CDGEM: 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.
CDGEM
Largest movements
- Cash +€20,991
up €20,991 (+34.2%), from €61,436 to €82,427
mainly Net result for the year (+€25,088) and Depreciation (+€11,959)
- Tangible fixed assets -€9,959
down €9,959 (-34.9%), from €28,542 to €18,583
of which Furniture and vehicles: -€9,399
- Receivables within one year +€3,938
up €3,938 (+62.3%), from €6,318 to €10,256
of which Other amounts receivable: +€2,587
- Profit (loss) carried forward +€7,945
up €7,945 (+16.2%), from €49,113 to €57,058
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Trade debts +€6,160
up €6,160 (+4,190%), from €147 to €6,307
- Debts after one year -€5,621
down €5,621 (-66.2%), from €8,490 to €2,869
- Gross operating margin +€7,127
up €7,127 (+17.9%), from €39,836 to €46,963
- Taxes +€5,688
up €5,688 (+184%), from €3,096 to €8,784
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 | €98,867 | €113,724 | +€14,857 | +15.0% |
| Fixed assets | 21/28 | €28,581 | €18,622 | -€9,959 | -34.8% |
| Tangible fixed assets | 22/27 | €28,542 | €18,583 | -€9,959 | -34.9% |
| Plant, machinery and equipment | 23 | €6,038 | €5,478 | -€560 | -9.3% |
| Furniture and vehicles | 24 | €22,504 | €13,105 | -€9,399 | -41.8% |
| Financial fixed assets | 28 | €39 | €39 | = | 0.0% |
| Current assets | 29/58 | €70,286 | €95,102 | +€24,816 | +35.3% |
| Amounts receivable within one year | 40/41 | €6,318 | €10,256 | +€3,938 | +62.3% |
| Trade receivables | 40 | €6,120 | €7,471 | +€1,351 | +22.1% |
| Other amounts receivable | 41 | €198 | €2,785 | +€2,587 | +1,307% |
| Cash at bank and in hand | 54/58 | €61,436 | €82,427 | +€20,991 | +34.2% |
| Deferred charges and accrued income | 490/1 | €2,532 | €2,419 | -€113 | -4.5% |
| Total equity and liabilities | 10/49 | €98,867 | €113,724 | +€14,857 | +15.0% |
| Equity | 10/15 | €66,173 | €80,318 | +€14,145 | +21.4% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €4,660 | €4,660 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,800 | €2,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,113 | €57,058 | +€7,945 | +16.2% |
| Amounts payable | 17/49 | €32,694 | €33,406 | +€712 | +2.2% |
| Amounts payable after more than one year | 17 | €8,490 | €2,869 | -€5,621 | -66.2% |
| Financial debts | 170/4 | €8,490 | €2,869 | -€5,621 | -66.2% |
| Amounts payable within one year | 42/48 | €24,204 | €30,537 | +€6,333 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €5,469 | €5,621 | +€152 | +2.8% |
| Trade debts | 44 | €147 | €6,307 | +€6,160 | +4,190% |
| Suppliers | 440/4 | €147 | €6,307 | +€6,160 | +4,190% |
| Taxes, remuneration and social security | 45 | €5,307 | €5,307 | = | 0.0% |
| Taxes | 450/3 | €5,307 | €5,307 | = | 0.0% |
| Other amounts payable | 47/48 | €13,281 | €13,302 | +€21 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,037 | €11,959 | -€78 | -0.6% |
| Other operating charges | 640/8 | €281 | €292 | +€11 | +3.9% |
| Non-recurring operating charges | 66A | - | €171 | +€171 | |
| Gross operating margin | 9900 | €39,836 | €46,963 | +€7,127 | +17.9% |
| Operating profit (loss) | 9901 | €27,518 | €34,541 | +€7,023 | +25.5% |
| Financial income | 75/76B | €13 | €2 | -€11 | -84.6% |
| Recurring financial income | 75 | €13 | €2 | -€11 | -84.6% |
| Financial charges | 65/66B | €890 | €671 | -€219 | -24.6% |
| Recurring financial charges | 65 | €890 | €671 | -€219 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €26,641 | €33,872 | +€7,231 | +27.1% |
| Income taxes | 67/77 | €3,096 | €8,784 | +€5,688 | +184% |
| Profit (loss) for the period | 9904 | €23,545 | €25,088 | +€1,543 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,545 | €25,088 | +€1,543 | +6.6% |
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 16 October 2026 via checked.be.