CODEBAR: 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.
CODEBAR
Largest movements
- Tangible fixed assets +€47,298
up €47,298 (+41.8%), from €113,202 to €160,500
of which Land and buildings: +€32,355
- Cash -€11,072
down €11,072 (-42.8%), from €25,845 to €14,773
mainly Investment in fixed assets (net) (-€68,180) and Contributions, distributions and other (-€32,180)
- Receivables within one year -€8,170
down €8,170 (-27.0%), from €30,245 to €22,075
of which Trade receivables: -€16,099
- Trade debts +€32,926
up €32,926 (+141.1%), from €23,341 to €56,267
- Other debts -€8,938
down €8,938 (-17.9%), from €50,000 to €41,062
- Tax, wage and social debts +€8,435
up €8,435 (+42.5%), from €19,849 to €28,284
of which Remuneration and social security: +€7,658
- Reserves -€3,344
down €3,344 (-5.0%), from €67,485 to €64,141
- Gross operating margin +€51,526
up €51,526 (+33.1%), from €155,738 to €207,264
- Staff costs +€17,845
up €17,845 (+14.3%), from €124,379 to €142,224
- Taxes +€12,216
up €12,216 (+1662.3%), from €735 to €12,951
- Depreciation +€10,711
up €10,711 (+105.3%), from €10,172 to €20,883
- Financial charges -€6,093
down €6,093 (-77.4%), from €7,869 to €1,776
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,680 | €204,806 | +€30,126 | +17.2% |
| Fixed assets | 21/28 | €113,452 | €160,750 | +€47,298 | +41.7% |
| Tangible fixed assets | 22/27 | €113,202 | €160,500 | +€47,298 | +41.8% |
| Land and buildings | 22 | €90,178 | €122,533 | +€32,355 | +35.9% |
| Plant, machinery and equipment | 23 | €2,486 | €17,321 | +€14,834 | +596.7% |
| Furniture and vehicles | 24 | €18,621 | €18,985 | +€364 | +2.0% |
| Other tangible fixed assets | 26 | €1,917 | €1,661 | -€257 | -13.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €61,228 | €44,056 | -€17,171 | -28.0% |
| Stocks and contracts in progress | 3 | €4,453 | €6,240 | +€1,786 | +40.1% |
| Stocks | 30/36 | €4,453 | €6,240 | +€1,786 | +40.1% |
| Amounts receivable within one year | 40/41 | €30,245 | €22,075 | -€8,170 | -27.0% |
| Trade receivables | 40 | €28,088 | €11,988 | -€16,099 | -57.3% |
| Other amounts receivable | 41 | €2,158 | €10,087 | +€7,930 | +367.5% |
| Cash at bank and in hand | 54/58 | €25,845 | €14,773 | -€11,072 | -42.8% |
| Deferred charges and accrued income | 490/1 | €685 | €969 | +€284 | +41.5% |
| Total equity and liabilities | 10/49 | €174,680 | €204,806 | +€30,126 | +17.2% |
| Equity | 10/15 | €81,490 | €78,146 | -€3,344 | -4.1% |
| Contributions | 10/11 | €13,815 | €13,815 | = | 0.0% |
| Reserves | 13 | €67,485 | €64,141 | -€3,344 | -5.0% |
| Distributable reserves | 133 | €67,485 | €64,141 | -€3,344 | -5.0% |
| Profit (loss) carried forward | 14 | €190 | €190 | = | 0.0% |
| Amounts payable | 17/49 | €93,190 | €126,660 | +€33,470 | +35.9% |
| Amounts payable within one year | 42/48 | €93,190 | €125,613 | +€32,423 | +34.8% |
| Trade debts | 44 | €23,341 | €56,267 | +€32,926 | +141.1% |
| Suppliers | 440/4 | €23,341 | €56,267 | +€32,926 | +141.1% |
| Taxes, remuneration and social security | 45 | €19,849 | €28,284 | +€8,435 | +42.5% |
| Taxes | 450/3 | €16,888 | €17,665 | +€777 | +4.6% |
| Remuneration and social security | 454/9 | €2,962 | €10,619 | +€7,658 | +258.6% |
| Other amounts payable | 47/48 | €50,000 | €41,062 | -€8,938 | -17.9% |
| Accrued charges and deferred income | 492/3 | - | €1,047 | +€1,047 | |
| Non-recurring operating income | 76A | - | €176 | +€176 | |
| Remuneration, social security and pensions | 62 | €124,379 | €142,224 | +€17,845 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,172 | €20,883 | +€10,711 | +105.3% |
| Other operating charges | 640/8 | €2,812 | €1,000 | -€1,813 | -64.5% |
| Gross operating margin | 9900 | €155,738 | €207,264 | +€51,526 | +33.1% |
| Operating profit (loss) | 9901 | €18,375 | €43,158 | +€24,783 | +134.9% |
| Financial income | 75/76B | €121 | €407 | +€286 | +236.5% |
| Recurring financial income | 75 | €121 | €407 | +€286 | +236.5% |
| Financial charges | 65/66B | €7,869 | €1,776 | -€6,093 | -77.4% |
| Recurring financial charges | 65 | €7,869 | €1,776 | -€6,093 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | €10,626 | €41,788 | +€31,161 | +293.2% |
| Income taxes | 67/77 | €735 | €12,951 | +€12,216 | +1662.3% |
| Profit (loss) for the period | 9904 | €9,891 | €28,836 | +€18,945 | +191.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,891 | €28,836 | +€18,945 | +191.5% |
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 3 October 2026 via checked.be.