Kadens: 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.
Kadens
Largest movements
- Tangible fixed assets -€18,441
down €18,441 (-13.7%), from €134,730 to €116,290
of which Land and buildings: -€10,000
- Cash +€11,829
up €11,829 (+4.2%), from €282,806 to €294,635
mainly Depreciation (+€16,913) and Net result for the year (+€8,620)
- Debts after one year -€17,865
down €17,865 (-14.4%), from €123,953 to €106,088
- Reserves +€8,620
up €8,620 (+3.3%), from €262,088 to €270,708
of which Distributable reserves: +€8,620
- Gross operating margin -€73,244
down €73,244 (-70.1%), from €104,492 to €31,248
- Taxes -€18,789
down €18,789 (-83.5%), from €22,503 to €3,714
- Depreciation -€4,116
down €4,116 (-19.6%), from €21,029 to €16,913
- Financial income +€2,117
up €2,117 (+1015.5%), from €208 to €2,326
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 | €439,194 | €427,364 | -€11,830 | -2.7% |
| Fixed assets | 21/28 | €134,730 | €116,290 | -€18,441 | -13.7% |
| Tangible fixed assets | 22/27 | €134,730 | €116,290 | -€18,441 | -13.7% |
| Land and buildings | 22 | €119,317 | €109,317 | -€10,000 | -8.4% |
| Plant, machinery and equipment | 23 | €14,550 | €6,562 | -€7,988 | -54.9% |
| Furniture and vehicles | 24 | €864 | €411 | -€453 | -52.4% |
| Current assets | 29/58 | €304,464 | €311,074 | +€6,610 | +2.2% |
| Amounts receivable within one year | 40/41 | €14,997 | €14,134 | -€863 | -5.8% |
| Trade receivables | 40 | €1,087 | €1,087 | = | 0.0% |
| Other amounts receivable | 41 | €13,910 | €13,047 | -€863 | -6.2% |
| Cash at bank and in hand | 54/58 | €282,806 | €294,635 | +€11,829 | +4.2% |
| Deferred charges and accrued income | 490/1 | €6,661 | €2,305 | -€4,355 | -65.4% |
| Total equity and liabilities | 10/49 | €439,194 | €427,364 | -€11,830 | -2.7% |
| Equity | 10/15 | €292,488 | €301,108 | +€8,620 | +2.9% |
| Contributions | 10/11 | €30,400 | €30,400 | = | 0.0% |
| Reserves | 13 | €262,088 | €270,708 | +€8,620 | +3.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €260,228 | €268,848 | +€8,620 | +3.3% |
| Amounts payable | 17/49 | €146,706 | €126,256 | -€20,450 | -13.9% |
| Amounts payable after more than one year | 17 | €123,953 | €106,088 | -€17,865 | -14.4% |
| Financial debts | 170/4 | €123,953 | €106,088 | -€17,865 | -14.4% |
| Amounts payable within one year | 42/48 | €21,136 | €18,595 | -€2,541 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €17,656 | €17,865 | +€209 | +1.2% |
| Trade debts | 44 | €1,180 | €730 | -€450 | -38.2% |
| Suppliers | 440/4 | €1,180 | €730 | -€450 | -38.2% |
| Taxes, remuneration and social security | 45 | €2,300 | €0 | -€2,300 | -100.0% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €2,300 | €0 | -€2,300 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,618 | €1,574 | -€45 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,029 | €16,913 | -€4,116 | -19.6% |
| Other operating charges | 640/8 | €984 | €616 | -€368 | -37.4% |
| Non-recurring operating charges | 66A | €229 | €1,528 | +€1,299 | +568.5% |
| Gross operating margin | 9900 | €104,492 | €31,248 | -€73,244 | -70.1% |
| Operating profit (loss) | 9901 | €82,251 | €12,192 | -€70,059 | -85.2% |
| Financial income | 75/76B | €208 | €2,326 | +€2,117 | +1015.5% |
| Recurring financial income | 75 | €208 | €2,326 | +€2,117 | +1015.5% |
| Financial charges | 65/66B | €2,343 | €2,183 | -€159 | -6.8% |
| Recurring financial charges | 65 | €2,343 | €2,183 | -€159 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €80,116 | €12,334 | -€67,783 | -84.6% |
| Income taxes | 67/77 | €22,503 | €3,714 | -€18,789 | -83.5% |
| Profit (loss) for the period | 9904 | €57,614 | €8,620 | -€48,993 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,614 | €8,620 | -€48,993 | -85.0% |
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.