Codas: 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.
Codas
Largest movements
- Cash +€141,419
up €141,419 (+40.1%), from €352,901 to €494,321
mainly Net result for the year (+€156,786) and Receivables within one year (+€116,128)
- Receivables within one year -€116,128
down €116,128 (-31.9%), from €364,294 to €248,166
of which Trade receivables: -€141,244
- Receivables after one year -€59,500
down €59,500 (-36.6%), from €162,750 to €103,250
- Tangible fixed assets +€15,938
up €15,938 (+5.2%), from €308,186 to €324,124
of which Furniture and vehicles: +€39,134
- Tax, wage and social debts -€27,370
down €27,370 (-27.7%), from €98,698 to €71,328
of which Taxes: -€27,530
- Reserves +€20,869
up €20,869 (+2.0%), from €1.1m to €1.1m
- Gross operating margin -€98,414
down €98,414 (-27.9%), from €352,703 to €254,290
- Taxes -€32,049
down €32,049 (-32.2%), from €99,631 to €67,582
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 | €1,191,714 | €1,173,469 | -€18,245 | -1.5% |
| Fixed assets | 21/28 | €308,186 | €324,124 | +€15,938 | +5.2% |
| Tangible fixed assets | 22/27 | €308,186 | €324,124 | +€15,938 | +5.2% |
| Land and buildings | 22 | €302,427 | €278,971 | -€23,456 | -7.8% |
| Plant, machinery and equipment | 23 | €5,033 | €5,294 | +€261 | +5.2% |
| Furniture and vehicles | 24 | €725 | €39,859 | +€39,134 | +5397.5% |
| Current assets | 29/58 | €883,529 | €849,345 | -€34,184 | -3.9% |
| Amounts receivable after more than one year | 29 | €162,750 | €103,250 | -€59,500 | -36.6% |
| Other amounts receivable | 291 | €162,750 | €103,250 | -€59,500 | -36.6% |
| Amounts receivable within one year | 40/41 | €364,294 | €248,166 | -€116,128 | -31.9% |
| Trade receivables | 40 | €364,294 | €223,050 | -€141,244 | -38.8% |
| Other amounts receivable | 41 | €0 | €25,117 | +€25,116 | +11416495.5% |
| Cash at bank and in hand | 54/58 | €352,901 | €494,321 | +€141,419 | +40.1% |
| Deferred charges and accrued income | 490/1 | €3,583 | €3,608 | +€25 | +0.7% |
| Total equity and liabilities | 10/49 | €1,191,714 | €1,173,469 | -€18,245 | -1.5% |
| Equity | 10/15 | €1,059,808 | €1,080,763 | +€20,955 | +2.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,053,538 | €1,074,407 | +€20,869 | +2.0% |
| Distributable reserves | 133 | €1,053,538 | €1,074,407 | +€20,869 | +2.0% |
| Profit (loss) carried forward | 14 | €70 | €156 | +€86 | +123.8% |
| Amounts payable | 17/49 | €131,906 | €92,705 | -€39,201 | -29.7% |
| Amounts payable after more than one year | 17 | €4,439 | - | -€4,439 | |
| Financial debts | 170/4 | €4,439 | - | -€4,439 | |
| Amounts payable within one year | 42/48 | €127,467 | €92,705 | -€34,762 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €10,555 | €4,440 | -€6,115 | -57.9% |
| Trade debts | 44 | €8,415 | €7,319 | -€1,096 | -13.0% |
| Suppliers | 440/4 | €8,415 | €7,319 | -€1,096 | -13.0% |
| Taxes, remuneration and social security | 45 | €98,698 | €71,328 | -€27,370 | -27.7% |
| Taxes | 450/3 | €98,698 | €71,168 | -€27,530 | -27.9% |
| Remuneration and social security | 454/9 | - | €160 | +€160 | |
| Other amounts payable | 47/48 | €9,799 | €9,618 | -€181 | -1.8% |
| Remuneration, social security and pensions | 62 | €4,050 | €2,381 | -€1,669 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,869 | €28,842 | +€1,973 | +7.3% |
| Other operating charges | 640/8 | €3,861 | €3,855 | -€6 | -0.1% |
| Gross operating margin | 9900 | €352,703 | €254,290 | -€98,414 | -27.9% |
| Operating profit (loss) | 9901 | €317,923 | €219,211 | -€98,713 | -31.0% |
| Financial income | 75/76B | €4,074 | €5,380 | +€1,306 | +32.1% |
| Recurring financial income | 75 | €4,074 | €5,380 | +€1,306 | +32.1% |
| Financial charges | 65/66B | €344 | €223 | -€121 | -35.2% |
| Recurring financial charges | 65 | €344 | €223 | -€121 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €321,653 | €224,368 | -€97,285 | -30.2% |
| Income taxes | 67/77 | €99,631 | €67,582 | -€32,049 | -32.2% |
| Profit (loss) for the period | 9904 | €222,023 | €156,786 | -€65,236 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €222,023 | €156,786 | -€65,236 | -29.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.