Kodr: what changed
Two fiscal 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.
Kodr
Largest movements
- Cash -€51,372
down €51,372 (-66.2%), from €77,632 to €26,261
mainly Contributions, distributions and other (-€45,000) and Current investments (-€43,125)
- Current investments +€43,125
new in 2025: €43,125
- Receivables within one year +€13,000
up €13,000 (+93.4%), from €13,915 to €26,915
- Tangible fixed assets -€2,366
down €2,366 (-15.2%), from €15,533 to €13,167
of which Land and buildings: -€1,869
- Other debts +€16,161
up €16,161 (+25.5%), from €63,343 to €79,503
- Profit (loss) carried forward -€13,530
no longer reported in 2025 (was €13,530)
- Reserves +€8,805
new in 2025: €8,805
- Tax, wage and social debts -€4,042
down €4,042 (-22.2%), from €18,244 to €14,202
of which Taxes: -€4,576
- Current portion of long-term debt -€3,762
no longer reported in 2025 (was €3,762)
- Gross operating margin +€12,726
up €12,726 (+27.3%), from €46,634 to €59,360
- Financial charges -€3,826
down €3,826 (-62.2%), from €6,149 to €2,323
- Taxes +€2,831
up €2,831 (+31.4%), from €9,022 to €11,853
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 | €108,208 | €110,243 | +€2,035 | +1.9% |
| Fixed assets | 21/28 | €15,533 | €13,167 | -€2,366 | -15.2% |
| Tangible fixed assets | 22/27 | €15,533 | €13,167 | -€2,366 | -15.2% |
| Land and buildings | 22 | €12,459 | €10,590 | -€1,869 | -15.0% |
| Plant, machinery and equipment | 23 | €602 | €265 | -€337 | -56.0% |
| Furniture and vehicles | 24 | €2,472 | €2,312 | -€160 | -6.5% |
| Current assets | 29/58 | €92,675 | €97,076 | +€4,401 | +4.7% |
| Amounts receivable within one year | 40/41 | €13,915 | €26,915 | +€13,000 | +93.4% |
| Trade receivables | 40 | €13,915 | €26,915 | +€13,000 | +93.4% |
| Current investments | 50/53 | - | €43,125 | +€43,125 | |
| Cash at bank and in hand | 54/58 | €77,632 | €26,261 | -€51,372 | -66.2% |
| Deferred charges and accrued income | 490/1 | €1,128 | €775 | -€353 | -31.3% |
| Total equity and liabilities | 10/49 | €108,208 | €110,243 | +€2,035 | +1.9% |
| Equity | 10/15 | €17,530 | €12,805 | -€4,725 | -27.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | - | €8,805 | +€8,805 | |
| Distributable reserves | 133 | - | €8,805 | +€8,805 | |
| Profit (loss) carried forward | 14 | €13,530 | - | -€13,530 | |
| Amounts payable | 17/49 | €90,678 | €97,438 | +€6,760 | +7.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €90,034 | €97,438 | +€7,404 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €3,762 | - | -€3,762 | |
| Financial debts | 43 | €71 | - | -€71 | |
| Credit institutions | 430/8 | €71 | - | -€71 | |
| Trade debts | 44 | €4,614 | €3,732 | -€881 | -19.1% |
| Suppliers | 440/4 | €4,614 | €3,732 | -€881 | -19.1% |
| Taxes, remuneration and social security | 45 | €18,244 | €14,202 | -€4,042 | -22.2% |
| Taxes | 450/3 | €18,244 | €13,668 | -€4,576 | -25.1% |
| Remuneration and social security | 454/9 | €0 | €534 | +€534 | |
| Other amounts payable | 47/48 | €63,343 | €79,503 | +€16,161 | +25.5% |
| Accrued charges and deferred income | 492/3 | €644 | - | -€644 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,765 | €4,111 | +€345 | +9.2% |
| Other operating charges | 640/8 | €1,347 | €1,002 | -€345 | -25.6% |
| Gross operating margin | 9900 | €46,634 | €59,360 | +€12,726 | +27.3% |
| Operating profit (loss) | 9901 | €41,522 | €54,247 | +€12,725 | +30.6% |
| Financial income | 75/76B | €163 | €204 | +€41 | +25.1% |
| Recurring financial income | 75 | €163 | €204 | +€41 | +25.1% |
| Financial charges | 65/66B | €6,149 | €2,323 | -€3,826 | -62.2% |
| Recurring financial charges | 65 | €6,149 | €2,323 | -€3,826 | -62.2% |
| Profit (loss) for the period before taxes | 9903 | €35,536 | €52,128 | +€16,592 | +46.7% |
| Income taxes | 67/77 | €9,022 | €11,853 | +€2,831 | +31.4% |
| Profit (loss) for the period | 9904 | €26,513 | €40,275 | +€13,761 | +51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,513 | €40,275 | +€13,761 | +51.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.