C.D.S.D.: 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.S.D.
Largest movements
- Tangible fixed assets -€16,055
down €16,055 (-1.2%), from €1.3m to €1.3m
- Cash +€15,776
up €15,776 (+73.1%), from €21,569 to €37,345
mainly Depreciation (+€85,867) and Net result for the year (+€71,960)
- Profit (loss) carried forward +€72,115
up €72,115, from -€36,290 to €35,824
- Debts after one year -€36,550
down €36,550 (-25.0%), from €145,921 to €109,371
- Other debts -€21,766
down €21,766 (-2.9%), from €754,853 to €733,086
- Reserves -€16,154
down €16,154 (-6.1%), from €264,022 to €247,868
of which Tax-exempt reserves: -€16,154
- Gross operating margin -€71,253
down €71,253 (-27.4%), from €260,107 to €188,853
- Taxes +€9,985
up €9,985 (+401,000%), from €2 to €9,987
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 | €1,361,701 | €1,358,408 | -€3,293 | -0.2% |
| Fixed assets | 21/28 | €1,337,119 | €1,321,063 | -€16,055 | -1.2% |
| Tangible fixed assets | 22/27 | €1,326,211 | €1,310,156 | -€16,055 | -1.2% |
| Land and buildings | 22 | €1,326,211 | €1,310,156 | -€16,055 | -1.2% |
| Financial fixed assets | 28 | €10,907 | €10,907 | = | 0.0% |
| Current assets | 29/58 | €24,582 | €37,345 | +€12,763 | +51.9% |
| Amounts receivable within one year | 40/41 | €3,013 | - | -€3,013 | |
| Other amounts receivable | 41 | €3,013 | - | -€3,013 | |
| Cash at bank and in hand | 54/58 | €21,569 | €37,345 | +€15,776 | +73.1% |
| Total equity and liabilities | 10/49 | €1,361,701 | €1,358,408 | -€3,293 | -0.2% |
| Equity | 10/15 | €289,705 | €345,665 | +€55,960 | +19.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €264,022 | €247,868 | -€16,154 | -6.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €257,825 | €241,671 | -€16,154 | -6.3% |
| Profit (loss) carried forward | 14 | -€36,290 | €35,824 | +€72,115 | |
| Provisions and deferred taxes | 16 | €130,331 | €122,013 | -€8,318 | -6.4% |
| Deferred taxes | 168 | €130,331 | €122,013 | -€8,318 | -6.4% |
| Amounts payable | 17/49 | €941,664 | €890,729 | -€50,935 | -5.4% |
| Amounts payable after more than one year | 17 | €145,921 | €109,371 | -€36,550 | -25.0% |
| Financial debts | 170/4 | €145,921 | €109,371 | -€36,550 | -25.0% |
| Amounts payable within one year | 42/48 | €794,320 | €780,790 | -€13,530 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €35,455 | €36,550 | +€1,095 | +3.1% |
| Trade debts | 44 | €3,512 | €667 | -€2,845 | -81.0% |
| Suppliers | 440/4 | €3,512 | €667 | -€2,845 | -81.0% |
| Taxes, remuneration and social security | 45 | €500 | €10,487 | +€9,987 | +1,997% |
| Taxes | 450/3 | €500 | €10,487 | +€9,987 | +1,997% |
| Other amounts payable | 47/48 | €754,853 | €733,086 | -€21,766 | -2.9% |
| Accrued charges and deferred income | 492/3 | €1,423 | €568 | -€855 | -60.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,715 | €85,867 | +€1,152 | +1.4% |
| Other operating charges | 640/8 | €22,166 | €22,899 | +€733 | +3.3% |
| Gross operating margin | 9900 | €260,107 | €188,853 | -€71,253 | -27.4% |
| Operating profit (loss) | 9901 | €153,226 | €80,088 | -€73,138 | -47.7% |
| Financial income | 75/76B | €45 | €3 | -€42 | -93.8% |
| Recurring financial income | 75 | €45 | €3 | -€42 | -93.8% |
| Financial charges | 65/66B | €7,937 | €6,461 | -€1,476 | -18.6% |
| Recurring financial charges | 65 | €7,937 | €6,461 | -€1,476 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €145,334 | €73,630 | -€71,704 | -49.3% |
| Transfer from deferred taxes | 780 | €8,318 | €8,318 | = | 0.0% |
| Income taxes | 67/77 | €2 | €9,987 | +€9,985 | +401,000% |
| Profit (loss) for the period | 9904 | €153,650 | €71,960 | -€81,689 | -53.2% |
| Transfer from tax-exempt reserves | 789 | €16,154 | €16,154 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €169,804 | €88,115 | -€81,689 | -48.1% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.