Kodepacc: 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.
Kodepacc
Largest movements
- Financial fixed assets +€53,817
up €53,817 (+24.2%), from €222,534 to €276,351
- Cash +€28,103
up €28,103 (+54.4%), from €51,626 to €79,729
mainly Other debts (+€329,713) and Net result for the year (+€149,562)
- Receivables after one year -€13,046
down €13,046 (-6.2%), from €211,246 to €198,200
- Current investments +€10,261
up €10,261 (+25.3%), from €40,497 to €50,758
- Reserves -€350,438
down €350,438 (-62.1%), from €563,888 to €213,450
of which Distributable reserves: -€350,438
- Other debts +€329,713
new in 2025: €329,713
- Short-term financial debts +€74,498
up €74,498 (+5672.8%), from €1,313 to €75,811
- Tax, wage and social debts +€17,781
up €17,781 (+83.1%), from €21,404 to €39,185
- Financial income -€353,493
down €353,493 (-98.1%), from €360,462 to €6,969
- Gross operating margin +€20,099
up €20,099 (+10.6%), from €189,477 to €209,576
- Taxes +€4,889
up €4,889 (+10.5%), from €46,356 to €51,245
- Financial charges +€3,687
up €3,687 (+69.7%), from €5,290 to €8,977
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 | €645,324 | €715,618 | +€70,294 | +10.9% |
| Fixed assets | 21/28 | €263,977 | €312,921 | +€48,944 | +18.5% |
| Tangible fixed assets | 22/27 | €41,443 | €36,570 | -€4,873 | -11.8% |
| Plant, machinery and equipment | 23 | - | €1,044 | +€1,044 | |
| Furniture and vehicles | 24 | €6,681 | €4,264 | -€2,417 | -36.2% |
| Other tangible fixed assets | 26 | €34,762 | €31,262 | -€3,500 | -10.1% |
| Financial fixed assets | 28 | €222,534 | €276,351 | +€53,817 | +24.2% |
| Current assets | 29/58 | €381,347 | €402,697 | +€21,349 | +5.6% |
| Amounts receivable after more than one year | 29 | €211,246 | €198,200 | -€13,046 | -6.2% |
| Other amounts receivable | 291 | €211,246 | €198,200 | -€13,046 | -6.2% |
| Amounts receivable within one year | 40/41 | €77,270 | €72,802 | -€4,468 | -5.8% |
| Trade receivables | 40 | - | €10,219 | +€10,219 | |
| Other amounts receivable | 41 | €77,270 | €62,583 | -€14,687 | -19.0% |
| Current investments | 50/53 | €40,497 | €50,758 | +€10,261 | +25.3% |
| Cash at bank and in hand | 54/58 | €51,626 | €79,729 | +€28,103 | +54.4% |
| Deferred charges and accrued income | 490/1 | €708 | €1,208 | +€500 | +70.6% |
| Total equity and liabilities | 10/49 | €645,324 | €715,618 | +€70,294 | +10.9% |
| Equity | 10/15 | €582,488 | €232,050 | -€350,438 | -60.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €563,888 | €213,450 | -€350,438 | -62.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €562,028 | €211,590 | -€350,438 | -62.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,836 | €483,568 | +€420,732 | +669.6% |
| Amounts payable after more than one year | 17 | €20,433 | €20,000 | -€433 | -2.1% |
| Financial debts | 170/4 | €20,433 | €20,000 | -€433 | -2.1% |
| Amounts payable within one year | 42/48 | €41,878 | €463,043 | +€421,165 | +1005.7% |
| Current portion of amounts payable after more than one year | 42 | €15,840 | €13,894 | -€1,945 | -12.3% |
| Financial debts | 43 | €1,313 | €75,811 | +€74,498 | +5672.8% |
| Credit institutions | 430/8 | €1,313 | €75,811 | +€74,498 | +5672.8% |
| Trade debts | 44 | €3,321 | €4,439 | +€1,118 | +33.7% |
| Suppliers | 440/4 | €3,321 | €4,439 | +€1,118 | +33.7% |
| Taxes, remuneration and social security | 45 | €21,404 | €39,185 | +€17,781 | +83.1% |
| Taxes | 450/3 | €21,404 | €39,185 | +€17,781 | +83.1% |
| Other amounts payable | 47/48 | - | €329,713 | +€329,713 | |
| Accrued charges and deferred income | 492/3 | €525 | €525 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,133 | €6,006 | -€127 | -2.1% |
| Other operating charges | 640/8 | €855 | €755 | -€100 | -11.7% |
| Gross operating margin | 9900 | €189,477 | €209,576 | +€20,099 | +10.6% |
| Operating profit (loss) | 9901 | €182,488 | €202,815 | +€20,326 | +11.1% |
| Financial income | 75/76B | €360,462 | €6,969 | -€353,493 | -98.1% |
| Recurring financial income | 75 | €360,462 | €6,969 | -€353,493 | -98.1% |
| Financial charges | 65/66B | €5,290 | €8,977 | +€3,687 | +69.7% |
| Recurring financial charges | 65 | €5,290 | €8,977 | +€3,687 | +69.7% |
| Profit (loss) for the period before taxes | 9903 | €537,661 | €200,807 | -€336,854 | -62.7% |
| Income taxes | 67/77 | €46,356 | €51,245 | +€4,889 | +10.5% |
| Profit (loss) for the period | 9904 | €491,305 | €149,562 | -€341,743 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €491,305 | €149,562 | -€341,743 | -69.6% |
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.