C.S.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.
C.S.D.P.
Largest movements
- Deferred charges and accrued income -€52,642
down €52,642 (-99.0%), from €53,153 to €511
- Cash +€13,456
up €13,456 (+132%), from €10,227 to €23,683
mainly Deferred charges and accrued income (+€52,642) and Trade debts (+€8,696)
- Tangible fixed assets -€1,873
down €1,873 (-49.2%), from €3,803 to €1,930
- Reserves -€118,261
down €118,261 (-73.2%), from €161,489 to €43,228
of which Distributable reserves: -€118,261
- Profit (loss) carried forward +€54,681
no longer reported in 2025 (was -€54,681)
- Trade debts +€8,696
up €8,696 (+343%), from €2,535 to €11,230
- Tax, wage and social debts +€7,497
up €7,497 (+2,151%), from €349 to €7,846
of which Taxes: +€7,846
- Other debts +€6,688
up €6,688 (+112%), from €5,957 to €12,645
- Other operating charges +€45,194
up €45,194 (+334%), from €13,534 to €58,728
- Taxes +€14,805
new in 2025: €14,805
- Gross operating margin +€7,758
up €7,758 (+113%), from €6,839 to €14,597
- Depreciation -€1,913
down €1,913 (-38.3%), from €4,995 to €3,082
- Financial charges +€387
up €387 (+32.8%), from €1,177 to €1,563
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 | €134,248 | €93,549 | -€40,699 | -30.3% |
| Fixed assets | 21/28 | €4,163 | €1,930 | -€2,233 | -53.6% |
| Tangible fixed assets | 22/27 | €3,803 | €1,930 | -€1,873 | -49.2% |
| Furniture and vehicles | 24 | €3,803 | €1,930 | -€1,873 | -49.2% |
| Financial fixed assets | 28 | €360 | - | -€360 | |
| Current assets | 29/58 | €130,085 | €91,619 | -€38,466 | -29.6% |
| Amounts receivable within one year | 40/41 | €66,704 | €67,424 | +€720 | +1.1% |
| Trade receivables | 40 | €10,907 | €18,909 | +€8,002 | +73.4% |
| Other amounts receivable | 41 | €55,797 | €48,515 | -€7,282 | -13.1% |
| Cash at bank and in hand | 54/58 | €10,227 | €23,683 | +€13,456 | +132% |
| Deferred charges and accrued income | 490/1 | €53,153 | €511 | -€52,642 | -99.0% |
| Total equity and liabilities | 10/49 | €134,248 | €93,549 | -€40,699 | -30.3% |
| Equity | 10/15 | €125,408 | €61,828 | -€63,580 | -50.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €161,489 | €43,228 | -€118,261 | -73.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €159,629 | €41,368 | -€118,261 | -74.1% |
| Profit (loss) carried forward | 14 | -€54,681 | - | +€54,681 | |
| Amounts payable | 17/49 | €8,840 | €31,721 | +€22,881 | +259% |
| Amounts payable within one year | 42/48 | €8,840 | €31,721 | +€22,881 | +259% |
| Trade debts | 44 | €2,535 | €11,230 | +€8,696 | +343% |
| Suppliers | 440/4 | €2,535 | €11,230 | +€8,696 | +343% |
| Taxes, remuneration and social security | 45 | €349 | €7,846 | +€7,497 | +2,151% |
| Taxes | 450/3 | - | €7,846 | +€7,846 | |
| Remuneration and social security | 454/9 | €349 | - | -€349 | |
| Other amounts payable | 47/48 | €5,957 | €12,645 | +€6,688 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,995 | €3,082 | -€1,913 | -38.3% |
| Other operating charges | 640/8 | €13,534 | €58,728 | +€45,194 | +334% |
| Gross operating margin | 9900 | €6,839 | €14,597 | +€7,758 | +113% |
| Operating profit (loss) | 9901 | -€11,690 | -€47,212 | -€35,523 | -304% |
| Financial charges | 65/66B | €1,177 | €1,563 | +€387 | +32.8% |
| Recurring financial charges | 65 | €1,177 | €1,563 | +€387 | +32.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,866 | -€48,775 | -€35,909 | -279% |
| Income taxes | 67/77 | - | €14,805 | +€14,805 | |
| Profit (loss) for the period | 9904 | -€12,866 | -€63,580 | -€50,714 | -394% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,866 | -€63,580 | -€50,714 | -394% |
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 30 October 2026 via checked.be.