Co-Branding: 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.
Co-Branding
Largest movements
- Cash +€16,570
up €16,570 (+37.3%), from €44,472 to €61,042
mainly Net result for the year (+€13,667) and Depreciation (+€6,413)
- Tangible fixed assets -€6,110
down €6,110 (-81.7%), from €7,477 to €1,367
of which Furniture and vehicles: -€5,520
- Receivables within one year -€1,153
down €1,153 (-25.9%), from €4,454 to €3,301
of which Trade receivables: -€1,624
- Reserves +€13,667
up €13,667 (+69.3%), from €19,722 to €33,389
- Tax, wage and social debts -€3,015
down €3,015 (-60.3%), from €4,997 to €1,982
- Other debts -€2,413
down €2,413 (-16.7%), from €14,414 to €12,001
- Trade debts +€1,107
up €1,107 (+265%), from €418 to €1,525
- Gross operating margin -€4,850
down €4,850 (-14.7%), from €33,103 to €28,253
- Taxes -€1,035
down €1,035 (-14.5%), from €7,139 to €6,105
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,954 | €67,542 | +€9,588 | +16.5% |
| Fixed assets | 21/28 | €7,477 | €1,367 | -€6,110 | -81.7% |
| Tangible fixed assets | 22/27 | €7,477 | €1,367 | -€6,110 | -81.7% |
| Plant, machinery and equipment | 23 | €1,957 | €1,367 | -€590 | -30.1% |
| Furniture and vehicles | 24 | €5,520 | €0 | -€5,520 | -100% |
| Current assets | 29/58 | €50,477 | €66,175 | +€15,698 | +31.1% |
| Amounts receivable within one year | 40/41 | €4,454 | €3,301 | -€1,153 | -25.9% |
| Trade receivables | 40 | €4,019 | €2,396 | -€1,624 | -40.4% |
| Other amounts receivable | 41 | €435 | €905 | +€471 | +108% |
| Cash at bank and in hand | 54/58 | €44,472 | €61,042 | +€16,570 | +37.3% |
| Deferred charges and accrued income | 490/1 | €1,551 | €1,832 | +€281 | +18.1% |
| Total equity and liabilities | 10/49 | €57,954 | €67,542 | +€9,588 | +16.5% |
| Equity | 10/15 | €37,222 | €50,889 | +€13,667 | +36.7% |
| Contributions | 10/11 | €17,500 | €17,500 | = | 0.0% |
| Reserves | 13 | €19,722 | €33,389 | +€13,667 | +69.3% |
| Distributable reserves | 133 | €19,722 | €33,389 | +€13,667 | +69.3% |
| Amounts payable | 17/49 | €20,732 | €16,653 | -€4,079 | -19.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €19,829 | €15,508 | -€4,321 | -21.8% |
| Trade debts | 44 | €418 | €1,525 | +€1,107 | +265% |
| Suppliers | 440/4 | €418 | €1,525 | +€1,107 | +265% |
| Taxes, remuneration and social security | 45 | €4,997 | €1,982 | -€3,015 | -60.3% |
| Taxes | 450/3 | €4,997 | €1,982 | -€3,015 | -60.3% |
| Other amounts payable | 47/48 | €14,414 | €12,001 | -€2,413 | -16.7% |
| Accrued charges and deferred income | 492/3 | €903 | €1,145 | +€242 | +26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,686 | €6,413 | -€273 | -4.1% |
| Other operating charges | 640/8 | €1,205 | €884 | -€321 | -26.7% |
| Gross operating margin | 9900 | €33,103 | €28,253 | -€4,850 | -14.7% |
| Operating profit (loss) | 9901 | €25,213 | €20,956 | -€4,257 | -16.9% |
| Financial charges | 65/66B | €938 | €1,184 | +€246 | +26.2% |
| Recurring financial charges | 65 | €938 | €1,184 | +€246 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €24,275 | €19,772 | -€4,503 | -18.5% |
| Income taxes | 67/77 | €7,139 | €6,105 | -€1,035 | -14.5% |
| Profit (loss) for the period | 9904 | €17,135 | €13,667 | -€3,468 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,135 | €13,667 | -€3,468 | -20.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.