CDN IMMO: 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.
CDN IMMO
Largest movements
- Tangible fixed assets -€45,598
down €45,598 (-4.0%), from €1.1m to €1.1m
of which Land and buildings: -€25,241
- Financial fixed assets -€22,988
no longer reported in 2025 (was €22,988)
- Deferred charges and accrued income -€16,039
no longer reported in 2025 (was €16,039)
- Cash -€15,924
down €15,924 (-49.0%), from €32,487 to €16,562
mainly Net result for the year (-€117,308) and Debts after one year (-€66,628)
- Receivables within one year -€15,351
down €15,351 (-23.1%), from €66,324 to €50,973
of which Other amounts receivable: -€63,238
- Profit (loss) carried forward -€117,308
down €117,308 (-6446.1%), from -€1,820 to -€119,128
- Debts after one year -€66,628
down €66,628 (-8.1%), from €818,994 to €752,366
- Trade debts +€50,794
up €50,794 (+142.9%), from €35,550 to €86,343
- Current portion of long-term debt +€15,733
up €15,733 (+34.2%), from €45,944 to €61,677
- Gross operating margin -€255,449
down €255,449 (-90.6%), from €281,862 to €26,413
- Financial charges -€69,578
down €69,578 (-62.1%), from €111,953 to €42,375
- Depreciation -€12,457
down €12,457 (-12.1%), from €103,040 to €90,583
- Other operating charges -€11,530
down €11,530 (-50.7%), from €22,755 to €11,225
- Taxes -€2,852
down €2,852 (-92.8%), from €3,073 to €221
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 | €1,277,077 | €1,161,177 | -€115,900 | -9.1% |
| Fixed assets | 21/28 | €1,162,227 | €1,093,642 | -€68,585 | -5.9% |
| Tangible fixed assets | 22/27 | €1,139,239 | €1,093,642 | -€45,598 | -4.0% |
| Land and buildings | 22 | €617,709 | €592,468 | -€25,241 | -4.1% |
| Plant, machinery and equipment | 23 | €518,440 | €499,035 | -€19,405 | -3.7% |
| Furniture and vehicles | 24 | €3,091 | €2,139 | -€952 | -30.8% |
| Financial fixed assets | 28 | €22,988 | - | -€22,988 | |
| Current assets | 29/58 | €114,850 | €67,535 | -€47,315 | -41.2% |
| Amounts receivable within one year | 40/41 | €66,324 | €50,973 | -€15,351 | -23.1% |
| Trade receivables | 40 | €3,087 | €50,973 | +€47,886 | +1551.3% |
| Other amounts receivable | 41 | €63,238 | - | -€63,238 | |
| Cash at bank and in hand | 54/58 | €32,487 | €16,562 | -€15,924 | -49.0% |
| Deferred charges and accrued income | 490/1 | €16,039 | - | -€16,039 | |
| Total equity and liabilities | 10/49 | €1,277,077 | €1,161,177 | -€115,900 | -9.1% |
| Equity | 10/15 | €18,180 | -€99,128 | -€117,308 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,820 | -€119,128 | -€117,308 | -6446.1% |
| Amounts payable | 17/49 | €1,258,897 | €1,260,305 | +€1,408 | +0.1% |
| Amounts payable after more than one year | 17 | €818,994 | €752,366 | -€66,628 | -8.1% |
| Financial debts | 170/4 | €818,994 | €752,366 | -€66,628 | -8.1% |
| Amounts payable within one year | 42/48 | €439,903 | €507,939 | +€68,036 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €45,944 | €61,677 | +€15,733 | +34.2% |
| Trade debts | 44 | €35,550 | €86,343 | +€50,794 | +142.9% |
| Suppliers | 440/4 | €35,550 | €86,343 | +€50,794 | +142.9% |
| Advances received on contracts in progress | 46 | €4,105 | - | -€4,105 | |
| Taxes, remuneration and social security | 45 | €5,446 | €3,425 | -€2,021 | -37.1% |
| Taxes | 450/3 | €3,746 | €3,425 | -€321 | -8.6% |
| Remuneration and social security | 454/9 | €1,700 | - | -€1,700 | |
| Other amounts payable | 47/48 | €348,858 | €356,493 | +€7,635 | +2.2% |
| Non-recurring operating income | 76A | €311,480 | - | -€311,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,040 | €90,583 | -€12,457 | -12.1% |
| Other operating charges | 640/8 | €22,755 | €11,225 | -€11,530 | -50.7% |
| Non-recurring operating charges | 66A | €23,506 | - | -€23,506 | |
| Gross operating margin | 9900 | €281,862 | €26,413 | -€255,449 | -90.6% |
| Operating profit (loss) | 9901 | €132,560 | -€75,396 | -€207,956 | |
| Financial income | 75/76B | - | €683 | +€683 | |
| Recurring financial income | 75 | - | €683 | +€683 | |
| Financial charges | 65/66B | €111,953 | €42,375 | -€69,578 | -62.1% |
| Recurring financial charges | 65 | €111,953 | €42,375 | -€69,578 | -62.1% |
| Profit (loss) for the period before taxes | 9903 | €20,607 | -€117,087 | -€137,694 | |
| Income taxes | 67/77 | €3,073 | €221 | -€2,852 | -92.8% |
| Profit (loss) for the period | 9904 | €17,535 | -€117,308 | -€134,842 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,535 | -€117,308 | -€134,842 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.