CODE-ON: what changed
What changed
CODE-ON
NACE 63.100, Computing infrastructure, data processing, hosting and related activities
filed annual accounts (NBB)
Net result for the year
€13,661
2024 · €24,905-€11,244
Equity
€345,834
2024 · €367,173-€21,339
Cash
€36,426
2024 · €48,437-€12,012
Balance sheet total
€449,210
2024 · €475,223-€26,013
Largest movements
Assets
- Cash -€12,012
down €12,012 (-24.8%), from €48,437 to €36,426
mainly Contributions, distributions and other (-€35,000) and Trade debts (-€6,769)
- Tangible fixed assets -€11,785
down €11,785 (-5.5%), from €215,671 to €203,887
of which Furniture and vehicles: -€6,378
Equity and liabilities
- Reserves -€21,339
down €21,339 (-6.1%), from €348,573 to €327,234
- Tax, wage and social debts +€7,331
up €7,331 (+45.2%), from €16,236 to €23,568
of which Remuneration and social security: +€11,866
- Trade debts -€6,769
down €6,769 (-17.3%), from €39,203 to €32,434
- Debts after one year -€5,375
down €5,375 (-11.5%), from €46,564 to €41,189
Income statement
- Staff costs +€34,367
up €34,367 (+90.7%), from €37,884 to €72,251
- Gross operating margin +€22,336
up €22,336 (+25.5%), from €87,701 to €110,036
- Taxes -€4,110
down €4,110 (-42.1%), from €9,771 to €5,661
- Depreciation +€3,726
up €3,726 (+27.7%), from €13,462 to €17,187
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€24,905
Gross operating margin
+€22,336
Staff costs
-€34,367
Depreciation
-€3,726
Other operating charges
+€98
Financial income
-€129
Financial charges
+€434
Taxes
+€4,110
Result 2025
€13,661
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€31,528
Investment
-€3,391
Financing
-€40,149
Cash 2024
€48,437
From operations (derived)
+€31,528
Net result for the year
+€13,661
Depreciation
+€17,187
Receivables within one year
-€199
Deferred charges and accrued income
+€404
Trade debts
-€6,769
Tax, wage and social debts
+€7,331
Other debts
-€88
Investment (derived)
-€3,391
Investment in fixed assets (net)
-€5,402
Current investments
+€2,011
Financing
-€40,149
Debts after one year
-€5,375
Current portion of long-term debt
+€226
Contributions, distributions and other
-€35,000
Cash 2025
€36,426
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €475,223 | €449,210 | -€26,013 | -5.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €215,791 | €204,007 | -€11,785 | -5.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €215,671 | €203,887 | -€11,785 | -5.5% |
| Land and buildings | 22 | €175,177 | €169,642 | -€5,534 | -3.2% |
| Plant, machinery and equipment | 23 | €808 | €935 | +€127 | +15.7% |
| Furniture and vehicles | 24 | €39,686 | €33,309 | -€6,378 | -16.1% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €259,432 | €245,204 | -€14,228 | -5.5% |
| Amounts receivable within one year | 40/41 | €56,557 | €56,756 | +€199 | +0.4% |
| Trade receivables | 40 | €50,613 | €46,794 | -€3,819 | -7.5% |
| Other amounts receivable | 41 | €5,945 | €9,962 | +€4,018 | +67.6% |
| Current investments | 50/53 | €150,803 | €148,791 | -€2,011 | -1.3% |
| Cash at bank and in hand | 54/58 | €48,437 | €36,426 | -€12,012 | -24.8% |
| Deferred charges and accrued income | 490/1 | €3,635 | €3,230 | -€404 | -11.1% |
| Total equity and liabilities | 10/49 | €475,223 | €449,210 | -€26,013 | -5.5% |
| Equity | 10/15 | €367,173 | €345,834 | -€21,339 | -5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €348,573 | €327,234 | -€21,339 | -6.1% |
| Distributable reserves | 133 | €348,573 | €327,234 | -€21,339 | -6.1% |
| Amounts payable | 17/49 | €108,050 | €103,376 | -€4,674 | -4.3% |
| Amounts payable after more than one year | 17 | €46,564 | €41,189 | -€5,375 | -11.5% |
| Financial debts | 170/4 | €46,564 | €41,189 | -€5,375 | -11.5% |
| Amounts payable within one year | 42/48 | €61,486 | €62,187 | +€701 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €5,149 | €5,375 | +€226 | +4.4% |
| Trade debts | 44 | €39,203 | €32,434 | -€6,769 | -17.3% |
| Suppliers | 440/4 | €39,203 | €32,434 | -€6,769 | -17.3% |
| Taxes, remuneration and social security | 45 | €16,236 | €23,568 | +€7,331 | +45.2% |
| Taxes | 450/3 | €8,640 | €4,105 | -€4,535 | -52.5% |
| Remuneration and social security | 454/9 | €7,597 | €19,463 | +€11,866 | +156% |
| Other amounts payable | 47/48 | €898 | €810 | -€88 | -9.8% |
| Non-recurring operating income | 76A | €5,071 | - | -€5,071 | |
| Remuneration, social security and pensions | 62 | €37,884 | €72,251 | +€34,367 | +90.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,462 | €17,187 | +€3,726 | +27.7% |
| Other operating charges | 640/8 | €1,380 | €1,282 | -€98 | -7.1% |
| Gross operating margin | 9900 | €87,701 | €110,036 | +€22,336 | +25.5% |
| Operating profit (loss) | 9901 | €34,975 | €19,316 | -€15,659 | -44.8% |
| Financial income | 75/76B | €2,388 | €2,259 | -€129 | -5.4% |
| Recurring financial income | 75 | €2,388 | €2,259 | -€129 | -5.4% |
| Financial charges | 65/66B | €2,688 | €2,253 | -€434 | -16.2% |
| Recurring financial charges | 65 | €2,688 | €2,253 | -€434 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €34,675 | €19,322 | -€15,354 | -44.3% |
| Income taxes | 67/77 | €9,771 | €5,661 | -€4,110 | -42.1% |
| Profit (loss) for the period | 9904 | €24,905 | €13,661 | -€11,244 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,905 | €13,661 | -€11,244 | -45.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.