KARDECO: 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.
KARDECO
Largest movements
- Receivables within one year -€12,448
down €12,448 (-5.0%), from €247,711 to €235,263
of which Other amounts receivable: -€24,211
- Accrued charges and deferred income +€40,973
up €40,973 (+13,027%), from €315 to €41,288
- Reserves -€34,208
no longer reported in 2025 (was €34,208)
- Profit (loss) carried forward -€17,914
new in 2025: -€17,914
- Tax, wage and social debts -€11,658
no longer reported in 2025 (was €11,658)
- Trade debts +€9,353
up €9,353 (+26.4%), from €35,364 to €44,717
- Gross operating margin -€65,939
down €65,939, from €25,222 to -€40,718
- Financial charges -€6,393
down €6,393 (-34.4%), from €18,581 to €12,188
- Taxes -€1,594
no longer reported in 2025 (was €1,594)
- Financial income +€1,425
up €1,425 (+286%), from €499 to €1,924
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 | €351,364 | €338,496 | -€12,868 | -3.7% |
| Fixed assets | 21/28 | €6,007 | €5,386 | -€621 | -10.3% |
| Intangible fixed assets | 21 | €2,346 | €1,786 | -€560 | -23.9% |
| Tangible fixed assets | 22/27 | €61 | - | -€61 | |
| Furniture and vehicles | 24 | €61 | - | -€61 | |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €345,357 | €333,110 | -€12,247 | -3.5% |
| Amounts receivable within one year | 40/41 | €247,711 | €235,263 | -€12,448 | -5.0% |
| Trade receivables | 40 | €221,694 | €233,456 | +€11,762 | +5.3% |
| Other amounts receivable | 41 | €26,018 | €1,807 | -€24,211 | -93.1% |
| Cash at bank and in hand | 54/58 | €96,110 | €96,219 | +€110 | +0.1% |
| Deferred charges and accrued income | 490/1 | €1,536 | €1,627 | +€92 | +6.0% |
| Total equity and liabilities | 10/49 | €351,364 | €338,496 | -€12,868 | -3.7% |
| Equity | 10/15 | €52,800 | €678 | -€52,122 | -98.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €34,208 | - | -€34,208 | |
| Distributable reserves | 133 | €34,208 | - | -€34,208 | |
| Profit (loss) carried forward | 14 | - | -€17,914 | -€17,914 | |
| Amounts payable | 17/49 | €298,564 | €337,818 | +€39,254 | +13.1% |
| Amounts payable within one year | 42/48 | €298,250 | €296,531 | -€1,719 | -0.6% |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €35,364 | €44,717 | +€9,353 | +26.4% |
| Suppliers | 440/4 | €35,364 | €44,717 | +€9,353 | +26.4% |
| Taxes, remuneration and social security | 45 | €11,658 | - | -€11,658 | |
| Taxes | 450/3 | €11,658 | - | -€11,658 | |
| Other amounts payable | 47/48 | €1,228 | €1,814 | +€586 | +47.7% |
| Accrued charges and deferred income | 492/3 | €315 | €41,288 | +€40,973 | +13,027% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €552 | €621 | +€69 | +12.6% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €25,222 | -€40,718 | -€65,939 | |
| Operating profit (loss) | 9901 | €24,165 | -€41,858 | -€66,023 | |
| Financial income | 75/76B | €499 | €1,924 | +€1,425 | +286% |
| Recurring financial income | 75 | €499 | €1,924 | +€1,425 | +286% |
| Financial charges | 65/66B | €18,581 | €12,188 | -€6,393 | -34.4% |
| Recurring financial charges | 65 | €18,581 | €12,188 | -€6,393 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €6,082 | -€52,122 | -€58,204 | |
| Income taxes | 67/77 | €1,594 | - | -€1,594 | |
| Profit (loss) for the period | 9904 | €4,489 | -€52,122 | -€56,611 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,489 | -€52,122 | -€56,611 |
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 18 October 2026 via checked.be.