Codens: 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.
Codens
Largest movements
- Cash -€30,705
down €30,705 (-44.1%), from €69,660 to €38,955
mainly Contributions, distributions and other (-€50,000) and Trade debts (-€48,411)
- Receivables after one year -€30,000
down €30,000 (-46.9%), from €64,000 to €34,000
- Receivables within one year +€12,332
up €12,332 (+9.9%), from €125,071 to €137,402
of which Other amounts receivable: +€8,998
- Trade debts -€48,411
down €48,411 (-83.3%), from €58,113 to €9,702
- Gross operating margin -€16,077
down €16,077 (-18.6%), from €86,343 to €70,267
- Taxes -€4,007
down €4,007 (-18.6%), from €21,490 to €17,483
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 | €260,620 | €212,247 | -€48,373 | -18.6% |
| Fixed assets | 21/28 | €1,890 | €1,890 | = | 0.0% |
| Financial fixed assets | 28 | €1,890 | €1,890 | = | 0.0% |
| Current assets | 29/58 | €258,730 | €210,357 | -€48,373 | -18.7% |
| Amounts receivable after more than one year | 29 | €64,000 | €34,000 | -€30,000 | -46.9% |
| Other amounts receivable | 291 | €64,000 | €34,000 | -€30,000 | -46.9% |
| Amounts receivable within one year | 40/41 | €125,071 | €137,402 | +€12,332 | +9.9% |
| Trade receivables | 40 | €73,193 | €76,527 | +€3,334 | +4.6% |
| Other amounts receivable | 41 | €51,877 | €60,875 | +€8,998 | +17.3% |
| Cash at bank and in hand | 54/58 | €69,660 | €38,955 | -€30,705 | -44.1% |
| Total equity and liabilities | 10/49 | €260,620 | €212,247 | -€48,373 | -18.6% |
| Equity | 10/15 | €120,045 | €122,279 | +€2,235 | +1.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €58,545 | €60,779 | +€2,235 | +3.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €52,395 | €54,629 | +€2,235 | +4.3% |
| Amounts payable | 17/49 | €140,576 | €89,968 | -€50,608 | -36.0% |
| Amounts payable within one year | 42/48 | €140,576 | €89,968 | -€50,608 | -36.0% |
| Trade debts | 44 | €58,113 | €9,702 | -€48,411 | -83.3% |
| Suppliers | 440/4 | €58,113 | €9,702 | -€48,411 | -83.3% |
| Taxes, remuneration and social security | 45 | €2,130 | €1,030 | -€1,100 | -51.6% |
| Taxes | 450/3 | €2,130 | €1,030 | -€1,100 | -51.6% |
| Other amounts payable | 47/48 | €80,332 | €79,236 | -€1,096 | -1.4% |
| Other operating charges | 640/8 | €508 | €513 | +€5 | +1.1% |
| Gross operating margin | 9900 | €86,343 | €70,267 | -€16,077 | -18.6% |
| Operating profit (loss) | 9901 | €85,836 | €69,753 | -€16,082 | -18.7% |
| Financial income | 75/76B | €2,193 | €1,990 | -€203 | -9.3% |
| Recurring financial income | 75 | €2,193 | €1,990 | -€203 | -9.3% |
| Financial charges | 65/66B | €2,089 | €2,025 | -€64 | -3.1% |
| Recurring financial charges | 65 | €2,089 | €2,025 | -€64 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €85,939 | €69,718 | -€16,221 | -18.9% |
| Income taxes | 67/77 | €21,490 | €17,483 | -€4,007 | -18.6% |
| Profit (loss) for the period | 9904 | €64,449 | €52,235 | -€12,214 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,449 | €52,235 | -€12,214 | -19.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.