KADEL: 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.
KADEL
Largest movements
- Cash +€8,533
up €8,533 (+59.2%), from €14,405 to €22,938
mainly Net result for the year (+€16,350) and Stocks and contracts (+€3,591)
- Stocks and contracts -€3,591
down €3,591 (-16.3%), from €22,091 to €18,500
- Profit (loss) carried forward +€16,350
up €16,350, from -€7,024 to €9,326
- Other debts -€12,421
down €12,421 (-67.0%), from €18,539 to €6,118
- Trade debts +€1,076
up €1,076 (+49.8%), from €2,160 to €3,235
- Gross operating margin -€9,607
down €9,607 (-34.5%), from €27,817 to €18,209
- Taxes +€1,403
new in 2025: €1,403
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 | €36,496 | €41,438 | +€4,942 | +13.5% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €36,496 | €41,438 | +€4,942 | +13.5% |
| Stocks and contracts in progress | 3 | €22,091 | €18,500 | -€3,591 | -16.3% |
| Stocks | 30/36 | €22,091 | €18,500 | -€3,591 | -16.3% |
| Cash at bank and in hand | 54/58 | €14,405 | €22,938 | +€8,533 | +59.2% |
| Total equity and liabilities | 10/49 | €36,496 | €41,438 | +€4,942 | +13.5% |
| Equity | 10/15 | €13,436 | €29,786 | +€16,350 | +121.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€7,024 | €9,326 | +€16,350 | |
| Amounts payable | 17/49 | €23,060 | €11,652 | -€11,408 | -49.5% |
| Amounts payable within one year | 42/48 | €23,060 | €11,652 | -€11,408 | -49.5% |
| Trade debts | 44 | €2,160 | €3,235 | +€1,076 | +49.8% |
| Suppliers | 440/4 | €2,160 | €3,235 | +€1,076 | +49.8% |
| Taxes, remuneration and social security | 45 | €2,361 | €2,299 | -€62 | -2.6% |
| Taxes | 450/3 | €2,361 | €2,299 | -€62 | -2.6% |
| Other amounts payable | 47/48 | €18,539 | €6,118 | -€12,421 | -67.0% |
| Other operating charges | 640/8 | €204 | €214 | +€9 | +4.6% |
| Gross operating margin | 9900 | €27,817 | €18,209 | -€9,607 | -34.5% |
| Operating profit (loss) | 9901 | €27,612 | €17,996 | -€9,617 | -34.8% |
| Financial charges | 65/66B | €246 | €243 | -€3 | -1.2% |
| Recurring financial charges | 65 | €246 | €243 | -€3 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €27,367 | €17,753 | -€9,614 | -35.1% |
| Income taxes | 67/77 | - | €1,403 | +€1,403 | |
| Profit (loss) for the period | 9904 | €27,367 | €16,350 | -€11,017 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,367 | €16,350 | -€11,017 | -40.3% |
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 30 September 2026 via checked.be.