Koda: 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.
Koda
Largest movements
- Tangible fixed assets +€27,949
up €27,949 (+21.1%), from €132,539 to €160,488
of which Furniture and vehicles: +€45,078
- Receivables within one year +€18,596
up €18,596 (+95.5%), from €19,471 to €38,067
of which Trade receivables: +€20,682
- Cash +€6,331
up €6,331 (+12.0%), from €52,624 to €58,955
mainly Net result for the year (+€32,033) and Depreciation (+€21,579)
- Profit (loss) carried forward +€32,033
up €32,033, from -€6,363 to €25,670
- Debts after one year +€12,360
up €12,360 (+10.1%), from €121,963 to €134,323
- Current portion of long-term debt +€10,228
up €10,228 (+47.9%), from €21,356 to €31,584
- Tax, wage and social debts -€6,002
no longer reported in 2025 (was €6,002)
- Trade debts -€3,989
down €3,989 (-39.7%), from €10,046 to €6,057
- Gross operating margin +€58,426
up €58,426 (+230.4%), from €25,356 to €83,782
- Taxes +€11,224
up €11,224 (+8768.8%), from €128 to €11,352
- Other operating charges +€11,017
up €11,017 (+361.9%), from €3,044 to €14,061
- Financial charges -€2,223
down €2,223 (-48.6%), from €4,572 to €2,349
- Depreciation -€2,193
down €2,193 (-9.2%), from €23,772 to €21,579
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 | €284,266 | €332,988 | +€48,722 | +17.1% |
| Fixed assets | 21/28 | €172,539 | €200,488 | +€27,949 | +16.2% |
| Tangible fixed assets | 22/27 | €132,539 | €160,488 | +€27,949 | +21.1% |
| Land and buildings | 22 | €111,601 | €104,460 | -€7,141 | -6.4% |
| Plant, machinery and equipment | 23 | €19,350 | €9,362 | -€9,988 | -51.6% |
| Furniture and vehicles | 24 | €1,588 | €46,666 | +€45,078 | +2838.7% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €111,727 | €132,500 | +€20,773 | +18.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Trade receivables | 290 | €30,000 | €30,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €7,537 | €5,478 | -€2,059 | -27.3% |
| Stocks | 30/36 | €7,537 | €5,478 | -€2,059 | -27.3% |
| Amounts receivable within one year | 40/41 | €19,471 | €38,067 | +€18,596 | +95.5% |
| Trade receivables | 40 | €11,770 | €32,452 | +€20,682 | +175.7% |
| Other amounts receivable | 41 | €7,701 | €5,615 | -€2,086 | -27.1% |
| Cash at bank and in hand | 54/58 | €52,624 | €58,955 | +€6,331 | +12.0% |
| Deferred charges and accrued income | 490/1 | €2,095 | - | -€2,095 | |
| Total equity and liabilities | 10/49 | €284,266 | €332,988 | +€48,722 | +17.1% |
| Equity | 10/15 | €124,899 | €156,932 | +€32,033 | +25.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,662 | €112,662 | = | 0.0% |
| Distributable reserves | 133 | €112,662 | €112,662 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,363 | €25,670 | +€32,033 | |
| Amounts payable | 17/49 | €159,367 | €176,056 | +€16,689 | +10.5% |
| Amounts payable after more than one year | 17 | €121,963 | €134,323 | +€12,360 | +10.1% |
| Financial debts | 170/4 | €121,963 | €134,323 | +€12,360 | +10.1% |
| Amounts payable within one year | 42/48 | €37,404 | €38,994 | +€1,590 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €21,356 | €31,584 | +€10,228 | +47.9% |
| Trade debts | 44 | €10,046 | €6,057 | -€3,989 | -39.7% |
| Suppliers | 440/4 | €10,046 | €6,057 | -€3,989 | -39.7% |
| Taxes, remuneration and social security | 45 | €6,002 | - | -€6,002 | |
| Taxes | 450/3 | €6,002 | - | -€6,002 | |
| Other amounts payable | 47/48 | - | €1,353 | +€1,353 | |
| Accrued charges and deferred income | 492/3 | - | €2,739 | +€2,739 | |
| Remuneration, social security and pensions | 62 | €2,971 | €3,317 | +€346 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,772 | €21,579 | -€2,193 | -9.2% |
| Other operating charges | 640/8 | €3,044 | €14,061 | +€11,017 | +361.9% |
| Gross operating margin | 9900 | €25,356 | €83,782 | +€58,426 | +230.4% |
| Operating profit (loss) | 9901 | -€4,431 | €44,825 | +€49,256 | |
| Financial income | 75/76B | €2,768 | €909 | -€1,859 | -67.2% |
| Recurring financial income | 75 | €2,768 | €909 | -€1,859 | -67.2% |
| Financial charges | 65/66B | €4,572 | €2,349 | -€2,223 | -48.6% |
| Recurring financial charges | 65 | €4,572 | €2,349 | -€2,223 | -48.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,235 | €43,385 | +€49,620 | |
| Income taxes | 67/77 | €128 | €11,352 | +€11,224 | +8768.8% |
| Profit (loss) for the period | 9904 | -€6,363 | €32,033 | +€38,396 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,363 | €32,033 | +€38,396 |
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 12 October 2026 via checked.be.