KADINCA: 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.
KADINCA
Largest movements
- Stocks and contracts -€118,778
down €118,778 (-54.3%), from €218,778 to €100,000
- Receivables within one year -€22,909
down €22,909 (-17.5%), from €130,963 to €108,054
of which Trade receivables: -€20,367
- Tangible fixed assets -€19,064
down €19,064 (-100%), from €19,064 to €0
of which Other tangible fixed assets: -€18,097
- Cash -€3,854
down €3,854 (-84.2%), from €4,577 to €723
mainly Net result for the year (-€179,825) and Tax, wage and social debts (-€27,179)
- Profit (loss) carried forward -€179,825
down €179,825 (-233%), from -€77,133 to -€256,957
- Other debts +€57,988
up €57,988, from €0 to €57,988
- Tax, wage and social debts -€27,179
down €27,179 (-91.0%), from €29,869 to €2,690
of which Taxes: -€20,964
- Debts after one year -€14,500
down €14,500 (-4.9%), from €294,483 to €279,983
- Write-downs +€121,801
up €121,801 (+712%), from €17,112 to €138,913
- Financial charges -€30,883
down €30,883 (-58.7%), from €52,585 to €21,702
- Gross operating margin +€11,251
up €11,251 (+42.9%), from €26,237 to €37,488
- Staff costs +€5,365
up €5,365 (+16.8%), from €32,029 to €37,394
- Depreciation -€3,980
down €3,980 (-100%), from €3,980 to €0
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 | €377,070 | €214,580 | -€162,489 | -43.1% |
| Fixed assets | 21/28 | €19,364 | €300 | -€19,064 | -98.5% |
| Tangible fixed assets | 22/27 | €19,064 | €0 | -€19,064 | -100% |
| Plant, machinery and equipment | 23 | €967 | €0 | -€967 | -100% |
| Other tangible fixed assets | 26 | €18,097 | €0 | -€18,097 | -100% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €357,706 | €214,280 | -€143,426 | -40.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €218,778 | €100,000 | -€118,778 | -54.3% |
| Stocks | 30/36 | €218,778 | €100,000 | -€118,778 | -54.3% |
| Amounts receivable within one year | 40/41 | €130,963 | €108,054 | -€22,909 | -17.5% |
| Trade receivables | 40 | €35,367 | €15,000 | -€20,367 | -57.6% |
| Other amounts receivable | 41 | €95,596 | €93,054 | -€2,542 | -2.7% |
| Cash at bank and in hand | 54/58 | €4,577 | €723 | -€3,854 | -84.2% |
| Deferred charges and accrued income | 490/1 | €3,388 | €5,503 | +€2,116 | +62.4% |
| Total equity and liabilities | 10/49 | €377,070 | €214,580 | -€162,489 | -43.1% |
| Equity | 10/15 | €33,778 | -€146,047 | -€179,825 | |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €103,911 | €103,911 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,274 | €14,274 | = | 0.0% |
| Distributable reserves | 133 | €89,637 | €89,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,133 | -€256,957 | -€179,825 | -233% |
| Amounts payable | 17/49 | €343,292 | €360,627 | +€17,335 | +5.0% |
| Amounts payable after more than one year | 17 | €294,483 | €279,983 | -€14,500 | -4.9% |
| Financial debts | 170/4 | €294,483 | €279,983 | -€14,500 | -4.9% |
| Amounts payable within one year | 42/48 | €48,809 | €80,644 | +€31,835 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | €13,572 | €14,500 | +€928 | +6.8% |
| Trade debts | 44 | €5,368 | €5,466 | +€98 | +1.8% |
| Suppliers | 440/4 | €5,368 | €5,466 | +€98 | +1.8% |
| Taxes, remuneration and social security | 45 | €29,869 | €2,690 | -€27,179 | -91.0% |
| Taxes | 450/3 | €20,964 | €0 | -€20,964 | -100% |
| Remuneration and social security | 454/9 | €8,904 | €2,690 | -€6,214 | -69.8% |
| Other amounts payable | 47/48 | €0 | €57,988 | +€57,988 | |
| Remuneration, social security and pensions | 62 | €32,029 | €37,394 | +€5,365 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,980 | €0 | -€3,980 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,112 | €138,913 | +€121,801 | +712% |
| Other operating charges | 640/8 | €1,031 | €3,744 | +€2,712 | +263% |
| Non-recurring operating charges | 66A | - | €21,064 | +€21,064 | |
| Gross operating margin | 9900 | €26,237 | €37,488 | +€11,251 | +42.9% |
| Operating profit (loss) | 9901 | -€27,916 | -€163,626 | -€135,710 | -486% |
| Financial income | 75/76B | €3,368 | €5,503 | +€2,135 | +63.4% |
| Recurring financial income | 75 | €3,368 | €5,503 | +€2,135 | +63.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €52,585 | €21,702 | -€30,883 | -58.7% |
| Recurring financial charges | 65 | €52,585 | €21,702 | -€30,883 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | -€77,133 | -€179,825 | -€102,692 | -133% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€77,133 | -€179,825 | -€102,692 | -133% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,133 | -€179,825 | -€102,692 | -133% |
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 25 October 2026 via checked.be.