Kedeco: 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.
Kedeco
Largest movements
- Current investments -€79,973
down €79,973 (-28.6%), from €280,000 to €200,027
- Receivables within one year -€20,635
down €20,635 (-52.7%), from €39,134 to €18,499
of which Trade receivables: -€23,155
- Cash +€16,042
up €16,042 (+27.1%), from €59,288 to €75,330
mainly Current investments (+€79,973) and Other debts (+€67,704)
- Tangible fixed assets -€7,595
down €7,595 (-80.8%), from €9,395 to €1,800
of which Furniture and vehicles: -€6,995
- Reserves -€142,101
down €142,101 (-39.8%), from €356,691 to €214,590
- Other debts +€67,704
up €67,704 (+483%), from €14,019 to €81,723
- Contributions -€12,399
down €12,399 (-100.0%), from €12,400 to €1
- Gross operating margin -€5,857
down €5,857 (-6.7%), from €87,046 to €81,189
- Financial income +€3,202
up €3,202 (+80.2%), from €3,991 to €7,193
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 | €388,207 | €299,746 | -€88,461 | -22.8% |
| Fixed assets | 21/28 | €9,395 | €1,800 | -€7,595 | -80.8% |
| Tangible fixed assets | 22/27 | €9,395 | €1,800 | -€7,595 | -80.8% |
| Land and buildings | 22 | €2,400 | €1,800 | -€600 | -25.0% |
| Furniture and vehicles | 24 | €6,995 | €0 | -€6,995 | -100% |
| Current assets | 29/58 | €378,812 | €297,946 | -€80,866 | -21.3% |
| Amounts receivable within one year | 40/41 | €39,134 | €18,499 | -€20,635 | -52.7% |
| Trade receivables | 40 | €37,404 | €14,249 | -€23,155 | -61.9% |
| Other amounts receivable | 41 | €1,731 | €4,251 | +€2,520 | +146% |
| Current investments | 50/53 | €280,000 | €200,027 | -€79,973 | -28.6% |
| Cash at bank and in hand | 54/58 | €59,288 | €75,330 | +€16,042 | +27.1% |
| Deferred charges and accrued income | 490/1 | €390 | €4,090 | +€3,699 | +948% |
| Total equity and liabilities | 10/49 | €388,207 | €299,746 | -€88,461 | -22.8% |
| Equity | 10/15 | €369,091 | €214,591 | -€154,500 | -41.9% |
| Contributions | 10/11 | €12,400 | €1 | -€12,399 | -100.0% |
| Reserves | 13 | €356,691 | €214,590 | -€142,101 | -39.8% |
| Distributable reserves | 133 | €356,691 | €214,590 | -€142,101 | -39.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €19,116 | €85,154 | +€66,038 | +345% |
| Amounts payable within one year | 42/48 | €18,602 | €85,154 | +€66,552 | +358% |
| Trade debts | 44 | €1,600 | €2,023 | +€423 | +26.4% |
| Suppliers | 440/4 | €1,600 | €2,023 | +€423 | +26.4% |
| Taxes, remuneration and social security | 45 | €2,984 | €1,409 | -€1,575 | -52.8% |
| Taxes | 450/3 | €2,984 | €1,409 | -€1,575 | -52.8% |
| Other amounts payable | 47/48 | €14,019 | €81,723 | +€67,704 | +483% |
| Accrued charges and deferred income | 492/3 | €514 | €0 | -€514 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,595 | €7,595 | = | 0.0% |
| Other operating charges | 640/8 | €622 | €637 | +€16 | +2.5% |
| Gross operating margin | 9900 | €87,046 | €81,189 | -€5,857 | -6.7% |
| Operating profit (loss) | 9901 | €78,829 | €72,957 | -€5,872 | -7.4% |
| Financial income | 75/76B | €3,991 | €7,193 | +€3,202 | +80.2% |
| Recurring financial income | 75 | €3,991 | €7,193 | +€3,202 | +80.2% |
| Financial charges | 65/66B | €208 | €196 | -€12 | -5.7% |
| Recurring financial charges | 65 | €208 | €196 | -€12 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €82,613 | €79,954 | -€2,659 | -3.2% |
| Income taxes | 67/77 | €18,289 | €17,955 | -€334 | -1.8% |
| Profit (loss) for the period | 9904 | €64,324 | €62,000 | -€2,324 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,324 | €62,000 | -€2,324 | -3.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.