KAVACO: 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.
KAVACO
Largest movements
- Receivables within one year +€11,950
up €11,950 (+329%), from €3,630 to €15,580
of which Trade receivables: +€11,950
- Tangible fixed assets -€9,673
down €9,673 (-4.4%), from €218,661 to €208,988
- Reserves +€8,000
up €8,000 (+32.3%), from €24,772 to €32,772
of which Distributable reserves: +€8,000
- Other debts -€5,169
down €5,169 (-29.3%), from €17,650 to €12,481
- Gross operating margin +€6,117
up €6,117 (+18.6%), from €32,936 to €39,052
- Taxes +€1,804
up €1,804 (+53.9%), from €3,349 to €5,154
- Financial charges -€1,560
down €1,560 (-12.4%), from €12,558 to €10,998
- Other operating charges +€544
up €544 (+11.7%), from €4,650 to €5,194
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,505 | €226,835 | +€2,330 | +1.0% |
| Fixed assets | 21/28 | €218,661 | €208,988 | -€9,673 | -4.4% |
| Tangible fixed assets | 22/27 | €218,661 | €208,988 | -€9,673 | -4.4% |
| Land and buildings | 22 | €218,661 | €208,988 | -€9,673 | -4.4% |
| Current assets | 29/58 | €5,844 | €17,847 | +€12,003 | +205% |
| Amounts receivable within one year | 40/41 | €3,630 | €15,580 | +€11,950 | +329% |
| Trade receivables | 40 | €3,630 | €15,580 | +€11,950 | +329% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,914 | €2,267 | +€353 | +18.5% |
| Deferred charges and accrued income | 490/1 | €300 | €0 | -€300 | -100% |
| Total equity and liabilities | 10/49 | €224,505 | €226,835 | +€2,330 | +1.0% |
| Equity | 10/15 | €43,580 | €51,614 | +€8,034 | +18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,772 | €32,772 | +€8,000 | +32.3% |
| Tax-exempt reserves | 132 | €3,822 | €3,822 | = | 0.0% |
| Distributable reserves | 133 | €20,950 | €28,950 | +€8,000 | +38.2% |
| Profit (loss) carried forward | 14 | €208 | €242 | +€34 | +16.3% |
| Amounts payable | 17/49 | €180,924 | €175,221 | -€5,703 | -3.2% |
| Amounts payable after more than one year | 17 | €160,000 | €160,000 | = | 0.0% |
| Financial debts | 170/4 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,924 | €15,221 | -€5,703 | -27.3% |
| Trade debts | 44 | €1,921 | €280 | -€1,641 | -85.4% |
| Suppliers | 440/4 | €1,921 | €280 | -€1,641 | -85.4% |
| Taxes, remuneration and social security | 45 | €1,353 | €2,459 | +€1,106 | +81.8% |
| Taxes | 450/3 | €1,353 | €2,459 | +€1,106 | +81.8% |
| Other amounts payable | 47/48 | €17,650 | €12,481 | -€5,169 | -29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,673 | €9,673 | = | 0.0% |
| Other operating charges | 640/8 | €4,650 | €5,194 | +€544 | +11.7% |
| Gross operating margin | 9900 | €32,936 | €39,052 | +€6,117 | +18.6% |
| Operating profit (loss) | 9901 | €18,613 | €24,186 | +€5,573 | +29.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €12,558 | €10,998 | -€1,560 | -12.4% |
| Recurring financial charges | 65 | €12,558 | €10,998 | -€1,560 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €6,055 | €13,188 | +€7,133 | +118% |
| Income taxes | 67/77 | €3,349 | €5,154 | +€1,804 | +53.9% |
| Profit (loss) for the period | 9904 | €2,705 | €8,034 | +€5,329 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €2,705 | €8,034 | +€5,329 | +197% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.