CDN TRADING: 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.
CDN TRADING
Largest movements
- Tangible fixed assets +€374,380
up €374,380 (+57.2%), from €654,665 to €1.0m
- Receivables within one year -€281,838
down €281,838 (-74.7%), from €377,485 to €95,647
of which Trade receivables: -€321,863
- Other debts +€263,010
up €263,010 (+1,686%), from €15,600 to €278,610
- Trade debts -€124,598
down €124,598 (-33.4%), from €372,804 to €248,207
- Debts after one year -€48,128
down €48,128 (-9.0%), from €535,438 to €487,311
of which Financial debts: -€63,128
- Gross operating margin +€28,489
up €28,489, from -€9,459 to €19,030
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 | €1,038,179 | €1,135,751 | +€97,572 | +9.4% |
| Fixed assets | 21/28 | €659,361 | €1,033,741 | +€374,380 | +56.8% |
| Intangible fixed assets | 21 | €1,040 | €1,040 | = | 0.0% |
| Tangible fixed assets | 22/27 | €654,665 | €1,029,045 | +€374,380 | +57.2% |
| Plant, machinery and equipment | 23 | €98,069 | €213,602 | +€115,534 | +118% |
| Furniture and vehicles | 24 | €42,653 | €75,342 | +€32,689 | +76.6% |
| Other tangible fixed assets | 26 | €388,923 | €531,083 | +€142,160 | +36.6% |
| Assets under construction and advance payments | 27 | €125,021 | €209,018 | +€83,997 | +67.2% |
| Financial fixed assets | 28 | €3,656 | €3,656 | = | 0.0% |
| Current assets | 29/58 | €378,818 | €102,010 | -€276,809 | -73.1% |
| Amounts receivable within one year | 40/41 | €377,485 | €95,647 | -€281,838 | -74.7% |
| Trade receivables | 40 | €341,703 | €19,840 | -€321,863 | -94.2% |
| Other amounts receivable | 41 | €35,782 | €75,807 | +€40,025 | +112% |
| Cash at bank and in hand | 54/58 | €1,333 | €3,868 | +€2,535 | +190% |
| Deferred charges and accrued income | 490/1 | - | €2,494 | +€2,494 | |
| Total equity and liabilities | 10/49 | €1,038,179 | €1,135,751 | +€97,572 | +9.4% |
| Equity | 10/15 | €52,906 | €57,564 | +€4,658 | +8.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,094 | -€42,436 | +€4,658 | +9.9% |
| Amounts payable | 17/49 | €985,273 | €1,078,187 | +€92,914 | +9.4% |
| Amounts payable after more than one year | 17 | €535,438 | €487,311 | -€48,128 | -9.0% |
| Financial debts | 170/4 | €240,438 | €177,311 | -€63,128 | -26.3% |
| Other amounts payable | 178/9 | €295,000 | €310,000 | +€15,000 | +5.1% |
| Amounts payable within one year | 42/48 | €448,670 | €589,945 | +€141,275 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €60,265 | €63,128 | +€2,863 | +4.8% |
| Trade debts | 44 | €372,804 | €248,207 | -€124,598 | -33.4% |
| Suppliers | 440/4 | €372,804 | €248,207 | -€124,598 | -33.4% |
| Other amounts payable | 47/48 | €15,600 | €278,610 | +€263,010 | +1,686% |
| Accrued charges and deferred income | 492/3 | €1,165 | €932 | -€234 | -20.0% |
| Other operating charges | 640/8 | €668 | €503 | -€165 | -24.7% |
| Gross operating margin | 9900 | -€9,459 | €19,030 | +€28,489 | |
| Operating profit (loss) | 9901 | -€10,127 | €18,528 | +€28,654 | |
| Financial income | 75/76B | €78 | €1 | -€77 | -99.2% |
| Recurring financial income | 75 | €78 | €1 | -€77 | -99.2% |
| Financial charges | 65/66B | €13,893 | €13,871 | -€22 | -0.2% |
| Recurring financial charges | 65 | €13,893 | €13,871 | -€22 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€23,942 | €4,658 | +€28,599 | |
| Profit (loss) for the period | 9904 | -€23,942 | €4,658 | +€28,599 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,942 | €4,658 | +€28,599 |
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 19 October 2026 via checked.be.