CDS-1: 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-1
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward -€28,916
down €28,916 (-10.2%), from -€283,325 to -€312,241
- Other debts +€25,574
up €25,574 (+6.1%), from €420,369 to €445,943
- Gross operating margin +€21,677
up €21,677 (+69.8%), from -€31,070 to -€9,393
- Financial charges +€2,785
up €2,785 (+778.4%), from €358 to €3,143
- Other operating charges -€1,628
down €1,628 (-14.3%), from €11,402 to €9,774
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 | €2,267,586 | €2,260,911 | -€6,675 | -0.3% |
| Fixed assets | 21/28 | €2,068,950 | €2,062,344 | -€6,606 | -0.3% |
| Tangible fixed assets | 22/27 | €2,068,650 | €2,062,044 | -€6,606 | -0.3% |
| Land and buildings | 22 | €2,068,650 | €2,062,044 | -€6,606 | -0.3% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €198,636 | €198,567 | -€69 | 0.0% |
| Stocks and contracts in progress | 3 | €176,246 | €176,246 | = | 0.0% |
| Stocks | 30/36 | €176,246 | €176,246 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,982 | €21,982 | = | 0.0% |
| Other amounts receivable | 41 | €21,982 | €21,982 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €408 | €339 | -€69 | -16.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,267,586 | €2,260,911 | -€6,675 | -0.3% |
| Equity | 10/15 | €1,816,675 | €1,787,759 | -€28,916 | -1.6% |
| Contributions | 10/11 | €2,100,000 | €2,100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€283,325 | -€312,241 | -€28,916 | -10.2% |
| Amounts payable | 17/49 | €450,911 | €473,152 | +€22,241 | +4.9% |
| Amounts payable within one year | 42/48 | €450,911 | €473,152 | +€22,241 | +4.9% |
| Trade debts | 44 | €30,541 | €27,209 | -€3,333 | -10.9% |
| Suppliers | 440/4 | €30,541 | €27,209 | -€3,333 | -10.9% |
| Other amounts payable | 47/48 | €420,369 | €445,943 | +€25,574 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,606 | €6,606 | = | 0.0% |
| Other operating charges | 640/8 | €11,402 | €9,774 | -€1,628 | -14.3% |
| Gross operating margin | 9900 | -€31,070 | -€9,393 | +€21,677 | +69.8% |
| Operating profit (loss) | 9901 | -€49,078 | -€25,773 | +€23,305 | +47.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €358 | €3,143 | +€2,785 | +778.4% |
| Recurring financial charges | 65 | €358 | €3,143 | +€2,785 | +778.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,436 | -€28,916 | +€20,520 | +41.5% |
| Profit (loss) for the period | 9904 | -€49,436 | -€28,916 | +€20,520 | +41.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,436 | -€28,916 | +€20,520 | +41.5% |
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 3 October 2026 via checked.be.