CDC 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.
CDC Management
Largest movements
- Cash -€14,839
down €14,839 (-16.1%), from €92,076 to €77,237
mainly Contributions, distributions and other (-€42,716) and Debts after one year (-€26,524)
- Tangible fixed assets -€12,214
down €12,214 (-3.7%), from €332,692 to €320,477
of which Land and buildings: -€10,761
- Debts after one year -€26,524
down €26,524 (-11.0%), from €240,549 to €214,025
- Reserves +€18,738
up €18,738 (+13.3%), from €140,965 to €159,704
- Tax, wage and social debts -€9,932
down €9,932 (-41.6%), from €23,892 to €13,960
- Other debts -€8,653
down €8,653 (-61.7%), from €14,035 to €5,382
- Gross operating margin -€16,600
down €16,600 (-13.4%), from €124,309 to €107,708
- Taxes -€4,052
down €4,052 (-13.4%), from €30,158 to €26,106
- Financial charges -€1,352
down €1,352 (-14.0%), from €9,635 to €8,283
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €473,781 | €446,108 | -€27,673 | -5.8% |
| Fixed assets | 21/28 | €332,807 | €320,592 | -€12,214 | -3.7% |
| Tangible fixed assets | 22/27 | €332,692 | €320,477 | -€12,214 | -3.7% |
| Land and buildings | 22 | €327,406 | €316,646 | -€10,761 | -3.3% |
| Plant, machinery and equipment | 23 | €2,199 | €1,486 | -€713 | -32.4% |
| Furniture and vehicles | 24 | €3,087 | €2,345 | -€741 | -24.0% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €140,974 | €125,516 | -€15,459 | -11.0% |
| Amounts receivable within one year | 40/41 | €33,472 | €35,212 | +€1,740 | +5.2% |
| Trade receivables | 40 | €33,472 | €35,212 | +€1,740 | +5.2% |
| Cash at bank and in hand | 54/58 | €92,076 | €77,237 | -€14,839 | -16.1% |
| Deferred charges and accrued income | 490/1 | €15,427 | €13,067 | -€2,360 | -15.3% |
| Total equity and liabilities | 10/49 | €473,781 | €446,108 | -€27,673 | -5.8% |
| Equity | 10/15 | €165,123 | €182,196 | +€17,072 | +10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €140,965 | €159,704 | +€18,738 | +13.3% |
| Distributable reserves | 133 | €140,965 | €159,704 | +€18,738 | +13.3% |
| Profit (loss) carried forward | 14 | €17,958 | €16,292 | -€1,666 | -9.3% |
| Amounts payable | 17/49 | €308,658 | €263,912 | -€44,746 | -14.5% |
| Amounts payable after more than one year | 17 | €240,549 | €214,025 | -€26,524 | -11.0% |
| Financial debts | 170/4 | €240,549 | €214,025 | -€26,524 | -11.0% |
| Amounts payable within one year | 42/48 | €67,601 | €49,428 | -€18,173 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €28,063 | €28,707 | +€644 | +2.3% |
| Trade debts | 44 | €1,610 | €1,379 | -€231 | -14.4% |
| Suppliers | 440/4 | €1,610 | €1,379 | -€231 | -14.4% |
| Taxes, remuneration and social security | 45 | €23,892 | €13,960 | -€9,932 | -41.6% |
| Taxes | 450/3 | €23,892 | €13,960 | -€9,932 | -41.6% |
| Other amounts payable | 47/48 | €14,035 | €5,382 | -€8,653 | -61.7% |
| Accrued charges and deferred income | 492/3 | €508 | €459 | -€49 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,691 | €12,214 | -€476 | -3.8% |
| Other operating charges | 640/8 | €2,086 | €1,253 | -€833 | -39.9% |
| Non-recurring operating charges | 66A | €63 | €63 | +€0 | +0.5% |
| Gross operating margin | 9900 | €124,309 | €107,708 | -€16,600 | -13.4% |
| Operating profit (loss) | 9901 | €109,469 | €94,178 | -€15,291 | -14.0% |
| Financial charges | 65/66B | €9,635 | €8,283 | -€1,352 | -14.0% |
| Recurring financial charges | 65 | €9,635 | €8,283 | -€1,352 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €99,834 | €85,894 | -€13,939 | -14.0% |
| Income taxes | 67/77 | €30,158 | €26,106 | -€4,052 | -13.4% |
| Profit (loss) for the period | 9904 | €69,676 | €59,788 | -€9,887 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €69,676 | €59,788 | -€9,887 | -14.2% |
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.