CDh Projects: 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.
CDh Projects
Largest movements
- Current investments +€120,000
up €120,000, from €0 to €120,000
- Receivables within one year +€21,252
up €21,252 (+102.5%), from €20,736 to €41,988
of which Trade receivables: +€19,765
- Tangible fixed assets -€5,452
down €5,452 (-41.1%), from €13,272 to €7,820
of which Furniture and vehicles: -€7,843
- Reserves +€91,468
up €91,468 (+62.7%), from €145,819 to €237,287
- Trade debts +€32,326
up €32,326 (+2178.9%), from €1,484 to €33,810
- Tax, wage and social debts +€11,679
up €11,679 (+50.5%), from €23,143 to €34,823
- Gross operating margin +€21,844
up €21,844 (+22.7%), from €96,095 to €117,939
- Taxes +€4,102
up €4,102 (+19.4%), from €21,179 to €25,281
- Financial income +€1,526
up €1,526 (+68.9%), from €2,213 to €3,739
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 | €172,023 | €308,175 | +€136,152 | +79.1% |
| Fixed assets | 21/28 | €14,550 | €8,708 | -€5,842 | -40.1% |
| Intangible fixed assets | 21 | €1,278 | €888 | -€390 | -30.5% |
| Tangible fixed assets | 22/27 | €13,272 | €7,820 | -€5,452 | -41.1% |
| Plant, machinery and equipment | 23 | €1,099 | €3,490 | +€2,391 | +217.7% |
| Furniture and vehicles | 24 | €12,173 | €4,331 | -€7,843 | -64.4% |
| Current assets | 29/58 | €157,473 | €299,467 | +€141,993 | +90.2% |
| Stocks and contracts in progress | 3 | €2,060 | €881 | -€1,179 | -57.2% |
| Stocks | 30/36 | €2,060 | €881 | -€1,179 | -57.2% |
| Amounts receivable within one year | 40/41 | €20,736 | €41,988 | +€21,252 | +102.5% |
| Trade receivables | 40 | €20,555 | €40,320 | +€19,765 | +96.2% |
| Other amounts receivable | 41 | €182 | €1,668 | +€1,487 | +818.5% |
| Current investments | 50/53 | €0 | €120,000 | +€120,000 | |
| Cash at bank and in hand | 54/58 | €130,309 | €130,260 | -€49 | 0.0% |
| Deferred charges and accrued income | 490/1 | €4,368 | €6,337 | +€1,969 | +45.1% |
| Total equity and liabilities | 10/49 | €172,023 | €308,175 | +€136,152 | +79.1% |
| Equity | 10/15 | €146,819 | €238,287 | +€91,468 | +62.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €145,819 | €237,287 | +€91,468 | +62.7% |
| Distributable reserves | 133 | €145,819 | €237,287 | +€91,468 | +62.7% |
| Amounts payable | 17/49 | €25,204 | €69,888 | +€44,684 | +177.3% |
| Amounts payable within one year | 42/48 | €25,110 | €68,633 | +€43,523 | +173.3% |
| Trade debts | 44 | €1,484 | €33,810 | +€32,326 | +2178.9% |
| Suppliers | 440/4 | €1,484 | €33,810 | +€32,326 | +2178.9% |
| Taxes, remuneration and social security | 45 | €23,143 | €34,823 | +€11,679 | +50.5% |
| Taxes | 450/3 | €23,143 | €34,823 | +€11,679 | +50.5% |
| Other amounts payable | 47/48 | €483 | €0 | -€483 | -100.0% |
| Accrued charges and deferred income | 492/3 | €94 | €1,255 | +€1,161 | +1230.8% |
| Non-recurring operating income | 76A | - | €12,163 | +€12,163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,339 | €3,871 | +€532 | +15.9% |
| Other operating charges | 640/8 | €768 | €768 | -€0 | 0.0% |
| Gross operating margin | 9900 | €96,095 | €117,939 | +€21,844 | +22.7% |
| Operating profit (loss) | 9901 | €91,988 | €113,300 | +€21,313 | +23.2% |
| Financial income | 75/76B | €2,213 | €3,739 | +€1,526 | +68.9% |
| Recurring financial income | 75 | €2,213 | €3,739 | +€1,526 | +68.9% |
| Financial charges | 65/66B | €327 | €290 | -€37 | -11.2% |
| Recurring financial charges | 65 | €327 | €290 | -€37 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €93,874 | €116,749 | +€22,875 | +24.4% |
| Income taxes | 67/77 | €21,179 | €25,281 | +€4,102 | +19.4% |
| Profit (loss) for the period | 9904 | €72,694 | €91,468 | +€18,773 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,694 | €91,468 | +€18,773 | +25.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.