CODEVI: 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.
CODEVI
Largest movements
- Receivables within one year -€95,325
down €95,325 (-100.0%), from €95,361 to €36
of which Trade receivables: -€87,100
- Cash -€14,823
down €14,823 (-32.0%), from €46,261 to €31,438
mainly Debts after one year (-€79,850) and Tax, wage and social debts (-€36,461)
- Debts after one year -€79,850
down €79,850 (-60.3%), from €132,530 to €52,680
- Profit (loss) carried forward +€38,191
up €38,191 (+44.6%), from -€85,664 to -€47,473
- Tax, wage and social debts -€36,461
down €36,461 (-99.9%), from €36,482 to €21
of which Taxes: -€26,504
- Accrued charges and deferred income -€20,000
no longer reported in 2025 (was €20,000)
- Other debts -€10,820
down €10,820 (-79.2%), from €13,660 to €2,841
- Gross operating margin -€163,995
down €163,995 (-88.6%), from €185,017 to €21,022
- Staff costs -€58,765
down €58,765 (-96.3%), from €61,014 to €2,249
- Taxes -€51,008
down €51,008, from €26,468 to -€24,541
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 | €149,790 | €39,831 | -€109,959 | -73.4% |
| Fixed assets | 21/28 | €8,168 | €7,310 | -€858 | -10.5% |
| Tangible fixed assets | 22/27 | €8,168 | €7,310 | -€858 | -10.5% |
| Furniture and vehicles | 24 | €8,168 | €7,310 | -€858 | -10.5% |
| Current assets | 29/58 | €141,622 | €32,521 | -€109,101 | -77.0% |
| Amounts receivable within one year | 40/41 | €95,361 | €36 | -€95,325 | -100.0% |
| Trade receivables | 40 | €87,100 | - | -€87,100 | |
| Other amounts receivable | 41 | €8,261 | €36 | -€8,225 | -99.6% |
| Cash at bank and in hand | 54/58 | €46,261 | €31,438 | -€14,823 | -32.0% |
| Deferred charges and accrued income | 490/1 | - | €1,047 | +€1,047 | |
| Total equity and liabilities | 10/49 | €149,790 | €39,831 | -€109,959 | -73.4% |
| Equity | 10/15 | -€57,664 | -€19,473 | +€38,191 | +66.2% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,664 | -€47,473 | +€38,191 | +44.6% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €207,454 | €59,305 | -€148,150 | -71.4% |
| Amounts payable after more than one year | 17 | €132,530 | €52,680 | -€79,850 | -60.3% |
| Other amounts payable | 178/9 | €132,530 | €52,680 | -€79,850 | -60.3% |
| Amounts payable within one year | 42/48 | €54,924 | €6,624 | -€48,300 | -87.9% |
| Trade debts | 44 | €4,782 | €3,762 | -€1,020 | -21.3% |
| Suppliers | 440/4 | €4,782 | €2,877 | -€1,904 | -39.8% |
| Bills of exchange payable | 441 | - | €885 | +€885 | |
| Taxes, remuneration and social security | 45 | €36,482 | €21 | -€36,461 | -99.9% |
| Taxes | 450/3 | €26,525 | €21 | -€26,504 | -99.9% |
| Remuneration and social security | 454/9 | €9,957 | - | -€9,957 | |
| Other amounts payable | 47/48 | €13,660 | €2,841 | -€10,820 | -79.2% |
| Accrued charges and deferred income | 492/3 | €20,000 | - | -€20,000 | |
| Remuneration, social security and pensions | 62 | €61,014 | €2,249 | -€58,765 | -96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,535 | €3,667 | +€132 | +3.7% |
| Other operating charges | 640/8 | €1,996 | €850 | -€1,146 | -57.4% |
| Gross operating margin | 9900 | €185,017 | €21,022 | -€163,995 | -88.6% |
| Operating profit (loss) | 9901 | €118,472 | €14,256 | -€104,216 | -88.0% |
| Financial income | 75/76B | €32 | €21 | -€11 | -35.0% |
| Recurring financial income | 75 | €32 | €21 | -€11 | -35.0% |
| Financial charges | 65/66B | €2,019 | €626 | -€1,393 | -69.0% |
| Recurring financial charges | 65 | €2,019 | €626 | -€1,393 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €116,485 | €13,650 | -€102,835 | -88.3% |
| Income taxes | 67/77 | €26,468 | -€24,541 | -€51,008 | |
| Profit (loss) for the period | 9904 | €90,017 | €38,191 | -€51,826 | -57.6% |
| Profit (loss) for the period to be appropriated | 9905 | €90,017 | €38,191 | -€51,826 | -57.6% |
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 7 October 2026 via checked.be.