Codeq: what changed
Two fiscal 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.
Codeq
Largest movements
- Tangible fixed assets -€4,033
down €4,033 (-3.7%), from €108,155 to €104,122
of which Furniture and vehicles: -€4,033
- Cash +€3,086
up €3,086 (+16.9%), from €18,262 to €21,347
mainly Net result for the year (+€20,086) and Depreciation (+€4,033)
- Profit (loss) carried forward +€20,086
up €20,086 (+7.3%), from -€273,591 to -€253,505
- Trade debts -€12,345
down €12,345 (-28.2%), from €43,734 to €31,389
- Other debts -€4,673
down €4,673 (-23.2%), from €20,162 to €15,489
- Current portion of long-term debt -€4,032
down €4,032 (-74.7%), from €5,397 to €1,365
- Tax, wage and social debts +€3,373
up €3,373 (+314.1%), from €1,074 to €4,448
- Taxes +€6,398
up €6,398 (+685.0%), from €934 to €7,332
- Gross operating margin -€6,178
down €6,178 (-14.0%), from €44,062 to €37,885
- Depreciation -€5,489
down €5,489 (-57.6%), from €9,523 to €4,033
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 | €128,006 | €128,353 | +€347 | +0.3% |
| Fixed assets | 21/28 | €108,155 | €104,122 | -€4,033 | -3.7% |
| Tangible fixed assets | 22/27 | €108,155 | €104,122 | -€4,033 | -3.7% |
| Land and buildings | 22 | €100,000 | €100,000 | = | 0.0% |
| Furniture and vehicles | 24 | €8,155 | €4,122 | -€4,033 | -49.5% |
| Current assets | 29/58 | €19,851 | €24,232 | +€4,381 | +22.1% |
| Amounts receivable within one year | 40/41 | €241 | €698 | +€457 | +190.1% |
| Trade receivables | 40 | €241 | €698 | +€457 | +190.1% |
| Cash at bank and in hand | 54/58 | €18,262 | €21,347 | +€3,086 | +16.9% |
| Deferred charges and accrued income | 490/1 | €1,349 | €2,187 | +€838 | +62.1% |
| Total equity and liabilities | 10/49 | €128,006 | €128,353 | +€347 | +0.3% |
| Equity | 10/15 | €55,155 | €75,241 | +€20,086 | +36.4% |
| Contributions | 10/11 | €134,000 | €134,000 | = | 0.0% |
| Revaluation surpluses | 12 | €189,321 | €189,321 | = | 0.0% |
| Reserves | 13 | €5,425 | €5,425 | = | 0.0% |
| Distributable reserves | 133 | €5,425 | €5,425 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,591 | -€253,505 | +€20,086 | +7.3% |
| Amounts payable | 17/49 | €72,851 | €53,112 | -€19,739 | -27.1% |
| Amounts payable after more than one year | 17 | €1,365 | €0 | -€1,365 | -100.0% |
| Financial debts | 170/4 | €1,365 | €0 | -€1,365 | -100.0% |
| Amounts payable within one year | 42/48 | €70,367 | €52,690 | -€17,677 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €5,397 | €1,365 | -€4,032 | -74.7% |
| Trade debts | 44 | €43,734 | €31,389 | -€12,345 | -28.2% |
| Suppliers | 440/4 | €43,734 | €31,389 | -€12,345 | -28.2% |
| Taxes, remuneration and social security | 45 | €1,074 | €4,448 | +€3,373 | +314.1% |
| Taxes | 450/3 | €1,074 | €4,448 | +€3,373 | +314.1% |
| Other amounts payable | 47/48 | €20,162 | €15,489 | -€4,673 | -23.2% |
| Accrued charges and deferred income | 492/3 | €1,120 | €423 | -€697 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,523 | €4,033 | -€5,489 | -57.6% |
| Other operating charges | 640/8 | €5,565 | €5,606 | +€41 | +0.7% |
| Gross operating margin | 9900 | €44,062 | €37,885 | -€6,178 | -14.0% |
| Operating profit (loss) | 9901 | €28,974 | €28,245 | -€730 | -2.5% |
| Financial charges | 65/66B | €778 | €826 | +€49 | +6.2% |
| Recurring financial charges | 65 | €778 | €826 | +€49 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €28,196 | €27,418 | -€778 | -2.8% |
| Income taxes | 67/77 | €934 | €7,332 | +€6,398 | +685.0% |
| Profit (loss) for the period | 9904 | €27,262 | €20,086 | -€7,176 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,262 | €20,086 | -€7,176 | -26.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.