cndo: 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.
cndo
Largest movements
- Cash +€39,447
up €39,447 (+40.6%), from €97,208 to €136,655
mainly Net result for the year (+€64,581) and Other debts (+€2,761)
- Receivables within one year +€10,020
up €10,020 (+65.6%), from €15,265 to €25,285
- Tangible fixed assets +€6,795
up €6,795 (+500.1%), from €1,359 to €8,154
of which Other tangible fixed assets: +€5,464
- Financial fixed assets +€5,000
new in 2025: €5,000
- Profit (loss) carried forward +€64,581
up €64,581 (+79.1%), from €81,593 to €146,174
- Tax, wage and social debts -€4,387
down €4,387 (-17.0%), from €25,793 to €21,406
of which Remuneration and social security: -€2,942
- Other debts +€2,761
up €2,761 (+1523.8%), from €181 to €2,942
- Trade debts -€2,130
down €2,130 (-76.1%), from €2,801 to €671
- Gross operating margin -€20,344
down €20,344 (-19.8%), from €102,608 to €82,264
- Taxes -€4,576
down €4,576 (-21.9%), from €20,850 to €16,274
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 | €113,831 | €175,093 | +€61,262 | +53.8% |
| Fixed assets | 21/28 | €1,359 | €13,154 | +€11,795 | +868.1% |
| Tangible fixed assets | 22/27 | €1,359 | €8,154 | +€6,795 | +500.1% |
| Plant, machinery and equipment | 23 | €855 | €2,320 | +€1,465 | +171.3% |
| Furniture and vehicles | 24 | €503 | €370 | -€134 | -26.6% |
| Other tangible fixed assets | 26 | - | €5,464 | +€5,464 | |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €112,473 | €161,940 | +€49,467 | +44.0% |
| Amounts receivable within one year | 40/41 | €15,265 | €25,285 | +€10,020 | +65.6% |
| Trade receivables | 40 | €15,265 | €25,285 | +€10,020 | +65.6% |
| Cash at bank and in hand | 54/58 | €97,208 | €136,655 | +€39,447 | +40.6% |
| Total equity and liabilities | 10/49 | €113,831 | €175,093 | +€61,262 | +53.8% |
| Equity | 10/15 | €83,993 | €148,574 | +€64,581 | +76.9% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,593 | €146,174 | +€64,581 | +79.1% |
| Amounts payable | 17/49 | €29,838 | €26,520 | -€3,319 | -11.1% |
| Amounts payable within one year | 42/48 | €28,775 | €25,018 | -€3,756 | -13.1% |
| Trade debts | 44 | €2,801 | €671 | -€2,130 | -76.1% |
| Suppliers | 440/4 | €2,801 | €671 | -€2,130 | -76.1% |
| Taxes, remuneration and social security | 45 | €25,793 | €21,406 | -€4,387 | -17.0% |
| Taxes | 450/3 | €22,851 | €21,406 | -€1,445 | -6.3% |
| Remuneration and social security | 454/9 | €2,942 | €0 | -€2,942 | -100.0% |
| Other amounts payable | 47/48 | €181 | €2,942 | +€2,761 | +1523.8% |
| Accrued charges and deferred income | 492/3 | €1,064 | €1,502 | +€438 | +41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61 | €962 | +€901 | +1482.5% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €102,608 | €82,264 | -€20,344 | -19.8% |
| Operating profit (loss) | 9901 | €102,548 | €80,903 | -€21,645 | -21.1% |
| Financial charges | 65/66B | €104 | €48 | -€57 | -54.5% |
| Recurring financial charges | 65 | €104 | €48 | -€57 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | €102,443 | €80,855 | -€21,588 | -21.1% |
| Income taxes | 67/77 | €20,850 | €16,274 | -€4,576 | -21.9% |
| Profit (loss) for the period | 9904 | €81,593 | €64,581 | -€17,012 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €81,593 | €64,581 | -€17,012 | -20.9% |
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.