KaDeC: 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.
KaDeC
Largest movements
- Cash +€65,565
up €65,565 (+85.3%), from €76,847 to €142,412
mainly Net result for the year (+€56,658) and Current investments (+€50,000)
- Current investments -€50,000
down €50,000 (-20.0%), from €250,000 to €200,000
- Receivables after one year -€30,000
no longer reported in 2025 (was €30,000)
- Receivables within one year +€4,435
up €4,435 (+24.0%), from €18,447 to €22,882
of which Trade receivables: +€4,495
- Reserves +€56,658
up €56,658 (+20.3%), from €279,483 to €336,141
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Tax, wage and social debts -€24,040
down €24,040 (-52.4%), from €45,837 to €21,797
of which Taxes: -€15,230
- Trade debts +€6,673
up €6,673 (+643.1%), from €1,038 to €7,711
- Gross operating margin -€12,742
down €12,742 (-14.6%), from €87,356 to €74,613
- Taxes -€3,055
down €3,055 (-12.3%), from €24,874 to €21,819
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 | €378,076 | €367,148 | -€10,928 | -2.9% |
| Fixed assets | 21/28 | €845 | €354 | -€491 | -58.1% |
| Tangible fixed assets | 22/27 | €845 | €354 | -€491 | -58.1% |
| Furniture and vehicles | 24 | €845 | €354 | -€491 | -58.1% |
| Current assets | 29/58 | €377,231 | €366,794 | -€10,437 | -2.8% |
| Amounts receivable after more than one year | 29 | €30,000 | - | -€30,000 | |
| Other amounts receivable | 291 | €30,000 | - | -€30,000 | |
| Amounts receivable within one year | 40/41 | €18,447 | €22,882 | +€4,435 | +24.0% |
| Trade receivables | 40 | €18,372 | €22,867 | +€4,495 | +24.5% |
| Other amounts receivable | 41 | €76 | €16 | -€60 | -79.5% |
| Current investments | 50/53 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Cash at bank and in hand | 54/58 | €76,847 | €142,412 | +€65,565 | +85.3% |
| Deferred charges and accrued income | 490/1 | €1,937 | €1,500 | -€437 | -22.6% |
| Total equity and liabilities | 10/49 | €378,076 | €367,148 | -€10,928 | -2.9% |
| Equity | 10/15 | €280,983 | €337,641 | +€56,658 | +20.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €279,483 | €336,141 | +€56,658 | +20.3% |
| Distributable reserves | 133 | €279,483 | €336,141 | +€56,658 | +20.3% |
| Amounts payable | 17/49 | €97,094 | €29,508 | -€67,586 | -69.6% |
| Amounts payable within one year | 42/48 | €96,875 | €29,508 | -€67,367 | -69.5% |
| Trade debts | 44 | €1,038 | €7,711 | +€6,673 | +643.1% |
| Suppliers | 440/4 | €1,038 | €7,711 | +€6,673 | +643.1% |
| Taxes, remuneration and social security | 45 | €45,837 | €21,797 | -€24,040 | -52.4% |
| Taxes | 450/3 | €37,027 | €21,797 | -€15,230 | -41.1% |
| Remuneration and social security | 454/9 | €8,810 | - | -€8,810 | |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Accrued charges and deferred income | 492/3 | €219 | - | -€219 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €580 | €491 | -€90 | -15.5% |
| Other operating charges | 640/8 | €451 | €642 | +€191 | +42.3% |
| Gross operating margin | 9900 | €87,356 | €74,613 | -€12,742 | -14.6% |
| Operating profit (loss) | 9901 | €86,324 | €73,481 | -€12,843 | -14.9% |
| Financial income | 75/76B | €4,413 | €5,281 | +€868 | +19.7% |
| Recurring financial income | 75 | €4,413 | €5,281 | +€868 | +19.7% |
| Financial charges | 65/66B | €413 | €285 | -€128 | -31.1% |
| Recurring financial charges | 65 | €413 | €285 | -€128 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €90,324 | €78,477 | -€11,847 | -13.1% |
| Income taxes | 67/77 | €24,874 | €21,819 | -€3,055 | -12.3% |
| Profit (loss) for the period | 9904 | €65,450 | €56,658 | -€8,792 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,450 | €56,658 | -€8,792 | -13.4% |
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.