CODEBROTHRS: what changed
Two financial 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.
CODEBROTHRS
Largest movements
- Cash +€13,722
up €13,722 (+32.3%), from €42,482 to €56,205
mainly Other debts (+€34,177) and Net result for the year (+€25,643)
- Tangible fixed assets -€7,041
down €7,041 (-12.8%), from €54,957 to €47,916
of which Furniture and vehicles: -€4,833
- Other debts +€34,177
up €34,177 (+474%), from €7,206 to €41,384
- Reserves -€31,402
down €31,402 (-53.3%), from €58,905 to €27,503
of which Distributable reserves: -€31,402
- Debts after one year -€3,008
down €3,008 (-13.3%), from €22,571 to €19,563
- Tax, wage and social debts +€2,920
up €2,920 (+70.8%), from €4,125 to €7,045
- Trade debts +€1,664
new in 2025: €1,664
- Depreciation +€2,426
up €2,426 (+39.7%), from €6,103 to €8,528
- Gross operating margin +€1,477
up €1,477 (+3.4%), from €43,198 to €44,675
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.
Derived cash bridge
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 | €115,713 | €121,707 | +€5,994 | +5.2% |
| Fixed assets | 21/28 | €54,957 | €47,916 | -€7,041 | -12.8% |
| Tangible fixed assets | 22/27 | €54,957 | €47,916 | -€7,041 | -12.8% |
| Land and buildings | 22 | €30,107 | €28,980 | -€1,128 | -3.7% |
| Plant, machinery and equipment | 23 | €1,888 | €808 | -€1,080 | -57.2% |
| Furniture and vehicles | 24 | €22,962 | €18,128 | -€4,833 | -21.0% |
| Current assets | 29/58 | €60,756 | €73,791 | +€13,035 | +21.5% |
| Amounts receivable within one year | 40/41 | €18,196 | €17,328 | -€868 | -4.8% |
| Trade receivables | 40 | €16,038 | €16,117 | +€79 | +0.5% |
| Other amounts receivable | 41 | €2,157 | €1,211 | -€947 | -43.9% |
| Cash at bank and in hand | 54/58 | €42,482 | €56,205 | +€13,722 | +32.3% |
| Deferred charges and accrued income | 490/1 | €78 | €259 | +€181 | +231% |
| Total equity and liabilities | 10/49 | €115,713 | €121,707 | +€5,994 | +5.2% |
| Equity | 10/15 | €77,505 | €46,103 | -€31,402 | -40.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,905 | €27,503 | -€31,402 | -53.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €57,045 | €25,643 | -€31,402 | -55.0% |
| Amounts payable | 17/49 | €38,209 | €75,604 | +€37,396 | +97.9% |
| Amounts payable after more than one year | 17 | €22,571 | €19,563 | -€3,008 | -13.3% |
| Financial debts | 170/4 | €22,571 | €19,563 | -€3,008 | -13.3% |
| Amounts payable within one year | 42/48 | €15,638 | €55,632 | +€39,994 | +256% |
| Current portion of amounts payable after more than one year | 42 | €4,306 | €5,539 | +€1,233 | +28.6% |
| Trade debts | 44 | - | €1,664 | +€1,664 | |
| Suppliers | 440/4 | - | €1,664 | +€1,664 | |
| Taxes, remuneration and social security | 45 | €4,125 | €7,045 | +€2,920 | +70.8% |
| Taxes | 450/3 | €4,125 | €7,045 | +€2,920 | +70.8% |
| Other amounts payable | 47/48 | €7,206 | €41,384 | +€34,177 | +474% |
| Accrued charges and deferred income | 492/3 | - | €410 | +€410 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,103 | €8,528 | +€2,426 | +39.7% |
| Other operating charges | 640/8 | €510 | €526 | +€16 | +3.2% |
| Gross operating margin | 9900 | €43,198 | €44,675 | +€1,477 | +3.4% |
| Operating profit (loss) | 9901 | €36,585 | €35,621 | -€965 | -2.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,487 | €1,376 | -€111 | -7.5% |
| Recurring financial charges | 65 | €1,487 | €1,376 | -€111 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €35,098 | €34,245 | -€853 | -2.4% |
| Income taxes | 67/77 | €8,433 | €8,602 | +€169 | +2.0% |
| Profit (loss) for the period | 9904 | €26,665 | €25,643 | -€1,022 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,665 | €25,643 | -€1,022 | -3.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.