KADET: 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.
KADET
Largest movements
- Cash +€11,292
up €11,292 (+278%), from €4,062 to €15,354
mainly Other debts (+€56,601) and Investment in fixed assets (net) (+€6,774)
- Tangible fixed assets -€11,061
down €11,061 (-60.3%), from €18,346 to €7,285
of which Plant, machinery and equipment: -€5,955
- Receivables within one year +€4,096
up €4,096 (+155%), from €2,643 to €6,739
of which Trade receivables: +€3,170
- Deferred charges and accrued income -€1,268
no longer reported in 2025 (was €1,268)
- Other debts +€56,601
up €56,601 (+62.7%), from €90,231 to €146,832
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Profit (loss) carried forward -€1,288
down €1,288 (-0.6%), from -€203,888 to -€205,177
- Accrued charges and deferred income -€1,168
down €1,168 (-68.4%), from €1,706 to €538
- Trade debts -€661
down €661 (-22.8%), from €2,899 to €2,238
- Gross operating margin +€43,928
up €43,928, from -€36,436 to €7,492
- Staff costs -€8,836
down €8,836 (-90.2%), from €9,794 to €958
- Financial charges -€3,994
down €3,994 (-67.7%), from €5,904 to €1,910
- Depreciation -€3,085
down €3,085 (-41.9%), from €7,372 to €4,287
- Other operating charges -€470
down €470 (-23.9%), from €1,964 to €1,494
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.
Derived cash bridge
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 | €26,319 | €29,379 | +€3,060 | +11.6% |
| Fixed assets | 21/28 | €18,346 | €7,285 | -€11,061 | -60.3% |
| Tangible fixed assets | 22/27 | €18,346 | €7,285 | -€11,061 | -60.3% |
| Land and buildings | 22 | €701 | €467 | -€234 | -33.3% |
| Plant, machinery and equipment | 23 | €12,354 | €6,400 | -€5,955 | -48.2% |
| Furniture and vehicles | 24 | €5,291 | €418 | -€4,872 | -92.1% |
| Current assets | 29/58 | €7,973 | €22,093 | +€14,120 | +177% |
| Amounts receivable within one year | 40/41 | €2,643 | €6,739 | +€4,096 | +155% |
| Trade receivables | 40 | - | €3,170 | +€3,170 | |
| Other amounts receivable | 41 | €2,643 | €3,569 | +€927 | +35.1% |
| Cash at bank and in hand | 54/58 | €4,062 | €15,354 | +€11,292 | +278% |
| Deferred charges and accrued income | 490/1 | €1,268 | - | -€1,268 | |
| Total equity and liabilities | 10/49 | €26,319 | €29,379 | +€3,060 | +11.6% |
| Equity | 10/15 | -€119,076 | -€120,364 | -€1,288 | -1.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €65,813 | €65,813 | = | 0.0% |
| Distributable reserves | 133 | €65,813 | €65,813 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€203,888 | -€205,177 | -€1,288 | -0.6% |
| Amounts payable | 17/49 | €145,395 | €149,742 | +€4,348 | +3.0% |
| Amounts payable within one year | 42/48 | €143,689 | €149,204 | +€5,515 | +3.8% |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €2,899 | €2,238 | -€661 | -22.8% |
| Suppliers | 440/4 | €2,899 | €2,238 | -€661 | -22.8% |
| Taxes, remuneration and social security | 45 | €559 | €135 | -€424 | -75.9% |
| Taxes | 450/3 | €559 | €135 | -€424 | -75.9% |
| Other amounts payable | 47/48 | €90,231 | €146,832 | +€56,601 | +62.7% |
| Accrued charges and deferred income | 492/3 | €1,706 | €538 | -€1,168 | -68.4% |
| Remuneration, social security and pensions | 62 | €9,794 | €958 | -€8,836 | -90.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,372 | €4,287 | -€3,085 | -41.9% |
| Other operating charges | 640/8 | €1,964 | €1,494 | -€470 | -23.9% |
| Gross operating margin | 9900 | -€36,436 | €7,492 | +€43,928 | |
| Operating profit (loss) | 9901 | -€55,566 | €754 | +€56,319 | |
| Financial income | 75/76B | €1 | €3 | +€2 | +384% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +384% |
| Financial charges | 65/66B | €5,904 | €1,910 | -€3,994 | -67.7% |
| Recurring financial charges | 65 | €5,904 | €1,910 | -€3,994 | -67.7% |
| Profit (loss) for the period before taxes | 9903 | -€61,469 | -€1,153 | +€60,316 | +98.1% |
| Income taxes | 67/77 | - | €135 | +€135 | |
| Profit (loss) for the period | 9904 | -€61,469 | -€1,288 | +€60,181 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,469 | -€1,288 | +€60,181 | +97.9% |
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 13 October 2026 via checked.be.