Kuwa: 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.
Kuwa
Largest movements
- Tangible fixed assets +€10,392
new in 2025: €10,392
- Receivables within one year +€4,886
up €4,886 (+35.8%), from €13,662 to €18,549
of which Trade receivables: +€7,255
- Cash +€4,541
up €4,541 (+40.7%), from €11,152 to €15,693
mainly Net result for the year (+€11,589) and Debts after one year (+€6,480)
- Reserves +€11,589
up €11,589 (+183%), from €6,324 to €17,912
- Debts after one year +€6,480
new in 2025: €6,480
- Current portion of long-term debt +€3,368
new in 2025: €3,368
- Other debts -€1,497
down €1,497 (-39.4%), from €3,800 to €2,303
- Tax, wage and social debts -€526
down €526 (-7.3%), from €7,192 to €6,667
- Gross operating margin +€3,117
up €3,117 (+14.3%), from €21,845 to €24,962
- Financial charges -€1,741
down €1,741 (-42.8%), from €4,067 to €2,326
- Other operating charges -€1,011
down €1,011 (-40.8%), from €2,476 to €1,465
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 | €25,237 | €44,711 | +€19,474 | +77.2% |
| Fixed assets | 21/28 | - | €10,392 | +€10,392 | |
| Tangible fixed assets | 22/27 | - | €10,392 | +€10,392 | |
| Furniture and vehicles | 24 | - | €10,392 | +€10,392 | |
| Current assets | 29/58 | €25,237 | €34,320 | +€9,083 | +36.0% |
| Amounts receivable within one year | 40/41 | €13,662 | €18,549 | +€4,886 | +35.8% |
| Trade receivables | 40 | €11,221 | €18,476 | +€7,255 | +64.7% |
| Other amounts receivable | 41 | €2,441 | €73 | -€2,369 | -97.0% |
| Cash at bank and in hand | 54/58 | €11,152 | €15,693 | +€4,541 | +40.7% |
| Deferred charges and accrued income | 490/1 | €422 | €78 | -€345 | -81.6% |
| Total equity and liabilities | 10/49 | €25,237 | €44,711 | +€19,474 | +77.2% |
| Equity | 10/15 | €8,324 | €19,912 | +€11,589 | +139% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €6,324 | €17,912 | +€11,589 | +183% |
| Distributable reserves | 133 | €6,324 | €17,912 | +€11,589 | +183% |
| Amounts payable | 17/49 | €16,913 | €24,799 | +€7,886 | +46.6% |
| Amounts payable after more than one year | 17 | - | €6,480 | +€6,480 | |
| Financial debts | 170/4 | - | €6,480 | +€6,480 | |
| Amounts payable within one year | 42/48 | €15,563 | €16,741 | +€1,178 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | - | €3,368 | +€3,368 | |
| Trade debts | 44 | €4,571 | €4,404 | -€167 | -3.7% |
| Suppliers | 440/4 | €4,571 | €4,404 | -€167 | -3.7% |
| Taxes, remuneration and social security | 45 | €7,192 | €6,667 | -€526 | -7.3% |
| Taxes | 450/3 | €7,192 | €6,667 | -€526 | -7.3% |
| Other amounts payable | 47/48 | €3,800 | €2,303 | -€1,497 | -39.4% |
| Accrued charges and deferred income | 492/3 | €1,350 | €1,577 | +€227 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,250 | €1,098 | -€152 | -12.1% |
| Other operating charges | 640/8 | €2,476 | €1,465 | -€1,011 | -40.8% |
| Non-recurring operating charges | 66A | - | €4,410 | +€4,410 | |
| Gross operating margin | 9900 | €21,845 | €24,962 | +€3,117 | +14.3% |
| Operating profit (loss) | 9901 | €18,119 | €17,988 | -€131 | -0.7% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €4,067 | €2,326 | -€1,741 | -42.8% |
| Recurring financial charges | 65 | €4,067 | €2,326 | -€1,741 | -42.8% |
| Profit (loss) for the period before taxes | 9903 | €14,051 | €15,663 | +€1,612 | +11.5% |
| Income taxes | 67/77 | €3,927 | €4,074 | +€147 | +3.7% |
| Profit (loss) for the period | 9904 | €10,124 | €11,589 | +€1,465 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,124 | €11,589 | +€1,465 | +14.5% |
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 20 October 2026 via checked.be.