CDSL MANAGEMENT: what changed
What changed
CDSL MANAGEMENT
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€132,348
2024 · €143,365-€11,017
Equity
€184,689
2024 · €202,341-€17,652
Cash
€3,088
2024 · €874+€2,214
Balance sheet total
€1.4m
2024 · €1.4m-€31,201
Largest movements
Assets
- Tangible fixed assets -€29,050
down €29,050 (-5.6%), from €520,858 to €491,808
of which Land and buildings: -€18,997
Equity and liabilities
- Debts after one year -€74,095
down €74,095 (-28.9%), from €256,746 to €182,651
- Other debts +€45,828
up €45,828 (+6.1%), from €755,076 to €800,904
- Tax, wage and social debts +€17,694
up €17,694 (+41.3%), from €42,805 to €60,499
of which Taxes: +€15,625
- Profit (loss) carried forward -€17,652
down €17,652 (-8.8%), from €200,341 to €182,689
Income statement
- Gross operating margin -€20,134
down €20,134 (-7.2%), from €280,768 to €260,635
- Provisions -€7,500
no longer reported in 2025 (was €7,500)
- Other operating charges -€5,497
down €5,497 (-60.5%), from €9,089 to €3,592
- Depreciation +€4,911
up €4,911 (+18.3%), from €26,832 to €31,743
- Staff costs -€3,568
down €3,568 (-5.7%), from €62,326 to €58,758
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€143,365
Gross operating margin
-€20,134
Staff costs
+€3,568
Depreciation
-€4,911
Provisions
+€7,500
Other operating charges
+€5,497
Financial charges
-€172
Taxes
-€2,366
Result 2025
€132,348
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€222,087
Investment
-€2,693
Financing
-€217,180
Cash 2024
€874
From operations (derived)
+€222,087
Net result for the year
+€132,348
Depreciation
+€31,743
Receivables within one year
+€4,365
Trade debts
-€10,387
Tax, wage and social debts
+€17,694
Other debts
+€45,828
Accrued charges and deferred income
+€496
Investment (derived)
-€2,693
Investment in fixed assets (net)
-€2,693
Financing
-€217,180
Debts after one year
-€74,095
Current portion of long-term debt
+€6,915
Contributions, distributions and other
-€150,000
Cash 2025
€3,088
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,411,283 | €1,380,082 | -€31,201 | -2.2% |
| Fixed assets | 21/28 | €1,340,858 | €1,311,808 | -€29,050 | -2.2% |
| Tangible fixed assets | 22/27 | €520,858 | €491,808 | -€29,050 | -5.6% |
| Land and buildings | 22 | €443,144 | €424,147 | -€18,997 | -4.3% |
| Plant, machinery and equipment | 23 | €65,946 | €58,913 | -€7,033 | -10.7% |
| Furniture and vehicles | 24 | €6,799 | €5,077 | -€1,722 | -25.3% |
| Other tangible fixed assets | 26 | €4,969 | €3,671 | -€1,298 | -26.1% |
| Financial fixed assets | 28 | €820,000 | €820,000 | = | 0.0% |
| Current assets | 29/58 | €70,424 | €68,273 | -€2,151 | -3.1% |
| Amounts receivable within one year | 40/41 | €69,550 | €65,185 | -€4,365 | -6.3% |
| Trade receivables | 40 | €69,550 | €45,185 | -€24,365 | -35.0% |
| Other amounts receivable | 41 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €874 | €3,088 | +€2,214 | +253% |
| Total equity and liabilities | 10/49 | €1,411,283 | €1,380,082 | -€31,201 | -2.2% |
| Equity | 10/15 | €202,341 | €184,689 | -€17,652 | -8.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,341 | €182,689 | -€17,652 | -8.8% |
| Provisions and deferred taxes | 16 | €45,000 | €45,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €45,000 | €45,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €45,000 | €45,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,163,941 | €1,150,393 | -€13,549 | -1.2% |
| Amounts payable after more than one year | 17 | €256,746 | €182,651 | -€74,095 | -28.9% |
| Financial debts | 170/4 | €256,746 | €182,651 | -€74,095 | -28.9% |
| Amounts payable within one year | 42/48 | €907,196 | €967,246 | +€60,050 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €62,378 | €69,293 | +€6,915 | +11.1% |
| Trade debts | 44 | €46,936 | €36,550 | -€10,387 | -22.1% |
| Suppliers | 440/4 | €46,936 | €36,550 | -€10,387 | -22.1% |
| Taxes, remuneration and social security | 45 | €42,805 | €60,499 | +€17,694 | +41.3% |
| Taxes | 450/3 | €37,221 | €52,847 | +€15,625 | +42.0% |
| Remuneration and social security | 454/9 | €5,584 | €7,652 | +€2,069 | +37.0% |
| Other amounts payable | 47/48 | €755,076 | €800,904 | +€45,828 | +6.1% |
| Accrued charges and deferred income | 492/3 | - | €496 | +€496 | |
| Remuneration, social security and pensions | 62 | €62,326 | €58,758 | -€3,568 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,832 | €31,743 | +€4,911 | +18.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €7,500 | - | -€7,500 | |
| Other operating charges | 640/8 | €9,089 | €3,592 | -€5,497 | -60.5% |
| Gross operating margin | 9900 | €280,768 | €260,635 | -€20,134 | -7.2% |
| Operating profit (loss) | 9901 | €175,022 | €166,543 | -€8,479 | -4.8% |
| Financial charges | 65/66B | €6,107 | €6,279 | +€172 | +2.8% |
| Recurring financial charges | 65 | €6,107 | €6,279 | +€172 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €168,915 | €160,264 | -€8,651 | -5.1% |
| Income taxes | 67/77 | €25,550 | €27,916 | +€2,366 | +9.3% |
| Profit (loss) for the period | 9904 | €143,365 | €132,348 | -€11,017 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €143,365 | €132,348 | -€11,017 | -7.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.