CodeCapital: 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.
CodeCapital
Largest movements
- Receivables within one year +€103,331
up €103,331 (+24.9%), from €414,372 to €517,703
of which Trade receivables: +€109,328
- Intangible fixed assets -€66,912
down €66,912 (-44.9%), from €149,047 to €82,135
- Profit (loss) carried forward +€89,597
up €89,597 (+179%), from €50,162 to €139,759
- Current portion of long-term debt -€81,275
down €81,275 (-67.7%), from €120,000 to €38,725
- Trade debts -€62,536
down €62,536 (-34.9%), from €179,175 to €116,638
- Debts after one year +€38,665
up €38,665 (+107%), from €36,275 to €74,940
- Other debts +€28,668
new in 2025: €28,668
- Gross operating margin +€99,350
up €99,350 (+43.9%), from €226,203 to €325,553
- Staff costs +€35,559
up €35,559 (+38.2%), from €93,141 to €128,700
- Taxes +€14,302
up €14,302 (+154%), from €9,269 to €23,571
- Financial income -€11,407
down €11,407 (-100.0%), from €11,408 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.
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 | €599,168 | €631,733 | +€32,565 | +5.4% |
| Fixed assets | 21/28 | €157,837 | €87,051 | -€70,786 | -44.8% |
| Intangible fixed assets | 21 | €149,047 | €82,135 | -€66,912 | -44.9% |
| Tangible fixed assets | 22/27 | €8,790 | €4,916 | -€3,874 | -44.1% |
| Furniture and vehicles | 24 | €8,790 | €4,916 | -€3,874 | -44.1% |
| Current assets | 29/58 | €441,331 | €544,682 | +€103,351 | +23.4% |
| Amounts receivable within one year | 40/41 | €414,372 | €517,703 | +€103,331 | +24.9% |
| Trade receivables | 40 | €398,710 | €508,038 | +€109,328 | +27.4% |
| Other amounts receivable | 41 | €15,662 | €9,665 | -€5,997 | -38.3% |
| Cash at bank and in hand | 54/58 | €23,353 | €25,048 | +€1,695 | +7.3% |
| Deferred charges and accrued income | 490/1 | €3,606 | €1,931 | -€1,675 | -46.4% |
| Total equity and liabilities | 10/49 | €599,168 | €631,733 | +€32,565 | +5.4% |
| Equity | 10/15 | €150,162 | €239,759 | +€89,597 | +59.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,162 | €139,759 | +€89,597 | +179% |
| Amounts payable | 17/49 | €449,006 | €391,974 | -€57,032 | -12.7% |
| Amounts payable after more than one year | 17 | €36,275 | €74,940 | +€38,665 | +107% |
| Financial debts | 170/4 | €36,275 | €74,940 | +€38,665 | +107% |
| Amounts payable within one year | 42/48 | €412,731 | €317,034 | -€95,697 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €120,000 | €38,725 | -€81,275 | -67.7% |
| Financial debts | 43 | €65,000 | €79,071 | +€14,071 | +21.6% |
| Credit institutions | 430/8 | €65,000 | €79,071 | +€14,071 | +21.6% |
| Trade debts | 44 | €179,175 | €116,638 | -€62,536 | -34.9% |
| Suppliers | 440/4 | €179,175 | €116,638 | -€62,536 | -34.9% |
| Taxes, remuneration and social security | 45 | €48,556 | €53,932 | +€5,376 | +11.1% |
| Taxes | 450/3 | €42,304 | €33,365 | -€8,939 | -21.1% |
| Remuneration and social security | 454/9 | €6,253 | €20,568 | +€14,315 | +229% |
| Other amounts payable | 47/48 | - | €28,668 | +€28,668 | |
| Remuneration, social security and pensions | 62 | €93,141 | €128,700 | +€35,559 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,046 | €72,550 | -€496 | -0.7% |
| Other operating charges | 640/8 | €1,857 | €703 | -€1,154 | -62.1% |
| Gross operating margin | 9900 | €226,203 | €325,553 | +€99,350 | +43.9% |
| Operating profit (loss) | 9901 | €58,159 | €123,601 | +€65,442 | +113% |
| Financial income | 75/76B | €11,408 | €0 | -€11,407 | -100.0% |
| Recurring financial income | 75 | €11,408 | €0 | -€11,407 | -100.0% |
| Financial charges | 65/66B | €7,311 | €10,434 | +€3,122 | +42.7% |
| Recurring financial charges | 65 | €7,311 | €10,434 | +€3,122 | +42.7% |
| Profit (loss) for the period before taxes | 9903 | €62,256 | €113,168 | +€50,912 | +81.8% |
| Income taxes | 67/77 | €9,269 | €23,571 | +€14,302 | +154% |
| Profit (loss) for the period | 9904 | €52,987 | €89,597 | +€36,610 | +69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,987 | €89,597 | +€36,610 | +69.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.