CDC EXPERTISE: 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.
CDC EXPERTISE
Largest movements
- Tangible fixed assets -€15,600
down €15,600 (-33.0%), from €47,307 to €31,707
of which Furniture and vehicles: -€11,874
- Receivables within one year -€5,462
down €5,462 (-44.6%), from €12,240 to €6,778
of which Trade receivables: -€3,085
- Cash +€3,429
up €3,429 (+14.5%), from €23,620 to €27,049
mainly Depreciation (+€15,600) and Receivables within one year (+€5,462)
- Debts after one year -€15,935
down €15,935 (-73.5%), from €21,675 to €5,740
- Trade debts -€2,139
down €2,139 (-82.2%), from €2,603 to €464
- Accrued charges and deferred income -€1,010
no longer reported in 2025 (was €1,010)
- Gross operating margin +€13,622
up €13,622 (+95.0%), from €14,338 to €27,960
- Staff costs +€6,599
new in 2025: €6,599
- Depreciation -€5,561
down €5,561 (-26.3%), from €21,161 to €15,600
- Write-downs +€3,833
new in 2025: €3,833
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.
Cash bridge derived
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 | €84,057 | €65,934 | -€18,123 | -21.6% |
| Fixed assets | 21/28 | €47,707 | €32,107 | -€15,600 | -32.7% |
| Tangible fixed assets | 22/27 | €47,307 | €31,707 | -€15,600 | -33.0% |
| Plant, machinery and equipment | 23 | €695 | €151 | -€544 | -78.3% |
| Furniture and vehicles | 24 | €29,117 | €17,242 | -€11,874 | -40.8% |
| Other tangible fixed assets | 26 | €17,495 | €14,313 | -€3,181 | -18.2% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €36,350 | €33,828 | -€2,523 | -6.9% |
| Amounts receivable within one year | 40/41 | €12,240 | €6,778 | -€5,462 | -44.6% |
| Trade receivables | 40 | €5,233 | €2,148 | -€3,085 | -59.0% |
| Other amounts receivable | 41 | €7,007 | €4,631 | -€2,377 | -33.9% |
| Cash at bank and in hand | 54/58 | €23,620 | €27,049 | +€3,429 | +14.5% |
| Deferred charges and accrued income | 490/1 | €490 | - | -€490 | |
| Total equity and liabilities | 10/49 | €84,057 | €65,934 | -€18,123 | -21.6% |
| Equity | 10/15 | €40,332 | €40,789 | +€458 | +1.1% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €39,832 | €40,289 | +€458 | +1.1% |
| Distributable reserves | 133 | €39,832 | €40,289 | +€458 | +1.1% |
| Amounts payable | 17/49 | €43,725 | €25,145 | -€18,581 | -42.5% |
| Amounts payable after more than one year | 17 | €21,675 | €5,740 | -€15,935 | -73.5% |
| Financial debts | 170/4 | €21,675 | €5,740 | -€15,935 | -73.5% |
| Amounts payable within one year | 42/48 | €21,041 | €19,405 | -€1,636 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €15,719 | €15,935 | +€216 | +1.4% |
| Trade debts | 44 | €2,603 | €464 | -€2,139 | -82.2% |
| Suppliers | 440/4 | €2,603 | €464 | -€2,139 | -82.2% |
| Taxes, remuneration and social security | 45 | €2,719 | €3,006 | +€287 | +10.6% |
| Taxes | 450/3 | €2,719 | €3,006 | +€287 | +10.6% |
| Accrued charges and deferred income | 492/3 | €1,010 | - | -€1,010 | |
| Remuneration, social security and pensions | 62 | - | €6,599 | +€6,599 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,161 | €15,600 | -€5,561 | -26.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,833 | +€3,833 | |
| Other operating charges | 640/8 | €485 | €617 | +€132 | +27.2% |
| Gross operating margin | 9900 | €14,338 | €27,960 | +€13,622 | +95.0% |
| Operating profit (loss) | 9901 | -€7,308 | €1,311 | +€8,619 | |
| Financial income | 75/76B | €212 | - | -€212 | |
| Recurring financial income | 75 | €212 | - | -€212 | |
| Financial charges | 65/66B | €979 | €713 | -€266 | -27.2% |
| Recurring financial charges | 65 | €979 | €713 | -€266 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,074 | €598 | +€8,673 | |
| Income taxes | 67/77 | - | €141 | +€141 | |
| Profit (loss) for the period | 9904 | -€8,074 | €458 | +€8,532 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,074 | €458 | +€8,532 |
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 12 October 2026 via checked.be.