KEDIAM: 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.
KEDIAM
Largest movements
- Receivables within one year -€228,738
down €228,738 (-18.2%), from €1.3m to €1.0m
of which Trade receivables: -€353,490
- Profit (loss) carried forward -€263,082
down €263,082 (-63.8%), from -€412,091 to -€675,173
- Gross operating margin -€122,696
down €122,696 (-147.8%), from -€83,025 to -€205,721
- Taxes +€12,215
up €12,215 (+699.4%), from €1,747 to €13,962
- Financial income +€10,757
up €10,757 (+40.4%), from €26,594 to €37,351
- Staff costs +€9,020
up €9,020 (+19.5%), from €46,215 to €55,235
- Financial charges -€3,977
down €3,977 (-23.8%), from €16,738 to €12,761
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,036,338 | €2,788,089 | -€248,249 | -8.2% |
| Fixed assets | 21/28 | €107,841 | €98,952 | -€8,889 | -8.2% |
| Tangible fixed assets | 22/27 | €107,321 | €98,432 | -€8,889 | -8.3% |
| Land and buildings | 22 | €94,026 | €87,865 | -€6,161 | -6.6% |
| Plant, machinery and equipment | 23 | €8,774 | €7,328 | -€1,446 | -16.5% |
| Furniture and vehicles | 24 | €4,520 | €3,238 | -€1,282 | -28.4% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €2,928,498 | €2,689,137 | -€239,361 | -8.2% |
| Stocks and contracts in progress | 3 | €1,654,820 | €1,627,458 | -€27,362 | -1.7% |
| Stocks | 30/36 | €1,654,820 | €1,627,458 | -€27,362 | -1.7% |
| Amounts receivable within one year | 40/41 | €1,253,854 | €1,025,116 | -€228,738 | -18.2% |
| Trade receivables | 40 | €616,011 | €262,521 | -€353,490 | -57.4% |
| Other amounts receivable | 41 | €637,843 | €762,595 | +€124,752 | +19.6% |
| Cash at bank and in hand | 54/58 | €12,570 | €31,402 | +€18,833 | +149.8% |
| Deferred charges and accrued income | 490/1 | €7,254 | €5,161 | -€2,093 | -28.9% |
| Total equity and liabilities | 10/49 | €3,036,338 | €2,788,089 | -€248,249 | -8.2% |
| Equity | 10/15 | €2,366,489 | €2,103,407 | -€263,082 | -11.1% |
| Contributions | 10/11 | €2,268,994 | €2,268,994 | = | 0.0% |
| Reserves | 13 | €509,586 | €509,586 | = | 0.0% |
| Distributable reserves | 133 | €509,586 | €509,586 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€412,091 | -€675,173 | -€263,082 | -63.8% |
| Amounts payable | 17/49 | €669,850 | €684,682 | +€14,832 | +2.2% |
| Amounts payable within one year | 42/48 | €669,773 | €684,589 | +€14,815 | +2.2% |
| Financial debts | 43 | €353 | - | -€353 | |
| Credit institutions | 430/8 | €353 | - | -€353 | |
| Trade debts | 44 | €633,087 | €647,641 | +€14,554 | +2.3% |
| Suppliers | 440/4 | €633,087 | €647,641 | +€14,554 | +2.3% |
| Taxes, remuneration and social security | 45 | €36,333 | €36,948 | +€614 | +1.7% |
| Taxes | 450/3 | €23,005 | €26,168 | +€3,163 | +13.7% |
| Remuneration and social security | 454/9 | €13,329 | €10,780 | -€2,549 | -19.1% |
| Accrued charges and deferred income | 492/3 | €76 | €93 | +€17 | +22.5% |
| Remuneration, social security and pensions | 62 | €46,215 | €55,235 | +€9,020 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,591 | €8,889 | +€298 | +3.5% |
| Other operating charges | 640/8 | €5,122 | €3,865 | -€1,256 | -24.5% |
| Gross operating margin | 9900 | -€83,025 | -€205,721 | -€122,696 | -147.8% |
| Operating profit (loss) | 9901 | -€142,953 | -€273,710 | -€130,757 | -91.5% |
| Financial income | 75/76B | €26,594 | €37,351 | +€10,757 | +40.4% |
| Recurring financial income | 75 | €26,594 | €37,351 | +€10,757 | +40.4% |
| Financial charges | 65/66B | €16,738 | €12,761 | -€3,977 | -23.8% |
| Recurring financial charges | 65 | €16,738 | €12,761 | -€3,977 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | -€133,097 | -€249,120 | -€116,022 | -87.2% |
| Income taxes | 67/77 | €1,747 | €13,962 | +€12,215 | +699.4% |
| Profit (loss) for the period | 9904 | -€134,844 | -€263,082 | -€128,238 | -95.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€134,844 | -€263,082 | -€128,238 | -95.1% |
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 8 October 2026 via checked.be.