CDC GROUP: 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 GROUP
Largest movements
- Tangible fixed assets -€30,682
down €30,682 (-84.8%), from €36,192 to €5,510
of which Furniture and vehicles: -€28,741
- Receivables within one year +€18,083
up €18,083 (+208.9%), from €8,657 to €26,740
of which Trade receivables: +€17,552
- Cash -€762
down €762 (-100.0%), from €762 to €0
mainly Receivables within one year (-€18,083) and Debts after one year (-€8,528)
- Debts after one year -€8,528
down €8,528 (-40.2%), from €21,230 to €12,702
- Tax, wage and social debts -€4,926
down €4,926 (-91.1%), from €5,406 to €480
of which Taxes: -€4,926
- Profit (loss) carried forward -€3,118
down €3,118 (-13.1%), from -€23,868 to -€26,987
- Trade debts +€2,452
up €2,452 (+121.0%), from €2,026 to €4,477
- Short-term financial debts +€755
new in 2025: €755
- Write-downs -€82,445
down €82,445, from €41,223 to -€41,223
- Other operating charges +€21,803
up €21,803 (+1994.1%), from €1,093 to €22,897
- Gross operating margin -€10,216
down €10,216 (-3273.8%), from -€312 to -€10,528
- Depreciation -€8,704
down €8,704 (-80.4%), from €10,829 to €2,124
- Financial charges -€565
down €565 (-28.8%), from €1,958 to €1,394
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 | €45,662 | €32,303 | -€13,360 | -29.3% |
| Fixed assets | 21/28 | €36,192 | €5,510 | -€30,682 | -84.8% |
| Tangible fixed assets | 22/27 | €36,192 | €5,510 | -€30,682 | -84.8% |
| Plant, machinery and equipment | 23 | €4,048 | €2,833 | -€1,215 | -30.0% |
| Furniture and vehicles | 24 | €29,621 | €879 | -€28,741 | -97.0% |
| Other tangible fixed assets | 26 | €2,524 | €1,798 | -€726 | -28.8% |
| Current assets | 29/58 | €9,470 | €26,792 | +€17,323 | +182.9% |
| Amounts receivable within one year | 40/41 | €8,657 | €26,740 | +€18,083 | +208.9% |
| Trade receivables | 40 | €8,657 | €26,208 | +€17,552 | +202.8% |
| Other amounts receivable | 41 | €0 | €532 | +€532 | |
| Cash at bank and in hand | 54/58 | €762 | €0 | -€762 | -100.0% |
| Deferred charges and accrued income | 490/1 | €51 | €52 | +€2 | +3.1% |
| Total equity and liabilities | 10/49 | €45,662 | €32,303 | -€13,360 | -29.3% |
| Equity | 10/15 | -€22,868 | -€25,987 | -€3,118 | -13.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,868 | -€26,987 | -€3,118 | -13.1% |
| Amounts payable | 17/49 | €68,531 | €58,289 | -€10,241 | -14.9% |
| Amounts payable after more than one year | 17 | €21,230 | €12,702 | -€8,528 | -40.2% |
| Financial debts | 170/4 | €21,230 | €12,702 | -€8,528 | -40.2% |
| Amounts payable within one year | 42/48 | €42,301 | €40,584 | -€1,717 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €8,182 | €8,528 | +€346 | +4.2% |
| Financial debts | 43 | - | €755 | +€755 | |
| Credit institutions | 430/8 | - | €755 | +€755 | |
| Trade debts | 44 | €2,026 | €4,477 | +€2,452 | +121.0% |
| Suppliers | 440/4 | €2,026 | €4,477 | +€2,452 | +121.0% |
| Taxes, remuneration and social security | 45 | €5,406 | €480 | -€4,926 | -91.1% |
| Taxes | 450/3 | €4,926 | €0 | -€4,926 | -100.0% |
| Remuneration and social security | 454/9 | €480 | €480 | = | 0.0% |
| Other amounts payable | 47/48 | €26,688 | €26,344 | -€344 | -1.3% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,003 | +€3 | +0.1% |
| Non-recurring operating income | 76A | €62 | €0 | -€62 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,829 | €2,124 | -€8,704 | -80.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €41,223 | -€41,223 | -€82,445 | |
| Other operating charges | 640/8 | €1,093 | €22,897 | +€21,803 | +1994.1% |
| Non-recurring operating charges | 66A | €58 | €7,398 | +€7,340 | +12655.7% |
| Gross operating margin | 9900 | -€312 | -€10,528 | -€10,216 | -3273.8% |
| Operating profit (loss) | 9901 | -€53,515 | -€1,725 | +€51,790 | +96.8% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €1,958 | €1,394 | -€565 | -28.8% |
| Recurring financial charges | 65 | €1,958 | €1,394 | -€565 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | -€55,470 | -€3,118 | +€52,352 | +94.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€55,470 | -€3,118 | +€52,352 | +94.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,470 | -€3,118 | +€52,352 | +94.4% |
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 10 October 2026 via checked.be.