CBDO: 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.
CBDO
Largest movements
- Receivables within one year -€152,365
down €152,365 (-41.2%), from €369,445 to €217,080
of which Other amounts receivable: -€110,511
- Stocks and contracts +€22,650
up €22,650 (+12.3%), from €184,011 to €206,661
- Other debts +€287,124
up €287,124 (+7,425%), from €3,867 to €290,991
- Trade debts -€127,205
down €127,205 (-29.3%), from €433,774 to €306,570
- Accrued charges and deferred income -€125,425
down €125,425 (-100%), from €125,425 to €0
- Profit (loss) carried forward -€111,230
down €111,230 (-60.1%), from -€185,175 to -€296,405
- Tax, wage and social debts -€40,642
down €40,642 (-60.6%), from €67,094 to €26,452
of which Remuneration and social security: -€30,111
- Staff costs -€32,005
down €32,005 (-68.9%), from €46,420 to €14,415
- Gross operating margin +€31,322
up €31,322 (+36.7%), from -€85,444 to -€54,121
- Other operating charges +€23,510
up €23,510 (+187%), from €12,566 to €36,076
- Financial income +€4,125
up €4,125 (+1,454%), from €284 to €4,409
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 | €562,371 | €431,809 | -€130,562 | -23.2% |
| Fixed assets | 21/28 | €8,377 | €6,559 | -€1,818 | -21.7% |
| Tangible fixed assets | 22/27 | €8,377 | €6,559 | -€1,818 | -21.7% |
| Plant, machinery and equipment | 23 | €8,377 | €6,559 | -€1,818 | -21.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €553,994 | €425,250 | -€128,744 | -23.2% |
| Stocks and contracts in progress | 3 | €184,011 | €206,661 | +€22,650 | +12.3% |
| Stocks | 30/36 | €184,011 | €206,661 | +€22,650 | +12.3% |
| Amounts receivable within one year | 40/41 | €369,445 | €217,080 | -€152,365 | -41.2% |
| Trade receivables | 40 | €64,864 | €23,011 | -€41,853 | -64.5% |
| Other amounts receivable | 41 | €304,580 | €194,069 | -€110,511 | -36.3% |
| Cash at bank and in hand | 54/58 | €430 | €1,401 | +€971 | +226% |
| Deferred charges and accrued income | 490/1 | €108 | €108 | = | 0.0% |
| Total equity and liabilities | 10/49 | €562,371 | €431,809 | -€130,562 | -23.2% |
| Equity | 10/15 | -€164,715 | -€275,945 | -€111,230 | -67.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€185,175 | -€296,405 | -€111,230 | -60.1% |
| Amounts payable | 17/49 | €727,086 | €707,754 | -€19,332 | -2.7% |
| Amounts payable after more than one year | 17 | €82,112 | €67,434 | -€14,678 | -17.9% |
| Financial debts | 170/4 | €82,112 | €67,434 | -€14,678 | -17.9% |
| Amounts payable within one year | 42/48 | €519,549 | €640,320 | +€120,771 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €14,251 | €14,678 | +€426 | +3.0% |
| Financial debts | 43 | €562 | €1,630 | +€1,067 | +190% |
| Credit institutions | 430/8 | €562 | €1,630 | +€1,067 | +190% |
| Trade debts | 44 | €433,774 | €306,570 | -€127,205 | -29.3% |
| Suppliers | 440/4 | €433,774 | €306,570 | -€127,205 | -29.3% |
| Taxes, remuneration and social security | 45 | €67,094 | €26,452 | -€40,642 | -60.6% |
| Taxes | 450/3 | €33,525 | €22,994 | -€10,531 | -31.4% |
| Remuneration and social security | 454/9 | €33,569 | €3,458 | -€30,111 | -89.7% |
| Other amounts payable | 47/48 | €3,867 | €290,991 | +€287,124 | +7,425% |
| Accrued charges and deferred income | 492/3 | €125,425 | €0 | -€125,425 | -100% |
| Remuneration, social security and pensions | 62 | €46,420 | €14,415 | -€32,005 | -68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,085 | €1,818 | -€267 | -12.8% |
| Other operating charges | 640/8 | €12,566 | €36,076 | +€23,510 | +187% |
| Gross operating margin | 9900 | -€85,444 | -€54,121 | +€31,322 | +36.7% |
| Operating profit (loss) | 9901 | -€146,515 | -€106,430 | +€40,085 | +27.4% |
| Financial income | 75/76B | €284 | €4,409 | +€4,125 | +1,454% |
| Recurring financial income | 75 | €284 | €4,409 | +€4,125 | +1,454% |
| Financial charges | 65/66B | €8,910 | €9,209 | +€299 | +3.4% |
| Recurring financial charges | 65 | €8,910 | €9,209 | +€299 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€155,142 | -€111,230 | +€43,911 | +28.3% |
| Profit (loss) for the period | 9904 | -€155,142 | -€111,230 | +€43,911 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€155,142 | -€111,230 | +€43,911 | +28.3% |
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 24 October 2026 via checked.be.