Kodevcon: 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.
Kodevcon
Largest movements
- Receivables after one year -€125,000
down €125,000 (-100%), from €125,000 to €0
- Cash +€68,923
up €68,923 (+133%), from €51,638 to €120,561
mainly Receivables after one year (+€125,000) and Net result for the year (+€51,288)
- Tangible fixed assets -€24,610
down €24,610 (-22.3%), from €110,570 to €85,960
of which Furniture and vehicles: -€23,570
- Receivables within one year -€14,836
down €14,836 (-29.7%), from €49,869 to €35,033
of which Other amounts receivable: -€16,815
- Other debts -€89,778
down €89,778 (-48.8%), from €184,044 to €94,265
- Debts after one year -€15,652
down €15,652 (-25.4%), from €61,738 to €46,086
- Tax, wage and social debts +€8,476
up €8,476 (+164%), from €5,183 to €13,659
- Gross operating margin +€20,876
up €20,876 (+27.6%), from €75,730 to €96,606
- Depreciation +€13,741
up €13,741 (+135%), from €10,148 to €23,889
- Financial income -€7,813
down €7,813 (-100%), from €7,813 to €0
- Taxes +€3,488
up €3,488 (+30.2%), from €11,565 to €15,053
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.
Derived cash bridge
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 | €339,154 | €243,692 | -€95,461 | -28.1% |
| Fixed assets | 21/28 | €110,820 | €86,210 | -€24,610 | -22.2% |
| Tangible fixed assets | 22/27 | €110,570 | €85,960 | -€24,610 | -22.3% |
| Plant, machinery and equipment | 23 | €1,040 | €0 | -€1,040 | -100% |
| Furniture and vehicles | 24 | €109,530 | €85,960 | -€23,570 | -21.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €228,334 | €157,483 | -€70,851 | -31.0% |
| Amounts receivable after more than one year | 29 | €125,000 | €0 | -€125,000 | -100% |
| Other amounts receivable | 291 | €125,000 | €0 | -€125,000 | -100% |
| Amounts receivable within one year | 40/41 | €49,869 | €35,033 | -€14,836 | -29.7% |
| Trade receivables | 40 | €23,102 | €25,081 | +€1,979 | +8.6% |
| Other amounts receivable | 41 | €26,767 | €9,952 | -€16,815 | -62.8% |
| Cash at bank and in hand | 54/58 | €51,638 | €120,561 | +€68,923 | +133% |
| Deferred charges and accrued income | 490/1 | €1,827 | €1,889 | +€62 | +3.4% |
| Total equity and liabilities | 10/49 | €339,154 | €243,692 | -€95,461 | -28.1% |
| Equity | 10/15 | €70,411 | €70,411 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,811 | €51,811 | = | 0.0% |
| Distributable reserves | 133 | €51,811 | €51,811 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €268,743 | €173,281 | -€95,461 | -35.5% |
| Amounts payable after more than one year | 17 | €61,738 | €46,086 | -€15,652 | -25.4% |
| Financial debts | 170/4 | €61,738 | €46,086 | -€15,652 | -25.4% |
| Amounts payable within one year | 42/48 | €207,005 | €126,696 | -€80,309 | -38.8% |
| Current portion of amounts payable after more than one year | 42 | €15,095 | €15,652 | +€557 | +3.7% |
| Trade debts | 44 | €2,683 | €3,119 | +€436 | +16.3% |
| Suppliers | 440/4 | €2,683 | €3,119 | +€436 | +16.3% |
| Taxes, remuneration and social security | 45 | €5,183 | €13,659 | +€8,476 | +164% |
| Taxes | 450/3 | €5,183 | €13,659 | +€8,476 | +164% |
| Other amounts payable | 47/48 | €184,044 | €94,265 | -€89,778 | -48.8% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Non-recurring operating income | 76A | - | €1,279 | +€1,279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,148 | €23,889 | +€13,741 | +135% |
| Other operating charges | 640/8 | €1,723 | €1,391 | -€332 | -19.3% |
| Non-recurring operating charges | 66A | €13,067 | €0 | -€13,067 | -100% |
| Gross operating margin | 9900 | €75,730 | €96,606 | +€20,876 | +27.6% |
| Operating profit (loss) | 9901 | €50,792 | €71,326 | +€20,534 | +40.4% |
| Financial income | 75/76B | €7,813 | €0 | -€7,813 | -100% |
| Recurring financial income | 75 | €7,813 | €0 | -€7,813 | -100% |
| Financial charges | 65/66B | €4,602 | €4,986 | +€383 | +8.3% |
| Recurring financial charges | 65 | €4,602 | €4,986 | +€383 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €54,002 | €66,341 | +€12,339 | +22.8% |
| Income taxes | 67/77 | €11,565 | €15,053 | +€3,488 | +30.2% |
| Profit (loss) for the period | 9904 | €42,437 | €51,288 | +€8,851 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,437 | €51,288 | +€8,851 | +20.9% |
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 14 October 2026 via checked.be.