CODOMAX: 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.
CODOMAX
Largest movements
- Receivables within one year +€33,777
up €33,777 (+18.5%), from €182,564 to €216,341
of which Trade receivables: +€24,402
- Tangible fixed assets -€5,861
down €5,861 (-65.9%), from €8,888 to €3,028
of which Plant, machinery and equipment: -€5,328
- Deferred charges and accrued income -€4,023
down €4,023 (-51.5%), from €7,811 to €3,788
- Reserves +€32,782
new in 2025: €32,782
- Trade debts -€31,220
down €31,220 (-27.7%), from €112,904 to €81,684
- Tax, wage and social debts +€20,910
up €20,910 (+382.5%), from €5,467 to €26,377
of which Taxes: +€16,081
- Gross operating margin +€32,175
up €32,175 (+169.6%), from €18,974 to €51,149
- Taxes +€9,949
up €9,949 (+180.9%), from €5,500 to €15,449
- Financial income +€3,600
up €3,600 (+7199580.0%), from €0 to €3,600
- Depreciation -€514
down €514 (-8.1%), from €6,375 to €5,860
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 | €218,510 | €240,912 | +€22,402 | +10.3% |
| Fixed assets | 21/28 | €9,488 | €3,628 | -€5,861 | -61.8% |
| Tangible fixed assets | 22/27 | €8,888 | €3,028 | -€5,861 | -65.9% |
| Plant, machinery and equipment | 23 | €7,814 | €2,487 | -€5,328 | -68.2% |
| Furniture and vehicles | 24 | €1,074 | €541 | -€533 | -49.6% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €209,021 | €237,284 | +€28,263 | +13.5% |
| Amounts receivable within one year | 40/41 | €182,564 | €216,341 | +€33,777 | +18.5% |
| Trade receivables | 40 | €129,654 | €154,056 | +€24,402 | +18.8% |
| Other amounts receivable | 41 | €52,910 | €62,285 | +€9,375 | +17.7% |
| Cash at bank and in hand | 54/58 | €18,646 | €17,154 | -€1,492 | -8.0% |
| Deferred charges and accrued income | 490/1 | €7,811 | €3,788 | -€4,023 | -51.5% |
| Total equity and liabilities | 10/49 | €218,510 | €240,912 | +€22,402 | +10.3% |
| Equity | 10/15 | €100,069 | €132,851 | +€32,782 | +32.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | - | €32,782 | +€32,782 | |
| Distributable reserves | 133 | - | €32,782 | +€32,782 | |
| Profit (loss) carried forward | 14 | €93,069 | €93,069 | = | 0.0% |
| Amounts payable | 17/49 | €118,441 | €108,061 | -€10,380 | -8.8% |
| Amounts payable within one year | 42/48 | €118,441 | €108,061 | -€10,380 | -8.8% |
| Trade debts | 44 | €112,904 | €81,684 | -€31,220 | -27.7% |
| Suppliers | 440/4 | €112,904 | €81,684 | -€31,220 | -27.7% |
| Taxes, remuneration and social security | 45 | €5,467 | €26,377 | +€20,910 | +382.5% |
| Taxes | 450/3 | €5,467 | €21,548 | +€16,081 | +294.2% |
| Remuneration and social security | 454/9 | - | €4,829 | +€4,829 | |
| Other amounts payable | 47/48 | €70 | - | -€70 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,375 | €5,860 | -€514 | -8.1% |
| Other operating charges | 640/8 | €872 | €573 | -€299 | -34.3% |
| Gross operating margin | 9900 | €18,974 | €51,149 | +€32,175 | +169.6% |
| Operating profit (loss) | 9901 | €11,727 | €44,716 | +€32,989 | +281.3% |
| Financial income | 75/76B | €0 | €3,600 | +€3,600 | +7199580.0% |
| Recurring financial income | 75 | €0 | €3,600 | +€3,600 | +7199580.0% |
| Financial charges | 65/66B | €120 | €84 | -€36 | -29.9% |
| Recurring financial charges | 65 | €120 | €84 | -€36 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €11,607 | €48,231 | +€36,624 | +315.5% |
| Income taxes | 67/77 | €5,500 | €15,449 | +€9,949 | +180.9% |
| Profit (loss) for the period | 9904 | €6,107 | €32,782 | +€26,675 | +436.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,107 | €32,782 | +€26,675 | +436.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.