KEDON: 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.
KEDON
Largest movements
- Tangible fixed assets -€8,000
down €8,000 (-2.5%), from €324,000 to €316,000
- Debts after one year -€17,370
down €17,370 (-15.7%), from €110,493 to €93,123
- Reserves +€10,000
up €10,000 (+14.2%), from €70,646 to €80,646
of which Distributable reserves: +€10,000
- Tax, wage and social debts -€4,004
down €4,004 (-36.7%), from €10,908 to €6,903
- Financial charges -€392
down €392 (-11.9%), from €3,300 to €2,908
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 | €371,760 | €360,783 | -€10,977 | -3.0% |
| Fixed assets | 21/28 | €324,000 | €316,000 | -€8,000 | -2.5% |
| Tangible fixed assets | 22/27 | €324,000 | €316,000 | -€8,000 | -2.5% |
| Land and buildings | 22 | €324,000 | €316,000 | -€8,000 | -2.5% |
| Current assets | 29/58 | €47,760 | €44,783 | -€2,977 | -6.2% |
| Amounts receivable within one year | 40/41 | €36,300 | €36,300 | = | 0.0% |
| Trade receivables | 40 | €36,300 | €36,300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,460 | €8,483 | -€2,977 | -26.0% |
| Total equity and liabilities | 10/49 | €371,760 | €360,783 | -€10,977 | -3.0% |
| Equity | 10/15 | €95,646 | €105,646 | +€10,000 | +10.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €70,646 | €80,646 | +€10,000 | +14.2% |
| Non-distributable reserves | 130/1 | €398 | €398 | = | 0.0% |
| Legal reserve | 130 | €398 | €398 | = | 0.0% |
| Distributable reserves | 133 | €70,249 | €80,248 | +€10,000 | +14.2% |
| Amounts payable | 17/49 | €276,113 | €255,137 | -€20,977 | -7.6% |
| Amounts payable after more than one year | 17 | €110,493 | €93,123 | -€17,370 | -15.7% |
| Financial debts | 170/4 | €110,493 | €93,123 | -€17,370 | -15.7% |
| Amounts payable within one year | 42/48 | €135,620 | €132,013 | -€3,607 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €16,973 | €17,370 | +€397 | +2.3% |
| Trade debts | 44 | €325 | €325 | +€1 | +0.2% |
| Suppliers | 440/4 | €325 | €325 | +€1 | +0.2% |
| Taxes, remuneration and social security | 45 | €10,908 | €6,903 | -€4,004 | -36.7% |
| Taxes | 450/3 | €10,908 | €6,903 | -€4,004 | -36.7% |
| Other amounts payable | 47/48 | €107,415 | €107,415 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €30,000 | €30,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,000 | €8,000 | = | 0.0% |
| Other operating charges | 640/8 | €2,198 | €2,261 | +€64 | +2.9% |
| Gross operating margin | 9900 | €27,849 | €27,835 | -€13 | 0.0% |
| Operating profit (loss) | 9901 | €17,651 | €17,574 | -€77 | -0.4% |
| Financial charges | 65/66B | €3,300 | €2,908 | -€392 | -11.9% |
| Recurring financial charges | 65 | €3,300 | €2,908 | -€392 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €14,351 | €14,666 | +€315 | +2.2% |
| Income taxes | 67/77 | €4,860 | €4,666 | -€193 | -4.0% |
| Profit (loss) for the period | 9904 | €9,491 | €10,000 | +€508 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,491 | €10,000 | +€508 | +5.4% |
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 7 October 2026 via checked.be.