Condeco: 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.
What changed
Condeco
NACE 23.610, Manufacture of other non-metallic mineral products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.7m-€559,152
Equity
€4.2m
2024 · €3.3m+€914,604
Cash
€1.1m
2024 · €821,593+€262,529
Balance sheet total
€5.7m
2024 · €6.1m-€442,520
Largest movements
Assets
- Receivables within one year +€994,977
up €994,977 (+170%), from €586,067 to €1.6m
of which Trade receivables: +€950,639
- Current investments -€850,000
down €850,000 (-45.9%), from €1.9m to €1.0m
- Stocks and contracts -€552,397
down €552,397 (-29.5%), from €1.9m to €1.3m
of which Stocks: -€552,397
- Tangible fixed assets -€277,537
down €277,537 (-31.7%), from €874,784 to €597,247
- Cash +€262,529
up €262,529 (+32.0%), from €821,593 to €1.1m
mainly Net result for the year (+€1.1m) and Current investments (+€850,000)
Equity and liabilities
- Other debts -€1.1m
down €1.1m (-84.9%), from €1.3m to €200,000
- Reserves +€914,604
up €914,604 (+33.1%), from €2.8m to €3.7m
of which Distributable reserves: +€914,604
- Debts after one year -€202,201
down €202,201 (-46.9%), from €431,027 to €228,827
Income statement
- Turnover -€621,454
down €621,454 (-5.1%), from €12.3m to €11.7m
- Services and other goods +€471,571
up €471,571 (+34.5%), from €1.4m to €1.8m
- Goods and materials -€431,292
down €431,292 (-8.1%), from €5.3m to €4.9m
of which Purchases: -€610,297
- Taxes -€194,969
down €194,969 (-37.8%), from €515,541 to €320,571
- Staff costs -€190,907
down €190,907 (-6.5%), from €2.9m to €2.7m
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.
Result 2024
€1.7m
Turnover
-€621,454
Other operating income
-€47,155
Goods and materials
+€431,292
Services and other goods
-€471,571
Staff costs
+€190,907
Depreciation
+€20,098
Write-downs
-€28,708
Other operating charges
+€22,154
Other operating items
-€239,473
Financial income
-€15,879
Financial charges
+€5,668
Taxes
+€194,969
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€148,492
Investment
+€823,284
Financing
-€412,263
Cash 2024
€821,593
From operations (derived)
-€148,492
Net result for the year
+€1.1m
Depreciation
+€306,943
Stocks and contracts
+€552,397
Receivables within one year
-€994,977
Deferred charges and accrued income
+€17,401
Trade debts
+€29,140
Tax, wage and social debts
-€6,728
Advances received
-€46,000
Other debts
-€1.1m
Accrued charges and deferred income
+€3,728
Investment (derived)
+€823,284
Investment in fixed assets (net)
-€26,716
Current investments
+€850,000
Financing
-€412,263
Debts after one year
-€202,201
Current portion of long-term debt
-€10,063
Contributions, distributions and other
-€200,000
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,099,570 | €5,657,050 | -€442,520 | -7.3% |
| Fixed assets | 21/28 | €908,614 | €628,387 | -€280,227 | -30.8% |
| Intangible fixed assets | 21 | €13,670 | €10,980 | -€2,691 | -19.7% |
| Tangible fixed assets | 22/27 | €874,784 | €597,247 | -€277,537 | -31.7% |
| Plant, machinery and equipment | 23 | €279,140 | €206,366 | -€72,773 | -26.1% |
| Furniture and vehicles | 24 | €332,883 | €196,267 | -€136,616 | -41.0% |
| Leasing and similar rights | 25 | €107,942 | €68,690 | -€39,252 | -36.4% |
| Other tangible fixed assets | 26 | €154,819 | €125,923 | -€28,895 | -18.7% |
| Financial fixed assets | 28 | €20,160 | €20,160 | = | 0.0% |
| Other financial fixed assets | 284/8 | €20,160 | €20,160 | = | 0.0% |
| Shares | 284 | €1,850 | €1,850 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €18,310 | €18,310 | = | 0.0% |
| Current assets | 29/58 | €5,190,956 | €5,028,664 | -€162,292 | -3.1% |
| Stocks and contracts in progress | 3 | €1,871,870 | €1,319,472 | -€552,397 | -29.5% |
| Stocks | 30/36 | €1,871,870 | €1,319,472 | -€552,397 | -29.5% |
| Raw materials and consumables | 30/31 | €672,216 | €520,326 | -€151,890 | -22.6% |
| Finished goods | 33 | €1,199,653 | €799,146 | -€400,507 | -33.4% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €586,067 | €1,581,044 | +€994,977 | +170% |
| Trade receivables | 40 | €517,798 | €1,468,437 | +€950,639 | +184% |
| Other amounts receivable | 41 | €68,269 | €112,607 | +€44,338 | +64.9% |
| Current investments | 50/53 | €1,850,000 | €1,000,000 | -€850,000 | -45.9% |
