Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 33 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
KADONATION from Gent, company number BE0666820362, closed financial year 2025 with a result of € -893,387 after tax. For that financial year KADONATION recorded revenue of € 16 million and equity of € -3.6 million. Compared with financial year 2024, the result moved from € -952,972 to € -893,387. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 30, 2025.
€ -3.6 million
▼ € 893,387 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -893,387
▲ 6 % less loss than in 2024
Profit after tax over the fiscal year.
€ 1 million
▼ 43% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -4.7 million.
People and assets in 2025
26.2
▼ 0.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.8 million
▼ 9% vs 2024
€ 69,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 35,513
▲ 27% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.1 million
▼ 28% vs 2024
Loans from banks and other lenders, long and short.
€ 982,936
▼ 31% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 23 days on average.
€ 288,047
▼ 11% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | - | € 15,995,251 | |
| Gross margin | € 892,262 | € 647,347 | € 1,571,985 | - | |
| Profit after taxes | € -654,494 | € -1,748,879 | € -952,972 | € -893,387 | ▲ € 59,585 |
| Equity | € 27,337 | € -1,721,542 | € -2,674,514 | € -3,567,901 | ▼ € 893,387 |
| Total debts | € 4,699,441 | € 5,847,180 | € 10,872,976 | € 9,228,157 | ▼ 15% |
| Cash | € 2,368,076 | € 1,566,252 | € 1,838,821 | € 1,045,042 | ▼ 43% |
| Retained profit | € -1,109,272 | € -2,858,150 | € -3,811,122 | € -4,704,509 | ▼ € 893,387 |
| Bank debt | € 832,894 | € 871,012 | € 2,850,837 | € 2,055,326 | ▼ 28% |
| Balance sheet total | € 4,726,778 | € 4,125,639 | € 8,198,462 | € 5,660,256 | ▼ 31% |
| Employees (FTE) | 17.3 | 25 | 26.8 | 26.2 | ▼ 0.6 |
Key figures of KADONATION, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 October 2026.
What happened to KADONATION?
What happened at KADONATION in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Soveev BV stepped down as director. NBB
- Luc Van Mol stepped down as director. NBB
- Harry Demey stepped down as director. NBB
- Smilemore CommV stepped down as director. NBB
- Rogier Verbruggen stepped down as director. NBB
- Merisco BV stepped down as director. NBB
- Kwokka BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 893,387. Source: NBB ↗
In short
From € 654,494 loss in 2022 to € 893,387 loss in 2025.
Paid € 1,540 in corporate taxes since 2022.
On average € 58,700 of value added per employee in 2024.
Pays suppliers within 23 days on average.
Management
Directors
According to the 2025 annual accounts
Director · represented by Jelle VAN ROOSBROECK
since 2022 · until 2029
Luc Van Mol
Director
Also active at: De Volder & Co., Garage Van der Smissen, CREAGEN, LAST FRONTIER, WASKO, LUKA, VMF URBAN LIVING, EVEREST URBAN LIVING +7 more
since 2017 · until 2029
Harry Demey
Director
since 2017 · until 2029
Managing director · represented by Fabrice Guillermin
since 2021 · until 2029
since 2017 · until 2029
Director · represented by Guido Beazar
Also active at: ZORGI, Sylvester Productions, SYLVESTER EVENTS, SYLVESTER TV, REVOLT, Mauhn, IS4CARE, In4Care +2 more
since 2019 · until 2029
Director · represented by Sven DE LANGHE
since 2022 · until 2029
Establishments
Establishment units
Physical locations of this company
Gordunakaai 61
9000 Gent
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Google Workspace
Hosting
CLOUDFLARENET - Cloudflare, Inc., US
DNS
Cloudflare DNS
Domain
Domain
kadonation.com
Registered
2014-11-09
Registrar
Cloudflare, Inc.
Expires
2026-11-09
Website info
Features
Security
Network
Details
- Company number
- 0666.820.362
- VAT number
- BE 0666.820.362
- Registered office
- Gordunakaai 61, 9000 Gent
- Names & denominations
- KADONATION · KDN
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 November 2016
- Peppol
- Active · Active since 19 Oct 2026
- Contact
- kadonation.com
- Activities · NACE
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