KERDUDAL: 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.
KERDUDAL
Largest movements
- Tangible fixed assets -€10,623
down €10,623 (-73.3%), from €14,487 to €3,864
of which Furniture and vehicles: -€11,191
- Cash +€2,414
up €2,414 (+152.3%), from €1,585 to €3,999
mainly Depreciation (+€12,186) and Net result for the year (+€11,408)
- Receivables within one year -€1,355
down €1,355 (-42.1%), from €3,220 to €1,865
of which Trade receivables: -€1,355
- Deferred charges and accrued income +€250
new in 2025: €250
- Other debts -€20,730
down €20,730 (-48.4%), from €42,795 to €22,065
- Profit (loss) carried forward +€11,408
up €11,408 (+13.1%), from -€87,385 to -€75,977
- Gross operating margin +€22,141
up €22,141 (+3100.6%), from €714 to €22,855
- Financial income +€2,232
up €2,232 (+76699.0%), from €3 to €2,235
of which Non-recurring financial income: +€2,235
- Staff costs +€643
new in 2025: €643
- Depreciation +€330
up €330 (+2.8%), from €11,856 to €12,186
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 | €19,292 | €9,978 | -€9,314 | -48.3% |
| Fixed assets | 21/28 | €14,487 | €3,864 | -€10,623 | -73.3% |
| Tangible fixed assets | 22/27 | €14,487 | €3,864 | -€10,623 | -73.3% |
| Plant, machinery and equipment | 23 | €235 | €803 | +€568 | +241.3% |
| Furniture and vehicles | 24 | €14,252 | €3,061 | -€11,191 | -78.5% |
| Current assets | 29/58 | €4,805 | €6,114 | +€1,309 | +27.2% |
| Amounts receivable within one year | 40/41 | €3,220 | €1,865 | -€1,355 | -42.1% |
| Trade receivables | 40 | €3,206 | €1,851 | -€1,355 | -42.3% |
| Other amounts receivable | 41 | €15 | €15 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,585 | €3,999 | +€2,414 | +152.3% |
| Deferred charges and accrued income | 490/1 | - | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €19,292 | €9,978 | -€9,314 | -48.3% |
| Equity | 10/15 | -€23,817 | -€12,409 | +€11,408 | +47.9% |
| Contributions | 10/11 | €6,693 | €6,693 | = | 0.0% |
| Reserves | 13 | €56,875 | €56,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €54,875 | €54,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,385 | -€75,977 | +€11,408 | +13.1% |
| Amounts payable | 17/49 | €43,109 | €22,387 | -€20,722 | -48.1% |
| Amounts payable within one year | 42/48 | €43,109 | €22,387 | -€20,722 | -48.1% |
| Trade debts | 44 | €314 | €321 | +€8 | +2.5% |
| Suppliers | 440/4 | €314 | €321 | +€8 | +2.5% |
| Other amounts payable | 47/48 | €42,795 | €22,065 | -€20,730 | -48.4% |
| Remuneration, social security and pensions | 62 | - | €643 | +€643 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,856 | €12,186 | +€330 | +2.8% |
| Other operating charges | 640/8 | €704 | €660 | -€44 | -6.3% |
| Gross operating margin | 9900 | €714 | €22,855 | +€22,141 | +3100.6% |
| Operating profit (loss) | 9901 | -€11,846 | €9,366 | +€21,213 | |
| Financial income | 75/76B | €3 | €2,235 | +€2,232 | +76699.0% |
| Recurring financial income | 75 | €3 | €2,235 | +€2,232 | +76699.0% |
| Non-recurring financial income | 76B | - | €2,235 | +€2,235 | |
| Financial charges | 65/66B | €199 | €193 | -€6 | -3.1% |
| Recurring financial charges | 65 | €199 | €193 | -€6 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,043 | €11,408 | +€23,451 | |
| Profit (loss) for the period | 9904 | -€12,043 | €11,408 | +€23,451 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,043 | €11,408 | +€23,451 |
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 9 October 2026 via checked.be.