KADE: what changed
Two financial 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.
KADE
Largest movements
- Tangible fixed assets -€2,199
down €2,199 (-27.2%), from €8,091 to €5,893
of which Furniture and vehicles: -€1,385
- Deferred charges and accrued income +€1,824
up €1,824 (+269.5%), from €677 to €2,500
- Cash -€1,547
down €1,547 (-47.1%), from €3,282 to €1,735
mainly Net result for the year (-€37,036) and Investment in fixed assets (net) (-€2,669)
- Stocks and contracts -€521
down €521 (-8.4%), from €6,181 to €5,660
- Profit (loss) carried forward -€37,036
down €37,036 (-18.6%), from -€198,694 to -€235,730
- Other debts +€16,746
up €16,746 (+17.2%), from €97,625 to €114,370
- Trade debts +€16,240
up €16,240 (+22.2%), from €73,068 to €89,308
- Short-term financial debts +€1,369
up €1,369 (+14.2%), from €9,621 to €10,990
- Tax, wage and social debts +€339
up €339 (+2.7%), from €12,461 to €12,799
of which Taxes: +€1,847
- Gross operating margin +€3,635
up €3,635 (+5.6%), from €64,592 to €68,227
- Staff costs +€1,431
up €1,431 (+1.5%), from €92,598 to €94,029
- Taxes +€715
up €715 (+2747.5%), from €26 to €741
- Depreciation -€711
down €711 (-12.7%), from €5,578 to €4,867
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 | €30,912 | €28,571 | -€2,341 | -7.6% |
| Fixed assets | 21/28 | €9,652 | €7,453 | -€2,199 | -22.8% |
| Tangible fixed assets | 22/27 | €8,091 | €5,893 | -€2,199 | -27.2% |
| Plant, machinery and equipment | 23 | €2,445 | €1,631 | -€813 | -33.3% |
| Furniture and vehicles | 24 | €5,646 | €4,261 | -€1,385 | -24.5% |
| Financial fixed assets | 28 | €1,561 | €1,561 | = | 0.0% |
| Current assets | 29/58 | €21,260 | €21,117 | -€143 | -0.7% |
| Stocks and contracts in progress | 3 | €6,181 | €5,660 | -€521 | -8.4% |
| Stocks | 30/36 | €6,181 | €5,660 | -€521 | -8.4% |
| Amounts receivable within one year | 40/41 | - | €99 | +€99 | |
| Trade receivables | 40 | - | €99 | +€99 | |
| Current investments | 50/53 | €11,121 | €11,123 | +€2 | 0.0% |
| Cash at bank and in hand | 54/58 | €3,282 | €1,735 | -€1,547 | -47.1% |
| Deferred charges and accrued income | 490/1 | €677 | €2,500 | +€1,824 | +269.5% |
| Total equity and liabilities | 10/49 | €30,912 | €28,571 | -€2,341 | -7.6% |
| Equity | 10/15 | -€161,862 | -€198,898 | -€37,036 | -22.9% |
| Contributions | 10/11 | €15,400 | €15,400 | = | 0.0% |
| Reserves | 13 | €21,432 | €21,432 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,970 | €8,970 | = | 0.0% |
| Distributable reserves | 133 | €10,602 | €10,602 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,694 | -€235,730 | -€37,036 | -18.6% |
| Amounts payable | 17/49 | €192,774 | €227,468 | +€34,694 | +18.0% |
| Amounts payable within one year | 42/48 | €192,774 | €227,468 | +€34,694 | +18.0% |
| Financial debts | 43 | €9,621 | €10,990 | +€1,369 | +14.2% |
| Credit institutions | 430/8 | €9,621 | €10,990 | +€1,369 | +14.2% |
| Trade debts | 44 | €73,068 | €89,308 | +€16,240 | +22.2% |
| Suppliers | 440/4 | €73,068 | €89,308 | +€16,240 | +22.2% |
| Taxes, remuneration and social security | 45 | €12,461 | €12,799 | +€339 | +2.7% |
| Taxes | 450/3 | €8,272 | €10,119 | +€1,847 | +22.3% |
| Remuneration and social security | 454/9 | €4,189 | €2,681 | -€1,508 | -36.0% |
| Other amounts payable | 47/48 | €97,625 | €114,370 | +€16,746 | +17.2% |
| Remuneration, social security and pensions | 62 | €92,598 | €94,029 | +€1,431 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,578 | €4,867 | -€711 | -12.7% |
| Other operating charges | 640/8 | €1,790 | €2,180 | +€390 | +21.8% |
| Gross operating margin | 9900 | €64,592 | €68,227 | +€3,635 | +5.6% |
| Operating profit (loss) | 9901 | -€35,374 | -€32,849 | +€2,525 | +7.1% |
| Financial income | 75/76B | €1 | €20 | +€18 | +1383.3% |
| Recurring financial income | 75 | €1 | €20 | +€18 | +1383.3% |
| Financial charges | 65/66B | €3,138 | €3,465 | +€326 | +10.4% |
| Recurring financial charges | 65 | €3,138 | €3,465 | +€326 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | -€38,511 | -€36,294 | +€2,217 | +5.8% |
| Income taxes | 67/77 | €26 | €741 | +€715 | +2747.5% |
| Profit (loss) for the period | 9904 | -€38,537 | -€37,036 | +€1,501 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,537 | -€37,036 | +€1,501 | +3.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.