CODECO INTERNATIONAL: 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.
CODECO INTERNATIONAL
Largest movements
- Financial fixed assets +€901,834
up €901,834 (+919%), from €98,166 to €1.0m
- Other debts +€681,745
up €681,745 (+1,160%), from €58,773 to €740,519
- Debts after one year +€250,000
new in 2025: €250,000
- Profit (loss) carried forward -€40,538
down €40,538, from €229 to -€40,309
- Reserves +€38,534
up €38,534 (+239%), from €16,139 to €54,673
of which Tax-exempt reserves: +€38,534
- Trade debts -€25,878
down €25,878 (-97.3%), from €26,589 to €711
- Gross operating margin -€10,501
down €10,501 (-44.8%), from -€23,425 to -€33,925
- Other operating charges +€670
up €670 (+117%), from €574 to €1,244
- Depreciation +€554
up €554 (+11.3%), from €4,917 to €5,470
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 | €120,322 | €1,024,185 | +€903,863 | +751% |
| Fixed assets | 21/28 | €118,480 | €1,022,004 | +€903,524 | +763% |
| Tangible fixed assets | 22/27 | €20,314 | €22,004 | +€1,690 | +8.3% |
| Furniture and vehicles | 24 | €4,780 | €9,911 | +€5,131 | +107% |
| Other tangible fixed assets | 26 | €15,534 | €12,093 | -€3,441 | -22.2% |
| Financial fixed assets | 28 | €98,166 | €1,000,000 | +€901,834 | +919% |
| Current assets | 29/58 | €1,842 | €2,181 | +€339 | +18.4% |
| Amounts receivable within one year | 40/41 | €1,607 | €1,264 | -€344 | -21.4% |
| Other amounts receivable | 41 | €1,607 | €1,264 | -€344 | -21.4% |
| Cash at bank and in hand | 54/58 | €217 | €879 | +€662 | +305% |
| Deferred charges and accrued income | 490/1 | €18 | €38 | +€20 | +113% |
| Total equity and liabilities | 10/49 | €120,322 | €1,024,185 | +€903,863 | +751% |
| Equity | 10/15 | €34,960 | €32,956 | -€2,004 | -5.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €16,139 | €54,673 | +€38,534 | +239% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Other | 1319 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | - | €38,534 | +€38,534 | |
| Distributable reserves | 133 | €14,280 | €14,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | €229 | -€40,309 | -€40,538 | |
| Amounts payable | 17/49 | €85,362 | €991,229 | +€905,867 | +1,061% |
| Amounts payable after more than one year | 17 | - | €250,000 | +€250,000 | |
| Financial debts | 170/4 | - | €250,000 | +€250,000 | |
| Amounts payable within one year | 42/48 | €85,362 | €741,229 | +€655,867 | +768% |
| Trade debts | 44 | €26,589 | €711 | -€25,878 | -97.3% |
| Suppliers | 440/4 | €26,589 | €711 | -€25,878 | -97.3% |
| Other amounts payable | 47/48 | €58,773 | €740,519 | +€681,745 | +1,160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,917 | €5,470 | +€554 | +11.3% |
| Other operating charges | 640/8 | €574 | €1,244 | +€670 | +117% |
| Gross operating margin | 9900 | -€23,425 | -€33,925 | -€10,501 | -44.8% |
| Operating profit (loss) | 9901 | -€28,915 | -€40,639 | -€11,724 | -40.5% |
| Financial income | 75/76B | - | €200 | +€200 | |
| Recurring financial income | 75 | - | €200 | +€200 | |
| Financial charges | 65/66B | €77 | €99 | +€22 | +29.2% |
| Recurring financial charges | 65 | €77 | €99 | +€22 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | -€28,992 | -€40,538 | -€11,546 | -39.8% |
| Profit (loss) for the period | 9904 | -€28,992 | -€40,538 | -€11,546 | -39.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,992 | -€40,538 | -€11,546 | -39.8% |
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 17 October 2026 via checked.be.