Kodeer: 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.
Kodeer
Largest movements
- Cash -€19,115
down €19,115 (-27.7%), from €68,975 to €49,860
mainly Contributions, distributions and other (-€49,094) and Receivables within one year (-€11,869)
- Receivables within one year +€11,869
up €11,869 (+86.3%), from €13,749 to €25,618
of which Trade receivables: +€12,813
- Current investments +€2,500
up €2,500 (+50.0%), from €5,000 to €7,500
- Tax, wage and social debts -€10,992
down €10,992 (-41.1%), from €26,726 to €15,734
- Other debts +€6,777
up €6,777 (+19.4%), from €34,953 to €41,730
- Gross operating margin +€13,358
up €13,358 (+25.6%), from €52,116 to €65,474
- Taxes +€2,733
up €2,733 (+27.3%), from €10,002 to €12,735
- Depreciation +€1,169
up €1,169 (+74.8%), from €1,563 to €2,732
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 | €98,169 | €94,563 | -€3,605 | -3.7% |
| Fixed assets | 21/28 | €7,787 | €8,527 | +€741 | +9.5% |
| Tangible fixed assets | 22/27 | €7,787 | €8,527 | +€741 | +9.5% |
| Plant, machinery and equipment | 23 | €3,967 | €2,947 | -€1,020 | -25.7% |
| Furniture and vehicles | 24 | €3,820 | €5,581 | +€1,761 | +46.1% |
| Current assets | 29/58 | €90,382 | €86,036 | -€4,346 | -4.8% |
| Amounts receivable within one year | 40/41 | €13,749 | €25,618 | +€11,869 | +86.3% |
| Trade receivables | 40 | €520 | €13,333 | +€12,813 | +2466.4% |
| Other amounts receivable | 41 | €13,230 | €12,285 | -€945 | -7.1% |
| Current investments | 50/53 | €5,000 | €7,500 | +€2,500 | +50.0% |
| Cash at bank and in hand | 54/58 | €68,975 | €49,860 | -€19,115 | -27.7% |
| Deferred charges and accrued income | 490/1 | €2,658 | €3,058 | +€401 | +15.1% |
| Total equity and liabilities | 10/49 | €98,169 | €94,563 | -€3,605 | -3.7% |
| Equity | 10/15 | €36,490 | €36,490 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €33,990 | €33,990 | = | 0.0% |
| Distributable reserves | 133 | €33,990 | €33,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,679 | €58,073 | -€3,605 | -5.8% |
| Amounts payable within one year | 42/48 | €61,679 | €58,017 | -€3,662 | -5.9% |
| Trade debts | 44 | €0 | €553 | +€553 | |
| Suppliers | 440/4 | €0 | €553 | +€553 | |
| Taxes, remuneration and social security | 45 | €26,726 | €15,734 | -€10,992 | -41.1% |
| Taxes | 450/3 | €26,726 | €15,734 | -€10,992 | -41.1% |
| Other amounts payable | 47/48 | €34,953 | €41,730 | +€6,777 | +19.4% |
| Accrued charges and deferred income | 492/3 | €0 | €57 | +€57 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,563 | €2,732 | +€1,169 | +74.8% |
| Other operating charges | 640/8 | €1,187 | €720 | -€467 | -39.4% |
| Gross operating margin | 9900 | €52,116 | €65,474 | +€13,358 | +25.6% |
| Operating profit (loss) | 9901 | €49,366 | €62,022 | +€12,656 | +25.6% |
| Financial income | 75/76B | €1 | €142 | +€142 | +26248.1% |
| Recurring financial income | 75 | €1 | €142 | +€142 | +26248.1% |
| Financial charges | 65/66B | -€312 | €336 | +€648 | |
| Recurring financial charges | 65 | -€312 | €336 | +€648 | |
| Profit (loss) for the period before taxes | 9903 | €49,679 | €61,829 | +€12,150 | +24.5% |
| Income taxes | 67/77 | €10,002 | €12,735 | +€2,733 | +27.3% |
| Profit (loss) for the period | 9904 | €39,677 | €49,094 | +€9,417 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,677 | €49,094 | +€9,417 | +23.7% |
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 8 October 2026 via checked.be.