Kodecq: 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.
Kodecq
Largest movements
- Tangible fixed assets -€22,775
down €22,775 (-99.0%), from €23,009 to €233
- Cash +€17,677
up €17,677 (+31.6%), from €55,982 to €73,658
mainly Net result for the year (+€47,832) and Depreciation (+€22,775)
- Receivables within one year -€1,129
no longer reported in 2025 (was €1,129)
- Current portion of long-term debt -€21,282
no longer reported in 2025 (was €21,282)
- Other debts +€15,119
up €15,119 (+42.6%), from €35,464 to €50,583
- Reserves -€2,168
down €2,168 (-57.9%), from €3,742 to €1,573
- Tax, wage and social debts +€2,127
up €2,127 (+228.5%), from €931 to €3,058
- Gross operating margin +€15,668
up €15,668 (+22.5%), from €69,572 to €85,239
- Taxes +€3,853
up €3,853 (+38.8%), from €9,931 to €13,784
- Depreciation -€891
down €891 (-3.8%), from €23,666 to €22,775
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 | €80,911 | €74,740 | -€6,171 | -7.6% |
| Fixed assets | 21/28 | €23,009 | €233 | -€22,775 | -99.0% |
| Tangible fixed assets | 22/27 | €23,009 | €233 | -€22,775 | -99.0% |
| Furniture and vehicles | 24 | €23,009 | €233 | -€22,775 | -99.0% |
| Current assets | 29/58 | €57,902 | €74,506 | +€16,604 | +28.7% |
| Amounts receivable within one year | 40/41 | €1,129 | - | -€1,129 | |
| Other amounts receivable | 41 | €1,129 | - | -€1,129 | |
| Cash at bank and in hand | 54/58 | €55,982 | €73,658 | +€17,677 | +31.6% |
| Deferred charges and accrued income | 490/1 | €791 | €848 | +€57 | +7.2% |
| Total equity and liabilities | 10/49 | €80,911 | €74,740 | -€6,171 | -7.6% |
| Equity | 10/15 | €22,342 | €20,173 | -€2,168 | -9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,742 | €1,573 | -€2,168 | -57.9% |
| Distributable reserves | 133 | €3,742 | €1,573 | -€2,168 | -57.9% |
| Amounts payable | 17/49 | €58,569 | €54,566 | -€4,003 | -6.8% |
| Amounts payable within one year | 42/48 | €58,526 | €54,436 | -€4,090 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €21,282 | - | -€21,282 | |
| Trade debts | 44 | €850 | €796 | -€54 | -6.4% |
| Suppliers | 440/4 | €850 | €796 | -€54 | -6.4% |
| Taxes, remuneration and social security | 45 | €931 | €3,058 | +€2,127 | +228.5% |
| Taxes | 450/3 | €931 | €3,058 | +€2,127 | +228.5% |
| Other amounts payable | 47/48 | €35,464 | €50,583 | +€15,119 | +42.6% |
| Accrued charges and deferred income | 492/3 | €43 | €130 | +€87 | +202.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,666 | €22,775 | -€891 | -3.8% |
| Other operating charges | 640/8 | €576 | €603 | +€27 | +4.6% |
| Gross operating margin | 9900 | €69,572 | €85,239 | +€15,668 | +22.5% |
| Operating profit (loss) | 9901 | €45,329 | €61,861 | +€16,532 | +36.5% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €441 | €245 | -€196 | -44.3% |
| Recurring financial charges | 65 | €441 | €245 | -€196 | -44.3% |
| Profit (loss) for the period before taxes | 9903 | €44,888 | €61,615 | +€16,728 | +37.3% |
| Income taxes | 67/77 | €9,931 | €13,784 | +€3,853 | +38.8% |
| Profit (loss) for the period | 9904 | €34,957 | €47,832 | +€12,875 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,957 | €47,832 | +€12,875 | +36.8% |
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 4 October 2026 via checked.be.