KaD: 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.
KaD
Largest movements
- Cash -€16,316
down €16,316 (-27.5%), from €59,268 to €42,952
mainly Trade debts (-€15,235) and Contributions, distributions and other (-€15,000)
- Deferred charges and accrued income -€2,225
down €2,225 (-86.3%), from €2,577 to €352
- Tangible fixed assets +€1,952
up €1,952 (+15.1%), from €12,965 to €14,918
of which Furniture and vehicles: +€3,698
- Trade debts -€15,235
down €15,235 (-98.7%), from €15,438 to €204
- Reserves +€15,000
up €15,000 (+33.3%), from €45,000 to €60,000
- Other debts -€13,233
down €13,233 (-33.0%), from €40,156 to €26,922
- Current portion of long-term debt -€12,000
no longer reported in 2025 (was €12,000)
- Tax, wage and social debts +€10,399
up €10,399 (+109.7%), from €9,476 to €19,875
of which Taxes: +€9,280
- Gross operating margin -€41,189
down €41,189 (-21.8%), from €189,369 to €148,180
- Staff costs -€22,906
down €22,906 (-20.1%), from €114,176 to €91,270
- Financial charges -€3,625
down €3,625 (-77.8%), from €4,660 to €1,035
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 | €134,933 | €119,168 | -€15,765 | -11.7% |
| Fixed assets | 21/28 | €13,965 | €15,918 | +€1,952 | +14.0% |
| Tangible fixed assets | 22/27 | €12,965 | €14,918 | +€1,952 | +15.1% |
| Furniture and vehicles | 24 | €4,856 | €8,554 | +€3,698 | +76.1% |
| Other tangible fixed assets | 26 | €8,109 | €6,364 | -€1,745 | -21.5% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €120,967 | €103,250 | -€17,718 | -14.6% |
| Amounts receivable within one year | 40/41 | €59,122 | €59,946 | +€824 | +1.4% |
| Trade receivables | 40 | €47,206 | €43,489 | -€3,717 | -7.9% |
| Other amounts receivable | 41 | €11,916 | €16,457 | +€4,541 | +38.1% |
| Cash at bank and in hand | 54/58 | €59,268 | €42,952 | -€16,316 | -27.5% |
| Deferred charges and accrued income | 490/1 | €2,577 | €352 | -€2,225 | -86.3% |
| Total equity and liabilities | 10/49 | €134,933 | €119,168 | -€15,765 | -11.7% |
| Equity | 10/15 | €57,863 | €72,166 | +€14,303 | +24.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €45,000 | €60,000 | +€15,000 | +33.3% |
| Distributable reserves | 133 | €45,000 | €60,000 | +€15,000 | +33.3% |
| Profit (loss) carried forward | 14 | €10,363 | €9,666 | -€697 | -6.7% |
| Amounts payable | 17/49 | €77,070 | €47,001 | -€30,068 | -39.0% |
| Amounts payable within one year | 42/48 | €77,070 | €47,001 | -€30,068 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | - | -€12,000 | |
| Trade debts | 44 | €15,438 | €204 | -€15,235 | -98.7% |
| Suppliers | 440/4 | €15,438 | €204 | -€15,235 | -98.7% |
| Taxes, remuneration and social security | 45 | €9,476 | €19,875 | +€10,399 | +109.7% |
| Taxes | 450/3 | €1,270 | €10,550 | +€9,280 | +730.5% |
| Remuneration and social security | 454/9 | €8,206 | €9,325 | +€1,120 | +13.6% |
| Other amounts payable | 47/48 | €40,156 | €26,922 | -€13,233 | -33.0% |
| Remuneration, social security and pensions | 62 | €114,176 | €91,270 | -€22,906 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,890 | €5,659 | +€1,770 | +45.5% |
| Other operating charges | 640/8 | €4,042 | €3,187 | -€855 | -21.2% |
| Gross operating margin | 9900 | €189,369 | €148,180 | -€41,189 | -21.8% |
| Operating profit (loss) | 9901 | €67,262 | €48,064 | -€19,197 | -28.5% |
| Financial charges | 65/66B | €4,660 | €1,035 | -€3,625 | -77.8% |
| Recurring financial charges | 65 | €4,660 | €1,035 | -€3,625 | -77.8% |
| Profit (loss) for the period before taxes | 9903 | €62,602 | €47,029 | -€15,573 | -24.9% |
| Income taxes | 67/77 | €17,204 | €17,726 | +€522 | +3.0% |
| Profit (loss) for the period | 9904 | €45,398 | €29,303 | -€16,095 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,398 | €29,303 | -€16,095 | -35.5% |
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.