CODEKA: 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.
CODEKA
Largest movements
- Cash -€30,496
down €30,496 (-97.8%), from €31,179 to €683
mainly Other debts (-€66,385) and Tax, wage and social debts (-€5,690)
- Receivables within one year -€12,970
down €12,970 (-16.2%), from €80,048 to €67,078
of which Other amounts receivable: -€14,498
- Deferred charges and accrued income -€3,430
down €3,430 (-50.7%), from €6,767 to €3,336
- Other debts -€66,385
down €66,385 (-98.2%), from €67,577 to €1,192
- Short-term financial debts +€22,350
new in 2025: €22,350
- Trade debts +€7,474
up €7,474 (+237.5%), from €3,146 to €10,620
- Tax, wage and social debts -€5,690
down €5,690 (-17.9%), from €31,827 to €26,137
- Profit (loss) carried forward -€4,258
new in 2025: -€4,258
- Gross operating margin -€219,651
down €219,651 (-99.6%), from €220,425 to €773
- Taxes -€53,371
down €53,371 (-99.5%), from €53,654 to €282
- Financial income -€2,287
down €2,287 (-38.5%), from €5,941 to €3,654
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 | €125,674 | €79,164 | -€46,510 | -37.0% |
| Fixed assets | 21/28 | €2,395 | €2,648 | +€254 | +10.6% |
| Tangible fixed assets | 22/27 | €2,395 | €2,648 | +€254 | +10.6% |
| Furniture and vehicles | 24 | €2,395 | €2,648 | +€254 | +10.6% |
| Current assets | 29/58 | €123,280 | €76,516 | -€46,764 | -37.9% |
| Stocks and contracts in progress | 3 | €5,286 | €5,418 | +€132 | +2.5% |
| Stocks | 30/36 | €5,286 | €5,418 | +€132 | +2.5% |
| Amounts receivable within one year | 40/41 | €80,048 | €67,078 | -€12,970 | -16.2% |
| Trade receivables | 40 | €10,583 | €12,111 | +€1,529 | +14.4% |
| Other amounts receivable | 41 | €69,466 | €54,967 | -€14,498 | -20.9% |
| Cash at bank and in hand | 54/58 | €31,179 | €683 | -€30,496 | -97.8% |
| Deferred charges and accrued income | 490/1 | €6,767 | €3,336 | -€3,430 | -50.7% |
| Total equity and liabilities | 10/49 | €125,674 | €79,164 | -€46,510 | -37.0% |
| Equity | 10/15 | €23,123 | €18,865 | -€4,258 | -18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,523 | €4,523 | = | 0.0% |
| Distributable reserves | 133 | €4,523 | €4,523 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,258 | -€4,258 | |
| Amounts payable | 17/49 | €102,551 | €60,299 | -€42,252 | -41.2% |
| Amounts payable within one year | 42/48 | €102,551 | €60,299 | -€42,252 | -41.2% |
| Financial debts | 43 | - | €22,350 | +€22,350 | |
| Credit institutions | 430/8 | - | €22,350 | +€22,350 | |
| Trade debts | 44 | €3,146 | €10,620 | +€7,474 | +237.5% |
| Suppliers | 440/4 | €3,146 | €10,620 | +€7,474 | +237.5% |
| Taxes, remuneration and social security | 45 | €31,827 | €26,137 | -€5,690 | -17.9% |
| Taxes | 450/3 | €31,827 | €26,137 | -€5,690 | -17.9% |
| Other amounts payable | 47/48 | €67,577 | €1,192 | -€66,385 | -98.2% |
| Non-recurring operating income | 76A | €320,718 | - | -€320,718 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,150 | €1,359 | +€209 | +18.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €734 | +€734 | |
| Other operating charges | 640/8 | €1,847 | €1,952 | +€104 | +5.7% |
| Non-recurring operating charges | 66A | - | €2,047 | +€2,047 | |
| Gross operating margin | 9900 | €220,425 | €773 | -€219,651 | -99.6% |
| Operating profit (loss) | 9901 | €217,428 | -€5,319 | -€222,747 | |
| Financial income | 75/76B | €5,941 | €3,654 | -€2,287 | -38.5% |
| Recurring financial income | 75 | €5,941 | €3,654 | -€2,287 | -38.5% |
| Financial charges | 65/66B | €2,138 | €2,310 | +€173 | +8.1% |
| Recurring financial charges | 65 | €2,138 | €2,310 | +€173 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €221,231 | -€3,976 | -€225,207 | |
| Income taxes | 67/77 | €53,654 | €282 | -€53,371 | -99.5% |
| Profit (loss) for the period | 9904 | €167,577 | -€4,258 | -€171,836 | |
| Profit (loss) for the period to be appropriated | 9905 | €167,577 | -€4,258 | -€171,836 |
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 12 October 2026 via checked.be.