KADOR: 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.
KADOR
Largest movements
- Cash -€52,301
down €52,301 (-20.6%), from €253,668 to €201,367
mainly Net result for the year (-€54,215) and Current investments (-€32,867)
- Tangible fixed assets -€50,954
down €50,954 (-3.5%), from €1.4m to €1.4m
- Current investments +€32,867
up €32,867 (+4.8%), from €680,413 to €713,280
- Reserves -€54,215
down €54,215 (-2.4%), from €2.3m to €2.2m
- Gross operating margin -€100,775
down €100,775 (-98.7%), from €102,097 to €1,322
- Financial charges +€21,516
up €21,516 (+346%), from €6,226 to €27,742
of which Non-recurring financial charges: +€12,099
- Financial income +€14,036
up €14,036 (+47.1%), from €29,797 to €43,834
of which Financial income: +€8,331
- Staff costs -€8,010
down €8,010 (-40.0%), from €20,018 to €12,008
- Other operating charges +€3,001
up €3,001 (+62.1%), from €4,829 to €7,829
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 | €2,391,430 | €2,336,746 | -€54,684 | -2.3% |
| Fixed assets | 21/28 | €1,437,931 | €1,386,977 | -€50,954 | -3.5% |
| Tangible fixed assets | 22/27 | €1,437,880 | €1,386,926 | -€50,954 | -3.5% |
| Land and buildings | 22 | €1,437,880 | €1,386,926 | -€50,954 | -3.5% |
| Financial fixed assets | 28 | €51 | €51 | = | 0.0% |
| Current assets | 29/58 | €953,499 | €949,768 | -€3,731 | -0.4% |
| Amounts receivable within one year | 40/41 | €14,914 | €29,255 | +€14,341 | +96.2% |
| Trade receivables | 40 | €261 | €0 | -€261 | -100% |
| Other amounts receivable | 41 | €14,653 | €29,255 | +€14,602 | +99.7% |
| Current investments | 50/53 | €680,413 | €713,280 | +€32,867 | +4.8% |
| Cash at bank and in hand | 54/58 | €253,668 | €201,367 | -€52,301 | -20.6% |
| Deferred charges and accrued income | 490/1 | €4,504 | €5,866 | +€1,362 | +30.2% |
| Total equity and liabilities | 10/49 | €2,391,430 | €2,336,746 | -€54,684 | -2.3% |
| Equity | 10/15 | €2,385,585 | €2,330,763 | -€54,821 | -2.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €2,268,615 | €2,214,400 | -€54,215 | -2.4% |
| Distributable reserves | 133 | €2,268,615 | €2,214,400 | -€54,215 | -2.4% |
| Investment grants | 15 | €16,970 | €16,364 | -€606 | -3.6% |
| Amounts payable | 17/49 | €5,845 | €5,982 | +€137 | +2.3% |
| Amounts payable after more than one year | 17 | €2,160 | €2,160 | = | 0.0% |
| Other amounts payable | 178/9 | €2,160 | €2,160 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,685 | €3,724 | +€39 | +1.0% |
| Trade debts | 44 | €1,163 | €2,839 | +€1,676 | +144% |
| Suppliers | 440/4 | €1,163 | €2,839 | +€1,676 | +144% |
| Taxes, remuneration and social security | 45 | €2,522 | €885 | -€1,637 | -64.9% |
| Taxes | 450/3 | €527 | €553 | +€26 | +5.0% |
| Remuneration and social security | 454/9 | €1,996 | €332 | -€1,664 | -83.4% |
| Accrued charges and deferred income | 492/3 | - | €98 | +€98 | |
| Non-recurring operating income | 76A | €109,850 | €0 | -€109,850 | -100% |
| Remuneration, social security and pensions | 62 | €20,018 | €12,008 | -€8,010 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,889 | €50,954 | +€65 | +0.1% |
| Other operating charges | 640/8 | €4,829 | €7,829 | +€3,001 | +62.1% |
| Gross operating margin | 9900 | €102,097 | €1,322 | -€100,775 | -98.7% |
| Operating profit (loss) | 9901 | €26,362 | -€69,469 | -€95,831 | |
| Financial income | 75/76B | €29,797 | €43,834 | +€14,036 | +47.1% |
| Recurring financial income | 75 | €17,938 | €26,268 | +€8,331 | +46.4% |
| Non-recurring financial income | 76B | €11,860 | €17,565 | +€5,705 | +48.1% |
| Financial charges | 65/66B | €6,226 | €27,742 | +€21,516 | +346% |
| Recurring financial charges | 65 | €2,378 | €11,795 | +€9,417 | +396% |
| Non-recurring financial charges | 66B | €3,849 | €15,948 | +€12,099 | +314% |
| Profit (loss) for the period before taxes | 9903 | €49,933 | -€53,378 | -€103,310 | |
| Income taxes | 67/77 | €845 | €838 | -€8 | -0.9% |
| Profit (loss) for the period | 9904 | €49,088 | -€54,215 | -€103,303 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,088 | -€54,215 | -€103,303 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.