CODAGEX: 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.
What changed
CODAGEX
NACE 46.495, Wholesale trade
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€120,353
2023 · €104,881+€15,472
Equity
€2.7m
2023 · €2.7m+€20,353
Cash
€1.1m
2023 · €555,748+€502,900
Balance sheet total
€5.3m
2023 · €5.5m-€262,292
Largest movements
Assets
- Stocks and contracts -€1.0m
down €1.0m (-26.0%), from €4.0m to €3.0m
- Cash +€502,900
up €502,900 (+90.5%), from €555,748 to €1.1m
mainly Stocks and contracts (+€1.0m) and Net result for the year (+€120,353)
- Financial fixed assets +€343,614
up €343,614 (+119.1%), from €288,588 to €632,202
of which Affiliated companies: +€356,673
Equity and liabilities
- Trade debts -€249,488
down €249,488 (-48.3%), from €517,062 to €267,574
- Debts after one year -€152,889
down €152,889 (-39.0%), from €391,714 to €238,825
- Other debts +€109,288
up €109,288 (+93.1%), from €117,394 to €226,682
Income statement
- Provisions +€228,553
no longer reported in 2024 (was -€228,553)
- Turnover +€219,770
up €219,770 (+1.5%), from €15.0m to €15.2m
- Write-downs +€197,820
up €197,820, from -€161,514 to €36,306
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.
Result 2023
€104,881
Turnover
+€219,770
Other operating income
-€42,233
Goods and materials
-€10,964
Services and other goods
+€26,556
Staff costs
+€123,998
Depreciation
+€12,828
Write-downs
-€197,820
Provisions
-€228,553
Other operating charges
+€97,988
Other operating items
+€71,395
Financial income
-€12,171
Financial charges
-€26,646
Taxes
-€18,676
Result 2024
€120,353
Cash bridge derived
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.
From operations
+€1.0m
Investment
-€352,961
Financing
-€183,404
Cash 2023
€555,748
From operations (derived)
+€1.0m
Net result for the year
+€120,353
Depreciation
+€27,093
Stocks and contracts
+€1.0m
Receivables within one year
+€48,295
Deferred charges and accrued income
+€2,548
Trade debts
-€249,488
Tax, wage and social debts
-€53,569
Other debts
+€109,288
Accrued charges and deferred income
-€5,471
Investment (derived)
-€352,961
Investment in fixed assets (net)
-€352,961
Financing
-€183,404
Debts after one year
-€152,889
Current portion of long-term debt
+€17,393
Short-term financial debts
+€52,092
Contributions, distributions and other
-€100,000
Cash 2024
€1.1m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,517,889 | €5,255,597 | -€262,292 | -4.8% |
| Fixed assets | 21/28 | €371,505 | €697,373 | +€325,868 | +87.7% |
| Tangible fixed assets | 22/27 | €82,917 | €65,171 | -€17,746 | -21.4% |
| Plant, machinery and equipment | 23 | €2,449 | €20,856 | +€18,408 | +751.7% |
| Furniture and vehicles | 24 | €80,468 | €44,315 | -€36,154 | -44.9% |
| Financial fixed assets | 28 | €288,588 | €632,202 | +€343,614 | +119.1% |
| Affiliated companies | 280/1 | €275,529 | €632,202 | +€356,673 | +129.5% |
| Participating interests | 280 | €275,529 | €275,529 | = | 0.0% |
| Amounts receivable | 281 | - | €356,673 | +€356,673 | |
| Other financial fixed assets | 284/8 | €13,059 | - | -€13,059 | |
| Amounts receivable and cash guarantees | 285/8 | €13,059 | - | -€13,059 | |
| Current assets | 29/58 | €5,146,384 | €4,558,224 | -€588,160 | -11.4% |
| Stocks and contracts in progress | 3 | €3,993,321 | €2,953,105 | -€1.0m | -26.0% |
| Stocks | 30/36 | €3,993,321 | €2,953,105 | -€1.0m | -26.0% |
| Goods purchased for resale | 34 | €3,993,321 | €2,953,105 | -€1.0m | -26.0% |
| Amounts receivable within one year | 40/41 | €591,114 | €542,819 | -€48,295 | -8.2% |
| Trade receivables | 40 | €483,986 | €366,076 | -€117,910 | -24.4% |
| Other amounts receivable | 41 | €107,128 | €176,743 | +€69,615 | +65.0% |
| Cash at bank and in hand | 54/58 | €555,748 | €1,058,648 | +€502,900 | +90.5% |
| Deferred charges and accrued income | 490/1 | €6,201 | €3,652 | -€2,548 | -41.1% |
| Total equity and liabilities | 10/49 | €5,517,889 | €5,255,597 | -€262,292 | -4.8% |
| Equity | 10/15 | €2,677,328 | €2,697,681 | +€20,353 | +0.8% |
