CONDACUM: 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.
CONDACUM
Largest movements
- Receivables within one year +€144,485
up €144,485 (+32.2%), from €448,890 to €593,374
of which Other amounts receivable: +€162,490
- Tangible fixed assets -€53,950
down €53,950 (-14.8%), from €363,350 to €309,401
of which Other tangible fixed assets: -€32,568
- Cash +€22,215
up €22,215 (+301%), from €7,374 to €29,590
mainly Net result for the year (+€224,257) and Depreciation (+€75,776)
- Deferred charges and accrued income +€10,299
up €10,299 (+11,176%), from €92 to €10,391
- Intangible fixed assets -€10,136
down €10,136 (-59.9%), from €16,911 to €6,775
- Profit (loss) carried forward +€224,257
up €224,257 (+191%), from €117,175 to €341,432
- Trade debts -€56,790
down €56,790 (-18.2%), from €312,032 to €255,241
- Debts after one year -€51,331
down €51,331 (-69.9%), from €73,429 to €22,098
- Short-term financial debts -€28,907
down €28,907 (-36.4%), from €79,420 to €50,513
- Other debts +€22,092
up €22,092 (+37.2%), from €59,406 to €81,498
- Gross operating margin +€87,633
up €87,633 (+6.1%), from €1.4m to €1.5m
- Taxes +€22,278
up €22,278 (+41.5%), from €53,712 to €75,990
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.
Derived cash bridge
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 | €890,593 | €997,723 | +€107,130 | +12.0% |
| Fixed assets | 21/28 | €380,261 | €316,176 | -€64,085 | -16.9% |
| Intangible fixed assets | 21 | €16,911 | €6,775 | -€10,136 | -59.9% |
| Tangible fixed assets | 22/27 | €363,350 | €309,401 | -€53,950 | -14.8% |
| Land and buildings | 22 | €24,762 | €21,683 | -€3,078 | -12.4% |
| Plant, machinery and equipment | 23 | €145,929 | €128,382 | -€17,547 | -12.0% |
| Furniture and vehicles | 24 | €3,480 | €2,724 | -€757 | -21.7% |
| Other tangible fixed assets | 26 | €189,180 | €156,612 | -€32,568 | -17.2% |
| Current assets | 29/58 | €510,332 | €681,547 | +€171,216 | +33.5% |
| Stocks and contracts in progress | 3 | €53,975 | €48,192 | -€5,783 | -10.7% |
| Stocks | 30/36 | €53,975 | €48,192 | -€5,783 | -10.7% |
| Amounts receivable within one year | 40/41 | €448,890 | €593,374 | +€144,485 | +32.2% |
| Trade receivables | 40 | €32,962 | €14,957 | -€18,006 | -54.6% |
| Other amounts receivable | 41 | €415,928 | €578,418 | +€162,490 | +39.1% |
| Cash at bank and in hand | 54/58 | €7,374 | €29,590 | +€22,215 | +301% |
| Deferred charges and accrued income | 490/1 | €92 | €10,391 | +€10,299 | +11,176% |
| Total equity and liabilities | 10/49 | €890,593 | €997,723 | +€107,130 | +12.0% |
| Equity | 10/15 | €193,251 | €417,508 | +€224,257 | +116% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,476 | €57,476 | = | 0.0% |
| Non-distributable reserves | 130/1 | €53,608 | €53,608 | = | 0.0% |
| Reserves not available under the articles | 1311 | €53,608 | €53,608 | = | 0.0% |
| Distributable reserves | 133 | €3,868 | €3,868 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,175 | €341,432 | +€224,257 | +191% |
| Amounts payable | 17/49 | €697,342 | €580,215 | -€117,127 | -16.8% |
| Amounts payable after more than one year | 17 | €73,429 | €22,098 | -€51,331 | -69.9% |
| Financial debts | 170/4 | €73,429 | €22,098 | -€51,331 | -69.9% |
| Amounts payable within one year | 42/48 | €619,412 | €552,556 | -€66,856 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €49,011 | €51,331 | +€2,320 | +4.7% |
| Financial debts | 43 | €79,420 | €50,513 | -€28,907 | -36.4% |
| Credit institutions | 430/8 | €79,420 | €50,513 | -€28,907 | -36.4% |
| Trade debts | 44 | €312,032 | €255,241 | -€56,790 | -18.2% |
| Suppliers | 440/4 | €312,032 | €255,241 | -€56,790 | -18.2% |
| Taxes, remuneration and social security | 45 | €119,543 | €113,973 | -€5,570 | -4.7% |
| Taxes | 450/3 | €27,584 | €3,768 | -€23,816 | -86.3% |
| Remuneration and social security | 454/9 | €91,959 | €110,205 | +€18,246 | +19.8% |
| Other amounts payable | 47/48 | €59,406 | €81,498 | +€22,092 | +37.2% |
| Accrued charges and deferred income | 492/3 | €4,501 | €5,561 | +€1,060 | +23.6% |
| Remuneration, social security and pensions | 62 | €1,126,902 | €1,140,537 | +€13,635 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,088 | €75,776 | +€2,688 | +3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €6,858 | €5,394 | -€1,464 | -21.3% |
| Gross operating margin | 9900 | €1,447,523 | €1,535,157 | +€87,633 | +6.1% |
| Operating profit (loss) | 9901 | €240,675 | €313,449 | +€72,774 | +30.2% |
| Financial income | 75/76B | €1 | €1 | -€0 | -8.0% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -8.0% |
| Financial charges | 65/66B | €14,222 | €13,203 | -€1,019 | -7.2% |
| Recurring financial charges | 65 | €14,222 | €13,203 | -€1,019 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €226,455 | €300,247 | +€73,792 | +32.6% |
| Income taxes | 67/77 | €53,712 | €75,990 | +€22,278 | +41.5% |
| Profit (loss) for the period | 9904 | €172,742 | €224,257 | +€51,515 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €172,742 | €224,257 | +€51,515 | +29.8% |
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 13 October 2026 via checked.be.