CoDeBuMa: 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.
CoDeBuMa
Largest movements
- Receivables within one year -€38,396
down €38,396 (-56.0%), from €68,600 to €30,204
of which Trade receivables: -€38,847
- Deferred charges and accrued income -€2,611
down €2,611 (-30.6%), from €8,522 to €5,911
- Cash -€2,209
down €2,209 (-13.0%), from €17,004 to €14,794
mainly Net result for the year (-€32,645) and Tax, wage and social debts (-€8,473)
- Tangible fixed assets -€2,072
down €2,072 (-13.6%), from €15,269 to €13,198
of which Other tangible fixed assets: -€1,633
- Profit (loss) carried forward -€32,645
down €32,645 (-85.9%), from -€38,021 to -€70,666
- Tax, wage and social debts -€8,473
down €8,473 (-90.7%), from €9,346 to €873
- Other debts -€4,313
down €4,313 (-21.6%), from €19,971 to €15,658
- Gross operating margin -€89,667
down €89,667, from €62,001 to -€27,666
- Write-downs -€25,564
down €25,564 (-100.0%), from €25,564 to €0
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 | €109,396 | €64,107 | -€45,288 | -41.4% |
| Fixed assets | 21/28 | €15,269 | €13,198 | -€2,072 | -13.6% |
| Tangible fixed assets | 22/27 | €15,269 | €13,198 | -€2,072 | -13.6% |
| Furniture and vehicles | 24 | €439 | €0 | -€439 | -100.0% |
| Other tangible fixed assets | 26 | €14,831 | €13,198 | -€1,633 | -11.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €94,126 | €50,910 | -€43,217 | -45.9% |
| Amounts receivable within one year | 40/41 | €68,600 | €30,204 | -€38,396 | -56.0% |
| Trade receivables | 40 | €68,600 | €29,753 | -€38,847 | -56.6% |
| Other amounts receivable | 41 | - | €451 | +€451 | |
| Cash at bank and in hand | 54/58 | €17,004 | €14,794 | -€2,209 | -13.0% |
| Deferred charges and accrued income | 490/1 | €8,522 | €5,911 | -€2,611 | -30.6% |
| Total equity and liabilities | 10/49 | €109,396 | €64,107 | -€45,288 | -41.4% |
| Equity | 10/15 | €79,175 | €46,530 | -€32,645 | -41.2% |
| Contributions | 10/11 | €45,100 | €45,100 | = | 0.0% |
| Reserves | 13 | €72,096 | €72,096 | = | 0.0% |
| Distributable reserves | 133 | €72,096 | €72,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,021 | -€70,666 | -€32,645 | -85.9% |
| Amounts payable | 17/49 | €30,221 | €17,577 | -€12,643 | -41.8% |
| Amounts payable within one year | 42/48 | €30,221 | €17,577 | -€12,643 | -41.8% |
| Trade debts | 44 | €903 | €1,046 | +€143 | +15.8% |
| Suppliers | 440/4 | €903 | €1,046 | +€143 | +15.8% |
| Taxes, remuneration and social security | 45 | €9,346 | €873 | -€8,473 | -90.7% |
| Taxes | 450/3 | €9,346 | €873 | -€8,473 | -90.7% |
| Other amounts payable | 47/48 | €19,971 | €15,658 | -€4,313 | -21.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,337 | €2,072 | -€266 | -11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,564 | €0 | -€25,564 | -100.0% |
| Other operating charges | 640/8 | €896 | €989 | +€92 | +10.3% |
| Gross operating margin | 9900 | €62,001 | -€27,666 | -€89,667 | |
| Operating profit (loss) | 9901 | €33,204 | -€30,726 | -€63,930 | |
| Financial income | 75/76B | €260 | €149 | -€111 | -42.8% |
| Recurring financial income | 75 | €260 | €149 | -€111 | -42.8% |
| Financial charges | 65/66B | €1,730 | €1,820 | +€90 | +5.2% |
| Recurring financial charges | 65 | €1,730 | €1,820 | +€90 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €31,734 | -€32,397 | -€64,131 | |
| Income taxes | 67/77 | €329 | €248 | -€80 | -24.4% |
| Profit (loss) for the period | 9904 | €31,405 | -€32,645 | -€64,051 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,405 | -€32,645 | -€64,051 |
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 11 October 2026 via checked.be.