KEDALI: 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.
KEDALI
Largest movements
- Cash +€12,358
up €12,358 (+38.7%), from €31,928 to €44,286
mainly Net result for the year (+€43,459) and Depreciation (+€17,133)
- Stocks and contracts +€3,604
up €3,604 (+88.2%), from €4,086 to €7,690
- Receivables within one year +€3,327
up €3,327 (+63.5%), from €5,240 to €8,567
of which Trade receivables: +€7,846
- Profit (loss) carried forward +€43,459
up €43,459 (+103%), from €42,022 to €85,481
- Other debts -€14,750
down €14,750 (-87.2%), from €16,913 to €2,163
- Debts after one year -€7,777
down €7,777 (-26.3%), from €29,563 to €21,786
- Gross operating margin +€10,635
up €10,635 (+16.7%), from €63,753 to €74,388
- Depreciation +€6,980
up €6,980 (+68.7%), from €10,153 to €17,133
- Taxes +€791
up €791 (+7.4%), from €10,648 to €11,439
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 | €110,738 | €130,466 | +€19,728 | +17.8% |
| Fixed assets | 21/28 | €68,635 | €69,431 | +€796 | +1.2% |
| Tangible fixed assets | 22/27 | €68,635 | €69,431 | +€796 | +1.2% |
| Plant, machinery and equipment | 23 | €17,205 | €21,378 | +€4,173 | +24.3% |
| Furniture and vehicles | 24 | €51,430 | €39,822 | -€11,608 | -22.6% |
| Other tangible fixed assets | 26 | - | €8,231 | +€8,231 | |
| Current assets | 29/58 | €42,103 | €61,035 | +€18,932 | +45.0% |
| Stocks and contracts in progress | 3 | €4,086 | €7,690 | +€3,604 | +88.2% |
| Stocks | 30/36 | €4,086 | €7,690 | +€3,604 | +88.2% |
| Amounts receivable within one year | 40/41 | €5,240 | €8,567 | +€3,327 | +63.5% |
| Trade receivables | 40 | €503 | €8,348 | +€7,846 | +1,561% |
| Other amounts receivable | 41 | €4,737 | €219 | -€4,518 | -95.4% |
| Cash at bank and in hand | 54/58 | €31,928 | €44,286 | +€12,358 | +38.7% |
| Deferred charges and accrued income | 490/1 | €850 | €492 | -€357 | -42.1% |
| Total equity and liabilities | 10/49 | €110,738 | €130,466 | +€19,728 | +17.8% |
| Equity | 10/15 | €47,022 | €90,481 | +€43,459 | +92.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,022 | €85,481 | +€43,459 | +103% |
| Amounts payable | 17/49 | €63,716 | €39,985 | -€23,731 | -37.2% |
| Amounts payable after more than one year | 17 | €29,563 | €21,786 | -€7,777 | -26.3% |
| Financial debts | 170/4 | €29,563 | €21,786 | -€7,777 | -26.3% |
| Amounts payable within one year | 42/48 | €33,578 | €18,200 | -€15,378 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €7,436 | €7,777 | +€342 | +4.6% |
| Trade debts | 44 | €4,964 | €4,634 | -€330 | -6.6% |
| Suppliers | 440/4 | €4,964 | €4,634 | -€330 | -6.6% |
| Taxes, remuneration and social security | 45 | €4,265 | €3,625 | -€640 | -15.0% |
| Taxes | 450/3 | €4,265 | €3,625 | -€640 | -15.0% |
| Other amounts payable | 47/48 | €16,913 | €2,163 | -€14,750 | -87.2% |
| Accrued charges and deferred income | 492/3 | €575 | - | -€575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,153 | €17,133 | +€6,980 | +68.7% |
| Other operating charges | 640/8 | €747 | €1,163 | +€416 | +55.8% |
| Gross operating margin | 9900 | €63,753 | €74,388 | +€10,635 | +16.7% |
| Operating profit (loss) | 9901 | €52,853 | €56,092 | +€3,239 | +6.1% |
| Financial income | 75/76B | €848 | €505 | -€343 | -40.4% |
| Recurring financial income | 75 | €848 | €505 | -€343 | -40.4% |
| Financial charges | 65/66B | €1,032 | €1,700 | +€668 | +64.7% |
| Recurring financial charges | 65 | €1,032 | €1,700 | +€668 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | €52,670 | €54,898 | +€2,228 | +4.2% |
| Income taxes | 67/77 | €10,648 | €11,439 | +€791 | +7.4% |
| Profit (loss) for the period | 9904 | €42,022 | €43,459 | +€1,437 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,022 | €43,459 | +€1,437 | +3.4% |
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 14 October 2026 via checked.be.