CD LAW: what changed
Two fiscal 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 LAW
Largest movements
- Receivables after one year -€225,575
down €225,575 (-40.3%), from €559,600 to €334,025
- Tangible fixed assets -€142,276
down €142,276 (-78.5%), from €181,274 to €38,998
of which Furniture and vehicles: -€133,612
- Receivables within one year +€51,487
up €51,487 (+10.1%), from €508,980 to €560,467
- Cash +€18,986
new in 2024: €18,986
mainly Receivables after one year (+€225,575) and Investment in fixed assets (net) (+€132,824)
- Profit (loss) carried forward -€218,317
down €218,317 (-41.5%), from €526,081 to €307,764
- Current portion of long-term debt -€157,526
down €157,526 (-78.2%), from €201,469 to €43,942
- Tax, wage and social debts +€97,800
up €97,800 (+49.4%), from €198,095 to €295,895
of which Taxes: +€88,313
- Trade debts +€91,035
up €91,035 (+84.8%), from €107,350 to €198,384
- Other debts -€86,130
down €86,130 (-100.0%), from €86,134 to €4
- Gross operating margin +€93,947
up €93,947 (+63.4%), from €148,154 to €242,100
- Other operating charges +€50,018
up €50,018 (+128.6%), from €38,896 to €88,914
- Taxes +€28,200
up €28,200 (+220.3%), from €12,800 to €41,000
- Financial income -€21,661
down €21,661 (-99.9%), from €21,692 to €32
- Staff costs +€19,195
up €19,195 (+38.8%), from €49,498 to €68,694
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,290,556 | €984,080 | -€306,476 | -23.7% |
| Fixed assets | 21/28 | €215,435 | €70,603 | -€144,832 | -67.2% |
| Intangible fixed assets | 21 | €3,651 | €1,095 | -€2,556 | -70.0% |
| Tangible fixed assets | 22/27 | €181,274 | €38,998 | -€142,276 | -78.5% |
| Furniture and vehicles | 24 | €135,646 | €2,034 | -€133,612 | -98.5% |
| Other tangible fixed assets | 26 | €45,628 | €36,964 | -€8,664 | -19.0% |
| Financial fixed assets | 28 | €30,510 | €30,510 | = | 0.0% |
| Current assets | 29/58 | €1,075,122 | €913,478 | -€161,644 | -15.0% |
| Amounts receivable after more than one year | 29 | €559,600 | €334,025 | -€225,575 | -40.3% |
| Other amounts receivable | 291 | €559,600 | €334,025 | -€225,575 | -40.3% |
| Amounts receivable within one year | 40/41 | €508,980 | €560,467 | +€51,487 | +10.1% |
| Trade receivables | 40 | €508,980 | €560,467 | +€51,487 | +10.1% |
| Cash at bank and in hand | 54/58 | - | €18,986 | +€18,986 | |
| Deferred charges and accrued income | 490/1 | €6,541 | - | -€6,541 | |
| Total equity and liabilities | 10/49 | €1,290,556 | €984,080 | -€306,476 | -23.7% |
| Equity | 10/15 | €527,081 | €308,764 | -€218,317 | -41.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €526,081 | €307,764 | -€218,317 | -41.5% |
| Amounts payable | 17/49 | €763,476 | €675,316 | -€88,159 | -11.5% |
| Amounts payable after more than one year | 17 | €121,033 | €77,091 | -€43,942 | -36.3% |
| Financial debts | 170/4 | €121,033 | €77,091 | -€43,942 | -36.3% |
| Amounts payable within one year | 42/48 | €642,443 | €538,226 | -€104,217 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €201,469 | €43,942 | -€157,526 | -78.2% |
| Financial debts | 43 | €49,395 | - | -€49,395 | |
| Credit institutions | 430/8 | €49,395 | - | -€49,395 | |
| Trade debts | 44 | €107,350 | €198,384 | +€91,035 | +84.8% |
| Suppliers | 440/4 | €107,350 | €198,384 | +€91,035 | +84.8% |
| Taxes, remuneration and social security | 45 | €198,095 | €295,895 | +€97,800 | +49.4% |
| Taxes | 450/3 | €193,559 | €281,872 | +€88,313 | +45.6% |
| Remuneration and social security | 454/9 | €4,536 | €14,024 | +€9,488 | +209.2% |
| Other amounts payable | 47/48 | €86,134 | €4 | -€86,130 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €60,000 | +€60,000 | |
| Remuneration, social security and pensions | 62 | €49,498 | €68,694 | +€19,195 | +38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,351 | €12,008 | -€17,343 | -59.1% |
| Other operating charges | 640/8 | €38,896 | €88,914 | +€50,018 | +128.6% |
| Gross operating margin | 9900 | €148,154 | €242,100 | +€93,947 | +63.4% |
| Operating profit (loss) | 9901 | €30,409 | €72,485 | +€42,076 | +138.4% |
| Financial income | 75/76B | €21,692 | €32 | -€21,661 | -99.9% |
| Recurring financial income | 75 | €21,692 | €32 | -€21,661 | -99.9% |
| Financial charges | 65/66B | €20,621 | €12,334 | -€8,287 | -40.2% |
| Recurring financial charges | 65 | €20,621 | €12,334 | -€8,287 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €31,480 | €60,183 | +€28,703 | +91.2% |
| Income taxes | 67/77 | €12,800 | €41,000 | +€28,200 | +220.3% |
| Profit (loss) for the period | 9904 | €18,680 | €19,183 | +€503 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,680 | €19,183 | +€503 | +2.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.