Kwivan: 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.
Kwivan
Largest movements
- Tangible fixed assets -€11,793
down €11,793 (-17.3%), from €68,217 to €56,423
of which Plant, machinery and equipment: -€13,720
- Cash -€3,441
down €3,441 (-90.5%), from €3,800 to €359
mainly Debts after one year (-€18,625) and Trade debts (-€11,160)
- Receivables within one year +€1,305
up €1,305 (+4.7%), from €27,549 to €28,854
of which Trade receivables: +€951
- Debts after one year -€18,625
down €18,625 (-59.0%), from €31,569 to €12,943
- Reserves +€12,495
up €12,495 (+25.5%), from €48,935 to €61,431
- Trade debts -€11,160
down €11,160 (-94.0%), from €11,866 to €707
- Tax, wage and social debts +€7,432
up €7,432 (+80.9%), from €9,187 to €16,619
of which Remuneration and social security: +€4,224
- Other debts -€3,434
down €3,434 (-66.4%), from €5,173 to €1,740
- Gross operating margin -€10,999
down €10,999 (-24.2%), from €45,414 to €34,415
- Depreciation +€7,295
up €7,295 (+82.7%), from €8,821 to €16,116
- Taxes -€3,579
down €3,579 (-51.3%), from €6,972 to €3,393
- Financial income +€1,183
up €1,183, from €0 to €1,183
- Other operating charges +€947
up €947 (+397.0%), from €239 to €1,185
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 | €129,989 | €117,235 | -€12,754 | -9.8% |
| Fixed assets | 21/28 | €68,217 | €56,423 | -€11,793 | -17.3% |
| Tangible fixed assets | 22/27 | €68,217 | €56,423 | -€11,793 | -17.3% |
| Land and buildings | 22 | - | €4,210 | +€4,210 | |
| Plant, machinery and equipment | 23 | €57,840 | €44,120 | -€13,720 | -23.7% |
| Furniture and vehicles | 24 | €10,377 | €8,094 | -€2,283 | -22.0% |
| Current assets | 29/58 | €61,772 | €60,812 | -€960 | -1.6% |
| Amounts receivable within one year | 40/41 | €27,549 | €28,854 | +€1,305 | +4.7% |
| Trade receivables | 40 | €27,284 | €28,236 | +€951 | +3.5% |
| Other amounts receivable | 41 | €264 | €619 | +€354 | +134.0% |
| Current investments | 50/53 | €29,889 | €29,889 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,800 | €359 | -€3,441 | -90.5% |
| Deferred charges and accrued income | 490/1 | €535 | €1,709 | +€1,175 | +219.7% |
| Total equity and liabilities | 10/49 | €129,989 | €117,235 | -€12,754 | -9.8% |
| Equity | 10/15 | €53,935 | €66,431 | +€12,495 | +23.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €48,935 | €61,431 | +€12,495 | +25.5% |
| Distributable reserves | 133 | €48,935 | €61,431 | +€12,495 | +25.5% |
| Amounts payable | 17/49 | €76,054 | €50,805 | -€25,249 | -33.2% |
| Amounts payable after more than one year | 17 | €31,569 | €12,943 | -€18,625 | -59.0% |
| Financial debts | 170/4 | €31,569 | €12,943 | -€18,625 | -59.0% |
| Amounts payable within one year | 42/48 | €43,945 | €37,690 | -€6,255 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €17,719 | €18,625 | +€907 | +5.1% |
| Trade debts | 44 | €11,866 | €707 | -€11,160 | -94.0% |
| Suppliers | 440/4 | €11,866 | €707 | -€11,160 | -94.0% |
| Taxes, remuneration and social security | 45 | €9,187 | €16,619 | +€7,432 | +80.9% |
| Taxes | 450/3 | €9,187 | €12,395 | +€3,208 | +34.9% |
| Remuneration and social security | 454/9 | €0 | €4,224 | +€4,224 | |
| Other amounts payable | 47/48 | €5,173 | €1,740 | -€3,434 | -66.4% |
| Accrued charges and deferred income | 492/3 | €540 | €171 | -€369 | -68.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,821 | €16,116 | +€7,295 | +82.7% |
| Other operating charges | 640/8 | €239 | €1,185 | +€947 | +397.0% |
| Gross operating margin | 9900 | €45,414 | €34,415 | -€10,999 | -24.2% |
| Operating profit (loss) | 9901 | €36,355 | €17,114 | -€19,241 | -52.9% |
| Financial income | 75/76B | €0 | €1,183 | +€1,183 | |
| Recurring financial income | 75 | €0 | €1,183 | +€1,183 | |
| Financial charges | 65/66B | €1,765 | €2,409 | +€644 | +36.5% |
| Recurring financial charges | 65 | €1,765 | €2,409 | +€644 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €34,589 | €15,888 | -€18,702 | -54.1% |
| Income taxes | 67/77 | €6,972 | €3,393 | -€3,579 | -51.3% |
| Profit (loss) for the period | 9904 | €27,618 | €12,495 | -€15,122 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,618 | €12,495 | -€15,122 | -54.8% |
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 5 October 2026 via checked.be.