KADAMA: 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.
KADAMA
Largest movements
- Cash +€254,532
up €254,532 (+980.3%), from €25,964 to €280,496
mainly Net result for the year (+€311,178) and Receivables within one year (+€78,312)
- Receivables within one year -€78,312
down €78,312 (-88.4%), from €88,603 to €10,291
of which Other amounts receivable: -€77,907
- Tangible fixed assets +€20,902
up €20,902 (+4.8%), from €433,938 to €454,839
of which Furniture and vehicles: +€35,892
- Reserves +€209,652
up €209,652 (+116.8%), from €179,470 to €389,122
- Tax, wage and social debts +€71,882
up €71,882 (+234.9%), from €30,607 to €102,489
- Other debts -€69,407
down €69,407 (-100.0%), from €69,407 to €0
- Debts after one year -€11,113
down €11,113 (-4.6%), from €240,540 to €229,426
- Current portion of long-term debt -€8,497
down €8,497 (-26.5%), from €32,020 to €23,523
- Gross operating margin +€397,565
up €397,565 (+318.8%), from €124,720 to €522,285
- Taxes +€133,562
up €133,562 (+705.0%), from €18,946 to €152,508
- Write-downs -€19,500
down €19,500 (-100.0%), from €19,500 to €0
- Depreciation -€17,721
down €17,721 (-46.5%), from €38,133 to €20,411
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 | €553,875 | €748,398 | +€194,523 | +35.1% |
| Fixed assets | 21/28 | €436,945 | €454,839 | +€17,895 | +4.1% |
| Tangible fixed assets | 22/27 | €433,938 | €454,839 | +€20,902 | +4.8% |
| Land and buildings | 22 | €359,804 | €346,122 | -€13,682 | -3.8% |
| Plant, machinery and equipment | 23 | €5,393 | €4,084 | -€1,308 | -24.3% |
| Furniture and vehicles | 24 | €68,742 | €104,633 | +€35,892 | +52.2% |
| Financial fixed assets | 28 | €3,007 | €0 | -€3,007 | -100.0% |
| Current assets | 29/58 | €116,931 | €293,559 | +€176,628 | +151.1% |
| Amounts receivable within one year | 40/41 | €88,603 | €10,291 | -€78,312 | -88.4% |
| Trade receivables | 40 | €4,426 | €4,022 | -€405 | -9.1% |
| Other amounts receivable | 41 | €84,177 | €6,269 | -€77,907 | -92.6% |
| Cash at bank and in hand | 54/58 | €25,964 | €280,496 | +€254,532 | +980.3% |
| Deferred charges and accrued income | 490/1 | €2,364 | €2,771 | +€408 | +17.3% |
| Total equity and liabilities | 10/49 | €553,875 | €748,398 | +€194,523 | +35.1% |
| Equity | 10/15 | €180,470 | €390,122 | +€209,652 | +116.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €179,470 | €389,122 | +€209,652 | +116.8% |
| Distributable reserves | 133 | €179,470 | €389,122 | +€209,652 | +116.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €373,406 | €358,276 | -€15,129 | -4.1% |
| Amounts payable after more than one year | 17 | €240,540 | €229,426 | -€11,113 | -4.6% |
| Financial debts | 170/4 | €240,540 | €229,426 | -€11,113 | -4.6% |
| Amounts payable within one year | 42/48 | €132,778 | €128,761 | -€4,018 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €32,020 | €23,523 | -€8,497 | -26.5% |
| Financial debts | 43 | €744 | €280 | -€464 | -62.4% |
| Credit institutions | 430/8 | €744 | €280 | -€464 | -62.4% |
| Trade debts | 44 | €0 | €2,468 | +€2,468 | |
| Suppliers | 440/4 | €0 | €2,468 | +€2,468 | |
| Taxes, remuneration and social security | 45 | €30,607 | €102,489 | +€71,882 | +234.9% |
| Taxes | 450/3 | €30,607 | €102,489 | +€71,882 | +234.9% |
| Other amounts payable | 47/48 | €69,407 | €0 | -€69,407 | -100.0% |
| Accrued charges and deferred income | 492/3 | €88 | €89 | +€2 | +1.9% |
| Non-recurring operating income | 76A | €0 | €23,490 | +€23,490 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,133 | €20,411 | -€17,721 | -46.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,500 | €0 | -€19,500 | -100.0% |
| Other operating charges | 640/8 | €5,216 | €5,757 | +€541 | +10.4% |
| Non-recurring operating charges | 66A | - | €24,251 | +€24,251 | |
| Gross operating margin | 9900 | €124,720 | €522,285 | +€397,565 | +318.8% |
| Operating profit (loss) | 9901 | €61,871 | €471,866 | +€409,995 | +662.7% |
| Financial income | 75/76B | €3,016 | €2,245 | -€772 | -25.6% |
| Recurring financial income | 75 | €3,016 | €2,245 | -€772 | -25.6% |
| Financial charges | 65/66B | €14,192 | €10,424 | -€3,768 | -26.6% |
| Recurring financial charges | 65 | €14,192 | €10,424 | -€3,768 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €50,695 | €463,687 | +€412,992 | +814.7% |
| Income taxes | 67/77 | €18,946 | €152,508 | +€133,562 | +705.0% |
| Profit (loss) for the period | 9904 | €31,749 | €311,178 | +€279,430 | +880.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,749 | €311,178 | +€279,430 | +880.1% |
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 3 October 2026 via checked.be.