CDRD: 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.
CDRD
Largest movements
- Cash +€123,280
up €123,280 (+269.3%), from €45,776 to €169,056
mainly Current investments (+€60,000) and Net result for the year (+€48,612)
- Current investments -€60,000
no longer reported in 2025 (was €60,000)
- Deferred charges and accrued income -€18,918
down €18,918 (-68.7%), from €27,524 to €8,606
- Receivables within one year +€4,887
up €4,887 (+35.6%), from €13,739 to €18,626
of which Other amounts receivable: +€8,643
- Tangible fixed assets -€2,369
down €2,369 (-36.2%), from €6,548 to €4,179
- Profit (loss) carried forward +€48,612
up €48,612 (+43.6%), from €111,450 to €160,063
- Gross operating margin -€19,116
down €19,116 (-23.0%), from €82,969 to €63,853
- Taxes -€3,536
down €3,536 (-20.4%), from €17,325 to €13,790
- Financial income +€2,057
new in 2025: €2,057
- Depreciation +€1,116
up €1,116 (+59.0%), from €1,891 to €3,008
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 | €153,587 | €200,467 | +€46,880 | +30.5% |
| Fixed assets | 21/28 | €6,548 | €4,179 | -€2,369 | -36.2% |
| Tangible fixed assets | 22/27 | €6,548 | €4,179 | -€2,369 | -36.2% |
| Furniture and vehicles | 24 | €6,548 | €4,179 | -€2,369 | -36.2% |
| Current assets | 29/58 | €147,039 | €196,288 | +€49,250 | +33.5% |
| Amounts receivable within one year | 40/41 | €13,739 | €18,626 | +€4,887 | +35.6% |
| Trade receivables | 40 | €13,739 | €9,983 | -€3,756 | -27.3% |
| Other amounts receivable | 41 | - | €8,643 | +€8,643 | |
| Current investments | 50/53 | €60,000 | - | -€60,000 | |
| Cash at bank and in hand | 54/58 | €45,776 | €169,056 | +€123,280 | +269.3% |
| Deferred charges and accrued income | 490/1 | €27,524 | €8,606 | -€18,918 | -68.7% |
| Total equity and liabilities | 10/49 | €153,587 | €200,467 | +€46,880 | +30.5% |
| Equity | 10/15 | €111,950 | €160,563 | +€48,612 | +43.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,450 | €160,063 | +€48,612 | +43.6% |
| Amounts payable | 17/49 | €41,636 | €39,904 | -€1,732 | -4.2% |
| Amounts payable within one year | 42/48 | €41,636 | €39,904 | -€1,732 | -4.2% |
| Trade debts | 44 | €2,578 | €1,980 | -€598 | -23.2% |
| Suppliers | 440/4 | €2,578 | €1,980 | -€598 | -23.2% |
| Taxes, remuneration and social security | 45 | €37,690 | €37,924 | +€235 | +0.6% |
| Taxes | 450/3 | €37,690 | €37,924 | +€235 | +0.6% |
| Other amounts payable | 47/48 | €1,368 | - | -€1,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,891 | €3,008 | +€1,116 | +59.0% |
| Other operating charges | 640/8 | €259 | €23 | -€236 | -91.3% |
| Gross operating margin | 9900 | €82,969 | €63,853 | -€19,116 | -23.0% |
| Operating profit (loss) | 9901 | €80,819 | €60,823 | -€19,996 | -24.7% |
| Financial income | 75/76B | - | €2,057 | +€2,057 | |
| Recurring financial income | 75 | - | €2,057 | +€2,057 | |
| Financial charges | 65/66B | €504 | €478 | -€26 | -5.1% |
| Recurring financial charges | 65 | €504 | €478 | -€26 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €80,315 | €62,402 | -€17,913 | -22.3% |
| Income taxes | 67/77 | €17,325 | €13,790 | -€3,536 | -20.4% |
| Profit (loss) for the period | 9904 | €62,990 | €48,612 | -€14,378 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,990 | €48,612 | -€14,378 | -22.8% |
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 4 October 2026 via checked.be.