CNUDDE GROUP: what changed
Two financial 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.
What changed
CNUDDE GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.6m-€245,443
Equity
€6.0m
2024 · €4.7m+€1.3m
Cash
€5.0m
2024 · €3.7m+€1.3m
Balance sheet total
€6.1m
2024 · €4.7m+€1.3m
Largest movements
Assets
- Cash +€1.3m
up €1.3m (+35.3%), from €3.7m to €5.0m
mainly Net result for the year (+€1.4m) and Depreciation (+€49,823)
Equity and liabilities
- Reserves +€1.3m
up €1.3m (+28.5%), from €4.7m to €6.0m
of which Distributable reserves: +€1.3m
Income statement
- Financial income -€277,123
down €277,123 (-18.5%), from €1.5m to €1.2m
- Services and other goods -€47,794
down €47,794 (-14.1%), from €338,343 to €290,549
- Taxes +€16,815
up €16,815 (+32.0%), from €52,487 to €69,302
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.
Result 2024
€1.6m
Turnover
+€5,964
Other operating income
-€1,504
Services and other goods
+€47,794
Depreciation
+€0
Other operating charges
-€1,983
Financial income
-€277,123
Financial charges
-€1,776
Taxes
-€16,815
Result 2025
€1.4m
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€1.5m
Investment
-€90,000
Financing
-€64,482
Cash 2024
€3.7m
From operations (derived)
+€1.5m
Net result for the year
+€1.4m
Depreciation
+€49,823
Receivables within one year
+€12,513
Trade debts
-€6,559
Tax, wage and social debts
+€17,022
Smaller working-capital items
+€1,307
Investment (derived)
-€90,000
Investment in fixed assets (net)
-€90,000
Financing
-€64,482
Contributions, distributions and other
-€64,482
Cash 2025
€5.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,746,147 | €6,087,524 | +€1.3m | +28.3% |
| Fixed assets | 21/28 | €989,011 | €1,029,187 | +€40,177 | +4.1% |
| Tangible fixed assets | 22/27 | €516,823 | €556,999 | +€40,177 | +7.8% |
| Land and buildings | 22 | €497,645 | €556,999 | +€59,354 | +11.9% |
| Furniture and vehicles | 24 | €19,178 | €0 | -€19,178 | -100% |
| Financial fixed assets | 28 | €472,188 | €472,188 | = | 0.0% |
| Affiliated companies | 280/1 | €472,188 | €472,188 | = | 0.0% |
| Participating interests | 280 | €472,188 | €472,188 | = | 0.0% |
| Current assets | 29/58 | €3,757,136 | €5,058,336 | +€1.3m | +34.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €30,513 | €18,000 | -€12,513 | -41.0% |
| Trade receivables | 40 | €18,000 | €18,000 | = | 0.0% |
| Other amounts receivable | 41 | €12,513 | €0 | -€12,513 | -100% |
| Cash at bank and in hand | 54/58 | €3,726,623 | €5,040,336 | +€1.3m | +35.3% |
| Total equity and liabilities | 10/49 | €4,746,147 | €6,087,524 | +€1.3m | +28.3% |
| Equity | 10/15 | €4,719,638 | €6,049,245 | +€1.3m | +28.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,657,638 | €5,987,245 | +€1.3m | +28.5% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €4,638,888 | €5,968,495 | +€1.3m | +28.7% |
| Amounts payable | 17/49 | €26,509 | €38,279 | +€11,770 | +44.4% |
| Amounts payable within one year | 42/48 | €14,569 | €25,177 | +€10,608 | +72.8% |
| Trade debts | 44 | €8,699 | €2,140 | -€6,559 | -75.4% |
| Suppliers | 440/4 | €8,699 | €2,140 | -€6,559 | -75.4% |
| Taxes, remuneration and social security | 45 | €0 | €17,022 | +€17,022 | |
| Taxes | 450/3 | €0 | €17,022 | +€17,022 | |
| Other amounts payable | 47/48 | €5,871 | €6,015 | +€144 | +2.5% |
| Accrued charges and deferred income | 492/3 | €11,940 | €13,102 | +€1,162 | +9.7% |
| Operating income | 70/76A | €607,034 | €611,494 | +€4,460 | +0.7% |
| Turnover | 70 | €605,255 | €611,219 | +€5,964 | +1.0% |
| Other operating income | 74 | €1,778 | €275 | -€1,504 | -84.6% |
| Operating charges | 60/66A | €413,056 | €367,245 | -€45,811 | -11.1% |
| Services and other goods | 61 | €338,343 | €290,549 | -€47,794 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,823 | €49,823 | -€0 | 0.0% |
| Other operating charges | 640/8 | €24,890 | €26,872 | +€1,983 | +8.0% |
| Operating profit (loss) | 9901 | €193,978 | €244,249 | +€50,271 | +25.9% |
| Financial income | 75/76B | €1,500,000 | €1,222,877 | -€277,123 | -18.5% |
| Recurring financial income | 75 | €1,500,000 | €1,222,877 | -€277,123 | -18.5% |
| Income from financial fixed assets | 750 | €1,500,000 | €1,200,000 | -€300,000 | -20.0% |
| Other financial income | 752/9 | - | €22,877 | +€22,877 | |
| Financial charges | 65/66B | €1,959 | €3,735 | +€1,776 | +90.7% |
| Recurring financial charges | 65 | €1,959 | €3,735 | +€1,776 | +90.7% |
| Debt charges | 650 | €1,580 | €3,237 | +€1,657 | +105% |
| Other financial charges | 652/9 | €379 | €498 | +€119 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €1,692,019 | €1,463,391 | -€228,628 | -13.5% |
| Income taxes | 67/77 | €52,487 | €69,302 | +€16,815 | +32.0% |
| Taxes | 670/3 | €52,487 | €69,302 | +€16,815 | +32.0% |
| Profit (loss) for the period | 9904 | €1,639,532 | €1,394,089 | -€245,443 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,639,532 | €1,394,089 | -€245,443 | -15.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.