CONCEDO: 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.
CONCEDO
Largest movements
- Cash +€107,634
up €107,634 (+145%), from €74,412 to €182,047
mainly Net result for the year (+€82,223) and Tax, wage and social debts (+€24,739)
- Receivables within one year -€7,908
down €7,908 (-36.9%), from €21,405 to €13,498
of which Trade receivables: -€6,178
- Deferred charges and accrued income +€5,555
up €5,555 (+8,279%), from €67 to €5,622
- Tangible fixed assets +€3,804
new in 2025: €3,804
- Reserves +€82,223
up €82,223 (+117%), from €70,314 to €152,537
- Tax, wage and social debts +€24,739
up €24,739 (+126%), from €19,668 to €44,407
- Trade debts +€2,123
up €2,123 (+235%), from €902 to €3,026
- Gross operating margin +€17,490
up €17,490 (+19.5%), from €89,540 to €107,031
- Taxes +€5,930
up €5,930 (+31.4%), from €18,896 to €24,826
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 | €95,885 | €204,971 | +€109,086 | +114% |
| Fixed assets | 21/28 | - | €3,804 | +€3,804 | |
| Tangible fixed assets | 22/27 | - | €3,804 | +€3,804 | |
| Furniture and vehicles | 24 | - | €3,804 | +€3,804 | |
| Current assets | 29/58 | €95,885 | €201,166 | +€105,281 | +110% |
| Amounts receivable within one year | 40/41 | €21,405 | €13,498 | -€7,908 | -36.9% |
| Trade receivables | 40 | €6,353 | €175 | -€6,178 | -97.3% |
| Other amounts receivable | 41 | €15,053 | €13,323 | -€1,730 | -11.5% |
| Cash at bank and in hand | 54/58 | €74,412 | €182,047 | +€107,634 | +145% |
| Deferred charges and accrued income | 490/1 | €67 | €5,622 | +€5,555 | +8,279% |
| Total equity and liabilities | 10/49 | €95,885 | €204,971 | +€109,086 | +114% |
| Equity | 10/15 | €75,314 | €157,537 | +€82,223 | +109% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,314 | €152,537 | +€82,223 | +117% |
| Distributable reserves | 133 | €70,314 | €152,537 | +€82,223 | +117% |
| Amounts payable | 17/49 | €20,571 | €47,433 | +€26,863 | +131% |
| Amounts payable within one year | 42/48 | €20,571 | €47,433 | +€26,863 | +131% |
| Trade debts | 44 | €902 | €3,026 | +€2,123 | +235% |
| Suppliers | 440/4 | €902 | €3,026 | +€2,123 | +235% |
| Taxes, remuneration and social security | 45 | €19,668 | €44,407 | +€24,739 | +126% |
| Taxes | 450/3 | €19,668 | €44,407 | +€24,739 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €42 | +€42 | |
| Other operating charges | 640/8 | €437 | €573 | +€136 | +31.1% |
| Gross operating margin | 9900 | €89,540 | €107,031 | +€17,490 | +19.5% |
| Operating profit (loss) | 9901 | €89,103 | €106,415 | +€17,312 | +19.4% |
| Financial income | 75/76B | €138 | €823 | +€685 | +498% |
| Recurring financial income | 75 | €138 | €823 | +€685 | +498% |
| Financial charges | 65/66B | €30 | €189 | +€159 | +523% |
| Recurring financial charges | 65 | €30 | €189 | +€159 | +523% |
| Profit (loss) for the period before taxes | 9903 | €89,211 | €107,049 | +€17,839 | +20.0% |
| Income taxes | 67/77 | €18,896 | €24,826 | +€5,930 | +31.4% |
| Profit (loss) for the period | 9904 | €70,314 | €82,223 | +€11,909 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,314 | €82,223 | +€11,909 | +16.9% |
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 15 October 2026 via checked.be.