CODIGRAN: 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
CODIGRAN
NACE 46.120, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€38,083
2024 · -€9,782+€47,865
Equity
€29,979
2024 · -€8,104+€38,083
Cash
€11,972
2024 · €14,585-€2,613
Balance sheet total
€1.0m
2024 · €1.3m-€239,984
Largest movements
Assets
- Receivables within one year -€235,309
down €235,309 (-46.2%), from €509,436 to €274,127
of which Trade receivables: -€209,917
Equity and liabilities
- Trade debts -€316,773
down €316,773 (-42.8%), from €739,839 to €423,066
- Profit (loss) carried forward +€38,083
up €38,083, from -€28,564 to €9,519
- Short-term financial debts +€25,254
up €25,254 (+14.0%), from €180,990 to €206,244
Income statement
- Other operating charges -€31,043
down €31,043 (-76.2%), from €40,722 to €9,679
- Gross operating margin +€26,530
up €26,530 (+9.4%), from €281,122 to €307,652
- Financial charges -€11,894
down €11,894 (-17.3%), from €68,833 to €56,939
- Financial income -€11,345
down €11,345 (-98.2%), from €11,557 to €212
- Taxes +€8,231
up €8,231 (+199%), from €4,141 to €12,372
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.
Result 2024
-€9,782
Gross operating margin
+€26,530
Staff costs
+€3,163
Depreciation
-€5,189
Other operating charges
+€31,043
Financial income
-€11,345
Financial charges
+€11,894
Taxes
-€8,231
Result 2025
€38,083
raises the resultlowers the result
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.
From operations
-€26,725
Investment
-€7,571
Financing
+€31,683
Cash 2024
€14,585
From operations (derived)
-€26,725
Net result for the year
+€38,083
Depreciation
+€17,101
Stocks and contracts
-€6,132
Receivables within one year
+€235,309
Deferred charges and accrued income
-€1,336
Trade debts
-€316,773
Tax, wage and social debts
+€5,408
Other debts
+€75
Accrued charges and deferred income
+€1,540
Investment (derived)
-€7,571
Investment in fixed assets (net)
-€7,571
Financing
+€31,683
Debts after one year
-€3,410
Current portion of long-term debt
+€9,839
Short-term financial debts
+€25,254
Cash 2025
€11,972
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,275,524 | €1,035,540 | -€239,984 | -18.8% |
| Fixed assets | 21/28 | €142,722 | €133,192 | -€9,530 | -6.7% |
| Tangible fixed assets | 22/27 | €142,722 | €133,192 | -€9,530 | -6.7% |
| Plant, machinery and equipment | 23 | €140,681 | €127,601 | -€13,080 | -9.3% |
| Furniture and vehicles | 24 | - | €5,591 | +€5,591 | |
| Leasing and similar rights | 25 | €2,041 | - | -€2,041 | |
| Current assets | 29/58 | €1,132,802 | €902,348 | -€230,454 | -20.3% |
| Amounts receivable after more than one year | 29 | €282,050 | €282,050 | = | 0.0% |
| Other amounts receivable | 291 | €282,050 | €282,050 | = | 0.0% |
| Stocks and contracts in progress | 3 | €325,878 | €332,010 | +€6,132 | +1.9% |
| Stocks | 30/36 | €325,878 | €332,010 | +€6,132 | +1.9% |
| Amounts receivable within one year | 40/41 | €509,436 | €274,127 | -€235,309 | -46.2% |
| Trade receivables | 40 | €405,946 | €196,029 | -€209,917 | -51.7% |
| Other amounts receivable | 41 | €103,490 | €78,098 | -€25,392 | -24.5% |
| Cash at bank and in hand | 54/58 | €14,585 | €11,972 | -€2,613 | -17.9% |
| Deferred charges and accrued income | 490/1 | €853 | €2,189 | +€1,336 | +157% |
| Total equity and liabilities | 10/49 | €1,275,524 | €1,035,540 | -€239,984 | -18.8% |
| Equity | 10/15 | -€8,104 | €29,979 | +€38,083 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,564 | €9,519 | +€38,083 | |
| Amounts payable | 17/49 | €1,283,628 | €1,005,561 | -€278,067 | -21.7% |
| Amounts payable after more than one year | 17 | €137,798 | €134,388 | -€3,410 | -2.5% |
| Financial debts | 170/4 | €137,798 | €134,388 | -€3,410 | -2.5% |
| Amounts payable within one year | 42/48 | €1,145,830 | €869,633 | -€276,197 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €150,047 | €159,886 | +€9,839 | +6.6% |
| Financial debts | 43 | €180,990 | €206,244 | +€25,254 | +14.0% |
| Credit institutions | 430/8 | €180,990 | €206,244 | +€25,254 | +14.0% |
| Trade debts | 44 | €739,839 | €423,066 | -€316,773 | -42.8% |
| Suppliers | 440/4 | €739,839 | €423,066 | -€316,773 | -42.8% |
| Taxes, remuneration and social security | 45 | €74,954 | €80,362 | +€5,408 | +7.2% |
| Taxes | 450/3 | €40,232 | €45,821 | +€5,589 | +13.9% |
| Remuneration and social security | 454/9 | €34,722 | €34,541 | -€181 | -0.5% |
| Other amounts payable | 47/48 | - | €75 | +€75 | |
| Accrued charges and deferred income | 492/3 | - | €1,540 | +€1,540 | |
| Non-recurring operating income | 76A | - | €11,570 | +€11,570 | |
| Remuneration, social security and pensions | 62 | €176,853 | €173,690 | -€3,163 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,912 | €17,101 | +€5,189 | +43.6% |
| Other operating charges | 640/8 | €40,722 | €9,679 | -€31,043 | -76.2% |
| Gross operating margin | 9900 | €281,122 | €307,652 | +€26,530 | +9.4% |
| Operating profit (loss) | 9901 | €51,635 | €107,182 | +€55,547 | +108% |
| Financial income | 75/76B | €11,557 | €212 | -€11,345 | -98.2% |
| Recurring financial income | 75 | €11,557 | €212 | -€11,345 | -98.2% |
| Financial charges | 65/66B | €68,833 | €56,939 | -€11,894 | -17.3% |
| Recurring financial charges | 65 | €68,833 | €56,939 | -€11,894 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,641 | €50,455 | +€56,096 | |
| Income taxes | 67/77 | €4,141 | €12,372 | +€8,231 | +199% |
| Profit (loss) for the period | 9904 | -€9,782 | €38,083 | +€47,865 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,782 | €38,083 | +€47,865 |
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 15 October 2026 via checked.be.