Codivex: 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.
Codivex
Largest movements
- Receivables within one year -€79,795
down €79,795 (-31.6%), from €252,863 to €173,068
of which Other amounts receivable: -€67,275
- Cash +€67,560
up €67,560 (+90.0%), from €75,033 to €142,592
mainly Receivables within one year (+€79,795) and Net result for the year (+€54,034)
- Stocks and contracts -€35,830
down €35,830 (-20.9%), from €171,217 to €135,386
- Tangible fixed assets -€19,976
down €19,976 (-20.0%), from €99,637 to €79,662
- Reserves -€100,000
down €100,000 (-18.2%), from €547,987 to €447,987
- Profit (loss) carried forward +€54,034
up €54,034, from -€19,916 to €34,118
- Tax, wage and social debts -€27,954
down €27,954 (-71.2%), from €39,286 to €11,332
- Trade debts +€10,180
up €10,180 (+170.9%), from €5,958 to €16,138
- Gross operating margin -€5,944
down €5,944 (-5.9%), from €101,336 to €95,393
- Financial charges -€3,405
down €3,405 (-65.8%), from €5,174 to €1,770
- Depreciation -€1,919
down €1,919 (-8.8%), from €21,895 to €19,976
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 | €598,750 | €536,636 | -€62,113 | -10.4% |
| Fixed assets | 21/28 | €99,637 | €79,662 | -€19,976 | -20.0% |
| Tangible fixed assets | 22/27 | €99,637 | €79,662 | -€19,976 | -20.0% |
| Land and buildings | 22 | €78,750 | €69,000 | -€9,750 | -12.4% |
| Plant, machinery and equipment | 23 | €5,747 | €4,065 | -€1,682 | -29.3% |
| Furniture and vehicles | 24 | €13,559 | €5,419 | -€8,141 | -60.0% |
| Other tangible fixed assets | 26 | €1,581 | €1,178 | -€403 | -25.5% |
| Current assets | 29/58 | €499,112 | €456,975 | -€42,138 | -8.4% |
| Stocks and contracts in progress | 3 | €171,217 | €135,386 | -€35,830 | -20.9% |
| Stocks | 30/36 | €171,217 | €135,386 | -€35,830 | -20.9% |
| Amounts receivable within one year | 40/41 | €252,863 | €173,068 | -€79,795 | -31.6% |
| Trade receivables | 40 | €171,569 | €159,049 | -€12,520 | -7.3% |
| Other amounts receivable | 41 | €81,294 | €14,019 | -€67,275 | -82.8% |
| Cash at bank and in hand | 54/58 | €75,033 | €142,592 | +€67,560 | +90.0% |
| Deferred charges and accrued income | 490/1 | - | €5,928 | +€5,928 | |
| Total equity and liabilities | 10/49 | €598,750 | €536,636 | -€62,113 | -10.4% |
| Equity | 10/15 | €550,072 | €504,105 | -€45,966 | -8.4% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €547,987 | €447,987 | -€100,000 | -18.2% |
| Distributable reserves | 133 | €547,987 | €447,987 | -€100,000 | -18.2% |
| Profit (loss) carried forward | 14 | -€19,916 | €34,118 | +€54,034 | |
| Amounts payable | 17/49 | €48,678 | €32,531 | -€16,147 | -33.2% |
| Amounts payable within one year | 42/48 | €48,678 | €32,531 | -€16,147 | -33.2% |
| Current portion of amounts payable after more than one year | 42 | €3,426 | - | -€3,426 | |
| Financial debts | 43 | - | €5,060 | +€5,060 | |
| Credit institutions | 430/8 | - | €5,060 | +€5,060 | |
| Trade debts | 44 | €5,958 | €16,138 | +€10,180 | +170.9% |
| Suppliers | 440/4 | €5,958 | €16,138 | +€10,180 | +170.9% |
| Taxes, remuneration and social security | 45 | €39,286 | €11,332 | -€27,954 | -71.2% |
| Taxes | 450/3 | €39,286 | €11,332 | -€27,954 | -71.2% |
| Other amounts payable | 47/48 | €8 | - | -€8 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,895 | €19,976 | -€1,919 | -8.8% |
| Other operating charges | 640/8 | €2,649 | €2,102 | -€547 | -20.7% |
| Gross operating margin | 9900 | €101,336 | €95,393 | -€5,944 | -5.9% |
| Operating profit (loss) | 9901 | €76,792 | €73,315 | -€3,477 | -4.5% |
| Financial income | 75/76B | €1,608 | €663 | -€945 | -58.8% |
| Recurring financial income | 75 | €1,608 | €663 | -€945 | -58.8% |
| Financial charges | 65/66B | €5,174 | €1,770 | -€3,405 | -65.8% |
| Recurring financial charges | 65 | €5,174 | €1,770 | -€3,405 | -65.8% |
| Profit (loss) for the period before taxes | 9903 | €73,225 | €72,208 | -€1,017 | -1.4% |
| Income taxes | 67/77 | €18,640 | €18,175 | -€466 | -2.5% |
| Profit (loss) for the period | 9904 | €54,585 | €54,034 | -€552 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,585 | €54,034 | -€552 | -1.0% |
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.