CDL Belgium: 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.
CDL Belgium
Largest movements
- Cash -€42,922
down €42,922 (-54.2%), from €79,212 to €36,291
mainly Net result for the year (-€99,198) and Trade debts (-€55,215)
- Stocks and contracts +€4,680
up €4,680 (+3.6%), from €128,710 to €133,390
- Financial fixed assets -€2,400
down €2,400 (-89.5%), from €2,682 to €282
- Debts after one year +€110,113
up €110,113 (+10.8%), from €1.0m to €1.1m
- Profit (loss) carried forward -€99,198
down €99,198 (-8.7%), from -€1.1m to -€1.2m
- Trade debts -€55,215
down €55,215 (-21.3%), from €258,959 to €203,743
- Tax, wage and social debts +€5,340
up €5,340 (+87.3%), from €6,115 to €11,455
of which Remuneration and social security: +€5,457
- Financial charges -€26,579
down €26,579 (-31.4%), from €84,556 to €57,977
of which Non-recurring financial charges: -€24,200
- Gross operating margin -€9,410
down €9,410 (-13.2%), from €71,042 to €61,632
- Staff costs +€6,918
up €6,918 (+8.1%), from €85,732 to €92,650
- Depreciation -€1,485
down €1,485 (-100%), from €1,485 to €0
- Other operating charges +€844
up €844 (+9.0%), from €9,360 to €10,204
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 | €213,485 | €173,234 | -€40,250 | -18.9% |
| Fixed assets | 21/28 | €2,682 | €282 | -€2,400 | -89.5% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €2,682 | €282 | -€2,400 | -89.5% |
| Current assets | 29/58 | €210,803 | €172,953 | -€37,850 | -18.0% |
| Stocks and contracts in progress | 3 | €128,710 | €133,390 | +€4,680 | +3.6% |
| Stocks | 30/36 | €128,710 | €133,390 | +€4,680 | +3.6% |
| Amounts receivable within one year | 40/41 | €2,881 | €1,795 | -€1,086 | -37.7% |
| Trade receivables | 40 | €2,475 | €1,795 | -€680 | -27.5% |
| Other amounts receivable | 41 | €406 | €0 | -€406 | -100% |
| Cash at bank and in hand | 54/58 | €79,212 | €36,291 | -€42,922 | -54.2% |
| Deferred charges and accrued income | 490/1 | - | €1,477 | +€1,477 | |
| Total equity and liabilities | 10/49 | €213,485 | €173,234 | -€40,250 | -18.9% |
| Equity | 10/15 | -€1,121,182 | -€1,220,379 | -€99,198 | -8.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,139,732 | -€1,238,929 | -€99,198 | -8.7% |
| Amounts payable | 17/49 | €1,334,667 | €1,393,614 | +€58,947 | +4.4% |
| Amounts payable after more than one year | 17 | €1,017,145 | €1,127,257 | +€110,113 | +10.8% |
| Other amounts payable | 178/9 | €1,017,145 | €1,127,257 | +€110,113 | +10.8% |
| Amounts payable within one year | 42/48 | €317,522 | €266,357 | -€51,165 | -16.1% |
| Trade debts | 44 | €258,959 | €203,743 | -€55,215 | -21.3% |
| Suppliers | 440/4 | €258,959 | €203,743 | -€55,215 | -21.3% |
| Advances received on contracts in progress | 46 | €52,448 | €51,158 | -€1,290 | -2.5% |
| Taxes, remuneration and social security | 45 | €6,115 | €11,455 | +€5,340 | +87.3% |
| Taxes | 450/3 | €117 | €0 | -€117 | -100% |
| Remuneration and social security | 454/9 | €5,998 | €11,455 | +€5,457 | +91.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €10,833 | €0 | -€10,833 | -100% |
| Remuneration, social security and pensions | 62 | €85,732 | €92,650 | +€6,918 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,485 | €0 | -€1,485 | -100% |
| Other operating charges | 640/8 | €9,360 | €10,204 | +€844 | +9.0% |
| Gross operating margin | 9900 | €71,042 | €61,632 | -€9,410 | -13.2% |
| Operating profit (loss) | 9901 | -€25,536 | -€41,222 | -€15,686 | -61.4% |
| Financial income | 75/76B | €290 | €1 | -€290 | -99.8% |
| Recurring financial income | 75 | €290 | €1 | -€290 | -99.8% |
| Financial charges | 65/66B | €84,556 | €57,977 | -€26,579 | -31.4% |
| Recurring financial charges | 65 | €60,356 | €57,977 | -€2,379 | -3.9% |
| Non-recurring financial charges | 66B | €24,200 | €0 | -€24,200 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€109,801 | -€99,198 | +€10,603 | +9.7% |
| Profit (loss) for the period | 9904 | -€109,801 | -€99,198 | +€10,603 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€109,801 | -€99,198 | +€10,603 | +9.7% |
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.