KADINA: 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.
KADINA
Largest movements
- Tangible fixed assets -€59,803
down €59,803 (-7.0%), from €850,512 to €790,709
- Stocks and contracts -€13,938
down €13,938 (-41.5%), from €33,624 to €19,686
- Receivables within one year -€12,296
down €12,296 (-84.1%), from €14,628 to €2,332
- Profit (loss) carried forward -€56,671
down €56,671 (-329.0%), from -€17,223 to -€73,893
- Investment grants -€35,529
down €35,529 (-8.3%), from €427,086 to €391,557
- Other debts +€34,484
up €34,484 (+20.2%), from €170,888 to €205,372
- Provisions -€11,843
down €11,843 (-8.3%), from €142,362 to €130,519
- Tax, wage and social debts -€9,449
down €9,449 (-98.3%), from €9,617 to €167
- Gross operating margin -€29,102
down €29,102, from €2,751 to -€26,351
- Other operating charges +€9,380
up €9,380 (+116.0%), from €8,085 to €17,465
- Financial income -€1,028
down €1,028 (-2.1%), from €48,400 to €47,372
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 | €900,269 | €818,347 | -€81,922 | -9.1% |
| Fixed assets | 21/28 | €851,312 | €791,509 | -€59,803 | -7.0% |
| Tangible fixed assets | 22/27 | €850,512 | €790,709 | -€59,803 | -7.0% |
| Land and buildings | 22 | €850,512 | €790,709 | -€59,803 | -7.0% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €48,958 | €26,838 | -€22,120 | -45.2% |
| Stocks and contracts in progress | 3 | €33,624 | €19,686 | -€13,938 | -41.5% |
| Stocks | 30/36 | €33,624 | €19,686 | -€13,938 | -41.5% |
| Amounts receivable within one year | 40/41 | €14,628 | €2,332 | -€12,296 | -84.1% |
| Trade receivables | 40 | €14,628 | €2,332 | -€12,296 | -84.1% |
| Cash at bank and in hand | 54/58 | €331 | €4,465 | +€4,134 | +1250.0% |
| Deferred charges and accrued income | 490/1 | €375 | €356 | -€20 | -5.2% |
| Total equity and liabilities | 10/49 | €900,269 | €818,347 | -€81,922 | -9.1% |
| Equity | 10/15 | €574,168 | €481,968 | -€92,200 | -16.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €64,304 | €64,304 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €54,304 | €54,304 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,223 | -€73,893 | -€56,671 | -329.0% |
| Investment grants | 15 | €427,086 | €391,557 | -€35,529 | -8.3% |
| Provisions and deferred taxes | 16 | €142,362 | €130,519 | -€11,843 | -8.3% |
| Deferred taxes | 168 | €142,362 | €130,519 | -€11,843 | -8.3% |
| Amounts payable | 17/49 | €183,740 | €205,861 | +€22,121 | +12.0% |
| Amounts payable within one year | 42/48 | €183,740 | €205,861 | +€22,121 | +12.0% |
| Trade debts | 44 | €3,235 | €321 | -€2,914 | -90.1% |
| Suppliers | 440/4 | €3,235 | €321 | -€2,914 | -90.1% |
| Taxes, remuneration and social security | 45 | €9,617 | €167 | -€9,449 | -98.3% |
| Taxes | 450/3 | €9,617 | €167 | -€9,449 | -98.3% |
| Other amounts payable | 47/48 | €170,888 | €205,372 | +€34,484 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,803 | €59,803 | = | 0.0% |
| Other operating charges | 640/8 | €8,085 | €17,465 | +€9,380 | +116.0% |
| Gross operating margin | 9900 | €2,751 | -€26,351 | -€29,102 | |
| Operating profit (loss) | 9901 | -€65,137 | -€103,618 | -€38,482 | -59.1% |
| Financial income | 75/76B | €48,400 | €47,372 | -€1,028 | -2.1% |
| Recurring financial income | 75 | €48,400 | €47,372 | -€1,028 | -2.1% |
| Financial charges | 65/66B | €504 | €425 | -€80 | -15.8% |
| Recurring financial charges | 65 | €504 | €425 | -€80 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | -€17,241 | -€56,671 | -€39,430 | -228.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€17,241 | -€56,671 | -€39,430 | -228.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,241 | -€56,671 | -€39,430 | -228.7% |
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 4 October 2026 via checked.be.