KADOCHINE: 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.
KADOCHINE
Largest movements
- Receivables within one year +€35,360
up €35,360 (+158%), from €22,326 to €57,686
of which Trade receivables: +€35,077
- Tangible fixed assets -€15,712
down €15,712 (-27.7%), from €56,647 to €40,935
of which Furniture and vehicles: -€14,202
- Stocks and contracts +€9,108
up €9,108 (+14.4%), from €63,230 to €72,338
- Cash -€4,747
down €4,747 (-13.0%), from €36,441 to €31,694
mainly Receivables within one year (-€35,360) and Debts after one year (-€10,057)
- Trade debts +€28,839
up €28,839 (+127%), from €22,621 to €51,459
- Other debts +€10,531
up €10,531 (+57.7%), from €18,260 to €28,791
- Debts after one year -€10,057
down €10,057 (-40.4%), from €24,923 to €14,866
- Tax, wage and social debts +€4,601
up €4,601 (+27.0%), from €17,042 to €21,643
- Reserves -€4,150
down €4,150 (-6.7%), from €61,860 to €57,710
of which Distributable reserves: -€4,150
- Gross operating margin -€17,797
down €17,797 (-41.0%), from €43,356 to €25,559
- Taxes -€4,488
down €4,488 (-73.2%), from €6,129 to €1,641
- Financial charges -€983
down €983 (-41.9%), from €2,348 to €1,365
- Other operating charges -€529
down €529 (-38.6%), from €1,372 to €842
- Write-downs -€486
no longer reported in 2025 (was €486)
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 | €179,819 | €203,984 | +€24,165 | +13.4% |
| Fixed assets | 21/28 | €56,647 | €40,935 | -€15,712 | -27.7% |
| Tangible fixed assets | 22/27 | €56,647 | €40,935 | -€15,712 | -27.7% |
| Plant, machinery and equipment | 23 | €2,552 | €2,134 | -€417 | -16.4% |
| Furniture and vehicles | 24 | €47,110 | €32,907 | -€14,202 | -30.1% |
| Other tangible fixed assets | 26 | €6,986 | €5,894 | -€1,093 | -15.6% |
| Current assets | 29/58 | €123,172 | €163,049 | +€39,877 | +32.4% |
| Stocks and contracts in progress | 3 | €63,230 | €72,338 | +€9,108 | +14.4% |
| Stocks | 30/36 | €63,230 | €72,338 | +€9,108 | +14.4% |
| Amounts receivable within one year | 40/41 | €22,326 | €57,686 | +€35,360 | +158% |
| Trade receivables | 40 | €22,219 | €57,296 | +€35,077 | +158% |
| Other amounts receivable | 41 | €107 | €390 | +€283 | +264% |
| Cash at bank and in hand | 54/58 | €36,441 | €31,694 | -€4,747 | -13.0% |
| Deferred charges and accrued income | 490/1 | €1,175 | €1,331 | +€156 | +13.3% |
| Total equity and liabilities | 10/49 | €179,819 | €203,984 | +€24,165 | +13.4% |
| Equity | 10/15 | €81,168 | €77,160 | -€4,007 | -4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €61,860 | €57,710 | -€4,150 | -6.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €55,850 | -€4,150 | -6.9% |
| Profit (loss) carried forward | 14 | €708 | €850 | +€143 | +20.1% |
| Amounts payable | 17/49 | €98,651 | €126,824 | +€28,173 | +28.6% |
| Amounts payable after more than one year | 17 | €24,923 | €14,866 | -€10,057 | -40.4% |
| Financial debts | 170/4 | €24,923 | €14,866 | -€10,057 | -40.4% |
| Amounts payable within one year | 42/48 | €73,720 | €111,950 | +€38,229 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €12,798 | €10,057 | -€2,742 | -21.4% |
| Trade debts | 44 | €22,621 | €51,459 | +€28,839 | +127% |
| Suppliers | 440/4 | €22,621 | €51,459 | +€28,839 | +127% |
| Advances received on contracts in progress | 46 | €3,000 | - | -€3,000 | |
| Taxes, remuneration and social security | 45 | €17,042 | €21,643 | +€4,601 | +27.0% |
| Taxes | 450/3 | €17,042 | €21,643 | +€4,601 | +27.0% |
| Other amounts payable | 47/48 | €18,260 | €28,791 | +€10,531 | +57.7% |
| Accrued charges and deferred income | 492/3 | €8 | €8 | +€0 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,143 | €17,858 | -€286 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €486 | - | -€486 | |
| Other operating charges | 640/8 | €1,372 | €842 | -€529 | -38.6% |
| Gross operating margin | 9900 | €43,356 | €25,559 | -€17,797 | -41.0% |
| Operating profit (loss) | 9901 | €23,355 | €6,858 | -€16,496 | -70.6% |
| Financial income | 75/76B | €25 | €0 | -€25 | -99.8% |
| Recurring financial income | 75 | €25 | €0 | -€25 | -99.8% |
| Financial charges | 65/66B | €2,348 | €1,365 | -€983 | -41.9% |
| Recurring financial charges | 65 | €2,348 | €1,365 | -€983 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | €21,032 | €5,493 | -€15,538 | -73.9% |
| Income taxes | 67/77 | €6,129 | €1,641 | -€4,488 | -73.2% |
| Profit (loss) for the period | 9904 | €14,903 | €3,853 | -€11,050 | -74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,903 | €3,853 | -€11,050 | -74.1% |
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 31 October 2026 via checked.be.