CODIF MEDIA: 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.
CODIF MEDIA
Largest movements
- Cash -€16,248
down €16,248 (-33.6%), from €48,335 to €32,087
mainly Advances received (-€19,576) and Investment in fixed assets (net) (-€15,800)
- Receivables within one year -€6,775
down €6,775 (-7.4%), from €92,167 to €85,391
of which Trade receivables: -€7,915
- Intangible fixed assets +€3,741
new in 2025: €3,741
- Tangible fixed assets +€1,714
up €1,714 (+8.7%), from €19,752 to €21,466
- Trade debts +€23,996
up €23,996 (+904%), from €2,653 to €26,649
- Advances received -€19,576
down €19,576 (-91.6%), from €21,368 to €1,792
- Profit (loss) carried forward -€15,190
down €15,190 (-18.5%), from €81,911 to €66,722
- Other debts -€5,718
down €5,718 (-36.0%), from €15,888 to €10,170
- Gross operating margin +€12,098
up €12,098, from -€10,001 to €2,098
- Depreciation +€7,897
up €7,897 (+323%), from €2,448 to €10,345
- Other operating charges +€1,360
up €1,360 (+120%), from €1,134 to €2,494
- Financial income +€704
new in 2025: €704
- Financial charges +€110
up €110 (+16.9%), from €650 to €759
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 | €161,634 | €144,725 | -€16,909 | -10.5% |
| Fixed assets | 21/28 | €21,132 | €26,587 | +€5,455 | +25.8% |
| Intangible fixed assets | 21 | - | €3,741 | +€3,741 | |
| Tangible fixed assets | 22/27 | €19,752 | €21,466 | +€1,714 | +8.7% |
| Plant, machinery and equipment | 23 | €19,752 | €21,466 | +€1,714 | +8.7% |
| Financial fixed assets | 28 | €1,380 | €1,380 | = | 0.0% |
| Current assets | 29/58 | €140,502 | €118,138 | -€22,364 | -15.9% |
| Amounts receivable within one year | 40/41 | €92,167 | €85,391 | -€6,775 | -7.4% |
| Trade receivables | 40 | €86,556 | €78,642 | -€7,915 | -9.1% |
| Other amounts receivable | 41 | €5,611 | €6,750 | +€1,139 | +20.3% |
| Cash at bank and in hand | 54/58 | €48,335 | €32,087 | -€16,248 | -33.6% |
| Deferred charges and accrued income | 490/1 | - | €659 | +€659 | |
| Total equity and liabilities | 10/49 | €161,634 | €144,725 | -€16,909 | -10.5% |
| Equity | 10/15 | €121,121 | €105,932 | -€15,190 | -12.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Contributions outside capital | 11 | €20,460 | - | -€20,460 | |
| Other | 1109/19 | €20,460 | - | -€20,460 | |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,911 | €66,722 | -€15,190 | -18.5% |
| Amounts payable | 17/49 | €40,512 | €38,793 | -€1,719 | -4.2% |
| Amounts payable within one year | 42/48 | €40,512 | €38,793 | -€1,719 | -4.2% |
| Trade debts | 44 | €2,653 | €26,649 | +€23,996 | +904% |
| Suppliers | 440/4 | €2,653 | €26,649 | +€23,996 | +904% |
| Advances received on contracts in progress | 46 | €21,368 | €1,792 | -€19,576 | -91.6% |
| Taxes, remuneration and social security | 45 | €603 | €182 | -€421 | -69.8% |
| Taxes | 450/3 | €603 | €182 | -€421 | -69.8% |
| Other amounts payable | 47/48 | €15,888 | €10,170 | -€5,718 | -36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,448 | €10,345 | +€7,897 | +323% |
| Other operating charges | 640/8 | €1,134 | €2,494 | +€1,360 | +120% |
| Non-recurring operating charges | 66A | - | €4,371 | +€4,371 | |
| Gross operating margin | 9900 | -€10,001 | €2,098 | +€12,098 | |
| Operating profit (loss) | 9901 | -€13,583 | -€15,112 | -€1,529 | -11.3% |
| Financial income | 75/76B | - | €704 | +€704 | |
| Recurring financial income | 75 | - | €704 | +€704 | |
| Financial charges | 65/66B | €650 | €759 | +€110 | +16.9% |
| Recurring financial charges | 65 | €650 | €759 | +€110 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,233 | -€15,168 | -€935 | -6.6% |
| Income taxes | 67/77 | €67 | €22 | -€45 | -67.3% |
| Profit (loss) for the period | 9904 | -€14,300 | -€15,190 | -€890 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,300 | -€15,190 | -€890 | -6.2% |
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 1 November 2026 via checked.be.