Codesco: 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.
Codesco
Largest movements
- Cash +€2,075
up €2,075 (+861.5%), from €241 to €2,316
mainly Net result for the year (+€2,148) and Depreciation (+€1,534)
- Tangible fixed assets -€1,534
down €1,534 (-32.1%), from €4,781 to €3,247
- Stocks and contracts +€1,463
up €1,463 (+594.7%), from €246 to €1,709
- Receivables within one year -€658
down €658 (-31.8%), from €2,066 to €1,408
of which Other amounts receivable: -€514
- Deferred charges and accrued income +€551
up €551 (+295.1%), from €187 to €738
- Profit (loss) carried forward +€2,148
up €2,148 (+0.8%), from -€254,896 to -€252,748
- Other debts -€206
down €206 (-0.2%), from €134,472 to €134,266
- Gross operating margin +€14,891
up €14,891, from -€10,638 to €4,253
- Depreciation +€377
up €377 (+32.6%), from €1,157 to €1,534
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 | €7,521 | €9,418 | +€1,897 | +25.2% |
| Fixed assets | 21/28 | €4,781 | €3,247 | -€1,534 | -32.1% |
| Tangible fixed assets | 22/27 | €4,781 | €3,247 | -€1,534 | -32.1% |
| Furniture and vehicles | 24 | €4,781 | €3,247 | -€1,534 | -32.1% |
| Current assets | 29/58 | €2,740 | €6,171 | +€3,431 | +125.2% |
| Stocks and contracts in progress | 3 | €246 | €1,709 | +€1,463 | +594.7% |
| Stocks | 30/36 | €246 | €1,709 | +€1,463 | +594.7% |
| Amounts receivable within one year | 40/41 | €2,066 | €1,408 | -€658 | -31.8% |
| Trade receivables | 40 | €1,230 | €1,086 | -€144 | -11.7% |
| Other amounts receivable | 41 | €836 | €322 | -€514 | -61.5% |
| Cash at bank and in hand | 54/58 | €241 | €2,316 | +€2,075 | +861.5% |
| Deferred charges and accrued income | 490/1 | €187 | €738 | +€551 | +295.1% |
| Total equity and liabilities | 10/49 | €7,521 | €9,418 | +€1,897 | +25.2% |
| Equity | 10/15 | -€128,490 | -€126,341 | +€2,149 | +1.7% |
| Contributions | 10/11 | €107,000 | €107,000 | = | 0.0% |
| Capital | 10 | €107,000 | €107,000 | = | 0.0% |
| Issued capital | 100 | €107,000 | €107,000 | = | 0.0% |
| Reserves | 13 | €19,407 | €19,407 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €3,098 | €3,098 | = | 0.0% |
| Legal reserve | 130 | €3,098 | €3,098 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €10,309 | €10,309 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€254,896 | -€252,748 | +€2,148 | +0.8% |
| Amounts payable | 17/49 | €136,010 | €135,759 | -€251 | -0.2% |
| Amounts payable within one year | 42/48 | €136,010 | €135,759 | -€251 | -0.2% |
| Trade debts | 44 | €1,538 | €1,493 | -€45 | -3.0% |
| Suppliers | 440/4 | €1,538 | €1,493 | -€45 | -3.0% |
| Other amounts payable | 47/48 | €134,472 | €134,266 | -€206 | -0.2% |
| Non-recurring operating income | 76A | - | €450 | +€450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,157 | €1,534 | +€377 | +32.6% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.3% |
| Gross operating margin | 9900 | -€10,638 | €4,253 | +€14,891 | |
| Operating profit (loss) | 9901 | -€12,183 | €2,319 | +€14,502 | |
| Financial charges | 65/66B | €225 | €171 | -€54 | -23.9% |
| Recurring financial charges | 65 | €225 | €171 | -€54 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | -€12,408 | €2,148 | +€14,556 | |
| Profit (loss) for the period | 9904 | -€12,408 | €2,148 | +€14,556 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,408 | €2,148 | +€14,556 |
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 12 October 2026 via checked.be.