CODEVID: 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.
CODEVID
Largest movements
- Cash -€165,633
down €165,633 (-67.8%), from €244,153 to €78,520
mainly Net result for the year (-€576,329) and Accrued charges and deferred income (-€110,975)
- Receivables within one year -€104,775
down €104,775 (-10.1%), from €1.0m to €927,927
of which Trade receivables: -€291,531
- Tangible fixed assets -€67,844
down €67,844 (-21.7%), from €312,953 to €245,109
of which Furniture and vehicles: -€64,209
- Deferred charges and accrued income -€56,607
down €56,607 (-56.1%), from €100,946 to €44,338
- Reserves -€513,973
down €513,973 (-99.8%), from €514,966 to €993
of which Distributable reserves: -€513,973
- Short-term financial debts +€400,000
up €400,000 (+400%), from €100,000 to €500,000
- Accrued charges and deferred income -€110,975
down €110,975 (-89.9%), from €123,394 to €12,419
- Trade debts +€97,960
up €97,960 (+29.4%), from €333,604 to €431,564
- Other debts -€89,703
no longer reported in 2025 (was €89,703)
- Gross operating margin -€1.0m
down €1.0m (-55.2%), from €1.9m to €843,605
- Financial income +€208,460
up €208,460 (+8,165%), from €2,553 to €211,013
- Staff costs -€206,372
down €206,372 (-13.3%), from €1.5m to €1.3m
- Write-downs +€101,562
up €101,562 (+259%), from €39,186 to €140,748
- Taxes -€48,747
down €48,747 (-93.0%), from €52,388 to €3,642
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.
Derived cash bridge
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 | €1,983,703 | €1,585,344 | -€398,359 | -20.1% |
| Fixed assets | 21/28 | €605,903 | €534,559 | -€71,344 | -11.8% |
| Intangible fixed assets | 21 | €23,834 | €20,334 | -€3,500 | -14.7% |
| Tangible fixed assets | 22/27 | €312,953 | €245,109 | -€67,844 | -21.7% |
| Furniture and vehicles | 24 | €309,317 | €245,109 | -€64,209 | -20.8% |
| Other tangible fixed assets | 26 | €3,636 | - | -€3,636 | |
| Financial fixed assets | 28 | €269,116 | €269,116 | = | 0.0% |
| Current assets | 29/58 | €1,377,800 | €1,050,785 | -€327,015 | -23.7% |
| Amounts receivable within one year | 40/41 | €1,032,702 | €927,927 | -€104,775 | -10.1% |
| Trade receivables | 40 | €858,473 | €566,943 | -€291,531 | -34.0% |
| Other amounts receivable | 41 | €174,228 | €360,984 | +€186,756 | +107% |
| Cash at bank and in hand | 54/58 | €244,153 | €78,520 | -€165,633 | -67.8% |
| Deferred charges and accrued income | 490/1 | €100,946 | €44,338 | -€56,607 | -56.1% |
| Total equity and liabilities | 10/49 | €1,983,703 | €1,585,344 | -€398,359 | -20.1% |
| Equity | 10/15 | €592,154 | €15,825 | -€576,329 | -97.3% |
| Contributions | 10/11 | €77,188 | €77,188 | = | 0.0% |
| Reserves | 13 | €514,966 | €993 | -€513,973 | -99.8% |
| Tax-exempt reserves | 132 | €993 | €993 | = | 0.0% |
| Distributable reserves | 133 | €513,973 | - | -€513,973 | |
| Profit (loss) carried forward | 14 | - | -€62,356 | -€62,356 | |
| Amounts payable | 17/49 | €1,391,549 | €1,569,519 | +€177,970 | +12.8% |
| Amounts payable after more than one year | 17 | €319,126 | €304,253 | -€14,872 | -4.7% |
| Financial debts | 170/4 | €319,126 | €304,253 | -€14,872 | -4.7% |
| Amounts payable within one year | 42/48 | €949,029 | €1,252,846 | +€303,817 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €182,476 | €131,438 | -€51,038 | -28.0% |
| Financial debts | 43 | €100,000 | €500,000 | +€400,000 | +400% |
| Credit institutions | 430/8 | €100,000 | €500,000 | +€400,000 | +400% |
| Trade debts | 44 | €333,604 | €431,564 | +€97,960 | +29.4% |
| Suppliers | 440/4 | €333,604 | €431,564 | +€97,960 | +29.4% |
| Taxes, remuneration and social security | 45 | €243,246 | €189,844 | -€53,402 | -22.0% |
| Taxes | 450/3 | €80,324 | €51,992 | -€28,331 | -35.3% |
| Remuneration and social security | 454/9 | €162,922 | €137,852 | -€25,071 | -15.4% |
| Other amounts payable | 47/48 | €89,703 | - | -€89,703 | |
| Accrued charges and deferred income | 492/3 | €123,394 | €12,419 | -€110,975 | -89.9% |
| Remuneration, social security and pensions | 62 | €1,547,040 | €1,340,668 | -€206,372 | -13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,943 | €100,329 | -€8,614 | -7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €39,186 | €140,748 | +€101,562 | +259% |
| Other operating charges | 640/8 | €9,066 | €12,550 | +€3,484 | +38.4% |
| Gross operating margin | 9900 | €1,883,109 | €843,605 | -€1.0m | -55.2% |
| Operating profit (loss) | 9901 | €178,874 | -€750,690 | -€929,563 | |
| Financial income | 75/76B | €2,553 | €211,013 | +€208,460 | +8,165% |
| Recurring financial income | 75 | €2,553 | €211,013 | +€208,460 | +8,165% |
| Financial charges | 65/66B | €39,411 | €33,010 | -€6,402 | -16.2% |
| Recurring financial charges | 65 | €39,411 | €33,010 | -€6,402 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €142,015 | -€572,687 | -€714,702 | |
| Income taxes | 67/77 | €52,388 | €3,642 | -€48,747 | -93.0% |
| Profit (loss) for the period | 9904 | €89,627 | -€576,329 | -€665,955 | |
| Profit (loss) for the period to be appropriated | 9905 | €89,627 | -€576,329 | -€665,955 |
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 17 October 2026 via checked.be.