KODEH: what changed
KODEH
Largest movements
- Cash -€26,951
down €26,951 (-96.4%), from €27,949 to €998
mainly Net result for the year (-€31,726) and Investment in fixed assets (net) (-€1,505)
- Tangible fixed assets -€702
down €702 (-4.6%), from €15,346 to €14,644
of which Land and buildings: -€1,595
- Profit (loss) carried forward -€31,726
down €31,726 (-32.4%), from -€97,831 to -€129,557
- Other debts +€4,479
up €4,479 (+11.5%), from €39,074 to €43,553
- Gross operating margin +€36,840
up €36,840 (+55.8%), from -€66,080 to -€29,240
- Financial income -€17,262
no longer reported in 2025 (was €17,262)
of which Non-recurring financial income: -€17,072
- Financial charges -€2,974
down €2,974 (-98.0%), from €3,034 to €60
of which Non-recurring financial charges: -€2,415
- Depreciation +€780
up €780 (+54.7%), from €1,427 to €2,207
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,843 | €32,733 | -€28,110 | -46.2% |
| Fixed assets | 21/28 | €15,346 | €14,644 | -€702 | -4.6% |
| Tangible fixed assets | 22/27 | €15,346 | €14,644 | -€702 | -4.6% |
| Land and buildings | 22 | €15,152 | €13,557 | -€1,595 | -10.5% |
| Plant, machinery and equipment | 23 | €194 | €1,087 | +€893 | +460% |
| Current assets | 29/58 | €45,497 | €18,089 | -€27,408 | -60.2% |
| Amounts receivable within one year | 40/41 | €17,548 | €17,091 | -€457 | -2.6% |
| Trade receivables | 40 | €3,294 | €2,726 | -€568 | -17.2% |
| Other amounts receivable | 41 | €14,254 | €14,365 | +€111 | +0.8% |
| Cash at bank and in hand | 54/58 | €27,949 | €998 | -€26,951 | -96.4% |
| Total equity and liabilities | 10/49 | €60,843 | €32,733 | -€28,110 | -46.2% |
| Equity | 10/15 | €19,123 | -€12,603 | -€31,726 | |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €109,517 | €109,517 | = | 0.0% |
| Distributable reserves | 133 | €109,517 | €109,517 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,831 | -€129,557 | -€31,726 | -32.4% |
| Amounts payable | 17/49 | €41,720 | €45,336 | +€3,616 | +8.7% |
| Amounts payable within one year | 42/48 | €41,720 | €45,336 | +€3,616 | +8.7% |
| Trade debts | 44 | €2,317 | €1,783 | -€534 | -23.0% |
| Suppliers | 440/4 | €2,317 | €1,783 | -€534 | -23.0% |
| Taxes, remuneration and social security | 45 | €329 | - | -€329 | |
| Taxes | 450/3 | €329 | - | -€329 | |
| Other amounts payable | 47/48 | €39,074 | €43,553 | +€4,479 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,427 | €2,207 | +€780 | +54.7% |
| Other operating charges | 640/8 | €595 | €219 | -€376 | -63.2% |
| Non-recurring operating charges | 66A | €14,381 | - | -€14,381 | |
| Gross operating margin | 9900 | -€66,080 | -€29,240 | +€36,840 | +55.8% |
| Operating profit (loss) | 9901 | -€82,483 | -€31,666 | +€50,817 | +61.6% |
| Financial income | 75/76B | €17,262 | - | -€17,262 | |
| Recurring financial income | 75 | €190 | - | -€190 | |
| Non-recurring financial income | 76B | €17,072 | - | -€17,072 | |
| Financial charges | 65/66B | €3,034 | €60 | -€2,974 | -98.0% |
| Recurring financial charges | 65 | €619 | €60 | -€559 | -90.3% |
| Non-recurring financial charges | 66B | €2,415 | - | -€2,415 | |
| Profit (loss) for the period before taxes | 9903 | -€68,255 | -€31,726 | +€36,529 | +53.5% |
| Income taxes | 67/77 | €329 | - | -€329 | |
| Profit (loss) for the period | 9904 | -€68,584 | -€31,726 | +€36,858 | +53.7% |
| Transfer from tax-exempt reserves | 789 | €1,000 | - | -€1,000 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,584 | -€31,726 | +€35,858 | +53.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.