CDES Services: what changed
Two fiscal 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.
CDES Services
Largest movements
- Receivables within one year +€37,602
up €37,602 (+13.0%), from €288,482 to €326,084
of which Trade receivables: +€31,650
- Tangible fixed assets -€18,395
down €18,395 (-24.2%), from €76,054 to €57,659
of which Plant, machinery and equipment: -€17,982
- Stocks and contracts +€7,952
up €7,952 (+33.4%), from €23,817 to €31,769
- Tax, wage and social debts -€67,565
down €67,565 (-43.9%), from €153,951 to €86,387
of which Taxes: -€54,840
- Trade debts +€47,203
up €47,203 (+39.3%), from €120,119 to €167,322
- Short-term financial debts +€39,692
up €39,692 (+136.6%), from €29,050 to €68,742
of which Other loans: +€45,000
- Reserves +€4,556
up €4,556 (+6.3%), from €72,257 to €76,813
- Staff costs +€10,484
up €10,484 (+3.7%), from €287,024 to €297,509
- Financial charges -€8,190
down €8,190 (-42.2%), from €19,403 to €11,214
of which Financial charges: -€9,520
- Gross operating margin +€6,051
up €6,051 (+1.8%), from €341,168 to €347,219
- Financial income -€3,582
down €3,582 (-87.8%), from €4,080 to €498
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 | €396,819 | €418,923 | +€22,103 | +5.6% |
| Fixed assets | 21/28 | €78,135 | €58,004 | -€20,131 | -25.8% |
| Intangible fixed assets | 21 | €2,081 | €344 | -€1,736 | -83.4% |
| Tangible fixed assets | 22/27 | €76,054 | €57,659 | -€18,395 | -24.2% |
| Plant, machinery and equipment | 23 | €50,478 | €32,496 | -€17,982 | -35.6% |
| Furniture and vehicles | 24 | €7,421 | €9,208 | +€1,787 | +24.1% |
| Other tangible fixed assets | 26 | €18,155 | €15,956 | -€2,199 | -12.1% |
| Current assets | 29/58 | €318,684 | €360,919 | +€42,234 | +13.3% |
| Stocks and contracts in progress | 3 | €23,817 | €31,769 | +€7,952 | +33.4% |
| Stocks | 30/36 | €23,817 | €31,769 | +€7,952 | +33.4% |
| Amounts receivable within one year | 40/41 | €288,482 | €326,084 | +€37,602 | +13.0% |
| Trade receivables | 40 | €278,099 | €309,749 | +€31,650 | +11.4% |
| Other amounts receivable | 41 | €10,383 | €16,336 | +€5,953 | +57.3% |
| Cash at bank and in hand | 54/58 | €2,846 | €52 | -€2,794 | -98.2% |
| Deferred charges and accrued income | 490/1 | €3,539 | €3,013 | -€526 | -14.9% |
| Total equity and liabilities | 10/49 | €396,819 | €418,923 | +€22,103 | +5.6% |
| Equity | 10/15 | €90,857 | €95,413 | +€4,556 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €72,257 | €76,813 | +€4,556 | +6.3% |
| Distributable reserves | 133 | €72,257 | €76,813 | +€4,556 | +6.3% |
| Amounts payable | 17/49 | €305,962 | €323,510 | +€17,548 | +5.7% |
| Amounts payable within one year | 42/48 | €305,962 | €323,510 | +€17,548 | +5.7% |
| Financial debts | 43 | €29,050 | €68,742 | +€39,692 | +136.6% |
| Credit institutions | 430/8 | €29,050 | €23,742 | -€5,308 | -18.3% |
| Other loans | 439 | - | €45,000 | +€45,000 | |
| Trade debts | 44 | €120,119 | €167,322 | +€47,203 | +39.3% |
| Suppliers | 440/4 | €120,119 | €167,322 | +€47,203 | +39.3% |
| Taxes, remuneration and social security | 45 | €153,951 | €86,387 | -€67,565 | -43.9% |
| Taxes | 450/3 | €84,963 | €30,122 | -€54,840 | -64.5% |
| Remuneration and social security | 454/9 | €68,989 | €56,264 | -€12,724 | -18.4% |
| Other amounts payable | 47/48 | €2,842 | €1,059 | -€1,783 | -62.7% |
| Remuneration, social security and pensions | 62 | €287,024 | €297,509 | +€10,484 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,868 | €25,304 | +€435 | +1.8% |
| Other operating charges | 640/8 | €3,557 | €3,987 | +€430 | +12.1% |
| Gross operating margin | 9900 | €341,168 | €347,219 | +€6,051 | +1.8% |
| Operating profit (loss) | 9901 | €25,719 | €20,420 | -€5,299 | -20.6% |
| Financial income | 75/76B | €4,080 | €498 | -€3,582 | -87.8% |
| Recurring financial income | 75 | €4,080 | €498 | -€3,582 | -87.8% |
| Financial charges | 65/66B | €19,403 | €11,214 | -€8,190 | -42.2% |
| Recurring financial charges | 65 | €19,403 | €9,884 | -€9,520 | -49.1% |
| Non-recurring financial charges | 66B | - | €1,330 | +€1,330 | |
| Profit (loss) for the period before taxes | 9903 | €10,395 | €9,704 | -€691 | -6.6% |
| Income taxes | 67/77 | €6,279 | €5,149 | -€1,131 | -18.0% |
| Profit (loss) for the period | 9904 | €4,116 | €4,556 | +€440 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,116 | €4,556 | +€440 | +10.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.