KODER: 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.
KODER
Largest movements
- Cash -€22,424
down €22,424 (-58.9%), from €38,058 to €15,633
mainly Contributions, distributions and other (-€88,000) and Receivables within one year (-€9,901)
- Receivables within one year +€9,901
up €9,901 (+58.6%), from €16,888 to €26,789
of which Trade receivables: +€10,000
- Tangible fixed assets -€1,036
down €1,036 (-26.4%), from €3,919 to €2,883
of which Plant, machinery and equipment: -€722
- Profit (loss) carried forward -€25,860
down €25,860 (-60.5%), from €42,758 to €16,898
- Current portion of long-term debt +€8,796
new in 2025: €8,796
- Other debts +€2,918
new in 2025: €2,918
- Trade debts +€1,128
up €1,128 (+433.8%), from €260 to €1,388
- Taxes -€9,496
down €9,496 (-73.3%), from €12,959 to €3,463
- Gross operating margin +€1,972
up €1,972 (+2.9%), from €67,425 to €69,397
- Staff costs +€1,130
new in 2025: €1,130
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 | €58,915 | €45,356 | -€13,559 | -23.0% |
| Fixed assets | 21/28 | €3,969 | €2,933 | -€1,036 | -26.1% |
| Tangible fixed assets | 22/27 | €3,919 | €2,883 | -€1,036 | -26.4% |
| Plant, machinery and equipment | 23 | €3,132 | €2,410 | -€722 | -23.0% |
| Furniture and vehicles | 24 | €787 | €473 | -€314 | -39.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €54,946 | €42,422 | -€12,524 | -22.8% |
| Amounts receivable within one year | 40/41 | €16,888 | €26,789 | +€9,901 | +58.6% |
| Trade receivables | 40 | €13,232 | €23,232 | +€10,000 | +75.6% |
| Other amounts receivable | 41 | €3,656 | €3,557 | -€99 | -2.7% |
| Cash at bank and in hand | 54/58 | €38,058 | €15,633 | -€22,424 | -58.9% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €58,915 | €45,356 | -€13,559 | -23.0% |
| Equity | 10/15 | €47,758 | €21,898 | -€25,860 | -54.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,758 | €16,898 | -€25,860 | -60.5% |
| Amounts payable | 17/49 | €11,157 | €23,457 | +€12,300 | +110.2% |
| Amounts payable within one year | 42/48 | €10,676 | €23,118 | +€12,443 | +116.6% |
| Current portion of amounts payable after more than one year | 42 | - | €8,796 | +€8,796 | |
| Trade debts | 44 | €260 | €1,388 | +€1,128 | +433.8% |
| Suppliers | 440/4 | €260 | €1,388 | +€1,128 | +433.8% |
| Taxes, remuneration and social security | 45 | €10,416 | €10,017 | -€399 | -3.8% |
| Taxes | 450/3 | €10,416 | €10,017 | -€399 | -3.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €2,918 | +€2,918 | |
| Accrued charges and deferred income | 492/3 | €481 | €339 | -€142 | -29.6% |
| Remuneration, social security and pensions | 62 | - | €1,130 | +€1,130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,662 | €1,036 | -€626 | -37.7% |
| Other operating charges | 640/8 | €1,635 | €1,544 | -€91 | -5.5% |
| Gross operating margin | 9900 | €67,425 | €69,397 | +€1,972 | +2.9% |
| Operating profit (loss) | 9901 | €64,128 | €65,687 | +€1,559 | +2.4% |
| Financial income | 75/76B | €0 | €19 | +€19 | +192500.0% |
| Recurring financial income | 75 | €0 | €19 | +€19 | +192500.0% |
| Financial charges | 65/66B | €310 | €103 | -€207 | -66.8% |
| Recurring financial charges | 65 | €310 | €103 | -€207 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €63,818 | €65,603 | +€1,785 | +2.8% |
| Income taxes | 67/77 | €12,959 | €3,463 | -€9,496 | -73.3% |
| Profit (loss) for the period | 9904 | €50,860 | €62,140 | +€11,281 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,860 | €62,140 | +€11,281 | +22.2% |
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.