Codev Consulting: 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.
Codev Consulting
Largest movements
- Cash +€12,979
up €12,979 (+19.6%), from €66,389 to €79,369
mainly Net result for the year (+€26,728) and Depreciation (+€7,396)
- Tangible fixed assets -€2,611
down €2,611 (-11.1%), from €23,514 to €20,903
of which Furniture and vehicles: -€6,768
- Receivables within one year -€1,661
down €1,661 (-15.9%), from €10,439 to €8,779
- Reserves +€26,728
up €26,728 (+50.0%), from €53,410 to €80,138
- Tax, wage and social debts -€9,636
down €9,636 (-38.5%), from €25,002 to €15,366
- Debts after one year -€7,367
down €7,367 (-74.4%), from €9,897 to €2,530
- Trade debts -€1,126
down €1,126 (-45.9%), from €2,455 to €1,329
- Gross operating margin -€13,433
down €13,433 (-23.7%), from €56,627 to €43,194
- Taxes -€4,666
down €4,666 (-35.7%), from €13,066 to €8,401
- Other operating charges -€2,193
down €2,193 (-90.1%), from €2,433 to €240
- Financial charges -€577
down €577 (-52.6%), from €1,098 to €521
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 | €100,808 | €109,685 | +€8,876 | +8.8% |
| Fixed assets | 21/28 | €23,514 | €20,903 | -€2,611 | -11.1% |
| Tangible fixed assets | 22/27 | €23,514 | €20,903 | -€2,611 | -11.1% |
| Land and buildings | 22 | - | €4,141 | +€4,141 | |
| Plant, machinery and equipment | 23 | €856 | €871 | +€15 | +1.8% |
| Furniture and vehicles | 24 | €22,658 | €15,890 | -€6,768 | -29.9% |
| Current assets | 29/58 | €77,294 | €88,782 | +€11,488 | +14.9% |
| Amounts receivable within one year | 40/41 | €10,439 | €8,779 | -€1,661 | -15.9% |
| Trade receivables | 40 | €10,439 | €8,779 | -€1,661 | -15.9% |
| Cash at bank and in hand | 54/58 | €66,389 | €79,369 | +€12,979 | +19.6% |
| Deferred charges and accrued income | 490/1 | €465 | €635 | +€169 | +36.4% |
| Total equity and liabilities | 10/49 | €100,808 | €109,685 | +€8,876 | +8.8% |
| Equity | 10/15 | €54,410 | €81,138 | +€26,728 | +49.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €53,410 | €80,138 | +€26,728 | +50.0% |
| Distributable reserves | 133 | €53,410 | €80,138 | +€26,728 | +50.0% |
| Amounts payable | 17/49 | €46,398 | €28,547 | -€17,851 | -38.5% |
| Amounts payable after more than one year | 17 | €9,897 | €2,530 | -€7,367 | -74.4% |
| Financial debts | 170/4 | €9,897 | €2,530 | -€7,367 | -74.4% |
| Amounts payable within one year | 42/48 | €36,458 | €26,017 | -€10,441 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €7,044 | €7,367 | +€324 | +4.6% |
| Trade debts | 44 | €2,455 | €1,329 | -€1,126 | -45.9% |
| Suppliers | 440/4 | €2,455 | €1,329 | -€1,126 | -45.9% |
| Taxes, remuneration and social security | 45 | €25,002 | €15,366 | -€9,636 | -38.5% |
| Taxes | 450/3 | €25,002 | €15,366 | -€9,636 | -38.5% |
| Other amounts payable | 47/48 | €1,958 | €1,955 | -€3 | -0.2% |
| Accrued charges and deferred income | 492/3 | €43 | - | -€43 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,195 | €7,396 | +€201 | +2.8% |
| Other operating charges | 640/8 | €2,433 | €240 | -€2,193 | -90.1% |
| Gross operating margin | 9900 | €56,627 | €43,194 | -€13,433 | -23.7% |
| Operating profit (loss) | 9901 | €47,000 | €35,558 | -€11,442 | -24.3% |
| Financial income | 75/76B | €85 | €91 | +€6 | +7.0% |
| Recurring financial income | 75 | €85 | €91 | +€6 | +7.0% |
| Financial charges | 65/66B | €1,098 | €521 | -€577 | -52.6% |
| Recurring financial charges | 65 | €1,098 | €521 | -€577 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €45,987 | €35,128 | -€10,858 | -23.6% |
| Income taxes | 67/77 | €13,066 | €8,401 | -€4,666 | -35.7% |
| Profit (loss) for the period | 9904 | €32,921 | €26,728 | -€6,193 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,921 | €26,728 | -€6,193 | -18.8% |
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.