CODYNAMICS: 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.
CODYNAMICS
Largest movements
- Cash -€8,677
down €8,677 (-15.5%), from €56,033 to €47,356
mainly Contributions, distributions and other (-€147,589) and Investment in fixed assets (net) (-€2,788)
- Receivables within one year +€1,573
up €1,573 (+13.3%), from €11,798 to €13,371
- Profit (loss) carried forward -€82,480
no longer reported in 2025 (was €82,480)
- Other debts +€76,280
up €76,280 (+186%), from €40,944 to €117,224
- Gross operating margin +€17,081
up €17,081 (+22.8%), from €74,949 to €92,030
- Taxes +€4,352
up €4,352 (+23.6%), from €18,417 to €22,770
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.
Derived cash bridge
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 | €136,840 | €127,809 | -€9,031 | -6.6% |
| Fixed assets | 21/28 | €14,280 | €13,414 | -€866 | -6.1% |
| Tangible fixed assets | 22/27 | €14,250 | €13,384 | -€866 | -6.1% |
| Furniture and vehicles | 24 | €917 | €2,591 | +€1,674 | +182% |
| Other tangible fixed assets | 26 | €13,332 | €10,793 | -€2,540 | -19.0% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €122,560 | €114,395 | -€8,165 | -6.7% |
| Amounts receivable within one year | 40/41 | €11,798 | €13,371 | +€1,573 | +13.3% |
| Trade receivables | 40 | €11,798 | €13,371 | +€1,573 | +13.3% |
| Current investments | 50/53 | €52,900 | €52,900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,033 | €47,356 | -€8,677 | -15.5% |
| Deferred charges and accrued income | 490/1 | €1,830 | €769 | -€1,061 | -58.0% |
| Total equity and liabilities | 10/49 | €136,840 | €127,809 | -€9,031 | -6.6% |
| Equity | 10/15 | €85,480 | €3,000 | -€82,480 | -96.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,480 | - | -€82,480 | |
| Amounts payable | 17/49 | €51,360 | €124,809 | +€73,449 | +143% |
| Amounts payable within one year | 42/48 | €51,360 | €124,809 | +€73,449 | +143% |
| Financial debts | 43 | €1,408 | €505 | -€903 | -64.1% |
| Credit institutions | 430/8 | €1,408 | €505 | -€903 | -64.1% |
| Trade debts | 44 | €1,187 | €457 | -€730 | -61.5% |
| Suppliers | 440/4 | €1,187 | €457 | -€730 | -61.5% |
| Taxes, remuneration and social security | 45 | €7,821 | €6,623 | -€1,198 | -15.3% |
| Taxes | 450/3 | €7,821 | €6,623 | -€1,198 | -15.3% |
| Other amounts payable | 47/48 | €40,944 | €117,224 | +€76,280 | +186% |
| Non-recurring operating income | 76A | - | €3 | +€3 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,544 | €3,653 | +€109 | +3.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €157 | €12 | -€144 | -92.2% |
| Gross operating margin | 9900 | €74,949 | €92,030 | +€17,081 | +22.8% |
| Operating profit (loss) | 9901 | €70,861 | €87,965 | +€17,104 | +24.1% |
| Financial charges | 65/66B | €87 | €86 | -€1 | -0.8% |
| Recurring financial charges | 65 | €87 | €86 | -€1 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €70,774 | €87,879 | +€17,105 | +24.2% |
| Income taxes | 67/77 | €18,417 | €22,770 | +€4,352 | +23.6% |
| Profit (loss) for the period | 9904 | €52,356 | €65,109 | +€12,753 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,356 | €65,109 | +€12,753 | +24.4% |
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 24 October 2026 via checked.be.