CODEMI: 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.
CODEMI
Largest movements
- Tangible fixed assets -€56,812
down €56,812 (-2.1%), from €2.7m to €2.7m
- Other debts -€500,000
no longer reported in 2026 (was €500,000)
- Short-term financial debts +€337,000
up €337,000 (+52.2%), from €645,000 to €982,000
- Profit (loss) carried forward +€105,354
up €105,354 (+8.5%), from €1.2m to €1.3m
- Gross operating margin +€41,172
up €41,172 (+26.2%), from €157,156 to €198,328
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,722,536 | €2,667,022 | -€55,514 | -2.0% |
| Fixed assets | 21/28 | €2,722,067 | €2,665,255 | -€56,812 | -2.1% |
| Tangible fixed assets | 22/27 | €2,722,067 | €2,665,255 | -€56,812 | -2.1% |
| Land and buildings | 22 | €2,722,067 | €2,665,255 | -€56,812 | -2.1% |
| Current assets | 29/58 | €469 | €1,767 | +€1,298 | +276.8% |
| Cash at bank and in hand | 54/58 | €469 | €1,767 | +€1,298 | +276.8% |
| Total equity and liabilities | 10/49 | €2,722,536 | €2,667,022 | -€55,514 | -2.0% |
| Equity | 10/15 | €1,564,665 | €1,670,019 | +€105,354 | +6.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,234,665 | €1,340,019 | +€105,354 | +8.5% |
| Amounts payable | 17/49 | €1,157,871 | €997,003 | -€160,868 | -13.9% |
| Amounts payable within one year | 42/48 | €1,157,871 | €997,003 | -€160,868 | -13.9% |
| Financial debts | 43 | €645,000 | €982,000 | +€337,000 | +52.2% |
| Credit institutions | 430/8 | €645,000 | €982,000 | +€337,000 | +52.2% |
| Trade debts | 44 | €12,871 | €15,003 | +€2,132 | +16.6% |
| Suppliers | 440/4 | €12,871 | €15,003 | +€2,132 | +16.6% |
| Other amounts payable | 47/48 | €500,000 | - | -€500,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,813 | €56,812 | -€1 | 0.0% |
| Other operating charges | 640/8 | €22,549 | €22,928 | +€379 | +1.7% |
| Gross operating margin | 9900 | €157,156 | €198,328 | +€41,172 | +26.2% |
| Operating profit (loss) | 9901 | €77,794 | €118,588 | +€40,794 | +52.4% |
| Financial charges | 65/66B | €13,656 | €13,234 | -€422 | -3.1% |
| Recurring financial charges | 65 | €13,656 | €13,234 | -€422 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €64,138 | €105,354 | +€41,216 | +64.3% |
| Profit (loss) for the period | 9904 | €64,138 | €105,354 | +€41,216 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,138 | €105,354 | +€41,216 | +64.3% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.