | €261,633 | -€17,349 | -6.2% |
| Fixed assets | 21/28 | €230,839 | €217,351 | -€13,488 | -5.8% |
| Tangible fixed assets | 22/27 | €230,839 | €217,351 | -€13,488 | -5.8% |
| Land and buildings | 22 | €225,454 | €213,511 | -€11,943 | -5.3% |
| Plant, machinery and equipment | 23 | €2,301 | €1,722 | -€578 | -25.1% |
| Furniture and vehicles | 24 | €3,085 | €2,118 | -€967 | -31.3% |
| Current assets | 29/58 | €48,143 | €44,282 | -€3,860 | -8.0% |
| Amounts receivable within one year | 40/41 | €22,778 | €24,960 | +€2,182 | +9.6% |
| Trade receivables | 40 | €22,778 | €24,960 | +€2,182 | +9.6% |
| Cash at bank and in hand | 54/58 | €25,364 | €19,322 | -€6,042 | -23.8% |
| Total equity and liabilities | 10/49 | €278,982 | €261,633 | -€17,349 | -6.2% |
| Equity | 10/15 | -€18,043 | -€24,352 | -€6,309 | -35.0% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,043 | -€48,352 | -€6,309 | -15.0% |
| Amounts payable | 17/49 | €297,025 | €285,985 | -€11,040 | -3.7% |
| Amounts payable after more than one year | 17 | €264,497 | €251,624 | -€12,874 | -4.9% |
| Financial debts | 170/4 | €264,497 | €251,624 | -€12,874 | -4.9% |
| Amounts payable within one year | 42/48 | €32,528 | €34,361 | +€1,833 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €11,823 | €12,874 | +€1,050 | +8.9% |
| Trade debts | 44 | €11,740 | €9,299 | -€2,441 | -20.8% |
| Suppliers | 440/4 | €11,740 | €9,299 | -€2,441 | -20.8% |
| Taxes, remuneration and social security | 45 | €5,761 | €9,516 | +€3,755 | +65.2% |
| Taxes | 450/3 | €4,705 | €5,245 | +€540 | +11.5% |
| Remuneration and social security | 454/9 | €1,056 | €4,271 | +€3,215 | +304.5% |
| Other amounts payable | 47/48 | €3,204 | €2,673 | -€531 | -16.6% |
| Non-recurring operating income | 76A | - | €22 | +€22 | |
| Remuneration, social security and pensions | 62 | €25,109 | €25,837 | +€728 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,393 | €13,510 | +€117 | +0.9% |
| Other operating charges | 640/8 | €1,763 | €1,840 | +€77 | +4.4% |
| Gross operating margin | 9900 | €40,176 | €38,457 | -€1,719 | -4.3% |
| Operating profit (loss) | 9901 | -€89 | -€2,730 | -€2,641 | -2957.4% |
| Financial income | 75/76B | €125 | €639 | +€514 | +411.4% |
| Recurring financial income | 75 | €125 | €273 | +€148 | +118.6% |
| Non-recurring financial income | 76B | - | €366 | +€366 | |
| Financial charges | 65/66B | €3,301 | €3,610 | +€309 | +9.4% |
| Recurring financial charges | 65 | €3,301 | €3,610 | +€309 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,266 | -€5,701 | -€2,435 | -74.6% |
| Income taxes | 67/77 | €974 | €608 | -€366 | -37.6% |
| Profit (loss) for the period | 9904 | -€4,240 | -€6,309 | -€2,069 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,240 | -€6,309 | -€2,069 | -48.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.