"CoDoBau": 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.
"CoDoBau"
Largest movements
- Receivables within one year -€76,152
down €76,152 (-86.5%), from €88,005 to €11,853
of which Trade receivables: -€74,098
- Cash -€12,654
down €12,654 (-68.7%), from €18,422 to €5,767
mainly Trade debts (-€62,927) and Debts after one year (-€12,406)
- Tangible fixed assets -€12,409
down €12,409 (-23.9%), from €51,824 to €39,415
- Trade debts -€62,927
down €62,927 (-95.8%), from €65,676 to €2,749
- Debts after one year -€12,406
down €12,406 (-40.1%), from €30,953 to €18,548
- Advances received -€11,063
down €11,063 (-98.8%), from €11,193 to €130
- Other debts -€8,426
down €8,426 (-94.2%), from €8,945 to €519
- Tax, wage and social debts -€4,756
down €4,756 (-37.4%), from €12,727 to €7,972
- Gross operating margin -€21,421
down €21,421 (-57.1%), from €37,548 to €16,127
- Taxes -€4,267
down €4,267 (-71.2%), from €5,995 to €1,729
- Depreciation +€3,917
up €3,917 (+46.1%), from €8,493 to €12,409
- Other operating charges -€886
down €886 (-56.1%), from €1,581 to €695
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 | €158,266 | €57,701 | -€100,565 | -63.5% |
| Fixed assets | 21/28 | €51,824 | €39,415 | -€12,409 | -23.9% |
| Tangible fixed assets | 22/27 | €51,824 | €39,415 | -€12,409 | -23.9% |
| Furniture and vehicles | 24 | €51,824 | €39,415 | -€12,409 | -23.9% |
| Current assets | 29/58 | €106,442 | €18,286 | -€88,155 | -82.8% |
| Amounts receivable within one year | 40/41 | €88,005 | €11,853 | -€76,152 | -86.5% |
| Trade receivables | 40 | €85,951 | €11,853 | -€74,098 | -86.2% |
| Other amounts receivable | 41 | €2,054 | €0 | -€2,054 | -100.0% |
| Cash at bank and in hand | 54/58 | €18,422 | €5,767 | -€12,654 | -68.7% |
| Deferred charges and accrued income | 490/1 | €16 | €666 | +€651 | +4186.7% |
| Total equity and liabilities | 10/49 | €158,266 | €57,701 | -€100,565 | -63.5% |
| Equity | 10/15 | €16,000 | €15,378 | -€622 | -3.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,000 | €9,378 | -€622 | -6.2% |
| Amounts payable | 17/49 | €142,266 | €42,323 | -€99,943 | -70.3% |
| Amounts payable after more than one year | 17 | €30,953 | €18,548 | -€12,406 | -40.1% |
| Financial debts | 170/4 | €30,953 | €18,548 | -€12,406 | -40.1% |
| Amounts payable within one year | 42/48 | €110,407 | €23,775 | -€86,631 | -78.5% |
| Current portion of amounts payable after more than one year | 42 | €11,865 | €12,406 | +€540 | +4.6% |
| Trade debts | 44 | €65,676 | €2,749 | -€62,927 | -95.8% |
| Suppliers | 440/4 | €65,676 | €2,749 | -€62,927 | -95.8% |
| Advances received on contracts in progress | 46 | €11,193 | €130 | -€11,063 | -98.8% |
| Taxes, remuneration and social security | 45 | €12,727 | €7,972 | -€4,756 | -37.4% |
| Taxes | 450/3 | €12,727 | €7,972 | -€4,756 | -37.4% |
| Other amounts payable | 47/48 | €8,945 | €519 | -€8,426 | -94.2% |
| Accrued charges and deferred income | 492/3 | €906 | €0 | -€906 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,493 | €12,409 | +€3,917 | +46.1% |
| Other operating charges | 640/8 | €1,581 | €695 | -€886 | -56.1% |
| Non-recurring operating charges | 66A | €862 | €0 | -€862 | -100.0% |
| Gross operating margin | 9900 | €37,548 | €16,127 | -€21,421 | -57.1% |
| Operating profit (loss) | 9901 | €26,612 | €3,022 | -€23,589 | -88.6% |
| Financial income | 75/76B | €49 | - | -€49 | |
| Recurring financial income | 75 | €49 | - | -€49 | |
| Financial charges | 65/66B | €1,724 | €1,916 | +€192 | +11.1% |
| Recurring financial charges | 65 | €1,724 | €1,916 | +€192 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €24,936 | €1,107 | -€23,829 | -95.6% |
| Income taxes | 67/77 | €5,995 | €1,729 | -€4,267 | -71.2% |
| Profit (loss) for the period | 9904 | €18,941 | -€622 | -€19,563 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,941 | -€622 | -€19,563 |
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 8 October 2026 via checked.be.