KARDEMOM: 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.
KARDEMOM
Largest movements
- Cash -€91,866
down €91,866 (-45.1%), from €203,873 to €112,007
mainly Other debts (-€122,711) and Receivables within one year (-€28,839)
- Intangible fixed assets -€31,429
down €31,429 (-100%), from €31,429 to €0
- Receivables within one year +€28,839
up €28,839 (+101%), from €28,615 to €57,455
of which Trade receivables: +€32,292
- Tangible fixed assets -€24,864
down €24,864 (-23.9%), from €103,927 to €79,064
of which Furniture and vehicles: -€20,099
- Stocks and contracts +€22,868
up €22,868 (+42.4%), from €53,898 to €76,766
- Other debts -€122,711
down €122,711 (-98.0%), from €125,237 to €2,527
- Reserves +€35,783
up €35,783 (+31.5%), from €113,738 to €149,520
- Trade debts +€26,944
up €26,944 (+85.2%), from €31,608 to €58,552
- Debts after one year -€21,304
down €21,304 (-28.9%), from €73,619 to €52,315
- Tax, wage and social debts -€6,975
down €6,975 (-31.9%), from €21,874 to €14,899
of which Taxes: -€3,762
- Gross operating margin +€25,765
up €25,765 (+16.7%), from €153,985 to €179,750
- Taxes +€4,405
up €4,405 (+40.8%), from €10,809 to €15,214
- Depreciation +€4,313
up €4,313 (+8.3%), from €51,979 to €56,293
- Staff costs +€3,466
up €3,466 (+5.7%), from €60,906 to €64,372
- Write-downs +€2,475
up €2,475, from €0 to €2,475
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €422,512 | €327,209 | -€95,302 | -22.6% |
| Fixed assets | 21/28 | €135,456 | €79,064 | -€56,393 | -41.6% |
| Intangible fixed assets | 21 | €31,429 | €0 | -€31,429 | -100% |
| Tangible fixed assets | 22/27 | €103,927 | €79,064 | -€24,864 | -23.9% |
| Land and buildings | 22 | €6,027 | €3,669 | -€2,358 | -39.1% |
| Plant, machinery and equipment | 23 | €8,234 | €5,827 | -€2,407 | -29.2% |
| Furniture and vehicles | 24 | €89,667 | €69,568 | -€20,099 | -22.4% |
| Financial fixed assets | 28 | €100 | €0 | -€100 | -100% |
| Current assets | 29/58 | €287,055 | €248,146 | -€38,910 | -13.6% |
| Stocks and contracts in progress | 3 | €53,898 | €76,766 | +€22,868 | +42.4% |
| Stocks | 30/36 | €53,898 | €76,766 | +€22,868 | +42.4% |
| Amounts receivable within one year | 40/41 | €28,615 | €57,455 | +€28,839 | +101% |
| Trade receivables | 40 | €23,436 | €55,728 | +€32,292 | +138% |
| Other amounts receivable | 41 | €5,180 | €1,727 | -€3,453 | -66.7% |
| Cash at bank and in hand | 54/58 | €203,873 | €112,007 | -€91,866 | -45.1% |
| Deferred charges and accrued income | 490/1 | €669 | €1,918 | +€1,249 | +187% |
| Total equity and liabilities | 10/49 | €422,512 | €327,209 | -€95,302 | -22.6% |
| Equity | 10/15 | €132,338 | €168,120 | +€35,783 | +27.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €113,738 | €149,520 | +€35,783 | +31.5% |
| Distributable reserves | 133 | €113,738 | €149,520 | +€35,783 | +31.5% |
| Amounts payable | 17/49 | €290,174 | €159,089 | -€131,085 | -45.2% |
| Amounts payable after more than one year | 17 | €73,619 | €52,315 | -€21,304 | -28.9% |
| Financial debts | 170/4 | €73,619 | €52,315 | -€21,304 | -28.9% |
| Amounts payable within one year | 42/48 | €201,095 | €97,281 | -€103,814 | -51.6% |
| Current portion of amounts payable after more than one year | 42 | €22,376 | €21,304 | -€1,072 | -4.8% |
| Trade debts | 44 | €31,608 | €58,552 | +€26,944 | +85.2% |
| Suppliers | 440/4 | €31,608 | €58,552 | +€26,944 | +85.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €21,874 | €14,899 | -€6,975 | -31.9% |
| Taxes | 450/3 | €10,219 | €6,457 | -€3,762 | -36.8% |
| Remuneration and social security | 454/9 | €11,655 | €8,442 | -€3,212 | -27.6% |
| Other amounts payable | 47/48 | €125,237 | €2,527 | -€122,711 | -98.0% |
| Accrued charges and deferred income | 492/3 | €15,459 | €9,492 | -€5,967 | -38.6% |
| Remuneration, social security and pensions | 62 | €60,906 | €64,372 | +€3,466 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,979 | €56,293 | +€4,313 | +8.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €2,475 | +€2,475 | |
| Other operating charges | 640/8 | €1,100 | €1,048 | -€51 | -4.7% |
| Gross operating margin | 9900 | €153,985 | €179,750 | +€25,765 | +16.7% |
| Operating profit (loss) | 9901 | €40,000 | €55,562 | +€15,562 | +38.9% |
| Financial income | 75/76B | €294 | €500 | +€206 | +69.9% |
| Recurring financial income | 75 | €294 | €500 | +€206 | +69.9% |
| Financial charges | 65/66B | €4,088 | €5,065 | +€978 | +23.9% |
| Recurring financial charges | 65 | €4,088 | €5,065 | +€978 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €36,207 | €50,997 | +€14,790 | +40.8% |
| Income taxes | 67/77 | €10,809 | €15,214 | +€4,405 | +40.8% |
| Profit (loss) for the period | 9904 | €25,398 | €35,783 | +€10,384 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,398 | €35,783 | +€10,384 | +40.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.