KADANZ & PARTNERS: what changed
What changed
KADANZ & PARTNERS
NACE 77.222, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
€72,775
2024 · €51,747+€21,028
Equity
€222,897
2024 · €150,122+€72,775
Cash
€184,008
2024 · €273,665-€89,657
Balance sheet total
€279,351
2024 · €367,207-€87,856
Largest movements
Assets
- Cash -€89,657
down €89,657 (-32.8%), from €273,665 to €184,008
mainly Other debts (-€139,029) and Debts after one year (-€23,384)
- Receivables within one year +€21,047
up €21,047 (+277%), from €7,600 to €28,647
of which Trade receivables: +€17,419
- Tangible fixed assets -€19,335
down €19,335 (-22.5%), from €85,942 to €66,607
of which Land and buildings: -€10,253
Equity and liabilities
- Other debts -€139,029
down €139,029 (-99.6%), from €139,613 to €584
- Reserves +€72,775
up €72,775 (+55.3%), from €131,522 to €204,297
- Debts after one year -€23,384
down €23,384 (-48.0%), from €48,737 to €25,353
Income statement
- Gross operating margin +€36,070
up €36,070 (+38.5%), from €93,759 to €129,829
- Taxes +€28,633
up €28,633 (+1,059%), from €2,704 to €31,336
- Financial charges -€8,242
down €8,242 (-72.6%), from €11,355 to €3,113
- Depreciation -€6,089
down €6,089 (-23.7%), from €25,655 to €19,565
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€51,747
Gross operating margin
+€36,070
Depreciation
+€6,089
Other operating charges
-€178
Financial income
-€563
Financial charges
+€8,242
Taxes
-€28,633
Result 2025
€72,775
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€67,098
Investment
-€231
Financing
-€22,329
Cash 2024
€273,665
From operations (derived)
-€67,098
Net result for the year
+€72,775
Depreciation
+€19,565
Receivables within one year
-€21,047
Smaller working-capital items
+€68
Tax, wage and social debts
+€570
Other debts
-€139,029
Investment (derived)
-€231
Investment in fixed assets (net)
-€231
Financing
-€22,329
Debts after one year
-€23,384
Current portion of long-term debt
+€972
Short-term financial debts
+€84
Cash 2025
€184,008
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €367,207 | €279,351 | -€87,856 | -23.9% |
| Fixed assets | 21/28 | €85,942 | €66,607 | -€19,335 | -22.5% |
| Tangible fixed assets | 22/27 | €85,942 | €66,607 | -€19,335 | -22.5% |
| Land and buildings | 22 | €63,696 | €53,443 | -€10,253 | -16.1% |
| Plant, machinery and equipment | 23 | €5,062 | €2,655 | -€2,406 | -47.5% |
| Furniture and vehicles | 24 | €1,014 | €699 | -€315 | -31.1% |
| Leasing and similar rights | 25 | €16,171 | €9,811 | -€6,360 | -39.3% |
| Current assets | 29/58 | €281,265 | €212,744 | -€68,521 | -24.4% |
| Amounts receivable within one year | 40/41 | €7,600 | €28,647 | +€21,047 | +277% |
| Trade receivables | 40 | €5,548 | €22,968 | +€17,419 | +314% |
| Other amounts receivable | 41 | €2,052 | €5,680 | +€3,628 | +177% |
| Cash at bank and in hand | 54/58 | €273,665 | €184,008 | -€89,657 | -32.8% |
| Deferred charges and accrued income | 490/1 | €0 | €89 | +€89 | |
| Total equity and liabilities | 10/49 | €367,207 | €279,351 | -€87,856 | -23.9% |
| Equity | 10/15 | €150,122 | €222,897 | +€72,775 | +48.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,522 | €204,297 | +€72,775 | +55.3% |
| Distributable reserves | 133 | €131,522 | €204,297 | +€72,775 | +55.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €217,085 | €56,454 | -€160,631 | -74.0% |
| Amounts payable after more than one year | 17 | €48,737 | €25,353 | -€23,384 | -48.0% |
| Financial debts | 170/4 | €48,737 | €25,353 | -€23,384 | -48.0% |
| Amounts payable within one year | 42/48 | €168,348 | €31,101 | -€137,247 | -81.5% |
| Current portion of amounts payable after more than one year | 42 | €22,392 | €23,364 | +€972 | +4.3% |
| Financial debts | 43 | €18 | €102 | +€84 | +465% |
| Credit institutions | 430/8 | €18 | €102 | +€84 | +465% |
| Trade debts | 44 | €1,491 | €1,648 | +€157 | +10.5% |
| Suppliers | 440/4 | €1,491 | €1,648 | +€157 | +10.5% |
| Taxes, remuneration and social security | 45 | €4,834 | €5,404 | +€570 | +11.8% |
| Taxes | 450/3 | €4,834 | €5,404 | +€570 | +11.8% |
| Other amounts payable | 47/48 | €139,613 | €584 | -€139,029 | -99.6% |
| Non-recurring operating income | 76A | €2,685 | €143,072 | +€140,387 | +5,229% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,655 | €19,565 | -€6,089 | -23.7% |
| Other operating charges | 640/8 | €2,906 | €3,084 | +€178 | +6.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €93,759 | €129,829 | +€36,070 | +38.5% |
| Operating profit (loss) | 9901 | €65,198 | €107,179 | +€41,981 | +64.4% |
| Financial income | 75/76B | €608 | €45 | -€563 | -92.6% |
| Recurring financial income | 75 | €608 | €45 | -€563 | -92.6% |
| Financial charges | 65/66B | €11,355 | €3,113 | -€8,242 | -72.6% |
| Recurring financial charges | 65 | €11,355 | €3,113 | -€8,242 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | €54,451 | €104,112 | +€49,661 | +91.2% |
| Income taxes | 67/77 | €2,704 | €31,336 | +€28,633 | +1,059% |
| Profit (loss) for the period | 9904 | €51,747 | €72,775 | +€21,028 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,747 | €72,775 | +€21,028 | +40.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.