CODRAFT: 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.
CODRAFT
Largest movements
- Cash -€98,875
down €98,875 (-36.5%), from €270,825 to €171,949
mainly Contributions, distributions and other (-€76,882) and Receivables within one year (-€62,393)
- Receivables within one year +€62,393
up €62,393 (+7.3%), from €850,155 to €912,548
of which Trade receivables: +€41,490
- Reserves -€74,031
down €74,031 (-12.7%), from €584,547 to €510,516
of which Distributable reserves: -€49,584
- Short-term financial debts +€19,408
up €19,408 (+19.5%), from €99,634 to €119,042
of which Credit institutions: +€19,408
- Tax, wage and social debts +€16,775
up €16,775 (+9.1%), from €184,143 to €200,918
of which Remuneration and social security: +€28,916
- Other operating charges +€45,255
up €45,255 (+12.4%), from €365,189 to €410,444
- Staff costs +€44,076
up €44,076 (+3.7%), from €1.2m to €1.2m
- Taxes -€18,190
down €18,190 (-67.5%), from €26,954 to €8,764
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,162,853 | €1,126,903 | -€35,950 | -3.1% |
| Fixed assets | 21/28 | €18,164 | €27,399 | +€9,235 | +50.8% |
| Tangible fixed assets | 22/27 | €17,919 | €27,154 | +€9,235 | +51.5% |
| Plant, machinery and equipment | 23 | €2,224 | €1,731 | -€494 | -22.2% |
| Furniture and vehicles | 24 | €15,695 | €25,423 | +€9,728 | +62.0% |
| Financial fixed assets | 28 | €245 | €245 | = | 0.0% |
| Current assets | 29/58 | €1,144,689 | €1,099,504 | -€45,185 | -3.9% |
| Amounts receivable within one year | 40/41 | €850,155 | €912,548 | +€62,393 | +7.3% |
| Trade receivables | 40 | €660,996 | €702,486 | +€41,490 | +6.3% |
| Other amounts receivable | 41 | €189,159 | €210,062 | +€20,904 | +11.1% |
| Cash at bank and in hand | 54/58 | €270,825 | €171,949 | -€98,875 | -36.5% |
| Deferred charges and accrued income | 490/1 | €23,710 | €15,007 | -€8,703 | -36.7% |
| Total equity and liabilities | 10/49 | €1,162,853 | €1,126,903 | -€35,950 | -3.1% |
| Equity | 10/15 | €744,547 | €670,516 | -€74,031 | -9.9% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Capital | 10 | €160,000 | €160,000 | = | 0.0% |
| Issued capital | 100 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €584,547 | €510,516 | -€74,031 | -12.7% |
| Non-distributable reserves | 130/1 | €41,402 | €16,955 | -€24,447 | -59.0% |
| Legal reserve | 130 | €41,402 | €16,955 | -€24,447 | -59.0% |
| Tax-exempt reserves | 132 | €17,767 | €17,767 | = | 0.0% |
| Distributable reserves | 133 | €525,378 | €475,794 | -€49,584 | -9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €418,306 | €456,387 | +€38,081 | +9.1% |
| Amounts payable within one year | 42/48 | €418,306 | €456,387 | +€38,081 | +9.1% |
| Financial debts | 43 | €99,634 | €119,042 | +€19,408 | +19.5% |
| Credit institutions | 430/8 | €99,634 | €119,042 | +€19,408 | +19.5% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €134,528 | €136,427 | +€1,899 | +1.4% |
| Suppliers | 440/4 | €134,528 | €136,427 | +€1,899 | +1.4% |
| Taxes, remuneration and social security | 45 | €184,143 | €200,918 | +€16,775 | +9.1% |
| Taxes | 450/3 | €36,060 | €23,918 | -€12,141 | -33.7% |
| Remuneration and social security | 454/9 | €148,084 | €176,999 | +€28,916 | +19.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,190,630 | €1,234,705 | +€44,076 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,922 | €7,314 | +€1,393 | +23.5% |
| Other operating charges | 640/8 | €365,189 | €410,444 | +€45,255 | +12.4% |
| Gross operating margin | 9900 | €1,651,445 | €1,665,790 | +€14,345 | +0.9% |
| Operating profit (loss) | 9901 | €89,704 | €13,327 | -€76,378 | -85.1% |
| Financial income | 75/76B | €16,177 | €4,017 | -€12,161 | -75.2% |
| Recurring financial income | 75 | €16,177 | €4,017 | -€12,161 | -75.2% |
| Financial charges | 65/66B | €2,045 | €5,728 | +€3,683 | +180.0% |
| Recurring financial charges | 65 | €2,045 | €5,728 | +€3,683 | +180.0% |
| Profit (loss) for the period before taxes | 9903 | €103,836 | €11,615 | -€92,221 | -88.8% |
| Income taxes | 67/77 | €26,954 | €8,764 | -€18,190 | -67.5% |
| Profit (loss) for the period | 9904 | €76,882 | €2,851 | -€74,031 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €76,882 | €2,851 | -€74,031 | -96.3% |
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 4 October 2026 via checked.be.