CDP: 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.
CDP
Largest movements
- Receivables after one year -€300,000
down €300,000 (-100%), from €300,000 to €0
- Cash +€279,861
up €279,861 (+172%), from €162,359 to €442,220
mainly Receivables after one year (+€300,000) and Current investments (+€163,593)
- Current investments -€163,593
down €163,593 (-16.4%), from €998,807 to €835,214
- Receivables within one year -€65,915
down €65,915 (-66.3%), from €99,375 to €33,461
of which Other amounts receivable: -€58,655
- Tangible fixed assets -€43,579
down €43,579 (-9.3%), from €471,035 to €427,455
of which Land and buildings: -€27,868
- Current portion of long-term debt -€308,369
down €308,369 (-95.0%), from €324,551 to €16,182
- Reserves +€28,100
up €28,100 (+2.9%), from €969,736 to €997,836
of which Distributable reserves: +€28,100
- Depreciation -€10,279
down €10,279 (-18.7%), from €54,978 to €44,698
- Gross operating margin -€6,786
down €6,786 (-4.5%), from €149,393 to €142,606
- Taxes +€5,507
up €5,507 (+12.9%), from €42,809 to €48,316
- Financial charges -€3,884
down €3,884 (-91.4%), from €4,247 to €364
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,033,697 | €1,740,488 | -€293,209 | -14.4% |
| Fixed assets | 21/28 | €471,035 | €427,455 | -€43,579 | -9.3% |
| Tangible fixed assets | 22/27 | €471,035 | €427,455 | -€43,579 | -9.3% |
| Land and buildings | 22 | €419,957 | €392,089 | -€27,868 | -6.6% |
| Furniture and vehicles | 24 | €50,326 | €34,946 | -€15,380 | -30.6% |
| Other tangible fixed assets | 26 | €752 | €421 | -€331 | -44.0% |
| Current assets | 29/58 | €1,562,662 | €1,313,033 | -€249,630 | -16.0% |
| Amounts receivable after more than one year | 29 | €300,000 | €0 | -€300,000 | -100% |
| Other amounts receivable | 291 | €300,000 | €0 | -€300,000 | -100% |
| Amounts receivable within one year | 40/41 | €99,375 | €33,461 | -€65,915 | -66.3% |
| Trade receivables | 40 | €38,841 | €31,581 | -€7,260 | -18.7% |
| Other amounts receivable | 41 | €60,534 | €1,880 | -€58,655 | -96.9% |
| Current investments | 50/53 | €998,807 | €835,214 | -€163,593 | -16.4% |
| Cash at bank and in hand | 54/58 | €162,359 | €442,220 | +€279,861 | +172% |
| Deferred charges and accrued income | 490/1 | €2,121 | €2,138 | +€17 | +0.8% |
| Total equity and liabilities | 10/49 | €2,033,697 | €1,740,488 | -€293,209 | -14.4% |
| Equity | 10/15 | €1,617,555 | €1,645,675 | +€28,120 | +1.7% |
| Contributions | 10/11 | €636,200 | €636,200 | = | 0.0% |
| Reserves | 13 | €969,736 | €997,836 | +€28,100 | +2.9% |
| Non-distributable reserves | 130/1 | €37,986 | €37,986 | = | 0.0% |
| Other | 1319 | €37,986 | €37,986 | = | 0.0% |
| Distributable reserves | 133 | €931,750 | €959,850 | +€28,100 | +3.0% |
| Profit (loss) carried forward | 14 | €11,619 | €11,639 | +€20 | +0.2% |
| Amounts payable | 17/49 | €416,142 | €94,813 | -€321,329 | -77.2% |
| Amounts payable after more than one year | 17 | €81,655 | €65,473 | -€16,182 | -19.8% |
| Financial debts | 170/4 | €81,655 | €65,473 | -€16,182 | -19.8% |
| Amounts payable within one year | 42/48 | €334,486 | €28,541 | -€305,945 | -91.5% |
| Current portion of amounts payable after more than one year | 42 | €324,551 | €16,182 | -€308,369 | -95.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €108 | €1,940 | +€1,833 | +1,704% |
| Suppliers | 440/4 | €108 | €1,940 | +€1,833 | +1,704% |
| Taxes, remuneration and social security | 45 | €9,827 | €7,500 | -€2,327 | -23.7% |
| Taxes | 450/3 | €9,827 | €7,500 | -€2,327 | -23.7% |
| Other amounts payable | 47/48 | €0 | €2,918 | +€2,918 | |
| Accrued charges and deferred income | 492/3 | - | €799 | +€799 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,978 | €44,698 | -€10,279 | -18.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €4,459 | €5,452 | +€993 | +22.3% |
| Gross operating margin | 9900 | €149,393 | €142,606 | -€6,786 | -4.5% |
| Operating profit (loss) | 9901 | €89,956 | €92,456 | +€2,500 | +2.8% |
| Financial income | 75/76B | €59,205 | €59,344 | +€139 | +0.2% |
| Recurring financial income | 75 | €59,205 | €59,344 | +€139 | +0.2% |
| Financial charges | 65/66B | €4,247 | €364 | -€3,884 | -91.4% |
| Recurring financial charges | 65 | €4,247 | €364 | -€3,884 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | €144,913 | €151,436 | +€6,523 | +4.5% |
| Income taxes | 67/77 | €42,809 | €48,316 | +€5,507 | +12.9% |
| Profit (loss) for the period | 9904 | €102,105 | €103,120 | +€1,015 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €102,105 | €103,120 | +€1,015 | +1.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.