KADEGO: 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.
KADEGO
Largest movements
- Receivables within one year +€214,700
up €214,700 (+202.7%), from €105,929 to €320,629
- Cash -€37,864
down €37,864 (-39.0%), from €97,085 to €59,221
mainly Contributions, distributions and other (-€350,000) and Receivables within one year (-€214,700)
- Tangible fixed assets -€20,534
down €20,534 (-41.7%), from €49,294 to €28,760
of which Other tangible fixed assets: -€19,885
- Stocks and contracts -€19,277
down €19,277 (-5.7%), from €339,536 to €320,260
- Other debts +€350,000
up €350,000 (+368.4%), from €95,000 to €445,000
- Profit (loss) carried forward -€217,689
down €217,689 (-63.7%), from €341,756 to €124,067
- Tax, wage and social debts -€13,767
down €13,767 (-11.9%), from €115,629 to €101,862
of which Taxes: -€21,918
- Staff costs -€6,835
down €6,835 (-2.4%), from €286,327 to €279,492
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 | €601,511 | €731,024 | +€129,513 | +21.5% |
| Fixed assets | 21/28 | €52,557 | €28,760 | -€23,796 | -45.3% |
| Intangible fixed assets | 21 | €3,263 | €0 | -€3,263 | -100.0% |
| Tangible fixed assets | 22/27 | €49,294 | €28,760 | -€20,534 | -41.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,632 | €984 | -€648 | -39.7% |
| Other tangible fixed assets | 26 | €47,662 | €27,776 | -€19,885 | -41.7% |
| Current assets | 29/58 | €548,954 | €702,263 | +€153,309 | +27.9% |
| Stocks and contracts in progress | 3 | €339,536 | €320,260 | -€19,277 | -5.7% |
| Stocks | 30/36 | €339,536 | €320,260 | -€19,277 | -5.7% |
| Amounts receivable within one year | 40/41 | €105,929 | €320,629 | +€214,700 | +202.7% |
| Other amounts receivable | 41 | €105,929 | €320,629 | +€214,700 | +202.7% |
| Cash at bank and in hand | 54/58 | €97,085 | €59,221 | -€37,864 | -39.0% |
| Deferred charges and accrued income | 490/1 | €6,404 | €2,154 | -€4,250 | -66.4% |
| Total equity and liabilities | 10/49 | €601,511 | €731,024 | +€129,513 | +21.5% |
| Equity | 10/15 | €371,324 | €153,635 | -€217,689 | -58.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €4,568 | €4,568 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,068 | €2,068 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €341,756 | €124,067 | -€217,689 | -63.7% |
| Amounts payable | 17/49 | €230,187 | €577,389 | +€347,202 | +150.8% |
| Amounts payable within one year | 42/48 | €230,187 | €570,924 | +€340,737 | +148.0% |
| Current portion of amounts payable after more than one year | 42 | €1,707 | €3,832 | +€2,125 | +124.5% |
| Financial debts | 43 | €8,000 | €10,000 | +€2,000 | +25.0% |
| Credit institutions | 430/8 | €8,000 | €10,000 | +€2,000 | +25.0% |
| Trade debts | 44 | €9,851 | €10,230 | +€379 | +3.8% |
| Suppliers | 440/4 | €9,851 | €10,230 | +€379 | +3.8% |
| Taxes, remuneration and social security | 45 | €115,629 | €101,862 | -€13,767 | -11.9% |
| Taxes | 450/3 | €92,215 | €70,298 | -€21,918 | -23.8% |
| Remuneration and social security | 454/9 | €23,414 | €31,565 | +€8,151 | +34.8% |
| Other amounts payable | 47/48 | €95,000 | €445,000 | +€350,000 | +368.4% |
| Accrued charges and deferred income | 492/3 | - | €6,465 | +€6,465 | |
| Remuneration, social security and pensions | 62 | €286,327 | €279,492 | -€6,835 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,471 | €30,716 | -€3,755 | -10.9% |
| Other operating charges | 640/8 | €3,485 | €2,021 | -€1,464 | -42.0% |
| Gross operating margin | 9900 | €492,210 | €495,746 | +€3,536 | +0.7% |
| Operating profit (loss) | 9901 | €167,927 | €183,517 | +€15,590 | +9.3% |
| Financial income | 75/76B | €77 | - | -€77 | |
| Recurring financial income | 75 | €77 | - | -€77 | |
| Financial charges | 65/66B | €2,580 | €3,147 | +€567 | +22.0% |
| Recurring financial charges | 65 | €2,580 | €3,147 | +€567 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €165,424 | €180,370 | +€14,946 | +9.0% |
| Income taxes | 67/77 | €46,913 | €48,059 | +€1,146 | +2.4% |
| Profit (loss) for the period | 9904 | €118,511 | €132,311 | +€13,800 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €118,511 | €132,311 | +€13,800 | +11.6% |
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 12 October 2026 via checked.be.