CNUDDE: 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.
CNUDDE
Largest movements
- Stocks and contracts +€700,785
up €700,785 (+15.6%), from €4.5m to €5.2m
- Cash +€190,205
up €190,205 (+22.1%), from €859,790 to €1.0m
mainly Net result for the year (+€707,917) and Trade debts (+€292,501)
- Receivables within one year +€177,328
up €177,328 (+72.9%), from €243,164 to €420,491
of which Trade receivables: +€174,690
- Reserves +€707,917
up €707,917 (+14.0%), from €5.1m to €5.8m
of which Distributable reserves: +€371,117
- Trade debts +€292,501
up €292,501 (+57.6%), from €508,062 to €800,563
- Other debts +€100,000
new in 2025: €100,000
- Gross operating margin -€1.0m
down €1.0m (-41.5%), from €2.5m to €1.5m
- Taxes -€194,624
down €194,624 (-40.7%), from €478,763 to €284,139
- Staff costs -€125,123
down €125,123 (-29.6%), from €423,124 to €298,001
- Write-downs +€30,308
up €30,308 (+19.4%), from €156,577 to €186,885
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 | €5,713,161 | €6,757,816 | +€1.0m | +18.3% |
| Fixed assets | 21/28 | €92,436 | €72,578 | -€19,858 | -21.5% |
| Tangible fixed assets | 22/27 | €81,259 | €68,931 | -€12,328 | -15.2% |
| Land and buildings | 22 | €62,321 | €54,193 | -€8,128 | -13.0% |
| Furniture and vehicles | 24 | €18,938 | €14,738 | -€4,200 | -22.2% |
| Financial fixed assets | 28 | €11,177 | €3,647 | -€7,530 | -67.4% |
| Current assets | 29/58 | €5,620,725 | €6,685,239 | +€1.1m | +18.9% |
| Stocks and contracts in progress | 3 | €4,500,194 | €5,200,980 | +€700,785 | +15.6% |
| Stocks | 30/36 | €4,500,194 | €5,200,980 | +€700,785 | +15.6% |
| Amounts receivable within one year | 40/41 | €243,164 | €420,491 | +€177,328 | +72.9% |
| Trade receivables | 40 | €240,804 | €415,494 | +€174,690 | +72.5% |
| Other amounts receivable | 41 | €2,360 | €4,997 | +€2,638 | +111.8% |
| Cash at bank and in hand | 54/58 | €859,790 | €1,049,995 | +€190,205 | +22.1% |
| Deferred charges and accrued income | 490/1 | €17,577 | €13,773 | -€3,804 | -21.6% |
| Total equity and liabilities | 10/49 | €5,713,161 | €6,757,816 | +€1.0m | +18.3% |
| Equity | 10/15 | €5,079,706 | €5,787,622 | +€707,917 | +13.9% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €5,060,956 | €5,768,872 | +€707,917 | +14.0% |
| Tax-exempt reserves | 132 | €421,000 | €757,800 | +€336,800 | +80.0% |
| Distributable reserves | 133 | €4,639,956 | €5,011,072 | +€371,117 | +8.0% |
| Amounts payable | 17/49 | €633,455 | €970,194 | +€336,739 | +53.2% |
| Amounts payable within one year | 42/48 | €626,560 | €970,194 | +€343,634 | +54.8% |
| Trade debts | 44 | €508,062 | €800,563 | +€292,501 | +57.6% |
| Suppliers | 440/4 | €508,062 | €800,563 | +€292,501 | +57.6% |
| Taxes, remuneration and social security | 45 | €118,498 | €69,631 | -€48,867 | -41.2% |
| Taxes | 450/3 | €97,879 | €40,987 | -€56,892 | -58.1% |
| Remuneration and social security | 454/9 | €20,620 | €28,644 | +€8,025 | +38.9% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €6,895 | - | -€6,895 | |
| Remuneration, social security and pensions | 62 | €423,124 | €298,001 | -€125,123 | -29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,222 | €20,879 | -€10,343 | -33.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €156,577 | €186,885 | +€30,308 | +19.4% |
| Other operating charges | 640/8 | €5,727 | €12,951 | +€7,223 | +126.1% |
| Gross operating margin | 9900 | €2,526,562 | €1,477,636 | -€1.0m | -41.5% |
| Operating profit (loss) | 9901 | €1,909,912 | €958,921 | -€950,992 | -49.8% |
| Financial income | 75/76B | €17,788 | €35,024 | +€17,236 | +96.9% |
| Recurring financial income | 75 | €17,788 | €35,024 | +€17,236 | +96.9% |
| Financial charges | 65/66B | €2,209 | €1,889 | -€320 | -14.5% |
| Recurring financial charges | 65 | €2,209 | €1,889 | -€320 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €1,925,491 | €992,056 | -€933,435 | -48.5% |
| Income taxes | 67/77 | €478,763 | €284,139 | -€194,624 | -40.7% |
| Profit (loss) for the period | 9904 | €1,446,728 | €707,917 | -€738,811 | -51.1% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €336,800 | -€84,200 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,025,728 | €371,117 | -€654,611 | -63.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.