CODIVA: 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.
CODIVA
Largest movements
- Tangible fixed assets -€63,149
no longer reported in 2025 (was €63,149)
- Cash -€9,258
down €9,258 (-51.6%), from €17,952 to €8,694
mainly Debts after one year (-€35,804) and Trade debts (-€32,289)
- Receivables within one year +€4,419
up €4,419 (+130.8%), from €3,380 to €7,799
of which Other amounts receivable: +€4,573
- Debts after one year -€35,804
down €35,804 (-39.0%), from €91,782 to €55,978
- Trade debts -€32,289
down €32,289 (-38.2%), from €84,540 to €52,251
- Reserves +€22,585
up €22,585 (+22.3%), from €101,141 to €123,725
- Other debts -€12,519
down €12,519 (-12.4%), from €101,057 to €88,538
- Tax, wage and social debts -€5,669
down €5,669 (-58.1%), from €9,758 to €4,090
- Gross operating margin -€14,465
down €14,465 (-32.4%), from €44,676 to €30,211
- Financial income +€12,433
new in 2025: €12,433
- Other operating charges +€11,319
up €11,319 (+2144.4%), from €528 to €11,847
- Depreciation -€7,017
no longer reported in 2025 (was €7,017)
- Taxes -€6,232
no longer reported in 2025 (was €6,232)
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 | €402,157 | €336,984 | -€65,173 | -16.2% |
| Fixed assets | 21/28 | €63,149 | - | -€63,149 | |
| Tangible fixed assets | 22/27 | €63,149 | - | -€63,149 | |
| Furniture and vehicles | 24 | €63,149 | - | -€63,149 | |
| Current assets | 29/58 | €339,008 | €336,984 | -€2,024 | -0.6% |
| Stocks and contracts in progress | 3 | €317,676 | €320,491 | +€2,815 | +0.9% |
| Stocks | 30/36 | €317,676 | €320,491 | +€2,815 | +0.9% |
| Amounts receivable within one year | 40/41 | €3,380 | €7,799 | +€4,419 | +130.8% |
| Trade receivables | 40 | €2,953 | €2,799 | -€154 | -5.2% |
| Other amounts receivable | 41 | €427 | €5,000 | +€4,573 | +1071.9% |
| Cash at bank and in hand | 54/58 | €17,952 | €8,694 | -€9,258 | -51.6% |
| Total equity and liabilities | 10/49 | €402,157 | €336,984 | -€65,173 | -16.2% |
| Equity | 10/15 | €113,543 | €136,128 | +€22,585 | +19.9% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €101,141 | €123,725 | +€22,585 | +22.3% |
| Distributable reserves | 133 | €101,141 | €123,725 | +€22,585 | +22.3% |
| Amounts payable | 17/49 | €288,613 | €200,856 | -€87,757 | -30.4% |
| Amounts payable after more than one year | 17 | €91,782 | €55,978 | -€35,804 | -39.0% |
| Financial debts | 170/4 | €91,782 | €55,978 | -€35,804 | -39.0% |
| Amounts payable within one year | 42/48 | €195,355 | €144,878 | -€50,477 | -25.8% |
| Trade debts | 44 | €84,540 | €52,251 | -€32,289 | -38.2% |
| Suppliers | 440/4 | €84,540 | €52,251 | -€32,289 | -38.2% |
| Taxes, remuneration and social security | 45 | €9,758 | €4,090 | -€5,669 | -58.1% |
| Taxes | 450/3 | €9,758 | €4,090 | -€5,669 | -58.1% |
| Other amounts payable | 47/48 | €101,057 | €88,538 | -€12,519 | -12.4% |
| Accrued charges and deferred income | 492/3 | €1,476 | - | -€1,476 | |
| Remuneration, social security and pensions | 62 | €1,328 | €1,236 | -€92 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,017 | - | -€7,017 | |
| Other operating charges | 640/8 | €528 | €11,847 | +€11,319 | +2144.4% |
| Gross operating margin | 9900 | €44,676 | €30,211 | -€14,465 | -32.4% |
| Operating profit (loss) | 9901 | €35,803 | €17,128 | -€18,675 | -52.2% |
| Financial income | 75/76B | - | €12,433 | +€12,433 | |
| Recurring financial income | 75 | - | €12,433 | +€12,433 | |
| Financial charges | 65/66B | €1,600 | €6,977 | +€5,377 | +336.0% |
| Recurring financial charges | 65 | €1,600 | €6,977 | +€5,377 | +336.0% |
| Profit (loss) for the period before taxes | 9903 | €34,203 | €22,585 | -€11,618 | -34.0% |
| Income taxes | 67/77 | €6,232 | - | -€6,232 | |
| Profit (loss) for the period | 9904 | €27,971 | €22,585 | -€5,386 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,971 | €22,585 | -€5,386 | -19.3% |
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 30 September 2026 via checked.be.