KaDé: 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.
KaDé
Largest movements
- Tangible fixed assets -€244,386
down €244,386 (-6.0%), from €4.1m to €3.8m
of which Land and buildings: -€176,435
- Cash +€97,387
up €97,387 (+67.5%), from €144,227 to €241,613
mainly Net result for the year (+€485,152) and Depreciation (+€288,252)
- Reserves +€385,152
up €385,152 (+20.6%), from €1.9m to €2.3m
- Debts after one year -€232,597
down €232,597 (-9.9%), from €2.3m to €2.1m
- Trade debts -€152,693
down €152,693 (-26.6%), from €573,648 to €420,954
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Tax, wage and social debts -€60,787
down €60,787 (-34.2%), from €177,529 to €116,743
of which Taxes: -€36,412
- Other operating charges -€110,189
down €110,189 (-82.9%), from €132,843 to €22,654
- Taxes +€51,236
up €51,236 (+61.3%), from €83,607 to €134,843
- Gross operating margin +€38,811
up €38,811 (+2.1%), from €1.8m to €1.9m
- Depreciation -€34,157
down €34,157 (-10.6%), from €322,409 to €288,252
- Staff costs -€34,011
down €34,011 (-3.8%), from €899,031 to €865,020
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 | €5,536,033 | €5,364,439 | -€171,594 | -3.1% |
| Fixed assets | 21/28 | €4,055,579 | €3,809,692 | -€245,886 | -6.1% |
| Intangible fixed assets | 21 | €2,625 | €1,125 | -€1,500 | -57.1% |
| Tangible fixed assets | 22/27 | €4,052,954 | €3,808,567 | -€244,386 | -6.0% |
| Land and buildings | 22 | €3,794,095 | €3,617,660 | -€176,435 | -4.7% |
| Plant, machinery and equipment | 23 | €240,471 | €155,000 | -€85,471 | -35.5% |
| Furniture and vehicles | 24 | €18,388 | €35,908 | +€17,520 | +95.3% |
| Current assets | 29/58 | €1,480,454 | €1,554,747 | +€74,293 | +5.0% |
| Stocks and contracts in progress | 3 | €429,113 | €412,450 | -€16,663 | -3.9% |
| Stocks | 30/36 | €429,113 | €412,450 | -€16,663 | -3.9% |
| Amounts receivable within one year | 40/41 | €893,184 | €877,693 | -€15,491 | -1.7% |
| Trade receivables | 40 | €708,298 | €858,945 | +€150,648 | +21.3% |
| Other amounts receivable | 41 | €184,887 | €18,748 | -€166,139 | -89.9% |
| Cash at bank and in hand | 54/58 | €144,227 | €241,613 | +€97,387 | +67.5% |
| Deferred charges and accrued income | 490/1 | €13,931 | €22,991 | +€9,060 | +65.0% |
| Total equity and liabilities | 10/49 | €5,536,033 | €5,364,439 | -€171,594 | -3.1% |
| Equity | 10/15 | €1,951,813 | €2,336,965 | +€385,152 | +19.7% |
| Contributions | 10/11 | €81,100 | €81,100 | = | 0.0% |
| Reserves | 13 | €1,870,713 | €2,255,865 | +€385,152 | +20.6% |
| Distributable reserves | 133 | €1,870,713 | €2,255,865 | +€385,152 | +20.6% |
| Amounts payable | 17/49 | €3,584,220 | €3,027,474 | -€556,746 | -15.5% |
| Amounts payable after more than one year | 17 | €2,347,971 | €2,115,374 | -€232,597 | -9.9% |
| Financial debts | 170/4 | €2,347,971 | €2,115,374 | -€232,597 | -9.9% |
| Amounts payable within one year | 42/48 | €1,236,249 | €908,372 | -€327,878 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €278,597 | €268,497 | -€10,100 | -3.6% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €573,648 | €420,954 | -€152,693 | -26.6% |
| Suppliers | 440/4 | €573,648 | €420,954 | -€152,693 | -26.6% |
| Taxes, remuneration and social security | 45 | €177,529 | €116,743 | -€60,787 | -34.2% |
| Taxes | 450/3 | €56,066 | €19,655 | -€36,412 | -64.9% |
| Remuneration and social security | 454/9 | €121,463 | €97,088 | -€24,375 | -20.1% |
| Other amounts payable | 47/48 | €106,475 | €102,178 | -€4,297 | -4.0% |
| Accrued charges and deferred income | 492/3 | - | €3,729 | +€3,729 | |
| Non-recurring operating income | 76A | €23,442 | €26,537 | +€3,096 | +13.2% |
| Remuneration, social security and pensions | 62 | €899,031 | €865,020 | -€34,011 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €322,409 | €288,252 | -€34,157 | -10.6% |
| Other operating charges | 640/8 | €132,843 | €22,654 | -€110,189 | -82.9% |
| Non-recurring operating charges | 66A | €558 | - | -€558 | |
| Gross operating margin | 9900 | €1,842,490 | €1,881,302 | +€38,811 | +2.1% |
| Operating profit (loss) | 9901 | €487,649 | €705,376 | +€217,727 | +44.6% |
| Financial income | 75/76B | €11,576 | €12,105 | +€529 | +4.6% |
| Recurring financial income | 75 | €11,576 | €12,105 | +€529 | +4.6% |
| Financial charges | 65/66B | €97,999 | €97,486 | -€513 | -0.5% |
| Recurring financial charges | 65 | €97,999 | €97,486 | -€513 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €401,226 | €619,995 | +€218,769 | +54.5% |
| Income taxes | 67/77 | €83,607 | €134,843 | +€51,236 | +61.3% |
| Profit (loss) for the period | 9904 | €317,619 | €485,152 | +€167,533 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €317,619 | €485,152 | +€167,533 | +52.7% |
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.