| Contributions | 10/11 | €2,253,376 | €2,253,376 | = | 0.0% |
| Capital | 10 | €2,253,376 | €2,253,376 | = | 0.0% |
| Issued capital | 100 | €2,253,376 | €2,253,376 | = | 0.0% |
| Reserves | 13 | €243,596 | €243,596 | = | 0.0% |
| Non-distributable reserves | 130/1 | €225,338 | €225,338 | = | 0.0% |
| Legal reserve | 130 | €225,338 | €225,338 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,259 | €18,259 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,357 | €200,709 | +€20,353 | +11.3% |
| Amounts payable | 17/49 | €2,840,560 | €2,557,916 | -€282,645 | -10.0% |
| Amounts payable after more than one year | 17 | €391,714 | €238,825 | -€152,889 | -39.0% |
| Financial debts | 170/4 | €391,714 | €238,825 | -€152,889 | -39.0% |
| Credit institutions | 173 | €391,714 | €238,825 | -€152,889 | -39.0% |
| Amounts payable within one year | 42/48 | €2,443,375 | €2,319,090 | -€124,285 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €148,015 | €165,407 | +€17,393 | +11.8% |
| Financial debts | 43 | €1,500,000 | €1,552,092 | +€52,092 | +3.5% |
| Credit institutions | 430/8 | €1,500,000 | €1,552,092 | +€52,092 | +3.5% |
| Trade debts | 44 | €517,062 | €267,574 | -€249,488 | -48.3% |
| Suppliers | 440/4 | €517,062 | €267,574 | -€249,488 | -48.3% |
| Taxes, remuneration and social security | 45 | €160,905 | €107,336 | -€53,569 | -33.3% |
| Taxes | 450/3 | €67,896 | €24,454 | -€43,442 | -64.0% |
| Remuneration and social security | 454/9 | €93,009 | €82,881 | -€10,128 | -10.9% |
| Other amounts payable | 47/48 | €117,394 | €226,682 | +€109,288 | +93.1% |
| Accrued charges and deferred income | 492/3 | €5,471 | - | -€5,471 | |
| Operating income | 70/76A | €15,023,942 | €15,201,478 | +€177,536 | +1.2% |
| Turnover | 70 | €14,971,446 | €15,191,215 | +€219,770 | +1.5% |
| Other operating income | 74 | €52,496 | €10,263 | -€42,233 | -80.5% |
| Operating charges | 60/66A | €14,748,792 | €14,853,363 | +€104,572 | +0.7% |
| Goods for resale, raw materials and consumables | 60 | €11,894,691 | €11,905,655 | +€10,964 | +0.1% |
| Purchases | 600/8 | €11,874,041 | €10,902,169 | -€971,872 | -8.2% |
| Change in stocks: decrease (increase) | 609 | €20,649 | €1,003,485 | +€982,836 | +4759.6% |
| Services and other goods | 61 | €2,093,219 | €2,066,664 | -€26,556 | -1.3% |
| Remuneration, social security and pensions | 62 | €882,969 | €758,970 | -€123,998 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,921 | €27,093 | -€12,828 | -32.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€161,514 | €36,306 | +€197,820 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€228,553 | - | +€228,553 | |
| Other operating charges | 640/8 | €154,637 | €56,649 | -€97,988 | -63.4% |
| Non-recurring operating charges | 66A | €73,422 | €2,026 | -€71,395 | -97.2% |
| Operating profit (loss) | 9901 | €275,150 | €348,115 | +€72,965 | +26.5% |
| Financial income | 75/76B | €81,522 | €69,351 | -€12,171 | -14.9% |
| Recurring financial income | 75 | €81,522 | €69,351 | -€12,171 | -14.9% |
| Income from financial fixed assets | 750 | - | €6,673 | +€6,673 | |
| Income from current assets | 751 | €757 | €2,979 | +€2,222 | +293.5% |
| Other financial income | 752/9 | €80,765 | €59,699 | -€21,066 | -26.1% |
| Financial charges | 65/66B | €206,645 | €233,291 | +€26,646 | +12.9% |
| Recurring financial charges | 65 | €206,645 | €233,291 | +€26,646 | +12.9% |
| Debt charges | 650 | €66,980 | €104,176 | +€37,195 | +55.5% |
| Other financial charges | 652/9 | €139,665 | €129,115 | -€10,549 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €150,027 | €184,175 | +€34,148 | +22.8% |
| Income taxes | 67/77 | €45,146 | €63,823 | +€18,676 | +41.4% |
| Taxes | 670/3 | €45,593 | €63,823 | +€18,230 | +40.0% |
| Tax adjustments and reversals of tax provisions | 77 | €447 | - | -€447 | |
| Profit (loss) for the period | 9904 | €104,881 | €120,353 | +€15,472 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €104,881 | €120,353 | +€15,472 | +14.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.