KADIMA: 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.
KADIMA
Largest movements
- Cash +€392,346
up €392,346 (+117.2%), from €334,814 to €727,160
mainly Net result for the year (+€268,973) and Depreciation (+€119,394)
- Tangible fixed assets -€146,557
down €146,557 (-2.9%), from €5.1m to €4.9m
of which Land and buildings: -€144,315
- Reserves +€263,973
up €263,973 (+11.1%), from €2.4m to €2.6m
- Gross operating margin -€1.7m
down €1.7m (-77.4%), from €2.3m to €508,863
- Taxes -€468,270
down €468,270 (-77.8%), from €601,514 to €133,244
- Depreciation -€262,948
down €262,948 (-68.8%), from €382,342 to €119,394
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 | €7,066,107 | €7,345,121 | +€279,014 | +3.9% |
| Fixed assets | 21/28 | €5,068,557 | €4,922,000 | -€146,557 | -2.9% |
| Tangible fixed assets | 22/27 | €5,068,557 | €4,922,000 | -€146,557 | -2.9% |
| Land and buildings | 22 | €5,059,588 | €4,915,273 | -€144,315 | -2.9% |
| Furniture and vehicles | 24 | €8,969 | €6,727 | -€2,242 | -25.0% |
| Current assets | 29/58 | €1,997,550 | €2,423,121 | +€425,571 | +21.3% |
| Amounts receivable within one year | 40/41 | €4,282 | - | -€4,282 | |
| Other amounts receivable | 41 | €4,282 | - | -€4,282 | |
| Current investments | 50/53 | €1,650,356 | €1,689,777 | +€39,420 | +2.4% |
| Cash at bank and in hand | 54/58 | €334,814 | €727,160 | +€392,346 | +117.2% |
| Deferred charges and accrued income | 490/1 | €8,097 | €6,185 | -€1,913 | -23.6% |
| Total equity and liabilities | 10/49 | €7,066,107 | €7,345,121 | +€279,014 | +3.9% |
| Equity | 10/15 | €6,882,763 | €7,146,736 | +€263,973 | +3.8% |
| Contributions | 10/11 | €4,500,000 | €4,500,000 | = | 0.0% |
| Reserves | 13 | €2,382,763 | €2,646,736 | +€263,973 | +11.1% |
| Distributable reserves | 133 | €2,382,763 | €2,646,736 | +€263,973 | +11.1% |
| Amounts payable | 17/49 | €183,343 | €198,384 | +€15,041 | +8.2% |
| Amounts payable within one year | 42/48 | €182,744 | €164,748 | -€17,996 | -9.8% |
| Trade debts | 44 | €4,919 | €26,995 | +€22,076 | +448.8% |
| Suppliers | 440/4 | €4,919 | €26,995 | +€22,076 | +448.8% |
| Taxes, remuneration and social security | 45 | €163,587 | €120,138 | -€43,449 | -26.6% |
| Taxes | 450/3 | €163,587 | €120,138 | -€43,449 | -26.6% |
| Other amounts payable | 47/48 | €14,238 | €17,615 | +€3,377 | +23.7% |
| Accrued charges and deferred income | 492/3 | €599 | €33,637 | +€33,037 | +5511.1% |
| Non-recurring operating income | 76A | €1,949,902 | €187,837 | -€1.8m | -90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €382,342 | €119,394 | -€262,948 | -68.8% |
| Other operating charges | 640/8 | €28,784 | €27,649 | -€1,136 | -3.9% |
| Gross operating margin | 9900 | €2,255,302 | €508,863 | -€1.7m | -77.4% |
| Operating profit (loss) | 9901 | €1,844,176 | €361,820 | -€1.5m | -80.4% |
| Financial income | 75/76B | €81,283 | €60,591 | -€20,693 | -25.5% |
| Recurring financial income | 75 | €42,764 | €44,122 | +€1,358 | +3.2% |
| Non-recurring financial income | 76B | €38,519 | €16,469 | -€22,050 | -57.2% |
| Financial charges | 65/66B | €10,298 | €20,194 | +€9,896 | +96.1% |
| Recurring financial charges | 65 | €9,112 | €13,407 | +€4,295 | +47.1% |
| Non-recurring financial charges | 66B | €1,186 | €6,787 | +€5,601 | +472.2% |
| Profit (loss) for the period before taxes | 9903 | €1,915,162 | €402,217 | -€1.5m | -79.0% |
| Income taxes | 67/77 | €601,514 | €133,244 | -€468,270 | -77.8% |
| Profit (loss) for the period | 9904 | €1,313,648 | €268,973 | -€1.0m | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,313,648 | €268,973 | -€1.0m | -79.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.