C.D'Ex: 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.
C.D'Ex
Largest movements
- Cash -€33,970
down €33,970 (-43.7%), from €77,744 to €43,774
mainly Investment in fixed assets (net) (-€43,555) and Other debts (-€13,840)
- Tangible fixed assets +€23,062
up €23,062 (+136.8%), from €16,861 to €39,923
- Stocks and contracts +€13,837
new in 2025: €13,837
- Receivables within one year +€8,487
up €8,487 (+145.6%), from €5,827 to €14,313
of which Other amounts receivable: +€5,437
- Intangible fixed assets -€1,824
down €1,824 (-5.5%), from €33,274 to €31,450
- Other debts -€13,840
no longer reported in 2025 (was €13,840)
- Profit (loss) carried forward +€11,389
up €11,389 (+14.9%), from €76,361 to €87,749
- Trade debts +€10,304
up €10,304 (+57.8%), from €17,841 to €28,145
- Tax, wage and social debts +€10,033
up €10,033 (+235.5%), from €4,259 to €14,292
- Short-term financial debts -€8,294
no longer reported in 2025 (was €8,294)
- Turnover -€11,797
down €11,797 (-10.4%), from €113,856 to €102,058
- Gross operating margin -€6,924
down €6,924 (-12.0%), from €57,674 to €50,751
- Depreciation +€4,385
up €4,385 (+24.5%), from €17,932 to €22,317
- Other operating charges +€2,134
up €2,134 (+66.3%), from €3,217 to €5,350
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 | €134,155 | €143,747 | +€9,592 | +7.1% |
| Fixed assets | 21/28 | €50,585 | €71,823 | +€21,238 | +42.0% |
| Intangible fixed assets | 21 | €33,274 | €31,450 | -€1,824 | -5.5% |
| Tangible fixed assets | 22/27 | €16,861 | €39,923 | +€23,062 | +136.8% |
| Furniture and vehicles | 24 | €16,861 | €39,923 | +€23,062 | +136.8% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €83,570 | €71,924 | -€11,646 | -13.9% |
| Stocks and contracts in progress | 3 | - | €13,837 | +€13,837 | |
| Stocks | 30/36 | - | €13,837 | +€13,837 | |
| Amounts receivable within one year | 40/41 | €5,827 | €14,313 | +€8,487 | +145.6% |
| Trade receivables | 40 | €2,060 | €5,109 | +€3,049 | +148.0% |
| Other amounts receivable | 41 | €3,767 | €9,204 | +€5,437 | +144.3% |
| Cash at bank and in hand | 54/58 | €77,744 | €43,774 | -€33,970 | -43.7% |
| Total equity and liabilities | 10/49 | €134,155 | €143,747 | +€9,592 | +7.1% |
| Equity | 10/15 | €89,921 | €101,309 | +€11,389 | +12.7% |
| Contributions | 10/11 | €11,700 | €11,700 | = | 0.0% |
| Capital | 10 | €11,700 | €11,700 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,900 | €6,900 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,361 | €87,749 | +€11,389 | +14.9% |
| Amounts payable | 17/49 | €44,234 | €42,437 | -€1,797 | -4.1% |
| Amounts payable within one year | 42/48 | €44,234 | €42,437 | -€1,797 | -4.1% |
| Financial debts | 43 | €8,294 | - | -€8,294 | |
| Credit institutions | 430/8 | €8,294 | - | -€8,294 | |
| Trade debts | 44 | €17,841 | €28,145 | +€10,304 | +57.8% |
| Suppliers | 440/4 | €17,841 | €28,145 | +€10,304 | +57.8% |
| Taxes, remuneration and social security | 45 | €4,259 | €14,292 | +€10,033 | +235.5% |
| Taxes | 450/3 | €4,259 | €14,292 | +€10,033 | +235.5% |
| Other amounts payable | 47/48 | €13,840 | - | -€13,840 | |
| Turnover | 70 | €113,856 | €102,058 | -€11,797 | -10.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €58,879 | €57,805 | -€1,074 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,932 | €22,317 | +€4,385 | +24.5% |
| Other operating charges | 640/8 | €3,217 | €5,350 | +€2,134 | +66.3% |
| Gross operating margin | 9900 | €57,674 | €50,751 | -€6,924 | -12.0% |
| Operating profit (loss) | 9901 | €36,525 | €23,083 | -€13,442 | -36.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €276 | €331 | +€54 | +19.6% |
| Recurring financial charges | 65 | €276 | €331 | +€54 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €36,249 | €22,752 | -€13,497 | -37.2% |
| Income taxes | 67/77 | €10,618 | €11,194 | +€576 | +5.4% |
| Profit (loss) for the period | 9904 | €25,631 | €11,558 | -€14,073 | -54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,631 | €11,558 | -€14,073 | -54.9% |
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 11 October 2026 via checked.be.