KODACO: 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.
KODACO
Largest movements
- Deferred charges and accrued income +€15,573
up €15,573 (+579.2%), from €2,689 to €18,262
- Receivables within one year -€1,905
down €1,905 (-11.3%), from €16,830 to €14,925
of which Trade receivables: -€1,379
- Cash -€1,783
down €1,783 (-9.6%), from €18,504 to €16,721
mainly Deferred charges and accrued income (-€15,573) and Net result for the year (-€15,412)
- Tangible fixed assets -€772
no longer reported in 2025 (was €772)
- Advances received +€20,873
new in 2025: €20,873
- Profit (loss) carried forward -€15,412
down €15,412, from €5,553 to -€9,859
- Other debts +€5,715
up €5,715 (+352767.9%), from €2 to €5,716
- Trade debts -€1,472
down €1,472 (-67.8%), from €2,172 to €700
- Tax, wage and social debts +€1,409
up €1,409 (+23.4%), from €6,020 to €7,429
of which Taxes: +€1,609
- Gross operating margin -€17,504
down €17,504, from €5,511 to -€11,993
- Financial charges -€2,309
down €2,309 (-59.2%), from €3,899 to €1,590
- Taxes -€1,182
down €1,182 (-85.9%), from €1,376 to €194
- Depreciation -€165
down €165 (-17.6%), from €936 to €772
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 | €38,795 | €49,908 | +€11,113 | +28.6% |
| Fixed assets | 21/28 | €772 | - | -€772 | |
| Tangible fixed assets | 22/27 | €772 | - | -€772 | |
| Furniture and vehicles | 24 | €772 | - | -€772 | |
| Current assets | 29/58 | €38,023 | €49,908 | +€11,884 | +31.3% |
| Amounts receivable within one year | 40/41 | €16,830 | €14,925 | -€1,905 | -11.3% |
| Trade receivables | 40 | €12,874 | €11,495 | -€1,379 | -10.7% |
| Other amounts receivable | 41 | €3,956 | €3,430 | -€526 | -13.3% |
| Cash at bank and in hand | 54/58 | €18,504 | €16,721 | -€1,783 | -9.6% |
| Deferred charges and accrued income | 490/1 | €2,689 | €18,262 | +€15,573 | +579.2% |
| Total equity and liabilities | 10/49 | €38,795 | €49,908 | +€11,113 | +28.6% |
| Equity | 10/15 | €30,601 | €15,189 | -€15,412 | -50.4% |
| Contributions | 10/11 | €3,100 | €3,100 | = | 0.0% |
| Reserves | 13 | €21,948 | €21,948 | = | 0.0% |
| Distributable reserves | 133 | €21,948 | €21,948 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,553 | -€9,859 | -€15,412 | |
| Amounts payable | 17/49 | €8,193 | €34,719 | +€26,525 | +323.7% |
| Amounts payable within one year | 42/48 | €8,193 | €34,719 | +€26,525 | +323.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,172 | €700 | -€1,472 | -67.8% |
| Suppliers | 440/4 | €2,172 | €700 | -€1,472 | -67.8% |
| Advances received on contracts in progress | 46 | - | €20,873 | +€20,873 | |
| Taxes, remuneration and social security | 45 | €6,020 | €7,429 | +€1,409 | +23.4% |
| Taxes | 450/3 | €3,170 | €4,779 | +€1,609 | +50.8% |
| Remuneration and social security | 454/9 | €2,850 | €2,650 | -€200 | -7.0% |
| Other amounts payable | 47/48 | €2 | €5,716 | +€5,715 | +352767.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €936 | €772 | -€165 | -17.6% |
| Other operating charges | 640/8 | €883 | €864 | -€19 | -2.1% |
| Gross operating margin | 9900 | €5,511 | -€11,993 | -€17,504 | |
| Operating profit (loss) | 9901 | €3,692 | -€13,629 | -€17,321 | |
| Financial charges | 65/66B | €3,899 | €1,590 | -€2,309 | -59.2% |
| Recurring financial charges | 65 | €3,899 | €1,590 | -€2,309 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | -€207 | -€15,218 | -€15,011 | -7253.7% |
| Income taxes | 67/77 | €1,376 | €194 | -€1,182 | -85.9% |
| Profit (loss) for the period | 9904 | -€1,583 | -€15,412 | -€13,829 | -873.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,583 | -€15,412 | -€13,829 | -873.5% |
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.