C.D.P.: 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.
What changed
C.D.P.
NACE 73.110, Advertising agencies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€110,785
2024 · €114,910-€4,126
Equity
€1.0m
2024 · €927,152+€109,119
Cash
€102
2024 · €1,142-€1,040
Balance sheet total
€1.7m
2024 · €1.7m-€61,497
Largest movements
Assets
- Tangible fixed assets -€43,326
down €43,326 (-5.8%), from €749,751 to €706,425
of which Land and buildings: -€32,327
Equity and liabilities
- Debts after one year -€150,734
down €150,734 (-29.7%), from €508,004 to €357,270
- Reserves +€110,785
up €110,785 (+19.3%), from €575,392 to €686,177
of which Distributable reserves: +€114,845
- Tax, wage and social debts -€30,980
down €30,980 (-41.3%), from €74,931 to €43,951
Income statement
- Financial income -€2,312
down €2,312 (-8.2%), from €28,326 to €26,014
of which Financial income: -€2,312
- Gross operating margin -€2,216
down €2,216 (-1.1%), from €209,047 to €206,831
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.
Result 2024
€114,910
Gross operating margin
-€2,216
Depreciation
-€565
Other operating charges
-€678
Financial income
-€2,312
Financial charges
-€164
Taxes
+€1,810
Result 2025
€110,785
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.
From operations
+€143,439
Investment
-€2,751
Financing
-€141,728
Cash 2024
€1,142
From operations (derived)
+€143,439
Net result for the year
+€110,785
Depreciation
+€46,077
Receivables after one year
-€69
Receivables within one year
+€16,202
Deferred charges and accrued income
+€998
Provisions
-€1,353
Trade debts
+€1,780
Tax, wage and social debts
-€30,980
Investment (derived)
-€2,751
Investment in fixed assets (net)
-€2,751
Financing
-€141,728
Debts after one year
-€150,734
Current portion of long-term debt
-€3,794
Short-term financial debts
+€14,465
Contributions, distributions and other
-€1,666
Cash 2025
€102
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,716,684 | €1,655,186 | -€61,497 | -3.6% |
| Fixed assets | 21/28 | €868,751 | €825,425 | -€43,326 | -5.0% |
| Tangible fixed assets | 22/27 | €749,751 | €706,425 | -€43,326 | -5.8% |
| Land and buildings | 22 | €722,520 | €690,193 | -€32,327 | -4.5% |
| Plant, machinery and equipment | 23 | - | €1,330 | +€1,330 | |
| Furniture and vehicles | 24 | €20,173 | €14,902 | -€5,272 | -26.1% |
| Leasing and similar rights | 25 | €7,058 | €0 | -€7,058 | -100.0% |
| Financial fixed assets | 28 | €119,000 | €119,000 | = | 0.0% |
| Current assets | 29/58 | €847,932 | €829,761 | -€18,171 | -2.1% |
| Amounts receivable after more than one year | 29 | €300,788 | €300,856 | +€69 | 0.0% |
| Other amounts receivable | 291 | €300,788 | €300,856 | +€69 | 0.0% |
| Amounts receivable within one year | 40/41 | €523,837 | €507,635 | -€16,202 | -3.1% |
| Trade receivables | 40 | €124,872 | €37,624 | -€87,248 | -69.9% |
| Other amounts receivable | 41 | €398,965 | €470,011 | +€71,046 | +17.8% |
| Cash at bank and in hand | 54/58 | €1,142 | €102 | -€1,040 | -91.1% |
| Deferred charges and accrued income | 490/1 | €22,165 | €21,168 | -€998 | -4.5% |
| Total equity and liabilities | 10/49 | €1,716,684 | €1,655,186 | -€61,497 | -3.6% |
| Equity | 10/15 | €927,152 | €1,036,270 | +€109,119 | +11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €575,392 | €686,177 | +€110,785 | +19.3% |
| Tax-exempt reserves | 132 | €87,635 | €83,575 | -€4,060 | -4.6% |
| Distributable reserves | 133 | €487,757 | €602,602 | +€114,845 | +23.5% |
| Profit (loss) carried forward | 14 | €345,560 | €343,894 | -€1,666 | -0.5% |
| Provisions and deferred taxes | 16 | €29,212 | €27,858 | -€1,353 | -4.6% |
| Deferred taxes | 168 | €29,212 | €27,858 | -€1,353 | -4.6% |
| Amounts payable | 17/49 | €760,320 | €591,058 | -€169,263 | -22.3% |
| Amounts payable after more than one year | 17 | €508,004 | €357,270 | -€150,734 | -29.7% |
| Financial debts | 170/4 | €508,004 | €357,270 | -€150,734 | -29.7% |
| Amounts payable within one year | 42/48 | €252,316 | €233,787 | -€18,529 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €167,293 | €163,500 | -€3,794 | -2.3% |
| Financial debts | 43 | €0 | €14,465 | +€14,465 | |
| Credit institutions | 430/8 | €0 | €14,465 | +€14,465 | |
| Trade debts | 44 | €8,426 | €10,206 | +€1,780 | +21.1% |
| Suppliers | 440/4 | €8,426 | €10,206 | +€1,780 | +21.1% |
| Taxes, remuneration and social security | 45 | €74,931 | €43,951 | -€30,980 | -41.3% |
| Taxes | 450/3 | €74,931 | €43,951 | -€30,980 | -41.3% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,512 | €46,077 | +€565 | +1.2% |
| Other operating charges | 640/8 | €8,119 | €8,796 | +€678 | +8.3% |
| Gross operating margin | 9900 | €209,047 | €206,831 | -€2,216 | -1.1% |
| Operating profit (loss) | 9901 | €155,416 | €151,958 | -€3,458 | -2.2% |
| Financial income | 75/76B | €28,326 | €26,014 | -€2,312 | -8.2% |
| Recurring financial income | 75 | €28,326 | €26,014 | -€2,312 | -8.2% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €17,365 | €17,530 | +€164 | +0.9% |
| Recurring financial charges | 65 | €17,365 | €17,530 | +€164 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €166,377 | €160,442 | -€5,935 | -3.6% |
| Transfer from deferred taxes | 780 | €1,353 | €1,353 | = | 0.0% |
| Income taxes | 67/77 | €52,820 | €51,011 | -€1,810 | -3.4% |
| Profit (loss) for the period | 9904 | €114,910 | €110,785 | -€4,126 | -3.6% |
| Transfer from tax-exempt reserves | 789 | €4,060 | €4,060 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €118,971 | €114,845 | -€4,126 | -3.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.