Codana: 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.
Codana
Largest movements
- Receivables within one year +€3,001
new in 2025: €3,001
- Tangible fixed assets -€1,905
down €1,905 (-27.1%), from €7,024 to €5,119
- Stocks and contracts -€585
down €585 (-4.9%), from €11,943 to €11,358
- Cash -€576
down €576 (-24.9%), from €2,312 to €1,736
mainly Investment in fixed assets (net) (-€3,386) and Receivables within one year (-€3,001)
- Profit (loss) carried forward +€6,100
up €6,100 (+27.6%), from -€22,133 to -€16,033
- Current portion of long-term debt -€2,473
down €2,473 (-57.9%), from €4,271 to €1,798
- Debts after one year -€1,798
no longer reported in 2025 (was €1,798)
- Other debts -€1,264
down €1,264 (-14.9%), from €8,458 to €7,195
- Tax, wage and social debts -€868
down €868 (-13.6%), from €6,386 to €5,518
of which Remuneration and social security: -€1,396
- Depreciation +€657
up €657 (+14.2%), from €4,634 to €5,291
- Financial charges +€182
up €182 (+40.4%), from €449 to €631
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 | €21,654 | €21,599 | -€55 | -0.3% |
| Fixed assets | 21/28 | €7,024 | €5,119 | -€1,905 | -27.1% |
| Tangible fixed assets | 22/27 | €7,024 | €5,119 | -€1,905 | -27.1% |
| Furniture and vehicles | 24 | €7,024 | €5,119 | -€1,905 | -27.1% |
| Current assets | 29/58 | €14,630 | €16,480 | +€1,850 | +12.6% |
| Stocks and contracts in progress | 3 | €11,943 | €11,358 | -€585 | -4.9% |
| Stocks | 30/36 | €11,943 | €11,358 | -€585 | -4.9% |
| Amounts receivable within one year | 40/41 | - | €3,001 | +€3,001 | |
| Trade receivables | 40 | - | €3,001 | +€3,001 | |
| Cash at bank and in hand | 54/58 | €2,312 | €1,736 | -€576 | -24.9% |
| Deferred charges and accrued income | 490/1 | €375 | €385 | +€10 | +2.7% |
| Total equity and liabilities | 10/49 | €21,654 | €21,599 | -€55 | -0.3% |
| Equity | 10/15 | -€2,133 | €3,967 | +€6,100 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,133 | -€16,033 | +€6,100 | +27.6% |
| Amounts payable | 17/49 | €23,787 | €17,632 | -€6,155 | -25.9% |
| Amounts payable after more than one year | 17 | €1,798 | - | -€1,798 | |
| Financial debts | 170/4 | €1,798 | - | -€1,798 | |
| Amounts payable within one year | 42/48 | €20,489 | €16,132 | -€4,357 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €4,271 | €1,798 | -€2,473 | -57.9% |
| Trade debts | 44 | €1,373 | €1,621 | +€247 | +18.0% |
| Suppliers | 440/4 | €1,373 | €1,621 | +€247 | +18.0% |
| Taxes, remuneration and social security | 45 | €6,386 | €5,518 | -€868 | -13.6% |
| Taxes | 450/3 | €3,371 | €3,900 | +€529 | +15.7% |
| Remuneration and social security | 454/9 | €3,014 | €1,618 | -€1,396 | -46.3% |
| Other amounts payable | 47/48 | €8,458 | €7,195 | -€1,264 | -14.9% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,634 | €5,291 | +€657 | +14.2% |
| Other operating charges | 640/8 | €746 | €840 | +€94 | +12.6% |
| Gross operating margin | 9900 | €12,989 | €13,037 | +€48 | +0.4% |
| Operating profit (loss) | 9901 | €7,609 | €6,906 | -€703 | -9.2% |
| Financial charges | 65/66B | €449 | €631 | +€182 | +40.4% |
| Recurring financial charges | 65 | €449 | €631 | +€182 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €7,160 | €6,275 | -€885 | -12.4% |
| Income taxes | 67/77 | €183 | €175 | -€8 | -4.4% |
| Profit (loss) for the period | 9904 | €6,977 | €6,100 | -€877 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,977 | €6,100 | -€877 | -12.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.