CODIMAX: 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.
CODIMAX
Largest movements
- Receivables within one year -€16,487
down €16,487 (-29.9%), from €55,231 to €38,744
of which Other amounts receivable: -€14,061
- Stocks and contracts -€11,255
down €11,255 (-27.1%), from €41,522 to €30,267
- Cash +€3,782
up €3,782 (+1178.2%), from €321 to €4,103
mainly Receivables within one year (+€16,487) and Other debts (+€14,635)
- Tangible fixed assets +€2,790
up €2,790 (+18.1%), from €15,448 to €18,238
of which Plant, machinery and equipment: +€3,366
- Short-term financial debts -€45,388
down €45,388 (-69.1%), from €65,675 to €20,287
- Other debts +€14,635
new in 2025: €14,635
- Profit (loss) carried forward +€10,154
up €10,154 (+15.7%), from -€64,481 to -€54,327
- Current portion of long-term debt -€1,763
down €1,763 (-8.5%), from €20,833 to €19,071
- Tax, wage and social debts +€1,700
up €1,700 (+33.5%), from €5,075 to €6,775
of which Taxes: +€1,519
- Gross operating margin +€12,171
up €12,171 (+21.8%), from €55,731 to €67,902
- Staff costs +€1,503
up €1,503 (+4.0%), from €38,028 to €39,531
- Depreciation +€1,295
up €1,295 (+15.5%), from €8,352 to €9,646
- Financial charges -€1,252
down €1,252 (-12.8%), from €9,798 to €8,546
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 | €132,486 | €111,084 | -€21,403 | -16.2% |
| Fixed assets | 21/28 | €34,891 | €37,252 | +€2,362 | +6.8% |
| Intangible fixed assets | 21 | €19,080 | €18,651 | -€429 | -2.2% |
| Tangible fixed assets | 22/27 | €15,448 | €18,238 | +€2,790 | +18.1% |
| Plant, machinery and equipment | 23 | €14,792 | €18,158 | +€3,366 | +22.8% |
| Furniture and vehicles | 24 | €656 | €80 | -€575 | -87.7% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €97,596 | €73,832 | -€23,764 | -24.3% |
| Stocks and contracts in progress | 3 | €41,522 | €30,267 | -€11,255 | -27.1% |
| Stocks | 30/36 | €41,522 | €30,267 | -€11,255 | -27.1% |
| Amounts receivable within one year | 40/41 | €55,231 | €38,744 | -€16,487 | -29.9% |
| Trade receivables | 40 | €39,014 | €36,589 | -€2,425 | -6.2% |
| Other amounts receivable | 41 | €16,216 | €2,155 | -€14,061 | -86.7% |
| Cash at bank and in hand | 54/58 | €321 | €4,103 | +€3,782 | +1178.2% |
| Deferred charges and accrued income | 490/1 | €522 | €718 | +€196 | +37.5% |
| Total equity and liabilities | 10/49 | €132,486 | €111,084 | -€21,403 | -16.2% |
| Equity | 10/15 | €5,194 | €14,914 | +€9,720 | +187.1% |
| Contributions | 10/11 | €66,200 | €66,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,481 | -€54,327 | +€10,154 | +15.7% |
| Investment grants | 15 | €3,475 | €3,040 | -€434 | -12.5% |
| Amounts payable | 17/49 | €127,292 | €96,170 | -€31,122 | -24.4% |
| Amounts payable after more than one year | 17 | €8,333 | €9,199 | +€866 | +10.4% |
| Financial debts | 170/4 | €8,333 | €9,199 | +€866 | +10.4% |
| Amounts payable within one year | 42/48 | €116,996 | €86,070 | -€30,926 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €20,833 | €19,071 | -€1,763 | -8.5% |
| Financial debts | 43 | €65,675 | €20,287 | -€45,388 | -69.1% |
| Credit institutions | 430/8 | €65,675 | €20,287 | -€45,388 | -69.1% |
| Trade debts | 44 | €25,412 | €25,303 | -€110 | -0.4% |
| Suppliers | 440/4 | €25,412 | €25,303 | -€110 | -0.4% |
| Taxes, remuneration and social security | 45 | €5,075 | €6,775 | +€1,700 | +33.5% |
| Taxes | 450/3 | - | €1,519 | +€1,519 | |
| Remuneration and social security | 454/9 | €5,075 | €5,256 | +€182 | +3.6% |
| Other amounts payable | 47/48 | - | €14,635 | +€14,635 | |
| Accrued charges and deferred income | 492/3 | €1,963 | €901 | -€1,063 | -54.1% |
| Remuneration, social security and pensions | 62 | €38,028 | €39,531 | +€1,503 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,352 | €9,646 | +€1,295 | +15.5% |
| Other operating charges | 640/8 | €387 | €460 | +€72 | +18.7% |
| Gross operating margin | 9900 | €55,731 | €67,902 | +€12,171 | +21.8% |
| Operating profit (loss) | 9901 | €8,965 | €18,265 | +€9,301 | +103.7% |
| Financial income | 75/76B | €870 | €434 | -€436 | -50.1% |
| Recurring financial income | 75 | €870 | €434 | -€436 | -50.1% |
| Financial charges | 65/66B | €9,798 | €8,546 | -€1,252 | -12.8% |
| Recurring financial charges | 65 | €9,798 | €8,546 | -€1,252 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €37 | €10,154 | +€10,117 | +27335.9% |
| Profit (loss) for the period | 9904 | €37 | €10,154 | +€10,117 | +27335.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37 | €10,154 | +€10,117 | +27335.9% |
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 29 September 2026 via checked.be.