Kardan: 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.
Kardan
Largest movements
- Cash -€40,941
down €40,941 (-57.2%), from €71,629 to €30,688
mainly Contributions, distributions and other (-€52,400) and Other debts (-€50,189)
- Receivables within one year +€3,440
up €3,440 (+16.7%), from €20,658 to €24,098
of which Trade receivables: +€6,470
- Tangible fixed assets -€1,139
down €1,139 (-10.2%), from €11,177 to €10,038
of which Leasing and similar rights: -€3,496
- Other debts -€50,189
down €50,189 (-52.2%), from €96,103 to €45,914
- Trade debts +€8,409
up €8,409 (+782%), from €1,076 to €9,485
- Reserves +€2,134
up €2,134 (+665%), from €321 to €2,455
- Gross operating margin +€1,562
up €1,562 (+2.1%), from €76,164 to €77,726
- Depreciation -€996
down €996 (-15.0%), from €6,626 to €5,630
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 | €108,639 | €70,041 | -€38,597 | -35.5% |
| Fixed assets | 21/28 | €11,177 | €10,038 | -€1,139 | -10.2% |
| Tangible fixed assets | 22/27 | €11,177 | €10,038 | -€1,139 | -10.2% |
| Plant, machinery and equipment | 23 | €701 | - | -€701 | |
| Furniture and vehicles | 24 | €1,745 | €4,803 | +€3,058 | +175% |
| Leasing and similar rights | 25 | €8,731 | €5,235 | -€3,496 | -40.0% |
| Current assets | 29/58 | €97,462 | €60,004 | -€37,458 | -38.4% |
| Amounts receivable within one year | 40/41 | €20,658 | €24,098 | +€3,440 | +16.7% |
| Trade receivables | 40 | €16,413 | €22,884 | +€6,470 | +39.4% |
| Other amounts receivable | 41 | €4,245 | €1,215 | -€3,031 | -71.4% |
| Cash at bank and in hand | 54/58 | €71,629 | €30,688 | -€40,941 | -57.2% |
| Deferred charges and accrued income | 490/1 | €5,174 | €5,218 | +€44 | +0.8% |
| Total equity and liabilities | 10/49 | €108,639 | €70,041 | -€38,597 | -35.5% |
| Equity | 10/15 | €1,521 | €3,655 | +€2,134 | +140% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €321 | €2,455 | +€2,134 | +665% |
| Distributable reserves | 133 | €321 | €2,455 | +€2,134 | +665% |
| Amounts payable | 17/49 | €107,118 | €66,387 | -€40,731 | -38.0% |
| Amounts payable within one year | 42/48 | €107,118 | €65,953 | -€41,165 | -38.4% |
| Trade debts | 44 | €1,076 | €9,485 | +€8,409 | +782% |
| Suppliers | 440/4 | €1,076 | €9,485 | +€8,409 | +782% |
| Taxes, remuneration and social security | 45 | €9,940 | €10,554 | +€615 | +6.2% |
| Taxes | 450/3 | €9,940 | €10,554 | +€615 | +6.2% |
| Other amounts payable | 47/48 | €96,103 | €45,914 | -€50,189 | -52.2% |
| Accrued charges and deferred income | 492/3 | - | €433 | +€433 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,626 | €5,630 | -€996 | -15.0% |
| Other operating charges | 640/8 | €858 | €1,538 | +€680 | +79.3% |
| Gross operating margin | 9900 | €76,164 | €77,726 | +€1,562 | +2.1% |
| Operating profit (loss) | 9901 | €68,680 | €70,558 | +€1,878 | +2.7% |
| Financial income | 75/76B | €245 | - | -€245 | |
| Recurring financial income | 75 | €245 | - | -€245 | |
| Financial charges | 65/66B | €585 | €269 | -€316 | -54.0% |
| Recurring financial charges | 65 | €585 | €269 | -€316 | -54.0% |
| Profit (loss) for the period before taxes | 9903 | €68,341 | €70,289 | +€1,948 | +2.9% |
| Income taxes | 67/77 | €15,037 | €15,755 | +€718 | +4.8% |
| Profit (loss) for the period | 9904 | €53,304 | €54,534 | +€1,230 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,304 | €54,534 | +€1,230 | +2.3% |
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 17 October 2026 via checked.be.