CDG: 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.
CDG
Largest movements
- Tangible fixed assets +€36,784
up €36,784 (+4.4%), from €830,819 to €867,603
of which Plant, machinery and equipment: +€56,786
- Debts after one year +€131,947
up €131,947 (+18.8%), from €701,045 to €832,993
of which Financial debts: +€130,022
- Other debts -€92,146
no longer reported in 2025 (was €92,146)
- Profit (loss) carried forward -€11,303
down €11,303 (-25.6%), from -€44,096 to -€55,399
- Current portion of long-term debt +€10,285
up €10,285 (+61.5%), from €16,727 to €27,013
- Depreciation -€72,259
down €72,259 (-76.5%), from €94,500 to €22,240
- Gross operating margin +€39,691
up €39,691, from -€3,481 to €36,210
- Financial charges +€6,642
up €6,642 (+30.2%), from €21,975 to €28,616
- Financial income -€1,685
no longer reported in 2025 (was €1,685)
- Other operating charges +€626
up €626 (+47.3%), from €1,324 to €1,950
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 | €982,448 | €1,021,166 | +€38,718 | +3.9% |
| Fixed assets | 21/28 | €978,059 | €1,014,843 | +€36,784 | +3.8% |
| Tangible fixed assets | 22/27 | €830,819 | €867,603 | +€36,784 | +4.4% |
| Land and buildings | 22 | €814,155 | €794,153 | -€20,002 | -2.5% |
| Plant, machinery and equipment | 23 | €16,664 | €73,450 | +€56,786 | +340.8% |
| Financial fixed assets | 28 | €147,240 | €147,240 | = | 0.0% |
| Current assets | 29/58 | €4,389 | €6,323 | +€1,934 | +44.1% |
| Cash at bank and in hand | 54/58 | €4,389 | €6,323 | +€1,934 | +44.1% |
| Total equity and liabilities | 10/49 | €982,448 | €1,021,166 | +€38,718 | +3.9% |
| Equity | 10/15 | €125,349 | €110,076 | -€15,273 | -12.2% |
| Contributions | 10/11 | €40,920 | €40,920 | = | 0.0% |
| Reserves | 13 | €128,525 | €124,555 | -€3,970 | -3.1% |
| Tax-exempt reserves | 132 | €128,525 | €124,555 | -€3,970 | -3.1% |
| Profit (loss) carried forward | 14 | -€44,096 | -€55,399 | -€11,303 | -25.6% |
| Provisions and deferred taxes | 16 | €42,842 | €41,518 | -€1,323 | -3.1% |
| Deferred taxes | 168 | €42,842 | €41,518 | -€1,323 | -3.1% |
| Amounts payable | 17/49 | €814,258 | €869,572 | +€55,315 | +6.8% |
| Amounts payable after more than one year | 17 | €701,045 | €832,993 | +€131,947 | +18.8% |
| Financial debts | 170/4 | €701,045 | €831,068 | +€130,022 | +18.5% |
| Other amounts payable | 178/9 | - | €1,925 | +€1,925 | |
| Amounts payable within one year | 42/48 | €109,258 | €30,788 | -€78,471 | -71.8% |
| Current portion of amounts payable after more than one year | 42 | €16,727 | €27,013 | +€10,285 | +61.5% |
| Trade debts | 44 | €384 | €3,746 | +€3,362 | +874.4% |
| Suppliers | 440/4 | €384 | €3,746 | +€3,362 | +874.4% |
| Taxes, remuneration and social security | 45 | - | €29 | +€29 | |
| Taxes | 450/3 | - | €29 | +€29 | |
| Other amounts payable | 47/48 | €92,146 | - | -€92,146 | |
| Accrued charges and deferred income | 492/3 | €3,954 | €5,792 | +€1,838 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,500 | €22,240 | -€72,259 | -76.5% |
| Other operating charges | 640/8 | €1,324 | €1,950 | +€626 | +47.3% |
| Non-recurring operating charges | 66A | €20,629 | - | -€20,629 | |
| Gross operating margin | 9900 | -€3,481 | €36,210 | +€39,691 | |
| Operating profit (loss) | 9901 | -€119,933 | €12,020 | +€131,954 | |
| Financial income | 75/76B | €1,685 | - | -€1,685 | |
| Recurring financial income | 75 | €1,685 | - | -€1,685 | |
| Financial charges | 65/66B | €21,975 | €28,616 | +€6,642 | +30.2% |
| Recurring financial charges | 65 | €21,975 | €28,616 | +€6,642 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | -€140,223 | -€16,596 | +€123,627 | +88.2% |
| Transfer from deferred taxes | 780 | €832 | €1,323 | +€492 | +59.1% |
| Profit (loss) for the period | 9904 | -€139,391 | -€15,273 | +€124,119 | +89.0% |
| Transfer from tax-exempt reserves | 789 | €2,495 | €3,970 | +€1,475 | +59.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€136,897 | -€11,303 | +€125,594 | +91.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.