CDCO: 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.
What changed
CDCO
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€97,970
2024 · €121,297-€23,326
Equity
€769,158
2024 · €706,188+€62,970
Cash
€11,214
2024 · €14,709-€3,495
Balance sheet total
€1.3m
2024 · €1.3m-€33,916
Largest movements
Assets
- Receivables after one year -€35,236
down €35,236 (-54.3%), from €64,856 to €29,620
Equity and liabilities
- Debts after one year -€118,780
down €118,780 (-27.7%), from €428,379 to €309,599
- Reserves +€61,310
up €61,310 (+11.4%), from €536,840 to €598,150
of which Tax-exempt reserves: +€46,310
- Other debts +€19,892
up €19,892 (+99.5%), from €20,000 to €39,892
Income statement
- Financial income -€24,330
down €24,330 (-96.8%), from €25,126 to €796
- Gross operating margin +€5,018
up €5,018 (+2.9%), from €172,009 to €177,027
- Financial charges +€3,330
up €3,330 (+21.4%), from €15,524 to €18,854
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.
Result 2024
€121,297
Gross operating margin
+€5,018
Depreciation
-€616
Other operating charges
+€997
Financial income
-€24,330
Financial charges
-€3,330
Taxes
-€1,066
Result 2025
€97,970
raises the resultlowers the result
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.
From operations
+€160,158
Investment
-€11,218
Financing
-€152,435
Cash 2024
€14,709
From operations (derived)
+€160,158
Net result for the year
+€97,970
Depreciation
+€10,276
Receivables after one year
+€35,236
Receivables within one year
-€178
Deferred charges and accrued income
-€3,695
Trade debts
+€1,711
Tax, wage and social debts
-€1,698
Other debts
+€19,892
Accrued charges and deferred income
+€645
Investment (derived)
-€11,218
Investment in fixed assets (net)
-€11,218
Financing
-€152,435
Debts after one year
-€118,780
Current portion of long-term debt
+€1,345
Contributions, distributions and other
-€35,000
Cash 2025
€11,214
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,297,028 | €1,263,112 | -€33,916 | -2.6% |
| Fixed assets | 21/28 | €1,182,405 | €1,183,347 | +€942 | +0.1% |
| Tangible fixed assets | 22/27 | €221,205 | €223,347 | +€2,142 | +1.0% |
| Land and buildings | 22 | €205,129 | €196,429 | -€8,700 | -4.2% |
| Plant, machinery and equipment | 23 | €356 | €234 | -€122 | -34.3% |
| Furniture and vehicles | 24 | €4,364 | €3,853 | -€511 | -11.7% |
| Other tangible fixed assets | 26 | €11,356 | €22,831 | +€11,475 | +101% |
| Financial fixed assets | 28 | €961,200 | €960,000 | -€1,200 | -0.1% |
| Current assets | 29/58 | €114,623 | €79,765 | -€34,858 | -30.4% |
| Amounts receivable after more than one year | 29 | €64,856 | €29,620 | -€35,236 | -54.3% |
| Other amounts receivable | 291 | €64,856 | €29,620 | -€35,236 | -54.3% |
| Amounts receivable within one year | 40/41 | €35,058 | €35,236 | +€178 | +0.5% |
| Other amounts receivable | 41 | €35,058 | €35,236 | +€178 | +0.5% |
| Cash at bank and in hand | 54/58 | €14,709 | €11,214 | -€3,495 | -23.8% |
| Deferred charges and accrued income | 490/1 | - | €3,695 | +€3,695 | |
| Total equity and liabilities | 10/49 | €1,297,028 | €1,263,112 | -€33,916 | -2.6% |
| Equity | 10/15 | €706,188 | €769,158 | +€62,970 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €536,840 | €598,150 | +€61,310 | +11.4% |
| Tax-exempt reserves | 132 | €16,840 | €63,150 | +€46,310 | +275% |
| Distributable reserves | 133 | €520,000 | €535,000 | +€15,000 | +2.9% |
| Profit (loss) carried forward | 14 | €748 | €2,408 | +€1,660 | +222% |
| Amounts payable | 17/49 | €590,840 | €493,954 | -€96,886 | -16.4% |
| Amounts payable after more than one year | 17 | €428,379 | €309,599 | -€118,780 | -27.7% |
| Financial debts | 170/4 | €428,379 | €309,599 | -€118,780 | -27.7% |
| Amounts payable within one year | 42/48 | €159,461 | €180,710 | +€21,249 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €131,545 | €132,890 | +€1,345 | +1.0% |
| Trade debts | 44 | €626 | €2,337 | +€1,711 | +273% |
| Suppliers | 440/4 | €626 | €2,337 | +€1,711 | +273% |
| Taxes, remuneration and social security | 45 | €7,290 | €5,592 | -€1,698 | -23.3% |
| Taxes | 450/3 | €7,290 | €5,592 | -€1,698 | -23.3% |
| Other amounts payable | 47/48 | €20,000 | €39,892 | +€19,892 | +99.5% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,645 | +€645 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,660 | €10,276 | +€616 | +6.4% |
| Other operating charges | 640/8 | €2,594 | €1,597 | -€997 | -38.4% |
| Gross operating margin | 9900 | €172,009 | €177,027 | +€5,018 | +2.9% |
| Operating profit (loss) | 9901 | €159,755 | €165,154 | +€5,400 | +3.4% |
| Financial income | 75/76B | €25,126 | €796 | -€24,330 | -96.8% |
| Recurring financial income | 75 | €25,126 | €796 | -€24,330 | -96.8% |
| Financial charges | 65/66B | €15,524 | €18,854 | +€3,330 | +21.4% |
| Recurring financial charges | 65 | €15,524 | €18,854 | +€3,330 | +21.4% |
| Profit (loss) for the period before taxes | 9903 | €169,357 | €147,096 | -€22,261 | -13.1% |
| Income taxes | 67/77 | €48,060 | €49,126 | +€1,066 | +2.2% |
| Profit (loss) for the period | 9904 | €121,297 | €97,970 | -€23,326 | -19.2% |
| Transfer to tax-exempt reserves | 689 | €16,840 | €46,310 | +€29,470 | +175% |
| Profit (loss) for the period to be appropriated | 9905 | €104,457 | €51,660 | -€52,796 | -50.5% |
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 14 October 2026 via checked.be.