CDC Projects: 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 Projects
Largest movements
- Cash +€26,048
up €26,048 (+8.7%), from €299,145 to €325,192
mainly Net result for the year (+€28,540) and Depreciation (+€15,900)
- Tangible fixed assets -€15,900
down €15,900 (-26.6%), from €59,852 to €43,953
of which Leasing and similar rights: -€14,016
- Receivables within one year +€8,283
up €8,283 (+25.8%), from €32,105 to €40,387
of which Trade receivables: +€6,282
- Reserves +€28,540
up €28,540 (+9.0%), from €317,018 to €345,558
- Debts after one year -€13,882
down €13,882 (-47.1%), from €29,450 to €15,567
- Gross operating margin -€119,049
down €119,049 (-65.9%), from €180,688 to €61,639
- Taxes -€37,727
down €37,727 (-73.5%), from €51,318 to €13,592
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 | €392,907 | €412,735 | +€19,828 | +5.0% |
| Fixed assets | 21/28 | €60,947 | €45,048 | -€15,900 | -26.1% |
| Tangible fixed assets | 22/27 | €59,852 | €43,953 | -€15,900 | -26.6% |
| Plant, machinery and equipment | 23 | €1,165 | €321 | -€844 | -72.4% |
| Leasing and similar rights | 25 | €57,519 | €43,503 | -€14,016 | -24.4% |
| Other tangible fixed assets | 26 | €1,168 | €128 | -€1,040 | -89.0% |
| Financial fixed assets | 28 | €1,095 | €1,095 | = | 0.0% |
| Current assets | 29/58 | €331,959 | €367,687 | +€35,728 | +10.8% |
| Amounts receivable within one year | 40/41 | €32,105 | €40,387 | +€8,283 | +25.8% |
| Trade receivables | 40 | €28,798 | €35,080 | +€6,282 | +21.8% |
| Other amounts receivable | 41 | €3,307 | €5,308 | +€2,001 | +60.5% |
| Cash at bank and in hand | 54/58 | €299,145 | €325,192 | +€26,048 | +8.7% |
| Deferred charges and accrued income | 490/1 | €710 | €2,108 | +€1,398 | +197% |
| Total equity and liabilities | 10/49 | €392,907 | €412,735 | +€19,828 | +5.0% |
| Equity | 10/15 | €327,018 | €355,558 | +€28,540 | +8.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €317,018 | €345,558 | +€28,540 | +9.0% |
| Distributable reserves | 133 | €317,018 | €345,558 | +€28,540 | +9.0% |
| Amounts payable | 17/49 | €65,889 | €57,177 | -€8,712 | -13.2% |
| Amounts payable after more than one year | 17 | €29,450 | €15,567 | -€13,882 | -47.1% |
| Financial debts | 170/4 | €29,450 | €15,567 | -€13,882 | -47.1% |
| Amounts payable within one year | 42/48 | €36,440 | €41,610 | +€5,170 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €13,430 | €13,882 | +€452 | +3.4% |
| Trade debts | 44 | €111 | €1,354 | +€1,243 | +1,118% |
| Suppliers | 440/4 | €111 | €1,354 | +€1,243 | +1,118% |
| Taxes, remuneration and social security | 45 | €16,318 | €19,172 | +€2,854 | +17.5% |
| Taxes | 450/3 | €16,318 | €19,172 | +€2,854 | +17.5% |
| Other amounts payable | 47/48 | €6,580 | €7,201 | +€621 | +9.4% |
| Non-recurring operating income | 76A | €12,577 | - | -€12,577 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,444 | €15,900 | +€1,455 | +10.1% |
| Other operating charges | 640/8 | €3,516 | €2,047 | -€1,469 | -41.8% |
| Gross operating margin | 9900 | €180,688 | €61,639 | -€119,049 | -65.9% |
| Operating profit (loss) | 9901 | €162,727 | €43,692 | -€119,035 | -73.2% |
| Financial charges | 65/66B | €1,793 | €1,560 | -€233 | -13.0% |
| Recurring financial charges | 65 | €1,793 | €1,560 | -€233 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €160,934 | €42,132 | -€118,802 | -73.8% |
| Income taxes | 67/77 | €51,318 | €13,592 | -€37,727 | -73.5% |
| Profit (loss) for the period | 9904 | €109,615 | €28,540 | -€81,075 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,615 | €28,540 | -€81,075 | -74.0% |
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 19 October 2026 via checked.be.