CODELFIN: 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.
CODELFIN
Largest movements
- Financial fixed assets +€250,000
new in 2025: €250,000
- Deferred charges and accrued income +€32,613
up €32,613 (+1,608%), from €2,028 to €34,641
- Debts after one year +€166,954
up €166,954 (+4,822%), from €3,463 to €170,416
- Other debts +€67,463
up €67,463 (+2,240%), from €3,011 to €70,474
- Current portion of long-term debt +€27,570
up €27,570 (+809%), from €3,409 to €30,979
- Tax, wage and social debts +€21,736
up €21,736 (+167%), from €13,036 to €34,772
of which Taxes: +€22,236
- Trade debts +€4,334
up €4,334 (+68.6%), from €6,317 to €10,651
- Gross operating margin +€21,020
up €21,020 (+121%), from €17,431 to €38,451
- Other operating charges +€7,102
up €7,102 (+379%), from €1,875 to €8,978
- Taxes +€5,428
up €5,428 (+116%), from €4,694 to €10,122
- Financial income +€993
up €993 (+46.9%), from €2,116 to €3,109
- Financial charges +€993
up €993 (+307%), from €324 to €1,317
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 | €128,297 | €413,100 | +€284,803 | +222% |
| Fixed assets | 21/28 | €17,168 | €264,174 | +€247,006 | +1,439% |
| Tangible fixed assets | 22/27 | €17,168 | €14,174 | -€2,994 | -17.4% |
| Furniture and vehicles | 24 | €17,168 | €10,481 | -€6,687 | -38.9% |
| Other tangible fixed assets | 26 | - | €3,693 | +€3,693 | |
| Financial fixed assets | 28 | - | €250,000 | +€250,000 | |
| Current assets | 29/58 | €111,129 | €148,926 | +€37,797 | +34.0% |
| Amounts receivable after more than one year | 29 | €63,909 | €65,672 | +€1,764 | +2.8% |
| Other amounts receivable | 291 | €63,909 | €65,672 | +€1,764 | +2.8% |
| Amounts receivable within one year | 40/41 | €36,237 | €38,680 | +€2,443 | +6.7% |
| Trade receivables | 40 | €5,310 | €15,549 | +€10,238 | +193% |
| Other amounts receivable | 41 | €30,927 | €23,132 | -€7,795 | -25.2% |
| Cash at bank and in hand | 54/58 | €8,954 | €9,932 | +€978 | +10.9% |
| Deferred charges and accrued income | 490/1 | €2,028 | €34,641 | +€32,613 | +1,608% |
| Total equity and liabilities | 10/49 | €128,297 | €413,100 | +€284,803 | +222% |
| Equity | 10/15 | €95,055 | €91,808 | -€3,247 | -3.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €74,803 | €71,556 | -€3,248 | -4.3% |
| 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 | €72,943 | €69,696 | -€3,248 | -4.5% |
| Profit (loss) carried forward | 14 | €14,052 | €14,053 | +€1 | 0.0% |
| Amounts payable | 17/49 | €33,242 | €321,292 | +€288,050 | +867% |
| Amounts payable after more than one year | 17 | €3,463 | €170,416 | +€166,954 | +4,822% |
| Financial debts | 170/4 | €3,463 | €170,416 | +€166,954 | +4,822% |
| Amounts payable within one year | 42/48 | €25,773 | €146,876 | +€121,103 | +470% |
| Current portion of amounts payable after more than one year | 42 | €3,409 | €30,979 | +€27,570 | +809% |
| Trade debts | 44 | €6,317 | €10,651 | +€4,334 | +68.6% |
| Suppliers | 440/4 | €6,317 | €10,651 | +€4,334 | +68.6% |
| Taxes, remuneration and social security | 45 | €13,036 | €34,772 | +€21,736 | +167% |
| Taxes | 450/3 | €12,436 | €34,672 | +€22,236 | +179% |
| Remuneration and social security | 454/9 | €600 | €100 | -€500 | -83.4% |
| Other amounts payable | 47/48 | €3,011 | €70,474 | +€67,463 | +2,240% |
| Accrued charges and deferred income | 492/3 | €4,006 | €4,000 | -€6 | -0.2% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,160 | €6,928 | +€768 | +12.5% |
| Other operating charges | 640/8 | €1,875 | €8,978 | +€7,102 | +379% |
| Gross operating margin | 9900 | €17,431 | €38,451 | +€21,020 | +121% |
| Operating profit (loss) | 9901 | €9,396 | €22,545 | +€13,150 | +140% |
| Financial income | 75/76B | €2,116 | €3,109 | +€993 | +46.9% |
| Recurring financial income | 75 | €2,116 | €3,109 | +€993 | +46.9% |
| Financial charges | 65/66B | €324 | €1,317 | +€993 | +307% |
| Recurring financial charges | 65 | €324 | €1,317 | +€993 | +307% |
| Profit (loss) for the period before taxes | 9903 | €11,188 | €24,338 | +€13,150 | +118% |
| Income taxes | 67/77 | €4,694 | €10,122 | +€5,428 | +116% |
| Profit (loss) for the period | 9904 | €6,494 | €14,216 | +€7,722 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €6,494 | €14,216 | +€7,722 | +119% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.