Kadic Invest: what changed
What changed
Kadic Invest
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€427,737
2024 · €304,353+€123,384
Equity
€1.1m
2024 · €660,276+€427,737
Cash
€56,418
2024 · €31,752+€24,666
Balance sheet total
€2.8m
2024 · €2.8m-€32,832
Largest movements
Assets
- Tangible fixed assets -€60,073
down €60,073 (-4.7%), from €1.3m to €1.2m
of which Land and buildings: -€59,302
Equity and liabilities
- Debts after one year -€460,748
down €460,748 (-22.5%), from €2.0m to €1.6m
- Reserves +€400,000
up €400,000 (+61.5%), from €650,000 to €1.1m
Income statement
- Financial income +€120,000
up €120,000 (+42.9%), from €280,000 to €400,000
- Gross operating margin +€4,418
up €4,418 (+3.7%), from €119,150 to €123,568
- Taxes +€4,200
new in 2025: €4,200
- Depreciation -€2,456
down €2,456 (-3.9%), from €62,529 to €60,073
- Financial charges -€1,654
down €1,654 (-6.0%), from €27,489 to €25,836
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€304,353
Gross operating margin
+€4,418
Depreciation
+€2,456
Other operating charges
-€944
Financial income
+€120,000
Financial charges
+€1,654
Taxes
-€4,200
Result 2025
€427,737
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€483,709
Investment
€0
Financing
-€459,043
Cash 2024
€31,752
From operations (derived)
+€483,709
Net result for the year
+€427,737
Depreciation
+€60,073
Receivables within one year
-€3,422
Deferred charges and accrued income
+€847
Trade debts
+€3,245
Tax, wage and social debts
+€4,200
Other debts
-€6,791
Accrued charges and deferred income
-€2,181
Financing
-€459,043
Debts after one year
-€460,748
Current portion of long-term debt
+€1,706
Cash 2025
€56,418
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,797,755 | €2,764,923 | -€32,832 | -1.2% |
| Fixed assets | 21/28 | €2,761,418 | €2,701,345 | -€60,073 | -2.2% |
| Tangible fixed assets | 22/27 | €1,286,241 | €1,226,168 | -€60,073 | -4.7% |
| Land and buildings | 22 | €1,278,836 | €1,219,534 | -€59,302 | -4.6% |
| Plant, machinery and equipment | 23 | €7,405 | €6,634 | -€771 | -10.4% |
| Financial fixed assets | 28 | €1,475,177 | €1,475,177 | = | 0.0% |
| Current assets | 29/58 | €36,337 | €63,578 | +€27,241 | +75.0% |
| Amounts receivable within one year | 40/41 | €1,878 | €5,300 | +€3,422 | +182% |
| Trade receivables | 40 | €849 | €4,552 | +€3,703 | +436% |
| Other amounts receivable | 41 | €1,030 | €749 | -€281 | -27.3% |
| Cash at bank and in hand | 54/58 | €31,752 | €56,418 | +€24,666 | +77.7% |
| Deferred charges and accrued income | 490/1 | €2,707 | €1,860 | -€847 | -31.3% |
| Total equity and liabilities | 10/49 | €2,797,755 | €2,764,923 | -€32,832 | -1.2% |
| Equity | 10/15 | €660,276 | €1,088,013 | +€427,737 | +64.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €650,000 | €1,050,000 | +€400,000 | +61.5% |
| Distributable reserves | 133 | €650,000 | €1,050,000 | +€400,000 | +61.5% |
| Profit (loss) carried forward | 14 | €7,276 | €35,013 | +€27,737 | +381% |
| Amounts payable | 17/49 | €2,137,479 | €1,676,910 | -€460,569 | -21.5% |
| Amounts payable after more than one year | 17 | €2,045,708 | €1,584,960 | -€460,748 | -22.5% |
| Financial debts | 170/4 | €2,045,708 | €1,584,960 | -€460,748 | -22.5% |
| Amounts payable within one year | 42/48 | €85,291 | €87,650 | +€2,360 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €59,043 | €60,748 | +€1,706 | +2.9% |
| Trade debts | 44 | - | €3,245 | +€3,245 | |
| Suppliers | 440/4 | - | €3,245 | +€3,245 | |
| Taxes, remuneration and social security | 45 | €3,600 | €7,800 | +€4,200 | +117% |
| Taxes | 450/3 | €3,600 | €7,800 | +€4,200 | +117% |
| Other amounts payable | 47/48 | €22,648 | €15,858 | -€6,791 | -30.0% |
| Accrued charges and deferred income | 492/3 | €6,480 | €4,299 | -€2,181 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,529 | €60,073 | -€2,456 | -3.9% |
| Other operating charges | 640/8 | €4,779 | €5,723 | +€944 | +19.8% |
| Gross operating margin | 9900 | €119,150 | €123,568 | +€4,418 | +3.7% |
| Operating profit (loss) | 9901 | €51,842 | €57,772 | +€5,930 | +11.4% |
| Financial income | 75/76B | €280,000 | €400,000 | +€120,000 | +42.9% |
| Recurring financial income | 75 | €280,000 | €400,000 | +€120,000 | +42.9% |
| Financial charges | 65/66B | €27,489 | €25,836 | -€1,654 | -6.0% |
| Recurring financial charges | 65 | €27,489 | €25,836 | -€1,654 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €304,353 | €431,937 | +€127,584 | +41.9% |
| Income taxes | 67/77 | - | €4,200 | +€4,200 | |
| Profit (loss) for the period | 9904 | €304,353 | €427,737 | +€123,384 | +40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €304,353 | €427,737 | +€123,384 | +40.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.