CODRA ACERQUIM: 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.
CODRA ACERQUIM
Largest movements
- Stocks and contracts +€187,552
up €187,552 (+606.6%), from €30,918 to €218,470
- Receivables after one year -€93,500
down €93,500 (-100.0%), from €93,500 to €0
- Cash -€49,178
down €49,178 (-21.9%), from €224,752 to €175,574
mainly Stocks and contracts (-€187,552) and Contributions, distributions and other (-€81,581)
- Tangible fixed assets -€18,815
down €18,815 (-29.9%), from €63,005 to €44,190
of which Furniture and vehicles: -€14,296
- Receivables within one year -€15,837
down €15,837 (-17.3%), from €91,468 to €75,631
of which Trade receivables: -€25,437
- Other debts +€101,562
up €101,562 (+275.2%), from €36,907 to €138,468
- Reserves -€78,601
down €78,601 (-24.6%), from €320,068 to €241,468
- Debts after one year -€13,725
down €13,725 (-37.6%), from €36,535 to €22,810
- Financial charges +€26,905
up €26,905 (+66.3%), from €40,586 to €67,491
- Gross operating margin -€15,970
down €15,970 (-19.5%), from €81,922 to €65,951
- Financial income +€14,507
up €14,507 (+178.0%), from €8,150 to €22,657
- Taxes -€12,246
down €12,246, from €10,716 to -€1,530
- Other operating charges -€870
down €870 (-50.5%), from €1,722 to €852
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 | €503,886 | €513,865 | +€9,979 | +2.0% |
| Fixed assets | 21/28 | €63,005 | €44,190 | -€18,815 | -29.9% |
| Tangible fixed assets | 22/27 | €63,005 | €44,190 | -€18,815 | -29.9% |
| Plant, machinery and equipment | 23 | €13,587 | €9,127 | -€4,460 | -32.8% |
| Furniture and vehicles | 24 | €49,359 | €35,063 | -€14,296 | -29.0% |
| Other tangible fixed assets | 26 | €59 | €0 | -€59 | -99.9% |
| Current assets | 29/58 | €440,881 | €469,675 | +€28,794 | +6.5% |
| Amounts receivable after more than one year | 29 | €93,500 | €0 | -€93,500 | -100.0% |
| Trade receivables | 290 | €93,500 | €0 | -€93,500 | -100.0% |
| Stocks and contracts in progress | 3 | €30,918 | €218,470 | +€187,552 | +606.6% |
| Stocks | 30/36 | €30,918 | €218,470 | +€187,552 | +606.6% |
| Amounts receivable within one year | 40/41 | €91,468 | €75,631 | -€15,837 | -17.3% |
| Trade receivables | 40 | €91,468 | €66,031 | -€25,437 | -27.8% |
| Other amounts receivable | 41 | - | €9,600 | +€9,600 | |
| Cash at bank and in hand | 54/58 | €224,752 | €175,574 | -€49,178 | -21.9% |
| Deferred charges and accrued income | 490/1 | €244 | - | -€244 | |
| Total equity and liabilities | 10/49 | €503,886 | €513,865 | +€9,979 | +2.0% |
| Equity | 10/15 | €400,668 | €322,068 | -€78,601 | -19.6% |
| Contributions | 10/11 | €80,600 | €80,600 | = | 0.0% |
| Reserves | 13 | €320,068 | €241,468 | -€78,601 | -24.6% |
| Distributable reserves | 133 | €320,068 | €241,468 | -€78,601 | -24.6% |
| Amounts payable | 17/49 | €103,218 | €191,797 | +€88,580 | +85.8% |
| Amounts payable after more than one year | 17 | €36,535 | €22,810 | -€13,725 | -37.6% |
| Financial debts | 170/4 | €36,535 | €22,810 | -€13,725 | -37.6% |
| Amounts payable within one year | 42/48 | €66,682 | €168,858 | +€102,176 | +153.2% |
| Current portion of amounts payable after more than one year | 42 | €13,220 | €13,725 | +€505 | +3.8% |
| Financial debts | 43 | €4,051 | €4,046 | -€6 | -0.1% |
| Credit institutions | 430/8 | €4,051 | €4,046 | -€6 | -0.1% |
| Trade debts | 44 | €1 | €3,526 | +€3,525 | +496543.7% |
| Suppliers | 440/4 | €1 | €3,526 | +€3,525 | +496543.7% |
| Taxes, remuneration and social security | 45 | €12,503 | €9,093 | -€3,410 | -27.3% |
| Taxes | 450/3 | €12,503 | €9,093 | -€3,410 | -27.3% |
| Other amounts payable | 47/48 | €36,907 | €138,468 | +€101,562 | +275.2% |
| Accrued charges and deferred income | 492/3 | - | €129 | +€129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,059 | €18,815 | -€244 | -1.3% |
| Other operating charges | 640/8 | €1,722 | €852 | -€870 | -50.5% |
| Gross operating margin | 9900 | €81,922 | €65,951 | -€15,970 | -19.5% |
| Operating profit (loss) | 9901 | €61,141 | €46,285 | -€14,856 | -24.3% |
| Financial income | 75/76B | €8,150 | €22,657 | +€14,507 | +178.0% |
| Recurring financial income | 75 | €8,150 | €22,657 | +€14,507 | +178.0% |
| Financial charges | 65/66B | €40,586 | €67,491 | +€26,905 | +66.3% |
| Recurring financial charges | 65 | €40,586 | €67,491 | +€26,905 | +66.3% |
| Profit (loss) for the period before taxes | 9903 | €28,705 | €1,451 | -€27,254 | -94.9% |
| Income taxes | 67/77 | €10,716 | -€1,530 | -€12,246 | |
| Profit (loss) for the period | 9904 | €17,989 | €2,980 | -€15,009 | -83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,989 | €2,980 | -€15,009 | -83.4% |
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 11 October 2026 via checked.be.