CODETTE: 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.
CODETTE
Largest movements
- Tangible fixed assets +€20,108
new in 2025: €20,108
- Receivables within one year -€12,220
down €12,220 (-31.2%), from €39,209 to €26,989
of which Trade receivables: -€12,233
- Cash +€5,095
up €5,095 (+51.2%), from €9,943 to €15,038
- Other debts -€41,387
down €41,387 (-33.3%), from €124,418 to €83,032
- Trade debts +€37,649
up €37,649 (+132.6%), from €28,399 to €66,048
- Debts after one year +€21,230
new in 2025: €21,230
- Tax, wage and social debts -€5,599
down €5,599 (-33.8%), from €16,562 to €10,963
of which Remuneration and social security: -€5,122
- Profit (loss) carried forward +€1,090
up €1,090 (+0.8%), from -€138,828 to -€137,738
- Gross operating margin +€27,667
up €27,667 (+24.4%), from €113,397 to €141,063
- Staff costs +€26,913
up €26,913 (+25.9%), from €103,956 to €130,868
- Depreciation +€8,066
new in 2025: €8,066
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,152 | €62,135 | +€12,983 | +26.4% |
| Fixed assets | 21/28 | - | €20,108 | +€20,108 | |
| Tangible fixed assets | 22/27 | - | €20,108 | +€20,108 | |
| Furniture and vehicles | 24 | - | €20,108 | +€20,108 | |
| Current assets | 29/58 | €49,152 | €42,027 | -€7,125 | -14.5% |
| Amounts receivable within one year | 40/41 | €39,209 | €26,989 | -€12,220 | -31.2% |
| Trade receivables | 40 | €39,209 | €26,976 | -€12,233 | -31.2% |
| Other amounts receivable | 41 | - | €13 | +€13 | |
| Cash at bank and in hand | 54/58 | €9,943 | €15,038 | +€5,095 | +51.2% |
| Total equity and liabilities | 10/49 | €49,152 | €62,135 | +€12,983 | +26.4% |
| Equity | 10/15 | -€120,228 | -€119,138 | +€1,090 | +0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,828 | -€137,738 | +€1,090 | +0.8% |
| Amounts payable | 17/49 | €169,380 | €181,273 | +€11,893 | +7.0% |
| Amounts payable after more than one year | 17 | - | €21,230 | +€21,230 | |
| Financial debts | 170/4 | - | €21,230 | +€21,230 | |
| Amounts payable within one year | 42/48 | €169,380 | €160,042 | -€9,337 | -5.5% |
| Trade debts | 44 | €28,399 | €66,048 | +€37,649 | +132.6% |
| Suppliers | 440/4 | €28,399 | €66,048 | +€37,649 | +132.6% |
| Taxes, remuneration and social security | 45 | €16,562 | €10,963 | -€5,599 | -33.8% |
| Taxes | 450/3 | €1,392 | €915 | -€477 | -34.3% |
| Remuneration and social security | 454/9 | €15,170 | €10,048 | -€5,122 | -33.8% |
| Other amounts payable | 47/48 | €124,418 | €83,032 | -€41,387 | -33.3% |
| Non-recurring operating income | 76A | €4,072 | - | -€4,072 | |
| Remuneration, social security and pensions | 62 | €103,956 | €130,868 | +€26,913 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,066 | +€8,066 | |
| Other operating charges | 640/8 | €244 | €371 | +€127 | +52.0% |
| Gross operating margin | 9900 | €113,397 | €141,063 | +€27,667 | +24.4% |
| Operating profit (loss) | 9901 | €9,197 | €1,758 | -€7,439 | -80.9% |
| Financial income | 75/76B | - | €305 | +€305 | |
| Recurring financial income | 75 | - | €305 | +€305 | |
| Financial charges | 65/66B | €182 | €973 | +€790 | +433.2% |
| Recurring financial charges | 65 | €182 | €973 | +€790 | +433.2% |
| Profit (loss) for the period before taxes | 9903 | €9,015 | €1,090 | -€7,925 | -87.9% |
| Profit (loss) for the period | 9904 | €9,015 | €1,090 | -€7,925 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,015 | €1,090 | -€7,925 | -87.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.