CODACOM: 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.
CODACOM
Largest movements
- Tangible fixed assets -€37,108
down €37,108 (-17.0%), from €218,149 to €181,040
of which Plant, machinery and equipment: -€23,327
- Cash +€7,992
up €7,992 (+31.3%), from €25,536 to €33,528
mainly Depreciation (+€37,108) and Receivables within one year (+€5,754)
- Receivables within one year -€5,754
down €5,754 (-48.3%), from €11,918 to €6,164
of which Other amounts receivable: -€6,485
- Other debts -€22,172
down €22,172 (-16.3%), from €136,129 to €113,957
- Debts after one year -€7,532
no longer reported in 2025 (was €7,532)
- Current portion of long-term debt -€6,930
down €6,930 (-44.1%), from €15,700 to €8,770
- Gross operating margin +€5,453
up €5,453 (+15.1%), from €36,163 to €41,616
- Financial charges -€713
down €713 (-41.7%), from €1,712 to €999
- Taxes +€651
up €651 (+262.7%), from €248 to €899
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 | €257,806 | €223,019 | -€34,787 | -13.5% |
| Fixed assets | 21/28 | €218,476 | €181,368 | -€37,108 | -17.0% |
| Tangible fixed assets | 22/27 | €218,149 | €181,040 | -€37,108 | -17.0% |
| Land and buildings | 22 | €878 | - | -€878 | |
| Plant, machinery and equipment | 23 | €164,344 | €141,017 | -€23,327 | -14.2% |
| Furniture and vehicles | 24 | €52,927 | €40,023 | -€12,904 | -24.4% |
| Financial fixed assets | 28 | €328 | €328 | = | 0.0% |
| Current assets | 29/58 | €39,329 | €41,650 | +€2,321 | +5.9% |
| Amounts receivable within one year | 40/41 | €11,918 | €6,164 | -€5,754 | -48.3% |
| Trade receivables | 40 | €2,715 | €3,446 | +€732 | +27.0% |
| Other amounts receivable | 41 | €9,203 | €2,718 | -€6,485 | -70.5% |
| Cash at bank and in hand | 54/58 | €25,536 | €33,528 | +€7,992 | +31.3% |
| Deferred charges and accrued income | 490/1 | €1,876 | €1,958 | +€83 | +4.4% |
| Total equity and liabilities | 10/49 | €257,806 | €223,019 | -€34,787 | -13.5% |
| Equity | 10/15 | €97,672 | €99,571 | +€1,899 | +1.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €89,427 | €89,571 | +€144 | +0.2% |
| Distributable reserves | 133 | €89,427 | €89,571 | +€144 | +0.2% |
| Profit (loss) carried forward | 14 | -€1,755 | - | +€1,755 | |
| Amounts payable | 17/49 | €160,134 | €123,448 | -€36,686 | -22.9% |
| Amounts payable after more than one year | 17 | €7,532 | - | -€7,532 | |
| Financial debts | 170/4 | €7,532 | - | -€7,532 | |
| Amounts payable within one year | 42/48 | €152,503 | €123,411 | -€29,093 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €15,700 | €8,770 | -€6,930 | -44.1% |
| Trade debts | 44 | €675 | €684 | +€9 | +1.4% |
| Suppliers | 440/4 | €675 | €684 | +€9 | +1.4% |
| Other amounts payable | 47/48 | €136,129 | €113,957 | -€22,172 | -16.3% |
| Accrued charges and deferred income | 492/3 | €98 | €37 | -€61 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,108 | €37,108 | +€0 | 0.0% |
| Other operating charges | 640/8 | €710 | €711 | +€1 | +0.1% |
| Gross operating margin | 9900 | €36,163 | €41,616 | +€5,453 | +15.1% |
| Operating profit (loss) | 9901 | -€1,655 | €3,797 | +€5,452 | |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €1,712 | €999 | -€713 | -41.7% |
| Recurring financial charges | 65 | €1,712 | €999 | -€713 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,367 | €2,798 | +€6,165 | |
| Income taxes | 67/77 | €248 | €899 | +€651 | +262.7% |
| Profit (loss) for the period | 9904 | -€3,615 | €1,899 | +€5,514 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,615 | €1,899 | +€5,514 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.