CONDOR: what changed
Two fiscal 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.
CONDOR
Largest movements
- Receivables within one year +€42,586
up €42,586 (+150.0%), from €28,400 to €70,987
of which Trade receivables: +€43,717
- Cash +€11,350
up €11,350 (+312.4%), from €3,634 to €14,984
mainly Net result for the year (+€67,596) and Tax, wage and social debts (+€15,578)
- Tangible fixed assets -€8,442
down €8,442 (-35.9%), from €23,494 to €15,052
- Deferred charges and accrued income -€1,069
down €1,069 (-92.5%), from €1,156 to €87
- Profit (loss) carried forward +€67,596
up €67,596 (+54.1%), from -€125,017 to -€57,421
- Trade debts -€23,034
down €23,034 (-67.8%), from €33,999 to €10,964
- Other debts -€15,714
down €15,714 (-15.6%), from €100,453 to €84,739
- Tax, wage and social debts +€15,578
up €15,578 (+111.3%), from €13,997 to €29,575
of which Remuneration and social security: +€10,397
- Gross operating margin +€134,980
up €134,980 (+146.4%), from €92,226 to €227,206
- Staff costs +€45,663
up €45,663 (+49.3%), from €92,667 to €138,329
- Financial charges +€6,085
up €6,085, from -€26 to €6,058
- Taxes +€4,824
new in 2025: €4,824
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.
Cash bridge derived
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 | €56,684 | €101,109 | +€44,425 | +78.4% |
| Fixed assets | 21/28 | €23,494 | €15,052 | -€8,442 | -35.9% |
| Tangible fixed assets | 22/27 | €23,494 | €15,052 | -€8,442 | -35.9% |
| Furniture and vehicles | 24 | €23,494 | €15,052 | -€8,442 | -35.9% |
| Current assets | 29/58 | €33,190 | €86,058 | +€52,868 | +159.3% |
| Amounts receivable within one year | 40/41 | €28,400 | €70,987 | +€42,586 | +150.0% |
| Trade receivables | 40 | €27,214 | €70,931 | +€43,717 | +160.6% |
| Other amounts receivable | 41 | €1,186 | €55 | -€1,131 | -95.4% |
| Cash at bank and in hand | 54/58 | €3,634 | €14,984 | +€11,350 | +312.4% |
| Deferred charges and accrued income | 490/1 | €1,156 | €87 | -€1,069 | -92.5% |
| Total equity and liabilities | 10/49 | €56,684 | €101,109 | +€44,425 | +78.4% |
| Equity | 10/15 | -€91,765 | -€24,169 | +€67,596 | +73.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €14,660 | €14,660 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €12,800 | €14,660 | +€1,860 | +14.5% |
| Profit (loss) carried forward | 14 | -€125,017 | -€57,421 | +€67,596 | +54.1% |
| Amounts payable | 17/49 | €148,449 | €125,278 | -€23,171 | -15.6% |
| Amounts payable within one year | 42/48 | €148,449 | €125,278 | -€23,171 | -15.6% |
| Trade debts | 44 | €33,999 | €10,964 | -€23,034 | -67.8% |
| Suppliers | 440/4 | €33,999 | €10,964 | -€23,034 | -67.8% |
| Taxes, remuneration and social security | 45 | €13,997 | €29,575 | +€15,578 | +111.3% |
| Taxes | 450/3 | €0 | €5,181 | +€5,181 | |
| Remuneration and social security | 454/9 | €13,997 | €24,394 | +€10,397 | +74.3% |
| Other amounts payable | 47/48 | €100,453 | €84,739 | -€15,714 | -15.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €92,667 | €138,329 | +€45,663 | +49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,832 | €8,442 | +€610 | +7.8% |
| Other operating charges | 640/8 | €3,733 | €2,048 | -€1,685 | -45.1% |
| Non-recurring operating charges | 66A | €27,900 | €0 | -€27,900 | -100.0% |
| Gross operating margin | 9900 | €92,226 | €227,206 | +€134,980 | +146.4% |
| Operating profit (loss) | 9901 | -€39,906 | €78,386 | +€118,292 | |
| Financial income | 75/76B | €0 | €91 | +€91 | +22740.0% |
| Recurring financial income | 75 | €0 | €91 | +€91 | +22740.0% |
| Financial charges | 65/66B | -€26 | €6,058 | +€6,085 | |
| Recurring financial charges | 65 | -€26 | €6,058 | +€6,085 | |
| Profit (loss) for the period before taxes | 9903 | -€39,879 | €72,419 | +€112,298 | |
| Income taxes | 67/77 | - | €4,824 | +€4,824 | |
| Profit (loss) for the period | 9904 | -€39,879 | €67,596 | +€107,475 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,879 | €67,596 | +€107,475 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.