Condesco: 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.
Condesco
Largest movements
- Current investments +€77,893
up €77,893 (+45.8%), from €170,142 to €248,035
- Cash -€34,478
down €34,478 (-44.7%), from €77,133 to €42,655
mainly Current investments (-€77,893) and Receivables within one year (-€18,907)
- Receivables within one year +€18,907
up €18,907 (+87.1%), from €21,713 to €40,620
- Reserves +€58,061
up €58,061 (+22.7%), from €255,792 to €313,853
of which Distributable reserves: +€58,061
- Turnover -€26,887
down €26,887 (-12.1%), from €223,018 to €196,131
- Financial income +€21,563
up €21,563 (+264%), from €8,164 to €29,727
of which Non-recurring financial income: +€23,387
- Purchases and services -€14,278
down €14,278 (-42.3%), from €33,774 to €19,496
- Gross operating margin -€12,609
down €12,609 (-6.7%), from €189,244 to €176,635
- Staff costs -€10,021
down €10,021 (-7.4%), from €135,010 to €124,989
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 | €282,041 | €342,080 | +€60,039 | +21.3% |
| Fixed assets | 21/28 | €4,408 | €2,125 | -€2,283 | -51.8% |
| Tangible fixed assets | 22/27 | €4,408 | €2,125 | -€2,283 | -51.8% |
| Plant, machinery and equipment | 23 | €2,991 | €1,264 | -€1,727 | -57.7% |
| Furniture and vehicles | 24 | €1,417 | €861 | -€556 | -39.2% |
| Current assets | 29/58 | €277,633 | €339,955 | +€62,322 | +22.4% |
| Amounts receivable within one year | 40/41 | €21,713 | €40,620 | +€18,907 | +87.1% |
| Trade receivables | 40 | €21,713 | €40,620 | +€18,907 | +87.1% |
| Current investments | 50/53 | €170,142 | €248,035 | +€77,893 | +45.8% |
| Cash at bank and in hand | 54/58 | €77,133 | €42,655 | -€34,478 | -44.7% |
| Deferred charges and accrued income | 490/1 | €8,645 | €8,645 | = | 0.0% |
| Total equity and liabilities | 10/49 | €282,041 | €342,080 | +€60,039 | +21.3% |
| Equity | 10/15 | €268,192 | €326,253 | +€58,061 | +21.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €255,792 | €313,853 | +€58,061 | +22.7% |
| Non-distributable reserves | 130/1 | €5,128 | €5,128 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,128 | €5,128 | = | 0.0% |
| Distributable reserves | 133 | €250,664 | €308,725 | +€58,061 | +23.2% |
| Amounts payable | 17/49 | €13,849 | €15,827 | +€1,978 | +14.3% |
| Amounts payable within one year | 42/48 | €13,849 | €15,827 | +€1,978 | +14.3% |
| Trade debts | 44 | €2,433 | €4,634 | +€2,201 | +90.5% |
| Suppliers | 440/4 | €2,433 | €4,634 | +€2,201 | +90.5% |
| Taxes, remuneration and social security | 45 | €11,416 | €11,193 | -€223 | -2.0% |
| Taxes | 450/3 | €11,416 | €11,193 | -€223 | -2.0% |
| Turnover | 70 | €223,018 | €196,131 | -€26,887 | -12.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €33,774 | €19,496 | -€14,278 | -42.3% |
| Remuneration, social security and pensions | 62 | €135,010 | €124,989 | -€10,021 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,439 | €2,283 | -€2,156 | -48.6% |
| Other operating charges | 640/8 | €193 | €195 | +€2 | +1.0% |
| Gross operating margin | 9900 | €189,244 | €176,635 | -€12,609 | -6.7% |
| Operating profit (loss) | 9901 | €49,602 | €49,168 | -€434 | -0.9% |
| Financial income | 75/76B | €8,164 | €29,727 | +€21,563 | +264% |
| Recurring financial income | 75 | €7,936 | €6,112 | -€1,824 | -23.0% |
| Non-recurring financial income | 76B | €228 | €23,615 | +€23,387 | +10,257% |
| Financial charges | 65/66B | €2,418 | - | -€2,418 | |
| Recurring financial charges | 65 | €2,418 | - | -€2,418 | |
| Profit (loss) for the period before taxes | 9903 | €55,348 | €78,895 | +€23,547 | +42.5% |
| Income taxes | 67/77 | €15,568 | €20,834 | +€5,266 | +33.8% |
| Profit (loss) for the period | 9904 | €39,780 | €58,061 | +€18,281 | +46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,780 | €58,061 | +€18,281 | +46.0% |
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.