KODIAK MANAGEMENT: 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 MANAGEMENT
Largest movements
- Current investments +€119,813
new in 2025: €119,813
- Tangible fixed assets +€110,084
up €110,084 (+347%), from €31,725 to €141,809
of which Furniture and vehicles: +€104,090
- Receivables within one year +€53,080
up €53,080 (+65.6%), from €80,930 to €134,010
of which Trade receivables: +€54,889
- Cash +€34,591
up €34,591 (+205%), from €16,869 to €51,461
mainly Net result for the year (+€261,084) and Other debts (+€73,632)
- Profit (loss) carried forward +€139,084
up €139,084 (+75.2%), from €185,009 to €324,093
- Other debts +€73,632
up €73,632 (+41.9%), from €175,595 to €249,227
- Debts after one year +€65,814
new in 2025: €65,814
- Current portion of long-term debt +€29,020
new in 2025: €29,020
- Accrued charges and deferred income +€9,841
up €9,841 (+1,227%), from €802 to €10,643
- Financial income -€55,639
down €55,639 (-20.2%), from €275,000 to €219,361
- Gross operating margin +€49,296
up €49,296 (+83.0%), from €59,369 to €108,666
- Depreciation +€23,001
up €23,001 (+555%), from €4,145 to €27,146
- Financial charges +€15,432
up €15,432 (+1,554%), from €993 to €16,425
- Taxes +€5,861
up €5,861 (+36.2%), from €16,187 to €22,048
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 | €395,697 | €713,002 | +€317,305 | +80.2% |
| Fixed assets | 21/28 | €294,225 | €404,309 | +€110,084 | +37.4% |
| Tangible fixed assets | 22/27 | €31,725 | €141,809 | +€110,084 | +347% |
| Plant, machinery and equipment | 23 | €532 | €6,639 | +€6,107 | +1,147% |
| Furniture and vehicles | 24 | €7,147 | €111,237 | +€104,090 | +1,456% |
| Other tangible fixed assets | 26 | €24,045 | €23,933 | -€113 | -0.5% |
| Financial fixed assets | 28 | €262,500 | €262,500 | = | 0.0% |
| Current assets | 29/58 | €101,472 | €308,693 | +€207,221 | +204% |
| Amounts receivable within one year | 40/41 | €80,930 | €134,010 | +€53,080 | +65.6% |
| Trade receivables | 40 | €78,211 | €133,100 | +€54,889 | +70.2% |
| Other amounts receivable | 41 | €2,719 | €910 | -€1,809 | -66.5% |
| Current investments | 50/53 | - | €119,813 | +€119,813 | |
| Cash at bank and in hand | 54/58 | €16,869 | €51,461 | +€34,591 | +205% |
| Deferred charges and accrued income | 490/1 | €3,673 | €3,409 | -€263 | -7.2% |
| Total equity and liabilities | 10/49 | €395,697 | €713,002 | +€317,305 | +80.2% |
| Equity | 10/15 | €195,009 | €334,093 | +€139,084 | +71.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €185,009 | €324,093 | +€139,084 | +75.2% |
| Amounts payable | 17/49 | €200,688 | €378,909 | +€178,221 | +88.8% |
| Amounts payable after more than one year | 17 | - | €65,814 | +€65,814 | |
| Financial debts | 170/4 | - | €65,814 | +€65,814 | |
| Amounts payable within one year | 42/48 | €199,886 | €302,452 | +€102,566 | +51.3% |
| Current portion of amounts payable after more than one year | 42 | - | €29,020 | +€29,020 | |
| Trade debts | 44 | €6,590 | €670 | -€5,921 | -89.8% |
| Suppliers | 440/4 | €6,590 | €670 | -€5,921 | -89.8% |
| Taxes, remuneration and social security | 45 | €17,701 | €23,535 | +€5,835 | +33.0% |
| Taxes | 450/3 | €14,882 | €20,563 | +€5,681 | +38.2% |
| Remuneration and social security | 454/9 | €2,819 | €2,972 | +€154 | +5.5% |
| Other amounts payable | 47/48 | €175,595 | €249,227 | +€73,632 | +41.9% |
| Accrued charges and deferred income | 492/3 | €802 | €10,643 | +€9,841 | +1,227% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,145 | €27,146 | +€23,001 | +555% |
| Other operating charges | 640/8 | €2,242 | €1,325 | -€918 | -40.9% |
| Gross operating margin | 9900 | €59,369 | €108,666 | +€49,296 | +83.0% |
| Operating profit (loss) | 9901 | €52,982 | €80,195 | +€27,213 | +51.4% |
| Financial income | 75/76B | €275,000 | €219,361 | -€55,639 | -20.2% |
| Recurring financial income | 75 | €275,000 | €219,361 | -€55,639 | -20.2% |
| Financial charges | 65/66B | €993 | €16,425 | +€15,432 | +1,554% |
| Recurring financial charges | 65 | €993 | €16,425 | +€15,432 | +1,554% |
| Profit (loss) for the period before taxes | 9903 | €326,989 | €283,132 | -€43,858 | -13.4% |
| Income taxes | 67/77 | €16,187 | €22,048 | +€5,861 | +36.2% |
| Profit (loss) for the period | 9904 | €310,803 | €261,084 | -€49,719 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €310,803 | €261,084 | -€49,719 | -16.0% |
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 24 October 2026 via checked.be.