KARDIMMO: what changed
Two fiscal 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.
What changed
KARDIMMO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€22,969
2024 · -€28,121+€5,152
Equity
€2.1m
2024 · €2.0m+€107,544
Cash
€44,997
2024 · €32,841+€12,156
Balance sheet total
€3.3m
2024 · €3.5m-€165,020
Largest movements
Assets
- Tangible fixed assets -€175,549
down €175,549 (-5.6%), from €3.1m to €3.0m
of which Land and buildings: -€175,549
Equity and liabilities
- Provisions -€158,110
down €158,110 (-21.3%), from €740,915 to €582,805
- Debts after one year -€112,089
down €112,089 (-23.4%), from €478,846 to €366,757
- Reserves +€107,544
up €107,544 (+5.5%), from €2.0m to €2.1m
of which Distributable reserves: +€59,823
Income statement
- Gross operating margin +€21,902
up €21,902 (+13.7%), from €159,414 to €181,316
- Taxes +€7,274
up €7,274 (+34.7%), from €20,991 to €28,265
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.
Result 2024
-€28,121
Gross operating margin
+€21,902
Depreciation
-€67
Other operating charges
-€1,219
Financial income
+€61
Financial charges
+€1,656
Taxes
-€7,274
Deferred taxes and other
-€9,907
Result 2025
-€22,969
Cash bridge derived
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.
From operations
-€8,027
Investment
€0
Financing
+€20,183
Cash 2024
€32,841
From operations (derived)
-€8,027
Net result for the year
-€22,969
Depreciation
+€175,549
Receivables within one year
+€2,255
Deferred charges and accrued income
-€629
Provisions
-€158,110
Trade debts
-€1,240
Other debts
-€2,883
Financing
+€20,183
Debts after one year
-€112,089
Current portion of long-term debt
+€1,759
Contributions, distributions and other
+€130,513
Cash 2025
€44,997
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,460,951 | €3,295,931 | -€165,020 | -4.8% |
| Fixed assets | 21/28 | €3,149,914 | €2,974,364 | -€175,549 | -5.6% |
| Tangible fixed assets | 22/27 | €3,149,914 | €2,974,364 | -€175,549 | -5.6% |
| Land and buildings | 22 | €3,139,914 | €2,964,364 | -€175,549 | -5.6% |
| Furniture and vehicles | 24 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €311,038 | €321,567 | +€10,530 | +3.4% |
| Stocks and contracts in progress | 3 | €256,187 | €256,187 | = | 0.0% |
| Stocks | 30/36 | €256,187 | €256,187 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,010 | €19,754 | -€2,255 | -10.2% |
| Other amounts receivable | 41 | €22,010 | €19,754 | -€2,255 | -10.2% |
| Cash at bank and in hand | 54/58 | €32,841 | €44,997 | +€12,156 | +37.0% |
| Deferred charges and accrued income | 490/1 | - | €629 | +€629 | |
| Total equity and liabilities | 10/49 | €3,460,951 | €3,295,931 | -€165,020 | -4.8% |
| Equity | 10/15 | €2,018,318 | €2,125,862 | +€107,544 | +5.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,956,318 | €2,063,862 | +€107,544 | +5.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,700,694 | €1,748,415 | +€47,721 | +2.8% |
| Distributable reserves | 133 | €249,424 | €309,247 | +€59,823 | +24.0% |
| Provisions and deferred taxes | 16 | €740,915 | €582,805 | -€158,110 | -21.3% |
| Deferred taxes | 168 | €740,915 | €582,805 | -€158,110 | -21.3% |
| Amounts payable | 17/49 | €701,718 | €587,265 | -€114,453 | -16.3% |
| Amounts payable after more than one year | 17 | €478,846 | €366,757 | -€112,089 | -23.4% |
| Financial debts | 170/4 | €478,846 | €366,757 | -€112,089 | -23.4% |
| Amounts payable within one year | 42/48 | €222,871 | €220,508 | -€2,364 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €110,330 | €112,089 | +€1,759 | +1.6% |
| Trade debts | 44 | €1,240 | - | -€1,240 | |
| Suppliers | 440/4 | €1,240 | - | -€1,240 | |
| Other amounts payable | 47/48 | €111,301 | €108,418 | -€2,883 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,483 | €175,549 | +€67 | 0.0% |
| Other operating charges | 640/8 | €18,195 | €19,414 | +€1,219 | +6.7% |
| Gross operating margin | 9900 | €159,414 | €181,316 | +€21,902 | +13.7% |
| Operating profit (loss) | 9901 | -€34,264 | -€13,647 | +€20,617 | +60.2% |
| Financial income | 75/76B | €2 | €63 | +€61 | +3568.6% |
| Recurring financial income | 75 | €2 | €63 | +€61 | +3568.6% |
| Financial charges | 65/66B | €10,374 | €8,718 | -€1,656 | -16.0% |
| Recurring financial charges | 65 | €10,374 | €8,718 | -€1,656 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | -€44,636 | -€22,302 | +€22,334 | +50.0% |
| Transfer from deferred taxes | 780 | €37,505 | €27,597 | -€9,907 | -26.4% |
| Income taxes | 67/77 | €20,991 | €28,265 | +€7,274 | +34.7% |
| Profit (loss) for the period | 9904 | -€28,121 | -€22,969 | +€5,152 | +18.3% |
| Transfer from tax-exempt reserves | 789 | €72,836 | €82,792 | +€9,956 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,714 | €59,823 | +€15,108 | +33.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.