C.D. Direct: 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.
C.D. Direct
Largest movements
- Cash -€141,120
down €141,120 (-77.2%), from €182,911 to €41,791
mainly Net result for the year (-€67,697) and Investment in fixed assets (net) (-€48,957)
- Tangible fixed assets +€28,991
up €28,991 (+13.7%), from €210,845 to €239,836
of which Furniture and vehicles: +€31,775
- Receivables within one year -€27,384
down €27,384 (-18.6%), from €147,164 to €119,780
of which Trade receivables: -€51,525
- Profit (loss) carried forward -€67,697
down €67,697 (-54.1%), from -€125,128 to -€192,825
- Advances received -€29,102
no longer reported in 2025 (was €29,102)
- Debts after one year -€25,341
down €25,341 (-13.0%), from €194,275 to €168,934
- Trade debts -€10,145
down €10,145 (-25.5%), from €39,737 to €29,591
- Other debts -€9,123
down €9,123 (-7.2%), from €127,327 to €118,204
- Gross operating margin -€44,082
down €44,082, from €2,024 to -€42,058
- Depreciation +€4,642
up €4,642 (+30.3%), from €15,324 to €19,966
- Other operating charges +€995
up €995 (+76.5%), from €1,300 to €2,295
- Financial charges -€808
down €808 (-7.5%), from €10,834 to €10,026
- Financial income +€686
up €686 (+11.4%), from €6,033 to €6,719
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 | €553,630 | €414,668 | -€138,962 | -25.1% |
| Fixed assets | 21/28 | €223,240 | €252,231 | +€28,991 | +13.0% |
| Tangible fixed assets | 22/27 | €210,845 | €239,836 | +€28,991 | +13.7% |
| Plant, machinery and equipment | 23 | €40,845 | €47,500 | +€6,655 | +16.3% |
| Furniture and vehicles | 24 | €4,141 | €35,917 | +€31,775 | +767.3% |
| Other tangible fixed assets | 26 | €165,860 | €156,420 | -€9,440 | -5.7% |
| Financial fixed assets | 28 | €12,395 | €12,395 | = | 0.0% |
| Current assets | 29/58 | €330,390 | €162,437 | -€167,953 | -50.8% |
| Amounts receivable within one year | 40/41 | €147,164 | €119,780 | -€27,384 | -18.6% |
| Trade receivables | 40 | €62,836 | €11,311 | -€51,525 | -82.0% |
| Other amounts receivable | 41 | €84,329 | €108,469 | +€24,141 | +28.6% |
| Cash at bank and in hand | 54/58 | €182,911 | €41,791 | -€141,120 | -77.2% |
| Deferred charges and accrued income | 490/1 | €315 | €867 | +€552 | +175.1% |
| Total equity and liabilities | 10/49 | €553,630 | €414,668 | -€138,962 | -25.1% |
| Equity | 10/15 | -€14,471 | -€82,167 | -€67,697 | -467.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €49,157 | €49,157 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €42,960 | €42,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€125,128 | -€192,825 | -€67,697 | -54.1% |
| Provisions and deferred taxes | 16 | €147,505 | €147,505 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €147,505 | €147,505 | = | 0.0% |
| Pensions and similar obligations | 160 | €147,505 | €147,505 | = | 0.0% |
| Amounts payable | 17/49 | €420,596 | €349,330 | -€71,265 | -16.9% |
| Amounts payable after more than one year | 17 | €194,275 | €168,934 | -€25,341 | -13.0% |
| Financial debts | 170/4 | €194,275 | €168,934 | -€25,341 | -13.0% |
| Amounts payable within one year | 42/48 | €225,601 | €179,716 | -€45,885 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €24,953 | €25,341 | +€387 | +1.6% |
| Trade debts | 44 | €39,737 | €29,591 | -€10,145 | -25.5% |
| Suppliers | 440/4 | €39,737 | €29,591 | -€10,145 | -25.5% |
| Advances received on contracts in progress | 46 | €29,102 | - | -€29,102 | |
| Taxes, remuneration and social security | 45 | €4,482 | €6,580 | +€2,099 | +46.8% |
| Taxes | 450/3 | €4,482 | €6,580 | +€2,099 | +46.8% |
| Other amounts payable | 47/48 | €127,327 | €118,204 | -€9,123 | -7.2% |
| Accrued charges and deferred income | 492/3 | €719 | €679 | -€40 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,324 | €19,966 | +€4,642 | +30.3% |
| Other operating charges | 640/8 | €1,300 | €2,295 | +€995 | +76.5% |
| Gross operating margin | 9900 | €2,024 | -€42,058 | -€44,082 | |
| Operating profit (loss) | 9901 | -€14,601 | -€64,320 | -€49,719 | -340.5% |
| Financial income | 75/76B | €6,033 | €6,719 | +€686 | +11.4% |
| Recurring financial income | 75 | €6,033 | €6,719 | +€686 | +11.4% |
| Financial charges | 65/66B | €10,834 | €10,026 | -€808 | -7.5% |
| Recurring financial charges | 65 | €10,834 | €10,026 | -€808 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€19,402 | -€67,627 | -€48,225 | -248.6% |
| Income taxes | 67/77 | - | €70 | +€70 | |
| Profit (loss) for the period | 9904 | -€19,402 | -€67,697 | -€48,295 | -248.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,402 | -€67,697 | -€48,295 | -248.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.