CODEFLOW Systems: 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.
CODEFLOW Systems
Largest movements
- Cash -€16,533
down €16,533 (-39.5%), from €41,844 to €25,311
mainly Investment in fixed assets (net) (-€19,351) and Current investments (-€12,898)
- Tangible fixed assets +€13,388
up €13,388 (+65.6%), from €20,401 to €33,789
of which Furniture and vehicles: +€16,133
- Current investments +€12,898
up €12,898 (+16.7%), from €77,382 to €90,280
- Receivables within one year -€2,840
down €2,840 (-14.1%), from €20,168 to €17,329
of which Trade receivables: -€3,127
- Current portion of long-term debt +€9,179
new in 2025: €9,179
- Reserves +€6,693
up €6,693 (+5.3%), from €126,940 to €133,633
of which Distributable reserves: +€6,693
- Tax, wage and social debts -€5,680
down €5,680 (-22.5%), from €25,283 to €19,603
of which Taxes: -€3,927
- Trade debts -€3,980
down €3,980 (-68.8%), from €5,789 to €1,808
- Gross operating margin +€10,696
up €10,696 (+22.2%), from €48,162 to €58,858
- Taxes +€3,628
up €3,628 (+85.4%), from €4,248 to €7,876
- Financial income +€3,502
up €3,502 (+252.5%), from €1,387 to €4,889
- Depreciation +€2,218
up €2,218 (+59.2%), from €3,746 to €5,964
- Staff costs -€860
down €860 (-2.3%), from €37,934 to €37,073
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 | €163,469 | €170,423 | +€6,954 | +4.3% |
| Fixed assets | 21/28 | €20,581 | €33,969 | +€13,388 | +65.0% |
| Tangible fixed assets | 22/27 | €20,401 | €33,789 | +€13,388 | +65.6% |
| Land and buildings | 22 | €13,662 | €10,917 | -€2,745 | -20.1% |
| Furniture and vehicles | 24 | €6,739 | €22,872 | +€16,133 | +239.4% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €142,888 | €136,454 | -€6,434 | -4.5% |
| Amounts receivable within one year | 40/41 | €20,168 | €17,329 | -€2,840 | -14.1% |
| Trade receivables | 40 | €15,505 | €12,378 | -€3,127 | -20.2% |
| Other amounts receivable | 41 | €4,663 | €4,950 | +€287 | +6.2% |
| Current investments | 50/53 | €77,382 | €90,280 | +€12,898 | +16.7% |
| Cash at bank and in hand | 54/58 | €41,844 | €25,311 | -€16,533 | -39.5% |
| Deferred charges and accrued income | 490/1 | €3,494 | €3,534 | +€40 | +1.2% |
| Total equity and liabilities | 10/49 | €163,469 | €170,423 | +€6,954 | +4.3% |
| Equity | 10/15 | €132,397 | €139,833 | +€7,436 | +5.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €126,940 | €133,633 | +€6,693 | +5.3% |
| 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 | €125,080 | €131,773 | +€6,693 | +5.4% |
| Profit (loss) carried forward | 14 | -€743 | €0 | +€743 | |
| Amounts payable | 17/49 | €31,072 | €30,590 | -€482 | -1.6% |
| Amounts payable within one year | 42/48 | €31,072 | €30,590 | -€482 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | - | €9,179 | +€9,179 | |
| Trade debts | 44 | €5,789 | €1,808 | -€3,980 | -68.8% |
| Suppliers | 440/4 | €5,789 | €1,808 | -€3,980 | -68.8% |
| Taxes, remuneration and social security | 45 | €25,283 | €19,603 | -€5,680 | -22.5% |
| Taxes | 450/3 | €16,620 | €12,693 | -€3,927 | -23.6% |
| Remuneration and social security | 454/9 | €8,664 | €6,910 | -€1,753 | -20.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €37,934 | €37,073 | -€860 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,746 | €5,964 | +€2,218 | +59.2% |
| Other operating charges | 640/8 | €3,398 | €3,489 | +€91 | +2.7% |
| Non-recurring operating charges | 66A | - | €491 | +€491 | |
| Gross operating margin | 9900 | €48,162 | €58,858 | +€10,696 | +22.2% |
| Operating profit (loss) | 9901 | €3,085 | €11,841 | +€8,756 | +283.8% |
| Financial income | 75/76B | €1,387 | €4,889 | +€3,502 | +252.5% |
| Recurring financial income | 75 | €1,387 | €4,889 | +€3,502 | +252.5% |
| Financial charges | 65/66B | €966 | €1,418 | +€453 | +46.9% |
| Recurring financial charges | 65 | €966 | €1,418 | +€453 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | €3,506 | €15,312 | +€11,806 | +336.7% |
| Income taxes | 67/77 | €4,248 | €7,876 | +€3,628 | +85.4% |
| Profit (loss) for the period | 9904 | -€743 | €7,436 | +€8,178 | |
| Profit (loss) for the period to be appropriated | 9905 | -€743 | €7,436 | +€8,178 |
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.