Codefondo: 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.
Codefondo
Largest movements
- Cash +€40,567
up €40,567 (+23.3%), from €173,898 to €214,465
mainly Other debts (+€155,733) and Net result for the year (+€76,531)
- Current investments +€32,710
up €32,710 (+261.7%), from €12,500 to €45,210
- Tangible fixed assets -€15,751
down €15,751 (-29.6%), from €53,153 to €37,403
of which Furniture and vehicles: -€14,583
- Other debts +€155,733
up €155,733 (+1099.5%), from €14,164 to €169,897
- Reserves -€111,328
down €111,328 (-52.7%), from €211,081 to €99,753
- Tax, wage and social debts +€16,232
up €16,232 (+137.3%), from €11,826 to €28,058
- Trade debts -€4,451
down €4,451 (-73.2%), from €6,082 to €1,631
- Financial income +€11,326
up €11,326 (+312.9%), from €3,620 to €14,946
of which Non-recurring financial income: +€13,879
- Gross operating margin +€4,795
up €4,795 (+5.1%), from €93,394 to €98,189
- Taxes -€1,973
down €1,973 (-9.0%), from €21,859 to €19,886
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 | €261,152 | €317,938 | +€56,786 | +21.7% |
| Fixed assets | 21/28 | €53,153 | €37,403 | -€15,751 | -29.6% |
| Tangible fixed assets | 22/27 | €53,153 | €37,403 | -€15,751 | -29.6% |
| Plant, machinery and equipment | 23 | €1,974 | €806 | -€1,168 | -59.2% |
| Furniture and vehicles | 24 | €51,179 | €36,596 | -€14,583 | -28.5% |
| Current assets | 29/58 | €207,999 | €280,536 | +€72,537 | +34.9% |
| Amounts receivable within one year | 40/41 | €21,257 | €20,506 | -€751 | -3.5% |
| Trade receivables | 40 | €14,687 | €16,052 | +€1,365 | +9.3% |
| Other amounts receivable | 41 | €6,570 | €4,454 | -€2,116 | -32.2% |
| Current investments | 50/53 | €12,500 | €45,210 | +€32,710 | +261.7% |
| Cash at bank and in hand | 54/58 | €173,898 | €214,465 | +€40,567 | +23.3% |
| Deferred charges and accrued income | 490/1 | €344 | €355 | +€11 | +3.2% |
| Total equity and liabilities | 10/49 | €261,152 | €317,938 | +€56,786 | +21.7% |
| Equity | 10/15 | €229,081 | €118,353 | -€110,728 | -48.3% |
| Contributions | 10/11 | €18,000 | €18,600 | +€600 | +3.3% |
| Reserves | 13 | €211,081 | €99,753 | -€111,328 | -52.7% |
| Distributable reserves | 133 | €211,081 | €99,753 | -€111,328 | -52.7% |
| Amounts payable | 17/49 | €32,071 | €199,586 | +€167,514 | +522.3% |
| Amounts payable within one year | 42/48 | €32,071 | €199,586 | +€167,514 | +522.3% |
| Trade debts | 44 | €6,082 | €1,631 | -€4,451 | -73.2% |
| Suppliers | 440/4 | €6,082 | €1,631 | -€4,451 | -73.2% |
| Taxes, remuneration and social security | 45 | €11,826 | €28,058 | +€16,232 | +137.3% |
| Taxes | 450/3 | €11,826 | €28,058 | +€16,232 | +137.3% |
| Other amounts payable | 47/48 | €14,164 | €169,897 | +€155,733 | +1099.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,344 | €15,751 | -€594 | -3.6% |
| Other operating charges | 640/8 | €46 | €183 | +€137 | +298.7% |
| Gross operating margin | 9900 | €93,394 | €98,189 | +€4,795 | +5.1% |
| Operating profit (loss) | 9901 | €77,004 | €82,256 | +€5,252 | +6.8% |
| Financial income | 75/76B | €3,620 | €14,946 | +€11,326 | +312.9% |
| Recurring financial income | 75 | €3,620 | €1,067 | -€2,552 | -70.5% |
| Non-recurring financial income | 76B | - | €13,879 | +€13,879 | |
| Financial charges | 65/66B | €225 | €785 | +€560 | +248.4% |
| Recurring financial charges | 65 | €225 | €785 | +€560 | +248.4% |
| Profit (loss) for the period before taxes | 9903 | €80,399 | €96,417 | +€16,018 | +19.9% |
| Income taxes | 67/77 | €21,859 | €19,886 | -€1,973 | -9.0% |
| Profit (loss) for the period | 9904 | €58,540 | €76,531 | +€17,992 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,540 | €76,531 | +€17,992 | +30.7% |
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 8 October 2026 via checked.be.