CD Management: 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 Management
Largest movements
- Cash -€37,126
down €37,126 (-25.3%), from €146,480 to €109,354
mainly Investment in fixed assets (net) (-€34,040) and Receivables within one year (-€4,574)
- Tangible fixed assets +€28,250
up €28,250 (+937%), from €3,015 to €31,265
- Receivables within one year +€4,574
up €4,574 (+27.7%), from €16,542 to €21,116
of which Trade receivables: +€4,601
- Reserves -€3,550
down €3,550 (-2.4%), from €148,702 to €145,152
- Tax, wage and social debts -€2,244
down €2,244 (-49.2%), from €4,565 to €2,321
of which Remuneration and social security: -€2,295
- Gross operating margin +€25,409
up €25,409, from -€2,961 to €22,447
- Depreciation +€4,887
up €4,887 (+541%), from €903 to €5,790
- Financial charges -€1,628
down €1,628 (-73.3%), from €2,220 to €593
- Financial income -€793
down €793 (-100%), from €793 to €0
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 | €167,417 | €161,735 | -€5,682 | -3.4% |
| Fixed assets | 21/28 | €3,015 | €31,265 | +€28,250 | +937% |
| Tangible fixed assets | 22/27 | €3,015 | €31,265 | +€28,250 | +937% |
| Furniture and vehicles | 24 | €3,015 | €31,265 | +€28,250 | +937% |
| Current assets | 29/58 | €164,402 | €130,470 | -€33,932 | -20.6% |
| Amounts receivable within one year | 40/41 | €16,542 | €21,116 | +€4,574 | +27.7% |
| Trade receivables | 40 | €5,828 | €10,430 | +€4,601 | +78.9% |
| Other amounts receivable | 41 | €10,714 | €10,686 | -€27 | -0.3% |
| Cash at bank and in hand | 54/58 | €146,480 | €109,354 | -€37,126 | -25.3% |
| Deferred charges and accrued income | 490/1 | €1,380 | €0 | -€1,380 | -100% |
| Total equity and liabilities | 10/49 | €167,417 | €161,735 | -€5,682 | -3.4% |
| Equity | 10/15 | €161,102 | €157,552 | -€3,550 | -2.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €148,702 | €145,152 | -€3,550 | -2.4% |
| Distributable reserves | 133 | €148,702 | €145,152 | -€3,550 | -2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,315 | €4,182 | -€2,133 | -33.8% |
| Amounts payable within one year | 42/48 | €5,605 | €3,230 | -€2,375 | -42.4% |
| Trade debts | 44 | €954 | €823 | -€131 | -13.8% |
| Suppliers | 440/4 | €954 | €823 | -€131 | -13.8% |
| Taxes, remuneration and social security | 45 | €4,565 | €2,321 | -€2,244 | -49.2% |
| Taxes | 450/3 | €2,270 | €2,321 | +€51 | +2.3% |
| Remuneration and social security | 454/9 | €2,295 | €0 | -€2,295 | -100% |
| Other amounts payable | 47/48 | €86 | €86 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €710 | €953 | +€242 | +34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €903 | €5,790 | +€4,887 | +541% |
| Other operating charges | 640/8 | €646 | €747 | +€101 | +15.6% |
| Non-recurring operating charges | 66A | - | €18,829 | +€18,829 | |
| Gross operating margin | 9900 | -€2,961 | €22,447 | +€25,409 | |
| Operating profit (loss) | 9901 | -€4,510 | -€2,918 | +€1,592 | +35.3% |
| Financial income | 75/76B | €793 | €0 | -€793 | -100% |
| Recurring financial income | 75 | €793 | €0 | -€793 | -100% |
| Financial charges | 65/66B | €2,220 | €593 | -€1,628 | -73.3% |
| Recurring financial charges | 65 | €2,220 | €593 | -€1,628 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,937 | -€3,510 | +€2,427 | +40.9% |
| Income taxes | 67/77 | €128 | €39 | -€89 | -69.2% |
| Profit (loss) for the period | 9904 | -€6,065 | -€3,550 | +€2,516 | +41.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,065 | -€3,550 | +€2,516 | +41.5% |
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 31 October 2026 via checked.be.