CDS: 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.
CDS
Largest movements
- Receivables within one year +€1,650
up €1,650 (+43.9%), from €3,759 to €5,409
of which Trade receivables: +€1,367
- Trade debts +€9,516
up €9,516 (+124.5%), from €7,645 to €17,162
- Other debts -€9,188
down €9,188 (-3.8%), from €244,555 to €235,367
- Profit (loss) carried forward +€917
up €917 (+0.5%), from -€184,079 to -€183,163
- Other operating charges +€628
up €628 (+17.5%), from €3,585 to €4,213
- Gross operating margin +€462
up €462 (+5.5%), from €8,325 to €8,787
- Depreciation +€410
up €410 (+13.6%), from €3,011 to €3,421
- Financial charges -€133
down €133 (-36.0%), from €370 to €237
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 | €75,447 | €76,713 | +€1,266 | +1.7% |
| Fixed assets | 21/28 | €17,099 | €16,554 | -€544 | -3.2% |
| Tangible fixed assets | 22/27 | €17,099 | €16,554 | -€544 | -3.2% |
| Land and buildings | 22 | €1,011 | €0 | -€1,011 | -100.0% |
| Plant, machinery and equipment | 23 | €2,000 | €1,640 | -€360 | -18.0% |
| Other tangible fixed assets | 26 | €14,088 | €14,914 | +€826 | +5.9% |
| Current assets | 29/58 | €58,348 | €60,159 | +€1,810 | +3.1% |
| Stocks and contracts in progress | 3 | €53,751 | €53,773 | +€22 | 0.0% |
| Stocks | 30/36 | €53,751 | €53,773 | +€22 | 0.0% |
| Amounts receivable within one year | 40/41 | €3,759 | €5,409 | +€1,650 | +43.9% |
| Trade receivables | 40 | €3,283 | €4,649 | +€1,367 | +41.6% |
| Other amounts receivable | 41 | €476 | €760 | +€284 | +59.6% |
| Cash at bank and in hand | 54/58 | €838 | €977 | +€138 | +16.5% |
| Total equity and liabilities | 10/49 | €75,447 | €76,713 | +€1,266 | +1.7% |
| Equity | 10/15 | -€177,259 | -€176,343 | +€917 | +0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€184,079 | -€183,163 | +€917 | +0.5% |
| Amounts payable | 17/49 | €252,706 | €253,056 | +€349 | +0.1% |
| Amounts payable within one year | 42/48 | €252,706 | €253,056 | +€349 | +0.1% |
| Trade debts | 44 | €7,645 | €17,162 | +€9,516 | +124.5% |
| Suppliers | 440/4 | €7,645 | €17,162 | +€9,516 | +124.5% |
| Taxes, remuneration and social security | 45 | €506 | €527 | +€21 | +4.1% |
| Taxes | 450/3 | €506 | €527 | +€21 | +4.1% |
| Other amounts payable | 47/48 | €244,555 | €235,367 | -€9,188 | -3.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,011 | €3,421 | +€410 | +13.6% |
| Other operating charges | 640/8 | €3,585 | €4,213 | +€628 | +17.5% |
| Gross operating margin | 9900 | €8,325 | €8,787 | +€462 | +5.5% |
| Operating profit (loss) | 9901 | €1,729 | €1,153 | -€576 | -33.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €370 | €237 | -€133 | -36.0% |
| Recurring financial charges | 65 | €370 | €237 | -€133 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €1,359 | €917 | -€443 | -32.6% |
| Profit (loss) for the period | 9904 | €1,359 | €917 | -€443 | -32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,359 | €917 | -€443 | -32.6% |
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 9 October 2026 via checked.be.