CD EXPERTISES: what changed
CD EXPERTISES
Largest movements
- Receivables within one year -€18,089
down €18,089 (-11.9%), from €151,570 to €133,481
of which Other amounts receivable: -€51,080
- Cash -€5,365
down €5,365 (-55.3%), from €9,708 to €4,343
mainly Net result for the year (-€48,891) and Tax, wage and social debts (-€17,075)
- Tangible fixed assets -€3,263
down €3,263 (-26.4%), from €12,377 to €9,114
of which Furniture and vehicles: -€2,585
- Profit (loss) carried forward -€48,891
down €48,891 (-106%), from -€45,972 to -€94,863
- Other debts +€33,997
up €33,997 (+126%), from €26,954 to €60,951
- Trade debts +€17,533
up €17,533 (+95.0%), from €18,453 to €35,986
- Tax, wage and social debts -€17,075
down €17,075 (-71.3%), from €23,963 to €6,888
of which Taxes: -€16,692
- Current portion of long-term debt -€10,540
down €10,540 (-83.2%), from €12,662 to €2,122
- Gross operating margin -€63,655
down €63,655, from €43,041 to -€20,614
- Staff costs -€33,887
down €33,887 (-55.8%), from €60,704 to €26,818
- Other operating charges -€3,366
down €3,366 (-93.9%), from €3,586 to €220
- Financial charges -€2,813
down €2,813 (-84.4%), from €3,334 to €521
of which Non-recurring financial charges: -€2,747
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,381 | €149,284 | -€27,098 | -15.4% |
| Fixed assets | 21/28 | €12,377 | €9,114 | -€3,263 | -26.4% |
| Tangible fixed assets | 22/27 | €12,377 | €9,114 | -€3,263 | -26.4% |
| Land and buildings | 22 | €3,294 | €2,616 | -€678 | -20.6% |
| Furniture and vehicles | 24 | €9,082 | €6,498 | -€2,585 | -28.5% |
| Current assets | 29/58 | €164,005 | €140,170 | -€23,835 | -14.5% |
| Amounts receivable within one year | 40/41 | €151,570 | €133,481 | -€18,089 | -11.9% |
| Trade receivables | 40 | €6,639 | €39,630 | +€32,991 | +497% |
| Other amounts receivable | 41 | €144,931 | €93,851 | -€51,080 | -35.2% |
| Cash at bank and in hand | 54/58 | €9,708 | €4,343 | -€5,365 | -55.3% |
| Deferred charges and accrued income | 490/1 | €2,727 | €2,346 | -€381 | -14.0% |
| Total equity and liabilities | 10/49 | €176,381 | €149,284 | -€27,098 | -15.4% |
| Equity | 10/15 | €92,228 | €43,337 | -€48,891 | -53.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €76,200 | €76,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,972 | -€94,863 | -€48,891 | -106% |
| Amounts payable | 17/49 | €84,154 | €105,947 | +€21,793 | +25.9% |
| Amounts payable after more than one year | 17 | €2,122 | - | -€2,122 | |
| Financial debts | 170/4 | €2,122 | - | -€2,122 | |
| Amounts payable within one year | 42/48 | €82,032 | €105,947 | +€23,915 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €12,662 | €2,122 | -€10,540 | -83.2% |
| Trade debts | 44 | €18,453 | €35,986 | +€17,533 | +95.0% |
| Suppliers | 440/4 | €18,453 | €35,986 | +€17,533 | +95.0% |
| Taxes, remuneration and social security | 45 | €23,963 | €6,888 | -€17,075 | -71.3% |
| Taxes | 450/3 | €16,692 | - | -€16,692 | |
| Remuneration and social security | 454/9 | €7,271 | €6,888 | -€383 | -5.3% |
| Other amounts payable | 47/48 | €26,954 | €60,951 | +€33,997 | +126% |
| Remuneration, social security and pensions | 62 | €60,704 | €26,818 | -€33,887 | -55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,291 | €3,263 | -€28 | -0.9% |
| Other operating charges | 640/8 | €3,586 | €220 | -€3,366 | -93.9% |
| Non-recurring operating charges | 66A | €9 | - | -€9 | |
| Gross operating margin | 9900 | €43,041 | -€20,614 | -€63,655 | |
| Operating profit (loss) | 9901 | -€24,549 | -€50,914 | -€26,365 | -107% |
| Financial income | 75/76B | €2,966 | €2,545 | -€421 | -14.2% |
| Recurring financial income | 75 | €2,966 | €2,545 | -€421 | -14.2% |
| Financial charges | 65/66B | €3,334 | €521 | -€2,813 | -84.4% |
| Recurring financial charges | 65 | €587 | €521 | -€66 | -11.2% |
| Non-recurring financial charges | 66B | €2,747 | - | -€2,747 | |
| Profit (loss) for the period before taxes | 9903 | -€24,917 | -€48,891 | -€23,974 | -96.2% |
| Profit (loss) for the period | 9904 | -€24,917 | -€48,891 | -€23,974 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,917 | -€48,891 | -€23,974 | -96.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.