CODIVER: 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.
CODIVER
Largest movements
- Cash -€36,579
down €36,579 (-25.8%), from €141,984 to €105,405
mainly Contributions, distributions and other (-€64,766) and Tax, wage and social debts (-€18,203)
- Tangible fixed assets +€5,019
up €5,019 (+94.3%), from €5,322 to €10,341
of which Furniture and vehicles: +€3,269
- Receivables within one year +€4,271
up €4,271 (+20.6%), from €20,781 to €25,051
of which Other amounts receivable: +€5,733
- Tax, wage and social debts -€18,203
down €18,203 (-41.7%), from €43,648 to €25,445
of which Taxes: -€18,221
- Reserves -€10,285
down €10,285 (-8.6%), from €119,945 to €109,660
- Gross operating margin -€11,773
down €11,773 (-13.7%), from €85,787 to €74,014
- Taxes -€2,690
down €2,690 (-15.9%), from €16,957 to €14,267
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 | €170,064 | €142,203 | -€27,861 | -16.4% |
| Fixed assets | 21/28 | €5,322 | €10,341 | +€5,019 | +94.3% |
| Tangible fixed assets | 22/27 | €5,322 | €10,341 | +€5,019 | +94.3% |
| Plant, machinery and equipment | 23 | €1,266 | €3,016 | +€1,750 | +138% |
| Furniture and vehicles | 24 | €4,057 | €7,325 | +€3,269 | +80.6% |
| Current assets | 29/58 | €164,742 | €131,862 | -€32,880 | -20.0% |
| Amounts receivable within one year | 40/41 | €20,781 | €25,051 | +€4,271 | +20.6% |
| Trade receivables | 40 | €17,435 | €15,972 | -€1,463 | -8.4% |
| Other amounts receivable | 41 | €3,346 | €9,079 | +€5,733 | +171% |
| Cash at bank and in hand | 54/58 | €141,984 | €105,405 | -€36,579 | -25.8% |
| Deferred charges and accrued income | 490/1 | €1,977 | €1,406 | -€571 | -28.9% |
| Total equity and liabilities | 10/49 | €170,064 | €142,203 | -€27,861 | -16.4% |
| Equity | 10/15 | €124,945 | €114,660 | -€10,285 | -8.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €119,945 | €109,660 | -€10,285 | -8.6% |
| Distributable reserves | 133 | €119,945 | €109,660 | -€10,285 | -8.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €45,119 | €27,543 | -€17,576 | -39.0% |
| Amounts payable within one year | 42/48 | €45,119 | €27,543 | -€17,576 | -39.0% |
| Trade debts | 44 | €1,471 | €2,098 | +€627 | +42.6% |
| Suppliers | 440/4 | €1,471 | €2,098 | +€627 | +42.6% |
| Taxes, remuneration and social security | 45 | €43,648 | €25,445 | -€18,203 | -41.7% |
| Taxes | 450/3 | €41,477 | €23,256 | -€18,221 | -43.9% |
| Remuneration and social security | 454/9 | €2,171 | €2,189 | +€18 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,427 | €2,686 | +€260 | +10.7% |
| Other operating charges | 640/8 | €204 | €607 | +€404 | +198% |
| Non-recurring operating charges | 66A | - | €813 | +€813 | |
| Gross operating margin | 9900 | €85,787 | €74,014 | -€11,773 | -13.7% |
| Operating profit (loss) | 9901 | €83,157 | €69,908 | -€13,249 | -15.9% |
| Financial income | 75/76B | €2 | €2 | -€1 | -25.4% |
| Recurring financial income | 75 | €2 | €2 | -€1 | -25.4% |
| Financial charges | 65/66B | €1,437 | €1,162 | -€274 | -19.1% |
| Recurring financial charges | 65 | €1,437 | €1,162 | -€274 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €81,722 | €68,747 | -€12,975 | -15.9% |
| Income taxes | 67/77 | €16,957 | €14,267 | -€2,690 | -15.9% |
| Profit (loss) for the period | 9904 | €64,766 | €54,481 | -€10,285 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,766 | €54,481 | -€10,285 | -15.9% |
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 18 October 2026 via checked.be.