CDL PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€159,939
new in 2025: €159,939
of which Trade receivables: +€137,959
- Cash +€20,886
up €20,886 (+130%), from €16,052 to €36,938
mainly Net result for the year (+€147,379) and Tax, wage and social debts (+€38,651)
- Tangible fixed assets +€2,911
new in 2025: €2,911
of which Plant, machinery and equipment: +€1,978
- Reserves +€147,379
up €147,379 (+670%), from €21,994 to €169,373
- Tax, wage and social debts +€38,651
up €38,651 (+472%), from €8,190 to €46,841
of which Taxes: +€38,651
- Gross operating margin +€166,740
up €166,740 (+578%), from €28,837 to €195,577
- Taxes +€38,651
up €38,651 (+572%), from €6,753 to €45,404
- Financial charges +€2,457
up €2,457 (+2,728%), from €90 to €2,547
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 | €36,473 | €220,874 | +€184,401 | +506% |
| Fixed assets | 21/28 | - | €3,536 | +€3,536 | |
| Tangible fixed assets | 22/27 | - | €2,911 | +€2,911 | |
| Plant, machinery and equipment | 23 | - | €1,978 | +€1,978 | |
| Other tangible fixed assets | 26 | - | €933 | +€933 | |
| Financial fixed assets | 28 | - | €625 | +€625 | |
| Current assets | 29/58 | €36,473 | €217,338 | +€180,865 | +496% |
| Amounts receivable within one year | 40/41 | - | €159,939 | +€159,939 | |
| Trade receivables | 40 | - | €137,959 | +€137,959 | |
| Other amounts receivable | 41 | - | €21,980 | +€21,980 | |
| Cash at bank and in hand | 54/58 | €16,052 | €36,938 | +€20,886 | +130% |
| Deferred charges and accrued income | 490/1 | €20,420 | €20,460 | +€40 | +0.2% |
| Total equity and liabilities | 10/49 | €36,473 | €220,874 | +€184,401 | +506% |
| Equity | 10/15 | €22,994 | €170,373 | +€147,379 | +641% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €21,994 | €169,373 | +€147,379 | +670% |
| Distributable reserves | 133 | €21,994 | €169,373 | +€147,379 | +670% |
| Amounts payable | 17/49 | €13,479 | €50,501 | +€37,022 | +275% |
| Amounts payable within one year | 42/48 | €13,479 | €50,501 | +€37,022 | +275% |
| Trade debts | 44 | €3,706 | €3,659 | -€47 | -1.3% |
| Suppliers | 440/4 | €3,706 | €3,659 | -€47 | -1.3% |
| Taxes, remuneration and social security | 45 | €8,190 | €46,841 | +€38,651 | +472% |
| Taxes | 450/3 | €6,753 | €45,404 | +€38,651 | +572% |
| Remuneration and social security | 454/9 | €1,437 | €1,437 | = | 0.0% |
| Other amounts payable | 47/48 | €1,582 | - | -€1,582 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €471 | +€471 | |
| Other operating charges | 640/8 | - | €126 | +€126 | |
| Gross operating margin | 9900 | €28,837 | €195,577 | +€166,740 | +578% |
| Operating profit (loss) | 9901 | €28,837 | €194,980 | +€166,143 | +576% |
| Financial income | 75/76B | - | €351 | +€351 | |
| Recurring financial income | 75 | - | €351 | +€351 | |
| Financial charges | 65/66B | €90 | €2,547 | +€2,457 | +2,728% |
| Recurring financial charges | 65 | €90 | €2,547 | +€2,457 | +2,728% |
| Profit (loss) for the period before taxes | 9903 | €28,747 | €192,784 | +€164,037 | +571% |
| Income taxes | 67/77 | €6,753 | €45,404 | +€38,651 | +572% |
| Profit (loss) for the period | 9904 | €21,994 | €147,379 | +€125,385 | +570% |
| Profit (loss) for the period to be appropriated | 9905 | €21,994 | €147,379 | +€125,385 | +570% |
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 28 October 2026 via checked.be.