CDO Leuven: 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.
CDO Leuven
Largest movements
- Receivables after one year -€125,000
down €125,000 (-20.4%), from €612,500 to €487,500
- Receivables within one year -€29,553
down €29,553 (-13.6%), from €218,067 to €188,514
of which Trade receivables: -€37,549
- Tangible fixed assets -€25,851
down €25,851 (-6.6%), from €392,736 to €366,885
of which Furniture and vehicles: -€26,622
- Deferred charges and accrued income +€17,771
up €17,771 (+92.2%), from €19,271 to €37,041
- Reserves -€204,220
down €204,220 (-26.4%), from €773,661 to €569,441
- Other debts +€112,737
up €112,737 (+75.2%), from €149,917 to €262,654
- Debts after one year -€35,966
down €35,966 (-53.0%), from €67,878 to €31,913
- Advances received -€22,806
down €22,806 (-10.2%), from €223,363 to €200,558
- Gross operating margin +€90,506
up €90,506 (+12.1%), from €748,477 to €838,983
- Staff costs +€19,534
up €19,534 (+4.6%), from €427,505 to €447,039
- Taxes +€18,964
up €18,964 (+22.4%), from €84,668 to €103,632
- Depreciation +€10,762
up €10,762 (+15.0%), from €71,804 to €82,566
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 | €1,552,686 | €1,400,908 | -€151,778 | -9.8% |
| Fixed assets | 21/28 | €393,512 | €367,661 | -€25,851 | -6.6% |
| Tangible fixed assets | 22/27 | €392,736 | €366,885 | -€25,851 | -6.6% |
| Land and buildings | 22 | €281,253 | €277,168 | -€4,085 | -1.5% |
| Plant, machinery and equipment | 23 | - | €6,349 | +€6,349 | |
| Furniture and vehicles | 24 | €108,815 | €82,193 | -€26,622 | -24.5% |
| Other tangible fixed assets | 26 | €2,668 | €1,176 | -€1,492 | -55.9% |
| Financial fixed assets | 28 | €776 | €776 | = | 0.0% |
| Current assets | 29/58 | €1,159,174 | €1,033,246 | -€125,927 | -10.9% |
| Amounts receivable after more than one year | 29 | €612,500 | €487,500 | -€125,000 | -20.4% |
| Other amounts receivable | 291 | €612,500 | €487,500 | -€125,000 | -20.4% |
| Amounts receivable within one year | 40/41 | €218,067 | €188,514 | -€29,553 | -13.6% |
| Trade receivables | 40 | €140,369 | €102,820 | -€37,549 | -26.8% |
| Other amounts receivable | 41 | €77,698 | €85,694 | +€7,996 | +10.3% |
| Cash at bank and in hand | 54/58 | €309,336 | €320,191 | +€10,855 | +3.5% |
| Deferred charges and accrued income | 490/1 | €19,271 | €37,041 | +€17,771 | +92.2% |
| Total equity and liabilities | 10/49 | €1,552,686 | €1,400,908 | -€151,778 | -9.8% |
| Equity | 10/15 | €823,661 | €619,441 | -€204,220 | -24.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €773,661 | €569,441 | -€204,220 | -26.4% |
| Distributable reserves | 133 | €773,661 | €569,441 | -€204,220 | -26.4% |
| Provisions and deferred taxes | 16 | €109,241 | €109,241 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €109,241 | €109,241 | = | 0.0% |
| Pensions and similar obligations | 160 | €109,241 | €109,241 | = | 0.0% |
| Amounts payable | 17/49 | €619,784 | €672,226 | +€52,442 | +8.5% |
| Amounts payable after more than one year | 17 | €67,878 | €31,913 | -€35,966 | -53.0% |
| Financial debts | 170/4 | €67,878 | €31,913 | -€35,966 | -53.0% |
| Amounts payable within one year | 42/48 | €549,406 | €640,196 | +€90,790 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €36,589 | €37,933 | +€1,344 | +3.7% |
| Trade debts | 44 | €11,445 | €19,794 | +€8,349 | +73.0% |
| Suppliers | 440/4 | €11,445 | €19,794 | +€8,349 | +73.0% |
| Advances received on contracts in progress | 46 | €223,363 | €200,558 | -€22,806 | -10.2% |
| Taxes, remuneration and social security | 45 | €128,092 | €119,257 | -€8,835 | -6.9% |
| Taxes | 450/3 | €81,016 | €69,427 | -€11,589 | -14.3% |
| Remuneration and social security | 454/9 | €47,076 | €49,830 | +€2,754 | +5.9% |
| Other amounts payable | 47/48 | €149,917 | €262,654 | +€112,737 | +75.2% |
| Accrued charges and deferred income | 492/3 | €2,500 | €118 | -€2,382 | -95.3% |
| Remuneration, social security and pensions | 62 | €427,505 | €447,039 | +€19,534 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,804 | €82,566 | +€10,762 | +15.0% |
| Other operating charges | 640/8 | €5,191 | €5,330 | +€139 | +2.7% |
| Gross operating margin | 9900 | €748,477 | €838,983 | +€90,506 | +12.1% |
| Operating profit (loss) | 9901 | €243,978 | €304,048 | +€60,070 | +24.6% |
| Financial income | 75/76B | €20,433 | €19,457 | -€976 | -4.8% |
| Recurring financial income | 75 | €20,433 | €19,457 | -€976 | -4.8% |
| Financial charges | 65/66B | €4,662 | €3,736 | -€926 | -19.9% |
| Recurring financial charges | 65 | €4,662 | €3,736 | -€926 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €259,748 | €319,769 | +€60,020 | +23.1% |
| Income taxes | 67/77 | €84,668 | €103,632 | +€18,964 | +22.4% |
| Profit (loss) for the period | 9904 | €175,080 | €216,136 | +€41,056 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €175,080 | €216,136 | +€41,056 | +23.5% |
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 30 September 2026 via checked.be.