CODEVET: 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.
What changed
CODEVET
NACE 75.000, Veterinary services
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
-€9,118
2025 · €55,098-€64,215
Equity
€221,248
2025 · €230,365-€9,118
Cash
€11,740
2025 · €37,749-€26,009
Balance sheet total
€702,309
2025 · €683,967+€18,342
Largest movements
Assets
- Tangible fixed assets +€45,823
up €45,823 (+7.3%), from €624,848 to €670,672
of which Furniture and vehicles: +€50,825
- Cash -€26,009
down €26,009 (-68.9%), from €37,749 to €11,740
mainly Investment in fixed assets (net) (-€112,088) and Net result for the year (-€9,118)
Equity and liabilities
- Other debts +€21,658
up €21,658 (+31.3%), from €69,128 to €90,786
Income statement
- Gross operating margin -€70,703
down €70,703 (-53.8%), from €131,520 to €60,818
- Depreciation +€8,481
up €8,481 (+14.7%), from €57,784 to €66,264
- Financial charges -€2,250
down €2,250 (-66.8%), from €3,369 to €1,119
- Staff costs -€1,797
no longer reported in 2026 (was €1,797)
From the 2025 result to the 2026 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.
Result 2025
€55,098
Gross operating margin
-€70,703
Staff costs
+€1,797
Depreciation
-€8,481
Other operating charges
-€177
Financial income
+€4
Financial charges
+€2,250
Deferred taxes and other
+€11,095
Result 2026
-€9,118
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€79,662
Investment
-€112,088
Financing
+€6,417
Cash 2025
€37,749
From operations (derived)
+€79,662
Net result for the year
-€9,118
Depreciation
+€66,264
Stocks and contracts
-€301
Receivables within one year
+€3,270
Deferred charges and accrued income
-€1,496
Provisions
-€869
Trade debts
-€5,242
Tax, wage and social debts
+€5,316
Other debts
+€21,658
Accrued charges and deferred income
+€180
Investment (derived)
-€112,088
Investment in fixed assets (net)
-€112,088
Financing
+€6,417
Debts after one year
-€86
Current portion of long-term debt
+€6,502
Cash 2026
€11,740
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €683,967 | €702,309 | +€18,342 | +2.7% |
| Fixed assets | 21/28 | €624,972 | €670,796 | +€45,823 | +7.3% |
| Tangible fixed assets | 22/27 | €624,848 | €670,672 | +€45,823 | +7.3% |
| Land and buildings | 22 | €595,849 | €595,990 | +€141 | 0.0% |
| Plant, machinery and equipment | 23 | €28,999 | €23,857 | -€5,142 | -17.7% |
| Furniture and vehicles | 24 | - | €50,825 | +€50,825 | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €58,995 | €31,513 | -€27,481 | -46.6% |
| Stocks and contracts in progress | 3 | €4,823 | €5,124 | +€301 | +6.2% |
| Stocks | 30/36 | €4,823 | €5,124 | +€301 | +6.2% |
| Amounts receivable within one year | 40/41 | €13,932 | €10,663 | -€3,270 | -23.5% |
| Trade receivables | 40 | €13,932 | €10,663 | -€3,270 | -23.5% |
| Cash at bank and in hand | 54/58 | €37,749 | €11,740 | -€26,009 | -68.9% |
| Deferred charges and accrued income | 490/1 | €2,490 | €3,987 | +€1,496 | +60.1% |
| Total equity and liabilities | 10/49 | €683,967 | €702,309 | +€18,342 | +2.7% |
| Equity | 10/15 | €230,365 | €221,248 | -€9,118 | -4.0% |
| Contributions | 10/11 | €44,621 | €44,621 | = | 0.0% |
| Reserves | 13 | €86,031 | €83,423 | -€2,608 | -3.0% |
| Non-distributable reserves | 130/1 | €4,462 | €4,462 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,462 | €4,462 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,676 | €28,068 | -€2,608 | -8.5% |
| Distributable reserves | 133 | €50,893 | €50,893 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,714 | €93,204 | -€6,509 | -6.5% |
| Provisions and deferred taxes | 16 | €10,225 | €9,356 | -€869 | -8.5% |
| Deferred taxes | 168 | €10,225 | €9,356 | -€869 | -8.5% |
| Amounts payable | 17/49 | €443,376 | €471,705 | +€28,329 | +6.4% |
| Amounts payable after more than one year | 17 | €301,778 | €301,692 | -€86 | 0.0% |
| Financial debts | 170/4 | €301,778 | €301,692 | -€86 | 0.0% |
| Amounts payable within one year | 42/48 | €141,598 | €169,833 | +€28,235 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €37,661 | €44,163 | +€6,502 | +17.3% |
| Trade debts | 44 | €7,421 | €2,180 | -€5,242 | -70.6% |
| Suppliers | 440/4 | €7,421 | €2,180 | -€5,242 | -70.6% |
| Taxes, remuneration and social security | 45 | €27,388 | €32,703 | +€5,316 | +19.4% |
| Taxes | 450/3 | €4,388 | €7,113 | +€2,725 | +62.1% |
| Remuneration and social security | 454/9 | €23,000 | €25,590 | +€2,590 | +11.3% |
| Other amounts payable | 47/48 | €69,128 | €90,786 | +€21,658 | +31.3% |
| Accrued charges and deferred income | 492/3 | - | €180 | +€180 | |
| Remuneration, social security and pensions | 62 | €1,797 | - | -€1,797 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,784 | €66,264 | +€8,481 | +14.7% |
| Other operating charges | 640/8 | €3,272 | €3,449 | +€177 | +5.4% |
| Gross operating margin | 9900 | €131,520 | €60,818 | -€70,703 | -53.8% |
| Operating profit (loss) | 9901 | €68,668 | -€8,896 | -€77,563 | |
| Financial income | 75/76B | €24 | €28 | +€4 | +14.6% |
| Recurring financial income | 75 | €24 | €28 | +€4 | +14.6% |
| Financial charges | 65/66B | €3,369 | €1,119 | -€2,250 | -66.8% |
| Recurring financial charges | 65 | €3,369 | €1,119 | -€2,250 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €65,323 | -€9,987 | -€75,310 | |
| Transfer from deferred taxes | 780 | €869 | €869 | = | 0.0% |
| Transfer to deferred taxes | 680 | €11,095 | - | -€11,095 | |
| Profit (loss) for the period | 9904 | €55,098 | -€9,118 | -€64,215 | |
| Transfer from tax-exempt reserves | 789 | €2,608 | €2,608 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €33,284 | - | -€33,284 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,421 | -€6,509 | -€30,931 |
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 21 October 2026 via checked.be.