CD - INVEST: 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.
CD - INVEST
Largest movements
- Current investments -€489,032
down €489,032 (-49.9%), from €980,818 to €491,786
- Financial fixed assets +€466,065
up €466,065 (+1,295%), from €36,000 to €502,065
- Tangible fixed assets +€459,602
up €459,602 (+32.7%), from €1.4m to €1.9m
of which Land and buildings: +€468,277
- Cash -€167,696
down €167,696 (-24.7%), from €679,201 to €511,506
mainly Investment in fixed assets (net) (-€1.1m) and Receivables within one year (-€78,231)
- Receivables within one year +€78,231
up €78,231 (+52.4%), from €149,213 to €227,444
of which Other amounts receivable: +€83,863
- Debts after one year +€204,837
up €204,837 (+31.2%), from €657,138 to €861,976
- Reserves +€199,314
up €199,314 (+12.0%), from €1.7m to €1.9m
of which Distributable reserves: +€207,557
- Tax, wage and social debts -€57,389
down €57,389 (-46.8%), from €122,614 to €65,224
of which Taxes: -€67,191
- Staff costs +€159,153
up €159,153 (+15.7%), from €1.0m to €1.2m
- Gross operating margin +€138,273
up €138,273 (+9.4%), from €1.5m to €1.6m
- Taxes -€30,244
down €30,244 (-24.6%), from €122,758 to €92,514
- Financial income -€27,662
down €27,662 (-45.3%), from €61,113 to €33,451
of which Non-recurring financial income: -€46,802
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 | €3,252,803 | €3,599,973 | +€347,170 | +10.7% |
| Fixed assets | 21/28 | €1,443,571 | €2,369,237 | +€925,667 | +64.1% |
| Tangible fixed assets | 22/27 | €1,407,571 | €1,867,173 | +€459,602 | +32.7% |
| Land and buildings | 22 | €1,064,147 | €1,532,424 | +€468,277 | +44.0% |
| Plant, machinery and equipment | 23 | €80,872 | €69,246 | -€11,626 | -14.4% |
| Furniture and vehicles | 24 | €262,552 | €265,503 | +€2,951 | +1.1% |
| Financial fixed assets | 28 | €36,000 | €502,065 | +€466,065 | +1,295% |
| Current assets | 29/58 | €1,809,233 | €1,230,736 | -€578,497 | -32.0% |
| Amounts receivable within one year | 40/41 | €149,213 | €227,444 | +€78,231 | +52.4% |
| Trade receivables | 40 | €149,213 | €143,581 | -€5,632 | -3.8% |
| Other amounts receivable | 41 | - | €83,863 | +€83,863 | |
| Current investments | 50/53 | €980,818 | €491,786 | -€489,032 | -49.9% |
| Cash at bank and in hand | 54/58 | €679,201 | €511,506 | -€167,696 | -24.7% |
| Total equity and liabilities | 10/49 | €3,252,803 | €3,599,973 | +€347,170 | +10.7% |
| Equity | 10/15 | €2,018,188 | €2,217,502 | +€199,314 | +9.9% |
| Contributions | 10/11 | €356,967 | €356,967 | = | 0.0% |
| Capital | 10 | €356,967 | €356,967 | = | 0.0% |
| Issued capital | 100 | €356,967 | €356,967 | = | 0.0% |
| Reserves | 13 | €1,661,221 | €1,860,535 | +€199,314 | +12.0% |
| Non-distributable reserves | 130/1 | €35,697 | €35,697 | = | 0.0% |
| Legal reserve | 130 | €35,697 | €35,697 | = | 0.0% |
| Tax-exempt reserves | 132 | €575,782 | €567,539 | -€8,243 | -1.4% |
| Distributable reserves | 133 | €1,049,741 | €1,257,298 | +€207,557 | +19.8% |
| Provisions and deferred taxes | 16 | €193,763 | €191,015 | -€2,748 | -1.4% |
| Deferred taxes | 168 | €193,763 | €191,015 | -€2,748 | -1.4% |
| Amounts payable | 17/49 | €1,040,853 | €1,191,456 | +€150,604 | +14.5% |
| Amounts payable after more than one year | 17 | €657,138 | €861,976 | +€204,837 | +31.2% |
| Financial debts | 170/4 | €657,138 | €861,976 | +€204,837 | +31.2% |
| Amounts payable within one year | 42/48 | €383,714 | €329,481 | -€54,234 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €77,893 | €95,163 | +€17,270 | +22.2% |
| Trade debts | 44 | €131,595 | €110,240 | -€21,355 | -16.2% |
| Suppliers | 440/4 | €131,595 | €110,240 | -€21,355 | -16.2% |
| Taxes, remuneration and social security | 45 | €122,614 | €65,224 | -€57,389 | -46.8% |
| Taxes | 450/3 | €71,084 | €3,893 | -€67,191 | -94.5% |
| Remuneration and social security | 454/9 | €51,529 | €61,332 | +€9,802 | +19.0% |
| Other amounts payable | 47/48 | €51,613 | €58,854 | +€7,241 | +14.0% |
| Remuneration, social security and pensions | 62 | €1,015,287 | €1,174,440 | +€159,153 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,026 | €128,706 | +€9,680 | +8.1% |
| Other operating charges | 640/8 | €4,027 | €6,317 | +€2,289 | +56.8% |
| Non-recurring operating charges | 66A | €1,879 | - | -€1,879 | |
| Gross operating margin | 9900 | €1,469,605 | €1,607,878 | +€138,273 | +9.4% |
| Operating profit (loss) | 9901 | €329,386 | €298,416 | -€30,970 | -9.4% |
| Financial income | 75/76B | €61,113 | €33,451 | -€27,662 | -45.3% |
| Recurring financial income | 75 | €14,310 | €33,451 | +€19,141 | +134% |
| Non-recurring financial income | 76B | €46,802 | - | -€46,802 | |
| Financial charges | 65/66B | €33,606 | €42,786 | +€9,180 | +27.3% |
| Recurring financial charges | 65 | €33,606 | €42,786 | +€9,180 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €356,892 | €289,081 | -€67,811 | -19.0% |
| Transfer from deferred taxes | 780 | €2,101 | €2,748 | +€647 | +30.8% |
| Income taxes | 67/77 | €122,758 | €92,514 | -€30,244 | -24.6% |
| Profit (loss) for the period | 9904 | €236,235 | €199,314 | -€36,921 | -15.6% |
| Transfer from tax-exempt reserves | 789 | €10,504 | €8,243 | -€2,261 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €246,739 | €207,557 | -€39,182 | -15.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.