C.D.F.: 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.F.
Largest movements
- Current investments -€75,000
down €75,000 (-100%), from €75,000 to €0
- Cash +€72,566
up €72,566 (+85.9%), from €84,431 to €156,997
mainly Current investments (+€75,000) and Net result for the year (+€70,522)
- Tangible fixed assets +€9,701
up €9,701 (+5.5%), from €175,325 to €185,025
of which Furniture and vehicles: +€15,097
- Receivables within one year -€8,468
down €8,468 (-7.7%), from €109,773 to €101,306
of which Trade receivables: -€7,559
- Reserves +€38,772
up €38,772 (+12.3%), from €316,219 to €354,991
- Trade debts -€28,280
down €28,280 (-49.7%), from €56,918 to €28,638
- Current portion of long-term debt -€11,967
down €11,967 (-42.6%), from €28,120 to €16,153
- Other debts +€11,045
up €11,045 (+191%), from €5,776 to €16,821
- Debts after one year -€9,384
down €9,384 (-100%), from €9,384 to €0
- Taxes -€8,204
down €8,204 (-20.8%), from €39,527 to €31,322
- Other operating charges +€7,597
up €7,597 (+299%), from €2,545 to €10,142
- Staff costs +€5,854
up €5,854 (+28.2%), from €20,766 to €26,619
- Gross operating margin -€3,821
down €3,821 (-1.9%), from €197,114 to €193,292
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.
Derived cash bridge
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 | €450,979 | €452,836 | +€1,858 | +0.4% |
| Fixed assets | 21/28 | €177,814 | €187,514 | +€9,701 | +5.5% |
| Tangible fixed assets | 22/27 | €175,325 | €185,025 | +€9,701 | +5.5% |
| Plant, machinery and equipment | 23 | €11,247 | €7,989 | -€3,257 | -29.0% |
| Furniture and vehicles | 24 | €154,578 | €169,676 | +€15,097 | +9.8% |
| Other tangible fixed assets | 26 | €9,500 | €7,360 | -€2,139 | -22.5% |
| Financial fixed assets | 28 | €2,489 | €2,489 | = | 0.0% |
| Current assets | 29/58 | €273,165 | €265,322 | -€7,843 | -2.9% |
| Amounts receivable within one year | 40/41 | €109,773 | €101,306 | -€8,468 | -7.7% |
| Trade receivables | 40 | €92,159 | €84,600 | -€7,559 | -8.2% |
| Other amounts receivable | 41 | €17,615 | €16,705 | -€909 | -5.2% |
| Current investments | 50/53 | €75,000 | €0 | -€75,000 | -100% |
| Cash at bank and in hand | 54/58 | €84,431 | €156,997 | +€72,566 | +85.9% |
| Deferred charges and accrued income | 490/1 | €3,961 | €7,019 | +€3,058 | +77.2% |
| Total equity and liabilities | 10/49 | €450,979 | €452,836 | +€1,858 | +0.4% |
| Equity | 10/15 | €336,219 | €374,991 | +€38,772 | +11.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €316,219 | €354,991 | +€38,772 | +12.3% |
| Distributable reserves | 133 | €316,219 | €354,991 | +€38,772 | +12.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €114,760 | €77,846 | -€36,914 | -32.2% |
| Amounts payable after more than one year | 17 | €9,384 | €0 | -€9,384 | -100% |
| Financial debts | 170/4 | €9,384 | €0 | -€9,384 | -100% |
| Amounts payable within one year | 42/48 | €105,376 | €77,846 | -€27,531 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €28,120 | €16,153 | -€11,967 | -42.6% |
| Financial debts | 43 | - | €192 | +€192 | |
| Credit institutions | 430/8 | - | €192 | +€192 | |
| Trade debts | 44 | €56,918 | €28,638 | -€28,280 | -49.7% |
| Suppliers | 440/4 | €56,918 | €28,638 | -€28,280 | -49.7% |
| Taxes, remuneration and social security | 45 | €14,562 | €16,041 | +€1,480 | +10.2% |
| Taxes | 450/3 | €11,526 | €11,604 | +€78 | +0.7% |
| Remuneration and social security | 454/9 | €3,036 | €4,437 | +€1,402 | +46.2% |
| Other amounts payable | 47/48 | €5,776 | €16,821 | +€11,045 | +191% |
| Remuneration, social security and pensions | 62 | €20,766 | €26,619 | +€5,854 | +28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,307 | €50,055 | +€1,748 | +3.6% |
| Other operating charges | 640/8 | €2,545 | €10,142 | +€7,597 | +299% |
| Non-recurring operating charges | 66A | €5,732 | €0 | -€5,732 | -100% |
| Gross operating margin | 9900 | €197,114 | €193,292 | -€3,821 | -1.9% |
| Operating profit (loss) | 9901 | €119,765 | €106,476 | -€13,289 | -11.1% |
| Financial income | 75/76B | €1 | €951 | +€950 | +104,407% |
| Recurring financial income | 75 | €1 | €951 | +€950 | +104,407% |
| Financial charges | 65/66B | €7,260 | €5,583 | -€1,677 | -23.1% |
| Recurring financial charges | 65 | €7,260 | €5,583 | -€1,677 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €112,506 | €101,845 | -€10,662 | -9.5% |
| Income taxes | 67/77 | €39,527 | €31,322 | -€8,204 | -20.8% |
| Profit (loss) for the period | 9904 | €72,980 | €70,522 | -€2,457 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,980 | €70,522 | -€2,457 | -3.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.