| Other investments | 51/53 | €1,850,000 | €1,000,000 | -€850,000 | -45.9% |
| Cash at bank and in hand | 54/58 | €821,593 | €1,084,122 | +€262,529 | +32.0% |
| Deferred charges and accrued income | 490/1 | €61,427 | €44,026 | -€17,401 | -28.3% |
| Total equity and liabilities | 10/49 | €6,099,570 | €5,657,050 | -€442,520 | -7.3% |
| Equity | 10/15 | €3,262,719 | €4,177,323 | +€914,604 | +28.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €2,762,719 | €3,677,323 | +€914,604 | +33.1% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,337 | €30,337 | = | 0.0% |
| Distributable reserves | 133 | €2,682,382 | €3,596,986 | +€914,604 | +34.1% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,831,851 | €1,474,727 | -€1.4m | -47.9% |
| Amounts payable after more than one year | 17 | €431,027 | €228,827 | -€202,201 | -46.9% |
| Financial debts | 170/4 | €431,027 | €228,827 | -€202,201 | -46.9% |
| Leasing and similar obligations | 172 | €74,763 | €32,572 | -€42,191 | -56.4% |
| Credit institutions | 173 | €356,264 | €196,255 | -€160,010 | -44.9% |
| Amounts payable within one year | 42/48 | €2,400,315 | €1,241,664 | -€1.2m | -48.3% |
| Current portion of amounts payable after more than one year | 42 | €212,263 | €202,201 | -€10,063 | -4.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €560,260 | €589,400 | +€29,140 | +5.2% |
| Suppliers | 440/4 | €560,260 | €589,400 | +€29,140 | +5.2% |
| Advances received on contracts in progress | 46 | €46,000 | €0 | -€46,000 | -100% |
| Taxes, remuneration and social security | 45 | €256,792 | €250,064 | -€6,728 | -2.6% |
| Taxes | 450/3 | €185,106 | €193,379 | +€8,273 | +4.5% |
| Remuneration and social security | 454/9 | €71,686 | €56,685 | -€15,002 | -20.9% |
| Other amounts payable | 47/48 | €1,325,000 | €200,000 | -€1.1m | -84.9% |
| Accrued charges and deferred income | 492/3 | €509 | €4,236 | +€3,728 | +733% |
| Operating income | 70/76A | €12,222,858 | €11,314,789 | -€908,069 | -7.4% |
| Turnover | 70 | €12,302,621 | €11,681,168 | -€621,454 | -5.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€154,846 | -€400,507 | -€245,661 | -159% |
| Other operating income | 74 | €75,083 | €27,928 | -€47,155 | -62.8% |
| Non-recurring operating income | 76A | €0 | €6,201 | +€6,201 | |
| Operating charges | 60/66A | €10,027,578 | €9,863,419 | -€164,159 | -1.6% |
| Goods for resale, raw materials and consumables | 60 | €5,328,496 | €4,897,204 | -€431,292 | -8.1% |
| Purchases | 600/8 | €5,355,611 | €4,745,314 | -€610,297 | -11.4% |
| Change in stocks: decrease (increase) | 609 | -€27,115 | €151,890 | +€179,005 | |
| Services and other goods | 61 | €1,365,100 | €1,836,672 | +€471,571 | +34.5% |
| Remuneration, social security and pensions | 62 | €2,937,821 | €2,746,914 | -€190,907 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327,041 | €306,943 | -€20,098 | -6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€28,708 | €0 | +€28,708 | |
| Other operating charges | 640/8 | €97,704 | €75,550 | -€22,154 | -22.7% |
| Non-recurring operating charges | 66A | €123 | €136 | +€13 | +10.5% |
| Operating profit (loss) | 9901 | €2,195,280 | €1,451,370 | -€743,910 | -33.9% |
| Financial income | 75/76B | €88,462 | €72,583 | -€15,879 | -17.9% |
| Recurring financial income | 75 | €88,462 | €72,583 | -€15,879 | -17.9% |
| Income from current assets | 751 | €32,744 | €29,759 | -€2,985 | -9.1% |
| Other financial income | 752/9 | €55,717 | €42,824 | -€12,894 | -23.1% |
| Financial charges | 65/66B | €94,445 | €88,777 | -€5,668 | -6.0% |
| Recurring financial charges | 65 | €94,445 | €88,777 | -€5,668 | -6.0% |
| Debt charges | 650 | €16,450 | €12,506 | -€3,944 | -24.0% |
| Other financial charges | 652/9 | €77,995 | €76,271 | -€1,724 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €2,189,297 | €1,435,176 | -€754,122 | -34.4% |
| Income taxes | 67/77 | €515,541 | €320,571 | -€194,969 | -37.8% |
| Taxes | 670/3 | €515,541 | €320,571 | -€194,969 | -37.8% |
| Profit (loss) for the period | 9904 | €1,673,757 | €1,114,604 | -€559,152 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,673,757 | €1,114,604 | -€559,152 | -33.4% |
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 16 October 2026 via checked.be.