CODEMINE: 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.
CODEMINE
Largest movements
- Current investments +€53,000
up €53,000 (+34.4%), from €154,000 to €207,000
- Cash -€12,822
down €12,822 (-13.2%), from €97,015 to €84,194
mainly Contributions, distributions and other (-€149,733) and Current investments (-€53,000)
- Other debts +€135,822
up €135,822 (+792.6%), from €17,135 to €152,957
- Reserves -€104,402
down €104,402 (-43.8%), from €238,170 to €133,767
- Tax, wage and social debts +€3,842
up €3,842 (+92.3%), from €4,162 to €8,004
- Gross operating margin -€8,437
down €8,437 (-11.1%), from €75,790 to €67,353
- Financial charges +€4,618
up €4,618 (+342.4%), from €1,349 to €5,967
- Financial income +€3,692
up €3,692 (+113.5%), from €3,252 to €6,944
- Taxes -€3,622
down €3,622 (-18.3%), from €19,802 to €16,180
- Depreciation +€3,128
up €3,128 (+127.6%), from €2,452 to €5,580
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 | €273,417 | €308,412 | +€34,995 | +12.8% |
| Fixed assets | 21/28 | €8,934 | €5,916 | -€3,019 | -33.8% |
| Tangible fixed assets | 22/27 | €8,934 | €5,916 | -€3,019 | -33.8% |
| Furniture and vehicles | 24 | €8,934 | €5,916 | -€3,019 | -33.8% |
| Current assets | 29/58 | €264,483 | €302,497 | +€38,014 | +14.4% |
| Amounts receivable within one year | 40/41 | €12,637 | €10,442 | -€2,195 | -17.4% |
| Trade receivables | 40 | €12,154 | €10,442 | -€1,711 | -14.1% |
| Other amounts receivable | 41 | €483 | €0 | -€483 | -100.0% |
| Current investments | 50/53 | €154,000 | €207,000 | +€53,000 | +34.4% |
| Cash at bank and in hand | 54/58 | €97,015 | €84,194 | -€12,822 | -13.2% |
| Deferred charges and accrued income | 490/1 | €830 | €861 | +€30 | +3.7% |
| Total equity and liabilities | 10/49 | €273,417 | €308,412 | +€34,995 | +12.8% |
| Equity | 10/15 | €250,570 | €146,167 | -€104,402 | -41.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €238,170 | €133,767 | -€104,402 | -43.8% |
| Distributable reserves | 133 | €238,170 | €133,767 | -€104,402 | -43.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €22,848 | €162,245 | +€139,397 | +610.1% |
| Amounts payable within one year | 42/48 | €22,848 | €162,245 | +€139,397 | +610.1% |
| Trade debts | 44 | €1,550 | €1,285 | -€266 | -17.2% |
| Suppliers | 440/4 | €1,550 | €1,285 | -€266 | -17.2% |
| Taxes, remuneration and social security | 45 | €4,162 | €8,004 | +€3,842 | +92.3% |
| Taxes | 450/3 | €4,162 | €8,004 | +€3,842 | +92.3% |
| Other amounts payable | 47/48 | €17,135 | €152,957 | +€135,822 | +792.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,452 | €5,580 | +€3,128 | +127.6% |
| Other operating charges | 640/8 | €1,320 | €1,240 | -€80 | -6.1% |
| Gross operating margin | 9900 | €75,790 | €67,353 | -€8,437 | -11.1% |
| Operating profit (loss) | 9901 | €72,019 | €60,534 | -€11,485 | -15.9% |
| Financial income | 75/76B | €3,252 | €6,944 | +€3,692 | +113.5% |
| Recurring financial income | 75 | €3,252 | €6,944 | +€3,692 | +113.5% |
| Financial charges | 65/66B | €1,349 | €5,967 | +€4,618 | +342.4% |
| Recurring financial charges | 65 | €1,349 | €5,967 | +€4,618 | +342.4% |
| Profit (loss) for the period before taxes | 9903 | €73,923 | €61,511 | -€12,412 | -16.8% |
| Income taxes | 67/77 | €19,802 | €16,180 | -€3,622 | -18.3% |
| Profit (loss) for the period | 9904 | €54,121 | €45,331 | -€8,790 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,121 | €45,331 | -€8,790 | -16.2% |
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 9 October 2026 via checked.be.