Codesmith: 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.
Codesmith
Largest movements
- Current investments +€61,698
new in 2025: €61,698
- Cash -€57,872
down €57,872 (-79.2%), from €73,052 to €15,180
mainly Contributions, distributions and other (-€260,000) and Current investments (-€61,698)
- Tangible fixed assets -€18,857
down €18,857 (-4.7%), from €401,590 to €382,732
of which Land and buildings: -€12,804
- Receivables within one year +€12,913
up €12,913 (+28.1%), from €46,002 to €58,915
of which Other amounts receivable: +€10,000
- Other debts +€150,870
up €150,870 (+214%), from €70,337 to €221,207
- Profit (loss) carried forward -€107,754
down €107,754 (-60.1%), from €179,359 to €71,605
- Debts after one year -€32,348
down €32,348 (-13.7%), from €235,425 to €203,076
- Tax, wage and social debts -€12,557
down €12,557 (-50.4%), from €24,939 to €12,382
- Financial income +€28,143
up €28,143 (+446,014%), from €6 to €28,150
- Gross operating margin +€15,487
up €15,487 (+10.3%), from €151,076 to €166,564
- Taxes +€6,256
up €6,256 (+62.6%), from €9,987 to €16,243
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 | €520,643 | €518,525 | -€2,118 | -0.4% |
| Fixed assets | 21/28 | €401,590 | €382,732 | -€18,857 | -4.7% |
| Tangible fixed assets | 22/27 | €401,590 | €382,732 | -€18,857 | -4.7% |
| Land and buildings | 22 | €382,543 | €369,738 | -€12,804 | -3.3% |
| Plant, machinery and equipment | 23 | €2,022 | €1,447 | -€575 | -28.4% |
| Furniture and vehicles | 24 | €17,025 | €11,548 | -€5,478 | -32.2% |
| Current assets | 29/58 | €119,053 | €135,792 | +€16,739 | +14.1% |
| Amounts receivable within one year | 40/41 | €46,002 | €58,915 | +€12,913 | +28.1% |
| Trade receivables | 40 | €26,002 | €28,915 | +€2,913 | +11.2% |
| Other amounts receivable | 41 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Current investments | 50/53 | - | €61,698 | +€61,698 | |
| Cash at bank and in hand | 54/58 | €73,052 | €15,180 | -€57,872 | -79.2% |
| Total equity and liabilities | 10/49 | €520,643 | €518,525 | -€2,118 | -0.4% |
| Equity | 10/15 | €189,359 | €81,605 | -€107,754 | -56.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €179,359 | €71,605 | -€107,754 | -60.1% |
| Amounts payable | 17/49 | €331,284 | €436,920 | +€105,636 | +31.9% |
| Amounts payable after more than one year | 17 | €235,425 | €203,076 | -€32,348 | -13.7% |
| Financial debts | 170/4 | €235,425 | €203,076 | -€32,348 | -13.7% |
| Amounts payable within one year | 42/48 | €95,859 | €233,844 | +€137,984 | +144% |
| Trade debts | 44 | €583 | €255 | -€329 | -56.3% |
| Suppliers | 440/4 | €583 | €255 | -€329 | -56.3% |
| Taxes, remuneration and social security | 45 | €24,939 | €12,382 | -€12,557 | -50.4% |
| Taxes | 450/3 | €24,939 | €12,382 | -€12,557 | -50.4% |
| Other amounts payable | 47/48 | €70,337 | €221,207 | +€150,870 | +214% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,047 | €20,713 | -€334 | -1.6% |
| Other operating charges | 640/8 | €2,041 | €1,592 | -€449 | -22.0% |
| Gross operating margin | 9900 | €151,076 | €166,564 | +€15,487 | +10.3% |
| Operating profit (loss) | 9901 | €127,989 | €144,259 | +€16,270 | +12.7% |
| Financial income | 75/76B | €6 | €28,150 | +€28,143 | +446,014% |
| Recurring financial income | 75 | €6 | €28,150 | +€28,143 | +446,014% |
| Financial charges | 65/66B | €3,433 | €3,920 | +€487 | +14.2% |
| Recurring financial charges | 65 | €3,433 | €3,920 | +€487 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €124,562 | €168,489 | +€43,927 | +35.3% |
| Income taxes | 67/77 | €9,987 | €16,243 | +€6,256 | +62.6% |
| Profit (loss) for the period | 9904 | €114,575 | €152,246 | +€37,670 | +32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €114,575 | €152,246 | +€37,670 | +32.9% |
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 15 October 2026 via checked.be.