CODEM: 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.
CODEM
Largest movements
- Receivables within one year -€123,409
down €123,409 (-100.0%), from €123,409 to €0
- Debts after one year -€796,000
down €796,000 (-85.5%), from €931,500 to €135,500
- Reserves +€720,680
up €720,680 (+17.5%), from €4.1m to €4.8m
- Trade debts -€126,346
down €126,346 (-71.7%), from €176,301 to €49,955
No income-statement line moved by more than 1% of the activity.
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 | €7,994,272 | €7,864,536 | -€129,736 | -1.6% |
| Fixed assets | 21/28 | €7,862,500 | €7,862,500 | = | 0.0% |
| Financial fixed assets | 28 | €7,862,500 | €7,862,500 | = | 0.0% |
| Affiliated companies | 280/1 | €7,862,500 | €7,862,500 | = | 0.0% |
| Participating interests | 280 | €7,862,500 | €7,862,500 | = | 0.0% |
| Current assets | 29/58 | €131,772 | €2,036 | -€129,736 | -98.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €123,409 | €0 | -€123,409 | -100.0% |
| Trade receivables | 40 | €123,409 | €0 | -€123,409 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,363 | €2,036 | -€6,327 | -75.7% |
| Total equity and liabilities | 10/49 | €7,994,272 | €7,864,536 | -€129,736 | -1.6% |
| Equity | 10/15 | €5,126,815 | €5,847,495 | +€720,680 | +14.1% |
| Contributions | 10/11 | €1,020,000 | €1,020,000 | = | 0.0% |
| Reserves | 13 | €4,106,815 | €4,827,495 | +€720,680 | +17.5% |
| Distributable reserves | 133 | €4,106,815 | €4,827,495 | +€720,680 | +17.5% |
| Amounts payable | 17/49 | €2,867,457 | €2,017,041 | -€850,416 | -29.7% |
| Amounts payable after more than one year | 17 | €931,500 | €135,500 | -€796,000 | -85.5% |
| Financial debts | 170/4 | €931,500 | €135,500 | -€796,000 | -85.5% |
| Credit institutions | 173 | €931,500 | €135,500 | -€796,000 | -85.5% |
| Amounts payable within one year | 42/48 | €1,926,399 | €1,877,053 | -€49,346 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €797,000 | €796,000 | -€1,000 | -0.1% |
| Trade debts | 44 | €176,301 | €49,955 | -€126,346 | -71.7% |
| Suppliers | 440/4 | €176,301 | €49,955 | -€126,346 | -71.7% |
| Other amounts payable | 47/48 | €953,098 | €1,031,098 | +€78,000 | +8.2% |
| Accrued charges and deferred income | 492/3 | €9,558 | €4,488 | -€5,070 | -53.0% |
| Operating charges | 60/66A | €6,440 | €3,327 | -€3,113 | -48.3% |
| Services and other goods | 61 | €6,440 | €3,327 | -€3,113 | -48.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | -€6,440 | -€3,327 | +€3,113 | +48.3% |
| Financial income | 75/76B | €840,000 | €840,000 | = | 0.0% |
| Recurring financial income | 75 | €840,000 | €840,000 | = | 0.0% |
| Income from financial fixed assets | 750 | €840,000 | €840,000 | = | 0.0% |
| Financial charges | 65/66B | €131,441 | €115,993 | -€15,449 | -11.8% |
| Recurring financial charges | 65 | €131,441 | €115,993 | -€15,449 | -11.8% |
| Debt charges | 650 | €131,290 | €115,581 | -€15,709 | -12.0% |
| Other financial charges | 652/9 | €151 | €411 | +€260 | +171.9% |
| Profit (loss) for the period before taxes | 9903 | €702,119 | €720,680 | +€18,562 | +2.6% |
| Profit (loss) for the period | 9904 | €702,119 | €720,680 | +€18,562 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €702,119 | €720,680 | +€18,562 | +2.6% |
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 10 October 2026 via checked.be.