CODEVCO XVI: 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.
CODEVCO XVI
Largest movements
- Receivables within one year +€1,838
up €1,838 (+295%), from €623 to €2,461
- Cash +€762
up €762 (+1.3%), from €60,877 to €61,639
- Trade debts +€2,600
new in 2026: €2,600
- Financial income -€740
down €740 (-45.3%), from €1,632 to €892
- Gross operating margin -€115
down €115 (-20.1%), from -€572 to -€687
- Financial charges +€17
up €17 (+9.1%), from €188 to €204
From the 2025 result to the 2026 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,500 | €64,100 | +€2,600 | +4.2% |
| Current assets | 29/58 | €61,500 | €64,100 | +€2,600 | +4.2% |
| Amounts receivable within one year | 40/41 | €623 | €2,461 | +€1,838 | +295% |
| Trade receivables | 40 | €623 | €2,461 | +€1,838 | +295% |
| Cash at bank and in hand | 54/58 | €60,877 | €61,639 | +€762 | +1.3% |
| Total equity and liabilities | 10/49 | €61,500 | €64,100 | +€2,600 | +4.2% |
| Equity | 10/15 | €61,500 | €61,500 | = | 0.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Amounts payable | 17/49 | - | €2,600 | +€2,600 | |
| Amounts payable within one year | 42/48 | - | €2,600 | +€2,600 | |
| Trade debts | 44 | - | €2,600 | +€2,600 | |
| Suppliers | 440/4 | - | €2,600 | +€2,600 | |
| Gross operating margin | 9900 | -€572 | -€687 | -€115 | -20.1% |
| Operating profit (loss) | 9901 | -€572 | -€687 | -€115 | -20.1% |
| Financial income | 75/76B | €1,632 | €892 | -€740 | -45.3% |
| Recurring financial income | 75 | €1,632 | €892 | -€740 | -45.3% |
| Financial charges | 65/66B | €188 | €204 | +€17 | +9.1% |
| Recurring financial charges | 65 | €188 | €204 | +€17 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €872 | - | -€872 | |
| Profit (loss) for the period | 9904 | €872 | - | -€872 | |
| Profit (loss) for the period to be appropriated | 9905 | €872 | - | -€872 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.