CdF: 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.
CdF
Largest movements
- Receivables within one year -€17,055
down €17,055 (-34.7%), from €49,108 to €32,052
of which Trade receivables: -€17,681
- Cash -€4,105
down €4,105 (-23.4%), from €17,530 to €13,425
mainly Net result for the year (-€46,458) and Trade debts (-€2,902)
- Deferred charges and accrued income +€1,565
new in 2025: €1,565
- Profit (loss) carried forward -€46,458
down €46,458 (-43.7%), from -€106,321 to -€152,779
- Advances received +€21,058
new in 2025: €21,058
- Tax, wage and social debts +€7,989
up €7,989 (+56.7%), from €14,100 to €22,089
of which Taxes: +€5,780
- Trade debts -€2,902
down €2,902 (-18.0%), from €16,099 to €13,198
- Gross operating margin -€16,244
down €16,244 (-43.6%), from €37,258 to €21,013
- Staff costs +€11,599
up €11,599 (+24.7%), from €47,054 to €58,653
- Financial income -€5,183
down €5,183 (-85.5%), from €6,059 to €876
of which Non-recurring financial income: -€5,000
- Financial charges -€974
down €974 (-27.7%), from €3,513 to €2,540
- Other operating charges +€528
up €528 (+9.3%), from €5,665 to €6,193
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 | €99,603 | €79,290 | -€20,313 | -20.4% |
| Fixed assets | 21/28 | €3,440 | €2,723 | -€718 | -20.9% |
| Tangible fixed assets | 22/27 | €3,002 | €2,284 | -€718 | -23.9% |
| Furniture and vehicles | 24 | €3,002 | €2,284 | -€718 | -23.9% |
| Financial fixed assets | 28 | €438 | €438 | = | 0.0% |
| Current assets | 29/58 | €96,162 | €76,567 | -€19,595 | -20.4% |
| Amounts receivable within one year | 40/41 | €49,108 | €32,052 | -€17,055 | -34.7% |
| Trade receivables | 40 | €49,056 | €31,375 | -€17,681 | -36.0% |
| Other amounts receivable | 41 | €51 | €677 | +€626 | +1,220% |
| Current investments | 50/53 | €29,525 | €29,525 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,530 | €13,425 | -€4,105 | -23.4% |
| Deferred charges and accrued income | 490/1 | - | €1,565 | +€1,565 | |
| Total equity and liabilities | 10/49 | €99,603 | €79,290 | -€20,313 | -20.4% |
| Equity | 10/15 | €69,403 | €22,945 | -€46,458 | -66.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €113,724 | €113,724 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €107,524 | €107,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,321 | -€152,779 | -€46,458 | -43.7% |
| Amounts payable | 17/49 | €30,199 | €56,345 | +€26,145 | +86.6% |
| Amounts payable within one year | 42/48 | €30,199 | €56,345 | +€26,145 | +86.6% |
| Trade debts | 44 | €16,099 | €13,198 | -€2,902 | -18.0% |
| Suppliers | 440/4 | €16,099 | €13,198 | -€2,902 | -18.0% |
| Advances received on contracts in progress | 46 | - | €21,058 | +€21,058 | |
| Taxes, remuneration and social security | 45 | €14,100 | €22,089 | +€7,989 | +56.7% |
| Taxes | 450/3 | €10,121 | €15,900 | +€5,780 | +57.1% |
| Remuneration and social security | 454/9 | €3,980 | €6,189 | +€2,209 | +55.5% |
| Remuneration, social security and pensions | 62 | €47,054 | €58,653 | +€11,599 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €365 | €718 | +€353 | +96.9% |
| Other operating charges | 640/8 | €5,665 | €6,193 | +€528 | +9.3% |
| Gross operating margin | 9900 | €37,258 | €21,013 | -€16,244 | -43.6% |
| Operating profit (loss) | 9901 | -€15,825 | -€44,550 | -€28,724 | -182% |
| Financial income | 75/76B | €6,059 | €876 | -€5,183 | -85.5% |
| Recurring financial income | 75 | €1,059 | €876 | -€183 | -17.3% |
| Non-recurring financial income | 76B | €5,000 | - | -€5,000 | |
| Financial charges | 65/66B | €3,513 | €2,540 | -€974 | -27.7% |
| Recurring financial charges | 65 | €3,513 | €2,540 | -€974 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,280 | -€46,213 | -€32,933 | -248% |
| Income taxes | 67/77 | €597 | €245 | -€352 | -59.0% |
| Profit (loss) for the period | 9904 | -€13,877 | -€46,458 | -€32,581 | -235% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,877 | -€46,458 | -€32,581 | -235% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.