CDSE: 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.
CDSE
Largest movements
- Tangible fixed assets +€26,196
up €26,196 (+263.6%), from €9,937 to €36,133
- Cash -€3,005
down €3,005 (-9.2%), from €32,655 to €29,649
mainly Investment in fixed assets (net) (-€32,636) and Other debts (-€14,033)
- Other debts -€14,033
down €14,033 (-98.7%), from €14,222 to €190
- Debts after one year +€13,216
new in 2025: €13,216
- Profit (loss) carried forward +€13,064
up €13,064 (+112.4%), from €11,621 to €24,685
- Current portion of long-term debt +€8,005
new in 2025: €8,005
- Accrued charges and deferred income +€4,000
new in 2025: €4,000
- Gross operating margin +€10,424
up €10,424 (+79.7%), from €13,079 to €23,503
- Depreciation +€3,630
up €3,630 (+129.2%), from €2,810 to €6,440
- Taxes +€1,224
up €1,224 (+59.9%), from €2,042 to €3,266
- Other operating charges +€366
up €366 (+202.0%), from €181 to €547
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 | €42,591 | €65,782 | +€23,191 | +54.4% |
| Fixed assets | 21/28 | €9,937 | €36,133 | +€26,196 | +263.6% |
| Tangible fixed assets | 22/27 | €9,937 | €36,133 | +€26,196 | +263.6% |
| Furniture and vehicles | 24 | €9,937 | €36,133 | +€26,196 | +263.6% |
| Current assets | 29/58 | €32,655 | €29,649 | -€3,005 | -9.2% |
| Cash at bank and in hand | 54/58 | €32,655 | €29,649 | -€3,005 | -9.2% |
| Total equity and liabilities | 10/49 | €42,591 | €65,782 | +€23,191 | +54.4% |
| Equity | 10/15 | €14,621 | €27,685 | +€13,064 | +89.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,621 | €24,685 | +€13,064 | +112.4% |
| Amounts payable | 17/49 | €27,970 | €38,097 | +€10,127 | +36.2% |
| Amounts payable after more than one year | 17 | - | €13,216 | +€13,216 | |
| Financial debts | 170/4 | - | €13,216 | +€13,216 | |
| Amounts payable within one year | 42/48 | €27,970 | €20,881 | -€7,089 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | - | €8,005 | +€8,005 | |
| Trade debts | 44 | €266 | €1,311 | +€1,045 | +392.6% |
| Suppliers | 440/4 | €266 | €1,311 | +€1,045 | +392.6% |
| Taxes, remuneration and social security | 45 | €13,481 | €11,374 | -€2,107 | -15.6% |
| Taxes | 450/3 | €3,681 | €5,324 | +€1,643 | +44.6% |
| Remuneration and social security | 454/9 | €9,800 | €6,050 | -€3,750 | -38.3% |
| Other amounts payable | 47/48 | €14,222 | €190 | -€14,033 | -98.7% |
| Accrued charges and deferred income | 492/3 | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,810 | €6,440 | +€3,630 | +129.2% |
| Other operating charges | 640/8 | €181 | €547 | +€366 | +202.0% |
| Gross operating margin | 9900 | €13,079 | €23,503 | +€10,424 | +79.7% |
| Operating profit (loss) | 9901 | €10,088 | €16,516 | +€6,428 | +63.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €59 | €187 | +€128 | +215.7% |
| Recurring financial charges | 65 | €59 | €187 | +€128 | +215.7% |
| Profit (loss) for the period before taxes | 9903 | €10,030 | €16,330 | +€6,300 | +62.8% |
| Income taxes | 67/77 | €2,042 | €3,266 | +€1,224 | +59.9% |
| Profit (loss) for the period | 9904 | €7,988 | €13,064 | +€5,076 | +63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,988 | €13,064 | +€5,076 | +63.6% |
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 8 October 2026 via checked.be.