CODECHIEF: 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.
CODECHIEF
Largest movements
- Cash -€19,961
down €19,961 (-77.9%), from €25,638 to €5,677
mainly Current investments (-€16,500) and Contributions, distributions and other (-€15,944)
- Current investments +€16,500
up €16,500 (+56.6%), from €29,148 to €45,648
- Tangible fixed assets -€13,444
down €13,444 (-28.8%), from €46,688 to €33,245
of which Leasing and similar rights: -€11,292
- Receivables within one year +€12,968
up €12,968 (+56.2%), from €23,075 to €36,043
of which Trade receivables: +€13,281
- Debts after one year -€11,836
down €11,836 (-44.0%), from €26,873 to €15,037
- Tax, wage and social debts +€6,310
up €6,310 (+294.6%), from €2,142 to €8,451
- Accrued charges and deferred income -€3,250
no longer reported in 2025 (was €3,250)
- Reserves +€2,310
up €2,310 (+2.6%), from €89,736 to €92,046
of which Distributable reserves: +€4,170
- Trade debts +€1,876
up €1,876 (+118.7%), from €1,580 to €3,457
- Gross operating margin -€8,268
down €8,268 (-16.0%), from €51,743 to €43,476
- Taxes -€1,879
down €1,879 (-18.5%), from €10,172 to €8,293
- Financial income -€877
down €877 (-56.4%), from €1,555 to €678
- Depreciation -€686
down €686 (-4.9%), from €14,130 to €13,444
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 | €140,935 | €137,027 | -€3,908 | -2.8% |
| Fixed assets | 21/28 | €61,988 | €48,545 | -€13,444 | -21.7% |
| Tangible fixed assets | 22/27 | €46,688 | €33,245 | -€13,444 | -28.8% |
| Furniture and vehicles | 24 | €8,823 | €6,671 | -€2,152 | -24.4% |
| Leasing and similar rights | 25 | €37,865 | €26,574 | -€11,292 | -29.8% |
| Financial fixed assets | 28 | €15,300 | €15,300 | = | 0.0% |
| Current assets | 29/58 | €78,947 | €88,482 | +€9,536 | +12.1% |
| Amounts receivable within one year | 40/41 | €23,075 | €36,043 | +€12,968 | +56.2% |
| Trade receivables | 40 | €3,320 | €16,601 | +€13,281 | +400.0% |
| Other amounts receivable | 41 | €19,755 | €19,442 | -€313 | -1.6% |
| Current investments | 50/53 | €29,148 | €45,648 | +€16,500 | +56.6% |
| Cash at bank and in hand | 54/58 | €25,638 | €5,677 | -€19,961 | -77.9% |
| Deferred charges and accrued income | 490/1 | €1,085 | €1,114 | +€28 | +2.6% |
| Total equity and liabilities | 10/49 | €140,935 | €137,027 | -€3,908 | -2.8% |
| Equity | 10/15 | €95,936 | €98,246 | +€2,310 | +2.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,736 | €92,046 | +€2,310 | +2.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €87,876 | €92,046 | +€4,170 | +4.7% |
| Amounts payable | 17/49 | €45,000 | €38,781 | -€6,218 | -13.8% |
| Amounts payable after more than one year | 17 | €26,873 | €15,037 | -€11,836 | -44.0% |
| Financial debts | 170/4 | €26,873 | €15,037 | -€11,836 | -44.0% |
| Amounts payable within one year | 42/48 | €14,877 | €23,744 | +€8,868 | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €11,154 | €11,836 | +€682 | +6.1% |
| Trade debts | 44 | €1,580 | €3,457 | +€1,876 | +118.7% |
| Suppliers | 440/4 | €1,580 | €3,457 | +€1,876 | +118.7% |
| Taxes, remuneration and social security | 45 | €2,142 | €8,451 | +€6,310 | +294.6% |
| Taxes | 450/3 | €2,142 | €8,451 | +€6,310 | +294.6% |
| Accrued charges and deferred income | 492/3 | €3,250 | - | -€3,250 | |
| Non-recurring operating income | 76A | €8,060 | - | -€8,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,130 | €13,444 | -€686 | -4.9% |
| Other operating charges | 640/8 | €2,505 | €2,642 | +€137 | +5.5% |
| Gross operating margin | 9900 | €51,743 | €43,476 | -€8,268 | -16.0% |
| Operating profit (loss) | 9901 | €35,109 | €27,390 | -€7,719 | -22.0% |
| Financial income | 75/76B | €1,555 | €678 | -€877 | -56.4% |
| Recurring financial income | 75 | €1,555 | €678 | -€877 | -56.4% |
| Financial charges | 65/66B | €2,010 | €1,521 | -€490 | -24.4% |
| Recurring financial charges | 65 | €2,010 | €1,521 | -€490 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €34,654 | €26,548 | -€8,106 | -23.4% |
| Income taxes | 67/77 | €10,172 | €8,293 | -€1,879 | -18.5% |
| Profit (loss) for the period | 9904 | €24,481 | €18,255 | -€6,226 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,481 | €18,255 | -€6,226 | -25.4% |
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 5 October 2026 via checked.be.