KAMDAK: 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.
KAMDAK
Largest movements
- Receivables within one year -€24,443
down €24,443 (-34.1%), from €71,595 to €47,152
of which Trade receivables: -€47,093
- Cash +€9,190
up €9,190 (+186%), from €4,935 to €14,126
mainly Trade debts (+€76,171) and Other debts (+€46,446)
- Reserves -€114,712
down €114,712 (-62.7%), from €183,096 to €68,384
- Trade debts +€76,171
up €76,171 (+22,035%), from €346 to €76,517
- Other debts +€46,446
up €46,446 (+639%), from €7,267 to €53,713
- Debts after one year -€16,328
no longer reported in 2025 (was €16,328)
- Current portion of long-term debt -€5,138
down €5,138 (-23.9%), from €21,467 to €16,328
- Gross operating margin -€76,090
down €76,090 (-87.3%), from €87,186 to €11,096
- Taxes -€17,289
down €17,289 (-89.7%), from €19,265 to €1,975
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 | €293,030 | €277,784 | -€15,246 | -5.2% |
| Fixed assets | 21/28 | €216,500 | €216,500 | = | 0.0% |
| Financial fixed assets | 28 | €216,500 | €216,500 | = | 0.0% |
| Current assets | 29/58 | €76,530 | €61,284 | -€15,246 | -19.9% |
| Amounts receivable within one year | 40/41 | €71,595 | €47,152 | -€24,443 | -34.1% |
| Trade receivables | 40 | €71,595 | €24,503 | -€47,093 | -65.8% |
| Other amounts receivable | 41 | - | €22,650 | +€22,650 | |
| Cash at bank and in hand | 54/58 | €4,935 | €14,126 | +€9,190 | +186% |
| Deferred charges and accrued income | 490/1 | - | €6 | +€6 | |
| Total equity and liabilities | 10/49 | €293,030 | €277,784 | -€15,246 | -5.2% |
| Equity | 10/15 | €221,096 | €106,384 | -€114,712 | -51.9% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €183,096 | €68,384 | -€114,712 | -62.7% |
| Distributable reserves | 133 | €183,096 | €68,384 | -€114,712 | -62.7% |
| Amounts payable | 17/49 | €71,935 | €171,400 | +€99,465 | +138% |
| Amounts payable after more than one year | 17 | €16,328 | - | -€16,328 | |
| Financial debts | 170/4 | €16,328 | - | -€16,328 | |
| Amounts payable within one year | 42/48 | €53,778 | €169,573 | +€115,795 | +215% |
| Current portion of amounts payable after more than one year | 42 | €21,467 | €16,328 | -€5,138 | -23.9% |
| Trade debts | 44 | €346 | €76,517 | +€76,171 | +22,035% |
| Suppliers | 440/4 | €346 | €76,517 | +€76,171 | +22,035% |
| Taxes, remuneration and social security | 45 | €24,698 | €23,015 | -€1,684 | -6.8% |
| Taxes | 450/3 | €21,999 | €20,333 | -€1,667 | -7.6% |
| Remuneration and social security | 454/9 | €2,699 | €2,682 | -€17 | -0.6% |
| Other amounts payable | 47/48 | €7,267 | €53,713 | +€46,446 | +639% |
| Accrued charges and deferred income | 492/3 | €1,828 | €1,827 | -€1 | -0.1% |
| Other operating charges | 640/8 | €558 | €520 | -€39 | -6.9% |
| Gross operating margin | 9900 | €87,186 | €11,096 | -€76,090 | -87.3% |
| Operating profit (loss) | 9901 | €86,627 | €10,576 | -€76,051 | -87.8% |
| Financial income | 75/76B | €1 | €22 | +€21 | +2,956% |
| Recurring financial income | 75 | €1 | €22 | +€21 | +2,956% |
| Financial charges | 65/66B | €1,070 | €721 | -€349 | -32.6% |
| Recurring financial charges | 65 | €1,070 | €721 | -€349 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €85,558 | €9,877 | -€75,681 | -88.5% |
| Income taxes | 67/77 | €19,265 | €1,975 | -€17,289 | -89.7% |
| Profit (loss) for the period | 9904 | €66,294 | €7,902 | -€58,392 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €66,294 | €7,902 | -€58,392 | -88.1% |
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 15 October 2026 via checked.be.