Kordent: 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.
Kordent
Largest movements
- Current investments -€175,000
down €175,000 (-100.0%), from €175,000 to €0
- Tangible fixed assets -€90,834
down €90,834 (-35.7%), from €254,164 to €163,330
of which Other tangible fixed assets: -€86,914
- Cash +€85,289
up €85,289 (+29.3%), from €291,289 to €376,578
mainly Net result for the year (+€203,976) and Current investments (+€175,000)
- Receivables within one year +€56,761
up €56,761 (+54.3%), from €104,437 to €161,198
of which Other amounts receivable: +€54,847
- Other debts -€130,320
down €130,320 (-42.0%), from €310,000 to €179,680
- Debts after one year -€28,040
down €28,040 (-36.2%), from €77,451 to €49,412
- Reserves +€24,696
up €24,696 (+52.8%), from €46,735 to €71,431
of which Distributable reserves: +€24,696
- Advances received -€24,554
down €24,554 (-42.6%), from €57,691 to €33,138
- Trade debts +€23,703
up €23,703 (+8.7%), from €272,586 to €296,289
- Gross operating margin +€27,241
up €27,241 (+3.6%), from €754,146 to €781,387
- Depreciation +€13,805
up €13,805 (+10.4%), from €133,019 to €146,824
- Staff costs -€9,313
down €9,313 (-2.5%), from €366,285 to €356,973
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 | €855,737 | €723,159 | -€132,578 | -15.5% |
| Fixed assets | 21/28 | €256,153 | €163,479 | -€92,674 | -36.2% |
| Tangible fixed assets | 22/27 | €254,164 | €163,330 | -€90,834 | -35.7% |
| Plant, machinery and equipment | 23 | €96,695 | €103,215 | +€6,520 | +6.7% |
| Furniture and vehicles | 24 | €21,412 | €21,231 | -€181 | -0.8% |
| Leasing and similar rights | 25 | €26,570 | €16,311 | -€10,259 | -38.6% |
| Other tangible fixed assets | 26 | €109,487 | €22,573 | -€86,914 | -79.4% |
| Financial fixed assets | 28 | €1,989 | €149 | -€1,840 | -92.5% |
| Current assets | 29/58 | €599,584 | €559,680 | -€39,905 | -6.7% |
| Stocks and contracts in progress | 3 | €16,285 | €8,554 | -€7,731 | -47.5% |
| Stocks | 30/36 | €16,285 | €8,554 | -€7,731 | -47.5% |
| Amounts receivable within one year | 40/41 | €104,437 | €161,198 | +€56,761 | +54.3% |
| Trade receivables | 40 | €6,730 | €8,644 | +€1,914 | +28.4% |
| Other amounts receivable | 41 | €97,708 | €152,555 | +€54,847 | +56.1% |
| Current investments | 50/53 | €175,000 | €0 | -€175,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €291,289 | €376,578 | +€85,289 | +29.3% |
| Deferred charges and accrued income | 490/1 | €12,573 | €13,349 | +€777 | +6.2% |
| Total equity and liabilities | 10/49 | €855,737 | €723,159 | -€132,578 | -15.5% |
| Equity | 10/15 | €51,952 | €76,649 | +€24,696 | +47.5% |
| Contributions | 10/11 | €5,218 | €5,218 | = | 0.0% |
| Reserves | 13 | €46,735 | €71,431 | +€24,696 | +52.8% |
| Tax-exempt reserves | 132 | €69 | €69 | = | 0.0% |
| Distributable reserves | 133 | €46,666 | €71,362 | +€24,696 | +52.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €803,785 | €646,510 | -€157,275 | -19.6% |
| Amounts payable after more than one year | 17 | €77,451 | €49,412 | -€28,040 | -36.2% |
| Financial debts | 170/4 | €77,451 | €49,412 | -€28,040 | -36.2% |
| Amounts payable within one year | 42/48 | €725,855 | €597,099 | -€128,756 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €38,144 | €28,040 | -€10,104 | -26.5% |
| Trade debts | 44 | €272,586 | €296,289 | +€23,703 | +8.7% |
| Suppliers | 440/4 | €272,586 | €296,289 | +€23,703 | +8.7% |
| Advances received on contracts in progress | 46 | €57,691 | €33,138 | -€24,554 | -42.6% |
| Taxes, remuneration and social security | 45 | €47,434 | €59,952 | +€12,518 | +26.4% |
| Taxes | 450/3 | - | €14,405 | +€14,405 | |
| Remuneration and social security | 454/9 | €47,434 | €45,547 | -€1,887 | -4.0% |
| Other amounts payable | 47/48 | €310,000 | €179,680 | -€130,320 | -42.0% |
| Accrued charges and deferred income | 492/3 | €479 | €0 | -€479 | -100.0% |
| Non-recurring operating income | 76A | - | €4,817 | +€4,817 | |
| Remuneration, social security and pensions | 62 | €366,285 | €356,973 | -€9,313 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,019 | €146,824 | +€13,805 | +10.4% |
| Other operating charges | 640/8 | €5,642 | €6,585 | +€943 | +16.7% |
| Gross operating margin | 9900 | €754,146 | €781,387 | +€27,241 | +3.6% |
| Operating profit (loss) | 9901 | €249,200 | €271,005 | +€21,805 | +8.8% |
| Financial income | 75/76B | €4,329 | €4,495 | +€166 | +3.8% |
| Recurring financial income | 75 | €4,329 | €4,495 | +€166 | +3.8% |
| Financial charges | 65/66B | €11,255 | €3,788 | -€7,467 | -66.3% |
| Recurring financial charges | 65 | €11,255 | €3,788 | -€7,467 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | €242,274 | €271,712 | +€29,438 | +12.2% |
| Income taxes | 67/77 | €62,125 | €67,736 | +€5,611 | +9.0% |
| Profit (loss) for the period | 9904 | €180,149 | €203,976 | +€23,827 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €180,149 | €203,976 | +€23,827 | +13.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.