KODIAK: 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.
KODIAK
Largest movements
- Tangible fixed assets -€16,654
down €16,654 (-2.8%), from €590,771 to €574,117
of which Land and buildings: -€15,095
- Other debts -€28,625
down €28,625 (-28.2%), from €101,601 to €72,976
- Profit (loss) carried forward +€22,762
up €22,762 (+8.6%), from -€264,350 to -€241,588
- Trade debts -€9,176
down €9,176 (-82.2%), from €11,160 to €1,985
- Gross operating margin +€30,835
up €30,835 (+85.4%), from €36,102 to €66,936
- Financial charges -€3,363
down €3,363 (-24.9%), from €13,531 to €10,168
- Depreciation +€2,625
up €2,625 (+10.0%), from €26,164 to €28,789
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 | €603,036 | €586,985 | -€16,051 | -2.7% |
| Fixed assets | 21/28 | €592,041 | €575,387 | -€16,654 | -2.8% |
| Tangible fixed assets | 22/27 | €590,771 | €574,117 | -€16,654 | -2.8% |
| Land and buildings | 22 | €582,385 | €567,290 | -€15,095 | -2.6% |
| Plant, machinery and equipment | 23 | €2,922 | €2,106 | -€816 | -27.9% |
| Furniture and vehicles | 24 | €5,464 | €4,721 | -€743 | -13.6% |
| Financial fixed assets | 28 | €1,270 | €1,270 | = | 0.0% |
| Current assets | 29/58 | €10,994 | €11,598 | +€603 | +5.5% |
| Amounts receivable within one year | 40/41 | €3,733 | €1,066 | -€2,666 | -71.4% |
| Trade receivables | 40 | €3,733 | €1,066 | -€2,666 | -71.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,921 | €10,173 | +€3,252 | +47.0% |
| Deferred charges and accrued income | 490/1 | €341 | €358 | +€18 | +5.2% |
| Total equity and liabilities | 10/49 | €603,036 | €586,985 | -€16,051 | -2.7% |
| Equity | 10/15 | €186,225 | €208,987 | +€22,762 | +12.2% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €575 | €575 | = | 0.0% |
| Non-distributable reserves | 130/1 | €575 | €575 | = | 0.0% |
| Legal reserve | 130 | €575 | €575 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€264,350 | -€241,588 | +€22,762 | +8.6% |
| Amounts payable | 17/49 | €416,811 | €377,998 | -€38,813 | -9.3% |
| Amounts payable after more than one year | 17 | €300,000 | €300,000 | = | 0.0% |
| Financial debts | 170/4 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €116,811 | €77,998 | -€38,813 | -33.2% |
| Trade debts | 44 | €11,160 | €1,985 | -€9,176 | -82.2% |
| Suppliers | 440/4 | €11,160 | €1,985 | -€9,176 | -82.2% |
| Taxes, remuneration and social security | 45 | €4,050 | €3,038 | -€1,013 | -25.0% |
| Taxes | 450/3 | €4,050 | €3,038 | -€1,013 | -25.0% |
| Other amounts payable | 47/48 | €101,601 | €72,976 | -€28,625 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,164 | €28,789 | +€2,625 | +10.0% |
| Other operating charges | 640/8 | €5,058 | €5,217 | +€159 | +3.1% |
| Gross operating margin | 9900 | €36,102 | €66,936 | +€30,835 | +85.4% |
| Operating profit (loss) | 9901 | €4,880 | €32,931 | +€28,051 | +574.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €13,531 | €10,168 | -€3,363 | -24.9% |
| Recurring financial charges | 65 | €13,531 | €10,168 | -€3,363 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,652 | €22,762 | +€31,414 | |
| Profit (loss) for the period | 9904 | -€8,652 | €22,762 | +€31,414 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,652 | €22,762 | +€31,414 |
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 9 October 2026 via checked.be.