KADO'LINE: 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.
KADO'LINE
Largest movements
- Tangible fixed assets -€11,496
down €11,496 (-19.7%), from €58,305 to €46,809
of which Leasing and similar rights: -€9,156
- Stocks and contracts +€4,942
up €4,942 (+7.5%), from €65,770 to €70,712
- Current investments -€1,450
down €1,450 (-41.9%), from €3,462 to €2,012
- Other debts +€10,368
up €10,368 (+439%), from €2,364 to €12,732
- Debts after one year -€7,055
down €7,055 (-26.2%), from €26,886 to €19,831
- Trade debts -€5,518
down €5,518 (-71.0%), from €7,768 to €2,250
- Reserves -€2,836
down €2,836 (-5.2%), from €54,940 to €52,104
of which Tax-exempt reserves: -€2,836
- Current portion of long-term debt -€1,888
down €1,888 (-13.2%), from €14,270 to €12,381
- Financial income -€17,850
down €17,850 (-94.8%), from €18,821 to €970
of which Non-recurring financial income: -€17,726
- Gross operating margin +€3,184
up €3,184 (+8.5%), from €37,355 to €40,539
- Depreciation +€2,122
up €2,122 (+14.3%), from €14,806 to €16,927
- Other operating charges +€684
up €684 (+454%), from €151 to €834
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 | €130,960 | €123,995 | -€6,965 | -5.3% |
| Fixed assets | 21/28 | €59,466 | €47,220 | -€12,246 | -20.6% |
| Intangible fixed assets | 21 | €1,161 | €411 | -€750 | -64.6% |
| Tangible fixed assets | 22/27 | €58,305 | €46,809 | -€11,496 | -19.7% |
| Plant, machinery and equipment | 23 | €4,943 | €4,921 | -€22 | -0.5% |
| Furniture and vehicles | 24 | €7,953 | €6,493 | -€1,461 | -18.4% |
| Leasing and similar rights | 25 | €38,624 | €29,468 | -€9,156 | -23.7% |
| Other tangible fixed assets | 26 | €6,784 | €5,927 | -€857 | -12.6% |
| Current assets | 29/58 | €71,494 | €76,775 | +€5,281 | +7.4% |
| Stocks and contracts in progress | 3 | €65,770 | €70,712 | +€4,942 | +7.5% |
| Stocks | 30/36 | €65,770 | €70,712 | +€4,942 | +7.5% |
| Amounts receivable within one year | 40/41 | €683 | €1,263 | +€580 | +84.9% |
| Trade receivables | 40 | €327 | €1,258 | +€931 | +285% |
| Other amounts receivable | 41 | €356 | €5 | -€351 | -98.6% |
| Current investments | 50/53 | €3,462 | €2,012 | -€1,450 | -41.9% |
| Cash at bank and in hand | 54/58 | €762 | €2,039 | +€1,277 | +168% |
| Deferred charges and accrued income | 490/1 | €817 | €749 | -€68 | -8.3% |
| Total equity and liabilities | 10/49 | €130,960 | €123,995 | -€6,965 | -5.3% |
| Equity | 10/15 | €65,486 | €62,916 | -€2,570 | -3.9% |
| Contributions | 10/11 | €11,000 | €11,000 | = | 0.0% |
| Reserves | 13 | €54,940 | €52,104 | -€2,836 | -5.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,965 | €9,128 | -€2,836 | -23.7% |
| Distributable reserves | 133 | €40,975 | €40,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€454 | -€188 | +€266 | +58.6% |
| Provisions and deferred taxes | 16 | €2,991 | €2,282 | -€709 | -23.7% |
| Deferred taxes | 168 | €2,991 | €2,282 | -€709 | -23.7% |
| Amounts payable | 17/49 | €62,483 | €58,797 | -€3,686 | -5.9% |
| Amounts payable after more than one year | 17 | €26,886 | €19,831 | -€7,055 | -26.2% |
| Financial debts | 170/4 | €26,886 | €19,831 | -€7,055 | -26.2% |
| Amounts payable within one year | 42/48 | €35,588 | €38,966 | +€3,377 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €14,270 | €12,381 | -€1,888 | -13.2% |
| Trade debts | 44 | €7,768 | €2,250 | -€5,518 | -71.0% |
| Suppliers | 440/4 | €7,768 | €2,250 | -€5,518 | -71.0% |
| Taxes, remuneration and social security | 45 | €11,187 | €11,603 | +€416 | +3.7% |
| Taxes | 450/3 | €7,289 | €6,875 | -€414 | -5.7% |
| Remuneration and social security | 454/9 | €3,898 | €4,728 | +€830 | +21.3% |
| Other amounts payable | 47/48 | €2,364 | €12,732 | +€10,368 | +439% |
| Accrued charges and deferred income | 492/3 | €8 | - | -€8 | |
| Remuneration, social security and pensions | 62 | €23,223 | €23,334 | +€111 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,806 | €16,927 | +€2,122 | +14.3% |
| Other operating charges | 640/8 | €151 | €834 | +€684 | +454% |
| Gross operating margin | 9900 | €37,355 | €40,539 | +€3,184 | +8.5% |
| Operating profit (loss) | 9901 | -€824 | -€556 | +€268 | +32.5% |
| Financial income | 75/76B | €18,821 | €970 | -€17,850 | -94.8% |
| Recurring financial income | 75 | €1,094 | €970 | -€124 | -11.3% |
| Non-recurring financial income | 76B | €17,726 | - | -€17,726 | |
| Financial charges | 65/66B | €3,494 | €3,693 | +€199 | +5.7% |
| Recurring financial charges | 65 | €3,494 | €3,693 | +€199 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €14,502 | -€3,279 | -€17,781 | |
| Transfer from deferred taxes | 780 | €554 | €709 | +€155 | +28.0% |
| Transfer to deferred taxes | 680 | €3,545 | - | -€3,545 | |
| Profit (loss) for the period | 9904 | €11,511 | -€2,570 | -€14,081 | |
| Transfer from tax-exempt reserves | 789 | €2,216 | €2,836 | +€620 | +28.0% |
| Transfer to tax-exempt reserves | 689 | €14,181 | - | -€14,181 | |
| Profit (loss) for the period to be appropriated | 9905 | -€454 | €266 | +€720 |
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 16 October 2026 via checked.be.