Code Bakery: 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.
Code Bakery
Largest movements
- Cash -€16,662
down €16,662 (-23.3%), from €71,413 to €54,751
mainly Contributions, distributions and other (-€99,500) and Tax, wage and social debts (-€12,004)
- Tangible fixed assets -€8,714
down €8,714 (-27.1%), from €32,185 to €23,471
- Receivables within one year +€3,615
up €3,615 (+30.5%), from €11,857 to €15,472
of which Trade receivables: +€2,748
- Profit (loss) carried forward -€57,356
down €57,356 (-89.1%), from €64,391 to €7,035
- Other debts +€55,248
up €55,248 (+104183.1%), from €53 to €55,301
- Tax, wage and social debts -€12,004
down €12,004 (-71.2%), from €16,871 to €4,866
- Debts after one year -€7,995
down €7,995 (-32.5%), from €24,619 to €16,624
- Gross operating margin +€9,998
up €9,998 (+18.7%), from €53,346 to €63,344
- Taxes +€2,133
up €2,133 (+23.9%), from €8,939 to €11,072
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 | €117,291 | €95,549 | -€21,743 | -18.5% |
| Fixed assets | 21/28 | €32,185 | €23,471 | -€8,714 | -27.1% |
| Tangible fixed assets | 22/27 | €32,185 | €23,471 | -€8,714 | -27.1% |
| Furniture and vehicles | 24 | €32,185 | €23,471 | -€8,714 | -27.1% |
| Current assets | 29/58 | €85,106 | €72,077 | -€13,029 | -15.3% |
| Amounts receivable within one year | 40/41 | €11,857 | €15,472 | +€3,615 | +30.5% |
| Trade receivables | 40 | €8,795 | €11,543 | +€2,748 | +31.2% |
| Other amounts receivable | 41 | €3,061 | €3,928 | +€867 | +28.3% |
| Cash at bank and in hand | 54/58 | €71,413 | €54,751 | -€16,662 | -23.3% |
| Deferred charges and accrued income | 490/1 | €1,837 | €1,854 | +€18 | +1.0% |
| Total equity and liabilities | 10/49 | €117,291 | €95,549 | -€21,743 | -18.5% |
| Equity | 10/15 | €67,391 | €10,035 | -€57,356 | -85.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,391 | €7,035 | -€57,356 | -89.1% |
| Amounts payable | 17/49 | €49,900 | €85,513 | +€35,613 | +71.4% |
| Amounts payable after more than one year | 17 | €24,619 | €16,624 | -€7,995 | -32.5% |
| Financial debts | 170/4 | €24,619 | €16,624 | -€7,995 | -32.5% |
| Amounts payable within one year | 42/48 | €24,714 | €68,458 | +€43,744 | +177.0% |
| Current portion of amounts payable after more than one year | 42 | €7,790 | €7,995 | +€204 | +2.6% |
| Trade debts | 44 | - | €296 | +€296 | |
| Suppliers | 440/4 | - | €296 | +€296 | |
| Taxes, remuneration and social security | 45 | €16,871 | €4,866 | -€12,004 | -71.2% |
| Taxes | 450/3 | €16,871 | €4,866 | -€12,004 | -71.2% |
| Other amounts payable | 47/48 | €53 | €55,301 | +€55,248 | +104183.1% |
| Accrued charges and deferred income | 492/3 | €567 | €431 | -€136 | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,088 | €8,714 | -€374 | -4.1% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €53,346 | €63,344 | +€9,998 | +18.7% |
| Operating profit (loss) | 9901 | €44,258 | €54,231 | +€9,973 | +22.5% |
| Financial charges | 65/66B | €1,042 | €1,015 | -€27 | -2.5% |
| Recurring financial charges | 65 | €1,042 | €1,015 | -€27 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €43,217 | €53,216 | +€9,999 | +23.1% |
| Income taxes | 67/77 | €8,939 | €11,072 | +€2,133 | +23.9% |
| Profit (loss) for the period | 9904 | €34,278 | €42,144 | +€7,866 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,278 | €42,144 | +€7,866 | +22.9% |
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 1 October 2026 via checked.be.