VZW de Kade: what changed
VZW de Kade
Largest movements
- Financial fixed assets +€9.6m
new in 2025: €9.6m
- Current investments +€9.4m
up €9.4m (+120%), from €7.8m to €17.3m
- Cash -€8.4m
down €8.4m (-73.5%), from €11.4m to €3.0m
mainly Investment in fixed assets (net) (-€10.0m) and Current investments (-€9.4m)
- Tangible fixed assets +€344,149
up €344,149 (+1,005%), from €34,236 to €378,385
of which Land and buildings: +€331,747
- Reserves +€12.3m
up €12.3m (+86.6%), from €14.2m to €26.5m
- Debts within one year -€1.5m
down €1.5m (-100%), from €1.5m to €0
- Profit (loss) carried forward +€469,890
up €469,890 (+13.8%), from €3.4m to €3.9m
- Financial income +€240,657
up €240,657 (+14.3%), from €1.7m to €1.9m
- Financial charges +€99,234
up €99,234 (+730%), from €13,595 to €112,829
of which Financial charges: +€111,734
- Other operating charges +€38,692
up €38,692 (+4.9%), from €792,234 to €830,926
- Gross operating margin -€20,982
down €20,982 (-4.3%), from -€482,473 to -€503,456
- Purchases and services +€20,982
up €20,982 (+4.3%), from €482,473 to €503,456
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,346,712 | €30,648,249 | +€11.3m | +58.4% |
| Fixed assets | 21/28 | €34,236 | €10,005,791 | +€10.0m | +29,126% |
| Tangible fixed assets | 22/27 | €34,236 | €378,385 | +€344,149 | +1,005% |
| Land and buildings | 22 | €34,236 | €365,983 | +€331,747 | +969% |
| Plant, machinery and equipment | 23 | - | €10,006 | +€10,006 | |
| Furniture and vehicles | 24 | €0 | €2,396 | +€2,396 | |
| Financial fixed assets | 28 | - | €9,627,406 | +€9.6m | |
| Current assets | 29/58 | €19,312,476 | €20,642,458 | +€1.3m | +6.9% |
| Amounts receivable after more than one year | 29 | €37,184 | €337,184 | +€300,000 | +807% |
| Trade receivables | 290 | €37,184 | - | -€37,184 | |
| Other amounts receivable | 291 | - | €337,184 | +€337,184 | |
| Current investments | 50/53 | €7,849,225 | €17,275,506 | +€9.4m | +120% |
| Cash at bank and in hand | 54/58 | €11,425,986 | €3,029,109 | -€8.4m | -73.5% |
| Deferred charges and accrued income | 490/1 | €80 | €660 | +€580 | +725% |
| Total equity and liabilities | 10/49 | €19,346,712 | €30,648,249 | +€11.3m | +58.4% |
| Equity | 10/15 | €17,598,019 | €30,367,561 | +€12.8m | +72.6% |
| Reserves | 13 | €14,200,325 | €26,499,977 | +€12.3m | +86.6% |
| Profit (loss) carried forward | 14 | €3,397,694 | €3,867,584 | +€469,890 | +13.8% |
| Amounts payable | 17/49 | €1,748,692 | €280,689 | -€1.5m | -83.9% |
| Amounts payable within one year | 42/48 | €1,527,498 | €0 | -€1.5m | -100% |
| Accrued charges and deferred income | 492/3 | €221,195 | €280,689 | +€59,494 | +26.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €482,473 | €503,456 | +€20,982 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,006 | €8,627 | +€1,621 | +23.1% |
| Other operating charges | 640/8 | €792,234 | €830,926 | +€38,692 | +4.9% |
| Gross operating margin | 9900 | -€482,473 | -€503,456 | -€20,982 | -4.3% |
| Operating profit (loss) | 9901 | -€1,281,713 | -€1,343,009 | -€61,295 | -4.8% |
| Financial income | 75/76B | €1,685,070 | €1,925,727 | +€240,657 | +14.3% |
| Recurring financial income | 75 | €1,685,070 | €1,925,727 | +€240,657 | +14.3% |
| Financial charges | 65/66B | €13,595 | €112,829 | +€99,234 | +730% |
| Recurring financial charges | 65 | €1,095 | €112,829 | +€111,734 | +10,204% |
| Non-recurring financial charges | 66B | €12,500 | €0 | -€12,500 | -100% |
| Profit (loss) for the period before taxes | 9903 | €389,762 | €469,890 | +€80,128 | +20.6% |
| Profit (loss) for the period | 9904 | €389,762 | €469,890 | +€80,128 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €389,762 | €469,890 | +€80,128 | +20.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.