CODESC: 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.
CODESC
Largest movements
- Cash -€7,412
no longer reported in 2025 (was €7,412)
mainly Investment in fixed assets (net) (-€6,900) and Trade debts (-€5,797)
- Tangible fixed assets +€5,439
up €5,439 (+236.1%), from €2,303 to €7,742
of which Furniture and vehicles: +€5,700
- Receivables within one year +€3,998
up €3,998 (+19.2%), from €20,875 to €24,873
of which Other amounts receivable: +€8,362
- Trade debts -€5,797
down €5,797 (-93.2%), from €6,220 to €423
- Tax, wage and social debts -€5,472
down €5,472 (-47.6%), from €11,489 to €6,018
of which Taxes: -€3,547
- Debts after one year +€4,860
up €4,860 (+729.2%), from €666 to €5,526
- Short-term financial debts +€3,573
new in 2025: €3,573
- Reserves +€2,997
up €2,997 (+28.5%), from €10,523 to €13,520
- Gross operating margin -€11,192
down €11,192 (-61.7%), from €18,151 to €6,960
- Taxes -€3,156
down €3,156 (-66.9%), from €4,717 to €1,561
- Other operating charges -€941
down €941 (-62.1%), from €1,514 to €573
- Depreciation +€536
up €536 (+58.0%), from €925 to €1,461
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 | €30,591 | €32,615 | +€2,024 | +6.6% |
| Fixed assets | 21/28 | €2,303 | €7,742 | +€5,439 | +236.1% |
| Tangible fixed assets | 22/27 | €2,303 | €7,742 | +€5,439 | +236.1% |
| Plant, machinery and equipment | 23 | €414 | €152 | -€261 | -63.2% |
| Furniture and vehicles | 24 | €1,890 | €7,590 | +€5,700 | +301.6% |
| Current assets | 29/58 | €28,288 | €24,873 | -€3,415 | -12.1% |
| Amounts receivable within one year | 40/41 | €20,875 | €24,873 | +€3,998 | +19.2% |
| Trade receivables | 40 | €14,466 | €10,103 | -€4,364 | -30.2% |
| Other amounts receivable | 41 | €6,409 | €14,771 | +€8,362 | +130.5% |
| Cash at bank and in hand | 54/58 | €7,412 | - | -€7,412 | |
| Total equity and liabilities | 10/49 | €30,591 | €32,615 | +€2,024 | +6.6% |
| Equity | 10/15 | €11,523 | €14,520 | +€2,997 | +26.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €10,523 | €13,520 | +€2,997 | +28.5% |
| Distributable reserves | 133 | €10,523 | €13,520 | +€2,997 | +28.5% |
| Amounts payable | 17/49 | €19,068 | €18,095 | -€973 | -5.1% |
| Amounts payable after more than one year | 17 | €666 | €5,526 | +€4,860 | +729.2% |
| Financial debts | 170/4 | €666 | €5,526 | +€4,860 | +729.2% |
| Amounts payable within one year | 42/48 | €18,402 | €12,569 | -€5,833 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €692 | €2,555 | +€1,863 | +269.0% |
| Financial debts | 43 | - | €3,573 | +€3,573 | |
| Credit institutions | 430/8 | - | €3,573 | +€3,573 | |
| Trade debts | 44 | €6,220 | €423 | -€5,797 | -93.2% |
| Suppliers | 440/4 | €6,220 | €423 | -€5,797 | -93.2% |
| Taxes, remuneration and social security | 45 | €11,489 | €6,018 | -€5,472 | -47.6% |
| Taxes | 450/3 | €9,564 | €6,018 | -€3,547 | -37.1% |
| Remuneration and social security | 454/9 | €1,925 | - | -€1,925 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €925 | €1,461 | +€536 | +58.0% |
| Other operating charges | 640/8 | €1,514 | €573 | -€941 | -62.1% |
| Gross operating margin | 9900 | €18,151 | €6,960 | -€11,192 | -61.7% |
| Operating profit (loss) | 9901 | €15,713 | €4,926 | -€10,787 | -68.7% |
| Financial income | 75/76B | €16 | €48 | +€32 | +203.5% |
| Recurring financial income | 75 | €16 | €48 | +€32 | +203.5% |
| Financial charges | 65/66B | €489 | €416 | -€73 | -14.9% |
| Recurring financial charges | 65 | €489 | €416 | -€73 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €15,240 | €4,558 | -€10,682 | -70.1% |
| Income taxes | 67/77 | €4,717 | €1,561 | -€3,156 | -66.9% |
| Profit (loss) for the period | 9904 | €10,523 | €2,997 | -€7,526 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,523 | €2,997 | -€7,526 | -71.5% |
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 29 September 2026 via checked.be.