CDAD: 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.
CDAD
Largest movements
- Tangible fixed assets +€118,847
up €118,847 (+338%), from €35,196 to €154,043
of which Land and buildings: +€84,376
- Cash -€26,395
down €26,395 (-46.0%), from €57,441 to €31,046
mainly Investment in fixed assets (net) (-€128,984) and Receivables within one year (-€4,452)
- Receivables within one year +€4,452
up €4,452 (+10.5%), from €42,233 to €46,685
of which Trade receivables: +€2,425
- Stocks and contracts -€3,843
down €3,843 (-60.7%), from €6,335 to €2,492
- Deferred charges and accrued income +€2,446
up €2,446 (+135%), from €1,805 to €4,252
- Debts after one year +€52,800
new in 2025: €52,800
- Reserves +€18,102
up €18,102 (+13.9%), from €130,421 to €148,523
of which Non-distributable reserves: +€18,102
- Current portion of long-term debt +€14,400
new in 2025: €14,400
- Tax, wage and social debts +€8,850
up €8,850 (+164%), from €5,384 to €14,233
- Gross operating margin +€38,038
up €38,038 (+241%), from €15,762 to €53,800
- Other operating charges +€10,117
up €10,117 (+322%), from €3,140 to €13,257
- Taxes +€7,277
up €7,277 (+434%), from €1,676 to €8,953
- Depreciation +€4,290
up €4,290 (+73.4%), from €5,847 to €10,137
- Financial charges +€616
up €616 (+24.6%), from €2,504 to €3,120
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 | €143,040 | €238,547 | +€95,507 | +66.8% |
| Fixed assets | 21/28 | €35,226 | €154,073 | +€118,847 | +337% |
| Tangible fixed assets | 22/27 | €35,196 | €154,043 | +€118,847 | +338% |
| Land and buildings | 22 | €21,684 | €106,060 | +€84,376 | +389% |
| Plant, machinery and equipment | 23 | €6,276 | €44,174 | +€37,898 | +604% |
| Furniture and vehicles | 24 | €7,235 | €3,808 | -€3,427 | -47.4% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €107,814 | €84,475 | -€23,340 | -21.6% |
| Stocks and contracts in progress | 3 | €6,335 | €2,492 | -€3,843 | -60.7% |
| Stocks | 30/36 | €6,335 | €2,492 | -€3,843 | -60.7% |
| Amounts receivable within one year | 40/41 | €42,233 | €46,685 | +€4,452 | +10.5% |
| Trade receivables | 40 | €15,546 | €17,971 | +€2,425 | +15.6% |
| Other amounts receivable | 41 | €26,687 | €28,715 | +€2,027 | +7.6% |
| Cash at bank and in hand | 54/58 | €57,441 | €31,046 | -€26,395 | -46.0% |
| Deferred charges and accrued income | 490/1 | €1,805 | €4,252 | +€2,446 | +135% |
| Total equity and liabilities | 10/49 | €143,040 | €238,547 | +€95,507 | +66.8% |
| Equity | 10/15 | €136,621 | €154,723 | +€18,102 | +13.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €130,421 | €148,523 | +€18,102 | +13.9% |
| Non-distributable reserves | 130/1 | €118,224 | €136,326 | +€18,102 | +15.3% |
| Reserves not available under the articles | 1311 | €118,224 | €136,326 | +€18,102 | +15.3% |
| Distributable reserves | 133 | €12,198 | €12,198 | = | 0.0% |
| Amounts payable | 17/49 | €6,419 | €83,824 | +€77,405 | +1,206% |
| Amounts payable after more than one year | 17 | - | €52,800 | +€52,800 | |
| Financial debts | 170/4 | - | €52,800 | +€52,800 | |
| Amounts payable within one year | 42/48 | €6,419 | €31,024 | +€24,605 | +383% |
| Current portion of amounts payable after more than one year | 42 | - | €14,400 | +€14,400 | |
| Trade debts | 44 | €1,035 | €2,390 | +€1,355 | +131% |
| Suppliers | 440/4 | €1,035 | €2,390 | +€1,355 | +131% |
| Taxes, remuneration and social security | 45 | €5,384 | €14,233 | +€8,850 | +164% |
| Taxes | 450/3 | €5,384 | €14,233 | +€8,850 | +164% |
| Remuneration, social security and pensions | 62 | €1,145 | €639 | -€506 | -44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,847 | €10,137 | +€4,290 | +73.4% |
| Other operating charges | 640/8 | €3,140 | €13,257 | +€10,117 | +322% |
| Gross operating margin | 9900 | €15,762 | €53,800 | +€38,038 | +241% |
| Operating profit (loss) | 9901 | €5,631 | €29,767 | +€24,137 | +429% |
| Financial income | 75/76B | €0 | €407 | +€407 | +2,035,750% |
| Recurring financial income | 75 | €0 | €407 | +€407 | +2,035,750% |
| Financial charges | 65/66B | €2,504 | €3,120 | +€616 | +24.6% |
| Recurring financial charges | 65 | €2,504 | €3,120 | +€616 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €3,126 | €27,055 | +€23,928 | +765% |
| Income taxes | 67/77 | €1,676 | €8,953 | +€7,277 | +434% |
| Profit (loss) for the period | 9904 | €1,451 | €18,102 | +€16,651 | +1,148% |
| Profit (loss) for the period to be appropriated | 9905 | €1,451 | €18,102 | +€16,651 | +1,148% |
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 13 October 2026 via checked.be.