CDS: 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.
CDS
Largest movements
- Cash +€64,480
up €64,480 (+73.0%), from €88,390 to €152,870
mainly Net result for the year (+€82,523) and Depreciation (+€3,289)
- Receivables within one year +€11,729
up €11,729 (+88.6%), from €13,235 to €24,964
of which Trade receivables: +€13,075
- Tangible fixed assets +€7,425
up €7,425 (+404.0%), from €1,838 to €9,263
of which Furniture and vehicles: +€5,240
- Reserves +€82,523
up €82,523 (+98.9%), from €83,402 to €165,925
- Gross operating margin +€38,183
up €38,183 (+54.3%), from €70,357 to €108,540
- Taxes +€7,908
up €7,908 (+58.7%), from €13,479 to €21,386
- Financial charges -€2,141
down €2,141 (-69.8%), from €3,067 to €925
- Depreciation +€2,010
up €2,010 (+157.2%), from €1,278 to €3,289
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 | €103,462 | €187,097 | +€83,635 | +80.8% |
| Fixed assets | 21/28 | €1,838 | €9,263 | +€7,425 | +404.0% |
| Tangible fixed assets | 22/27 | €1,838 | €9,263 | +€7,425 | +404.0% |
| Plant, machinery and equipment | 23 | - | €2,185 | +€2,185 | |
| Furniture and vehicles | 24 | €1,838 | €7,078 | +€5,240 | +285.1% |
| Current assets | 29/58 | €101,624 | €177,834 | +€76,210 | +75.0% |
| Amounts receivable within one year | 40/41 | €13,235 | €24,964 | +€11,729 | +88.6% |
| Trade receivables | 40 | €11,775 | €24,850 | +€13,075 | +111.0% |
| Other amounts receivable | 41 | €1,460 | €114 | -€1,346 | -92.2% |
| Cash at bank and in hand | 54/58 | €88,390 | €152,870 | +€64,480 | +73.0% |
| Total equity and liabilities | 10/49 | €103,462 | €187,097 | +€83,635 | +80.8% |
| Equity | 10/15 | €86,402 | €168,925 | +€82,523 | +95.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €83,402 | €165,925 | +€82,523 | +98.9% |
| Distributable reserves | 133 | €83,402 | €165,925 | +€82,523 | +98.9% |
| Amounts payable | 17/49 | €17,060 | €18,173 | +€1,112 | +6.5% |
| Amounts payable within one year | 42/48 | €16,845 | €18,173 | +€1,327 | +7.9% |
| Trade debts | 44 | €1,232 | €826 | -€406 | -33.0% |
| Suppliers | 440/4 | €1,232 | €826 | -€406 | -33.0% |
| Taxes, remuneration and social security | 45 | €15,614 | €17,347 | +€1,733 | +11.1% |
| Taxes | 450/3 | €13,479 | €17,347 | +€3,868 | +28.7% |
| Remuneration and social security | 454/9 | €2,135 | - | -€2,135 | |
| Accrued charges and deferred income | 492/3 | €215 | - | -€215 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,278 | €3,289 | +€2,010 | +157.2% |
| Other operating charges | 640/8 | €63 | €417 | +€354 | +562.7% |
| Gross operating margin | 9900 | €70,357 | €108,540 | +€38,183 | +54.3% |
| Operating profit (loss) | 9901 | €69,016 | €104,835 | +€35,819 | +51.9% |
| Financial charges | 65/66B | €3,067 | €925 | -€2,141 | -69.8% |
| Recurring financial charges | 65 | €3,067 | €925 | -€2,141 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | €65,949 | €103,909 | +€37,960 | +57.6% |
| Income taxes | 67/77 | €13,479 | €21,386 | +€7,908 | +58.7% |
| Profit (loss) for the period | 9904 | €52,470 | €82,523 | +€30,052 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,470 | €82,523 | +€30,052 | +57.3% |
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 28 September 2026 via checked.be.