KADCO: 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.
KADCO
Largest movements
- Receivables within one year +€219,565
up €219,565 (+134.3%), from €163,428 to €382,992
of which Trade receivables: +€159,349
- Cash -€59,617
down €59,617 (-96.8%), from €61,618 to €2,001
mainly Receivables within one year (-€219,565) and Other debts (-€48,626)
- Financial fixed assets +€25,000
up €25,000 (+56.8%), from €44,000 to €69,000
- Trade debts +€142,336
up €142,336 (+76.6%), from €185,832 to €328,168
- Profit (loss) carried forward +€53,932
up €53,932 (+2881.0%), from €1,872 to €55,804
- Other debts -€48,626
down €48,626 (-86.8%), from €56,032 to €7,406
- Tax, wage and social debts +€35,864
up €35,864 (+113.4%), from €31,614 to €67,478
of which Taxes: +€39,262
- Gross operating margin +€116,559
up €116,559 (+80.8%), from €144,227 to €260,786
- Staff costs +€33,151
up €33,151 (+25.1%), from €131,979 to €165,131
- Taxes +€15,618
up €15,618 (+717.2%), from €2,178 to €17,796
- Other operating charges +€12,693
up €12,693 (+213.6%), from €5,943 to €18,636
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 | €280,349 | €463,855 | +€183,505 | +65.5% |
| Fixed assets | 21/28 | €55,304 | €78,798 | +€23,494 | +42.5% |
| Tangible fixed assets | 22/27 | €11,304 | €9,798 | -€1,506 | -13.3% |
| Furniture and vehicles | 24 | €11,304 | €9,798 | -€1,506 | -13.3% |
| Financial fixed assets | 28 | €44,000 | €69,000 | +€25,000 | +56.8% |
| Current assets | 29/58 | €225,046 | €385,057 | +€160,011 | +71.1% |
| Amounts receivable within one year | 40/41 | €163,428 | €382,992 | +€219,565 | +134.3% |
| Trade receivables | 40 | €163,428 | €322,776 | +€159,349 | +97.5% |
| Other amounts receivable | 41 | - | €60,216 | +€60,216 | |
| Cash at bank and in hand | 54/58 | €61,618 | €2,001 | -€59,617 | -96.8% |
| Deferred charges and accrued income | 490/1 | - | €64 | +€64 | |
| Total equity and liabilities | 10/49 | €280,349 | €463,855 | +€183,505 | +65.5% |
| Equity | 10/15 | €6,872 | €60,804 | +€53,932 | +784.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,872 | €55,804 | +€53,932 | +2881.0% |
| Amounts payable | 17/49 | €273,477 | €403,051 | +€129,574 | +47.4% |
| Amounts payable within one year | 42/48 | €273,477 | €403,051 | +€129,574 | +47.4% |
| Trade debts | 44 | €185,832 | €328,168 | +€142,336 | +76.6% |
| Suppliers | 440/4 | €185,832 | €328,168 | +€142,336 | +76.6% |
| Taxes, remuneration and social security | 45 | €31,614 | €67,478 | +€35,864 | +113.4% |
| Taxes | 450/3 | €11,035 | €50,297 | +€39,262 | +355.8% |
| Remuneration and social security | 454/9 | €20,579 | €17,181 | -€3,398 | -16.5% |
| Other amounts payable | 47/48 | €56,032 | €7,406 | -€48,626 | -86.8% |
| Remuneration, social security and pensions | 62 | €131,979 | €165,131 | +€33,151 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,271 | €2,604 | +€1,333 | +104.9% |
| Other operating charges | 640/8 | €5,943 | €18,636 | +€12,693 | +213.6% |
| Gross operating margin | 9900 | €144,227 | €260,786 | +€116,559 | +80.8% |
| Operating profit (loss) | 9901 | €5,034 | €74,415 | +€69,381 | +1378.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €984 | €2,688 | +€1,704 | +173.2% |
| Recurring financial charges | 65 | €984 | €2,688 | +€1,704 | +173.2% |
| Profit (loss) for the period before taxes | 9903 | €4,050 | €71,728 | +€67,678 | +1671.2% |
| Income taxes | 67/77 | €2,178 | €17,796 | +€15,618 | +717.2% |
| Profit (loss) for the period | 9904 | €1,872 | €53,932 | +€52,060 | +2781.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,872 | €53,932 | +€52,060 | +2781.0% |
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 7 October 2026 via checked.be.