CODEV: 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.
CODEV
Largest movements
- Cash +€47,126
up €47,126 (+40.9%), from €115,230 to €162,356
mainly Net result for the year (+€45,745) and Receivables within one year (+€2,682)
- Receivables within one year -€2,682
down €2,682 (-20.8%), from €12,884 to €10,202
- Deferred charges and accrued income -€1,872
down €1,872 (-75.2%), from €2,489 to €617
- Reserves +€45,745
up €45,745 (+44.3%), from €103,367 to €149,112
- Tax, wage and social debts -€2,957
down €2,957 (-13.8%), from €21,379 to €18,422
- Gross operating margin -€8,845
down €8,845 (-13.1%), from €67,758 to €58,913
- Taxes -€2,157
down €2,157 (-15.1%), from €14,299 to €12,142
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 | €130,603 | €173,176 | +€42,573 | +32.6% |
| Current assets | 29/58 | €130,603 | €173,176 | +€42,573 | +32.6% |
| Amounts receivable within one year | 40/41 | €12,884 | €10,202 | -€2,682 | -20.8% |
| Trade receivables | 40 | €12,884 | €10,202 | -€2,682 | -20.8% |
| Cash at bank and in hand | 54/58 | €115,230 | €162,356 | +€47,126 | +40.9% |
| Deferred charges and accrued income | 490/1 | €2,489 | €617 | -€1,872 | -75.2% |
| Total equity and liabilities | 10/49 | €130,603 | €173,176 | +€42,573 | +32.6% |
| Equity | 10/15 | €106,367 | €152,112 | +€45,745 | +43.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €103,367 | €149,112 | +€45,745 | +44.3% |
| Distributable reserves | 133 | €103,367 | €149,112 | +€45,745 | +44.3% |
| Amounts payable | 17/49 | €24,236 | €21,064 | -€3,172 | -13.1% |
| Amounts payable within one year | 42/48 | €24,084 | €21,051 | -€3,033 | -12.6% |
| Trade debts | 44 | €2,378 | €1,920 | -€457 | -19.2% |
| Suppliers | 440/4 | €2,378 | €1,920 | -€457 | -19.2% |
| Taxes, remuneration and social security | 45 | €21,379 | €18,422 | -€2,957 | -13.8% |
| Taxes | 450/3 | €21,379 | €18,422 | -€2,957 | -13.8% |
| Other amounts payable | 47/48 | €327 | €708 | +€381 | +116.4% |
| Accrued charges and deferred income | 492/3 | €152 | €13 | -€139 | -91.2% |
| Other operating charges | 640/8 | €276 | €747 | +€471 | +171.0% |
| Gross operating margin | 9900 | €67,758 | €58,913 | -€8,845 | -13.1% |
| Operating profit (loss) | 9901 | €67,482 | €58,165 | -€9,317 | -13.8% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | €140 | €279 | +€139 | +99.2% |
| Recurring financial charges | 65 | €140 | €279 | +€139 | +99.2% |
| Profit (loss) for the period before taxes | 9903 | €67,348 | €57,886 | -€9,462 | -14.0% |
| Income taxes | 67/77 | €14,299 | €12,142 | -€2,157 | -15.1% |
| Profit (loss) for the period | 9904 | €53,049 | €45,745 | -€7,304 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,049 | €45,745 | -€7,304 | -13.8% |
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.