C.D.L.: 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.L.
Largest movements
- Current investments +€169,167
up €169,167 (+47.1%), from €359,469 to €528,637
- Deferred charges and accrued income -€112,872
down €112,872 (-97.8%), from €115,423 to €2,551
- Stocks and contracts -€23,865
down €23,865 (-18.1%), from €132,202 to €108,337
- Tangible fixed assets -€12,863
down €12,863 (-23.9%), from €53,883 to €41,020
of which Furniture and vehicles: -€8,310
- Accrued charges and deferred income -€51,870
down €51,870 (-100%), from €51,870 to €0
- Tax, wage and social debts +€49,770
up €49,770 (+275%), from €18,087 to €67,857
of which Taxes: +€47,770
- Reserves +€49,606
up €49,606 (+12.9%), from €383,244 to €432,850
of which Distributable reserves: +€49,606
- Debts after one year -€41,336
down €41,336 (-54.6%), from €75,673 to €34,337
- Short-term financial debts +€26,500
up €26,500 (+45.4%), from €58,336 to €84,836
- Financial income +€132,695
up €132,695 (+296%), from €44,869 to €177,565
- Gross operating margin +€55,783
up €55,783 (+111%), from €50,355 to €106,138
- Taxes +€51,625
up €51,625 (+230%), from €22,429 to €74,054
- Financial charges +€46,898
up €46,898 (+527%), from €8,895 to €55,793
- Other operating charges +€37,189
up €37,189 (+450%), from €8,273 to €45,462
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 | €699,491 | €721,047 | +€21,556 | +3.1% |
| Fixed assets | 21/28 | €53,957 | €41,094 | -€12,863 | -23.8% |
| Tangible fixed assets | 22/27 | €53,883 | €41,020 | -€12,863 | -23.9% |
| Land and buildings | 22 | €44,049 | €38,356 | -€5,693 | -12.9% |
| Plant, machinery and equipment | 23 | €1,524 | €2,664 | +€1,141 | +74.9% |
| Furniture and vehicles | 24 | €8,310 | €0 | -€8,310 | -100% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €645,534 | €679,953 | +€34,419 | +5.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €132,202 | €108,337 | -€23,865 | -18.1% |
| Stocks | 30/36 | €132,202 | €108,337 | -€23,865 | -18.1% |
| Amounts receivable within one year | 40/41 | €32,612 | €33,290 | +€678 | +2.1% |
| Trade receivables | 40 | €30,588 | €26,691 | -€3,897 | -12.7% |
| Other amounts receivable | 41 | €2,025 | €6,600 | +€4,575 | +226% |
| Current investments | 50/53 | €359,469 | €528,637 | +€169,167 | +47.1% |
| Cash at bank and in hand | 54/58 | €5,827 | €7,137 | +€1,310 | +22.5% |
| Deferred charges and accrued income | 490/1 | €115,423 | €2,551 | -€112,872 | -97.8% |
| Total equity and liabilities | 10/49 | €699,491 | €721,047 | +€21,556 | +3.1% |
| Equity | 10/15 | €438,098 | €487,704 | +€49,606 | +11.3% |
| Contributions | 10/11 | €54,854 | €54,854 | = | 0.0% |
| Reserves | 13 | €383,244 | €432,850 | +€49,606 | +12.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €383,244 | €432,850 | +€49,606 | +12.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €261,392 | €233,343 | -€28,050 | -10.7% |
| Amounts payable after more than one year | 17 | €75,673 | €34,337 | -€41,336 | -54.6% |
| Financial debts | 170/4 | €75,673 | €34,337 | -€41,336 | -54.6% |
| Amounts payable within one year | 42/48 | €133,850 | €199,006 | +€65,156 | +48.7% |
| Current portion of amounts payable after more than one year | 42 | €39,916 | €41,336 | +€1,420 | +3.6% |
| Financial debts | 43 | €58,336 | €84,836 | +€26,500 | +45.4% |
| Credit institutions | 430/8 | €58,336 | €84,836 | +€26,500 | +45.4% |
| Trade debts | 44 | €15,126 | €2,567 | -€12,559 | -83.0% |
| Suppliers | 440/4 | €15,126 | €2,567 | -€12,559 | -83.0% |
| Taxes, remuneration and social security | 45 | €18,087 | €67,857 | +€49,770 | +275% |
| Taxes | 450/3 | €18,087 | €65,857 | +€47,770 | +264% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €2,385 | €2,410 | +€25 | +1.0% |
| Accrued charges and deferred income | 492/3 | €51,870 | €0 | -€51,870 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,231 | €6,342 | -€9,889 | -60.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,500 | €2,445 | +€945 | +63.0% |
| Other operating charges | 640/8 | €8,273 | €45,462 | +€37,189 | +450% |
| Gross operating margin | 9900 | €50,355 | €106,138 | +€55,783 | +111% |
| Operating profit (loss) | 9901 | €24,351 | €51,889 | +€27,537 | +113% |
| Financial income | 75/76B | €44,869 | €177,565 | +€132,695 | +296% |
| Recurring financial income | 75 | €44,869 | €177,565 | +€132,695 | +296% |
| Financial charges | 65/66B | €8,895 | €55,793 | +€46,898 | +527% |
| Recurring financial charges | 65 | €8,895 | €55,793 | +€46,898 | +527% |
| Profit (loss) for the period before taxes | 9903 | €60,326 | €173,660 | +€113,334 | +188% |
| Income taxes | 67/77 | €22,429 | €74,054 | +€51,625 | +230% |
| Profit (loss) for the period | 9904 | €37,897 | €99,606 | +€61,709 | +163% |
| Profit (loss) for the period to be appropriated | 9905 | €37,897 | €99,606 | +€61,709 | +163% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.