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
- Cash +€297,153
up €297,153 (+278.3%), from €106,774 to €403,927
mainly Contributions, distributions and other (+€187,979) and Depreciation (+€109,878)
- Financial fixed assets -€260,000
down €260,000 (-100.0%), from €260,000 to €0
- Intangible fixed assets +€195,898
new in 2025: €195,898
- Tangible fixed assets -€71,100
down €71,100 (-4.5%), from €1.6m to €1.5m
of which Land and buildings: -€74,455
- Reserves +€249,998
up €249,998 (+42.6%), from €586,317 to €836,315
of which Distributable reserves: +€251,569
- Debts after one year -€200,000
down €200,000 (-21.4%), from €936,000 to €736,000
of which Other amounts payable: -€200,000
- Other debts +€103,880
up €103,880 (+3249.6%), from €3,197 to €107,076
- Provisions +€25,000
new in 2025: €25,000
- Financial charges +€14,747
up €14,747 (+67.1%), from €21,970 to €36,718
- Gross operating margin -€11,733
down €11,733 (-4.5%), from €259,912 to €248,179
- Taxes -€7,376
down €7,376 (-17.9%), from €41,279 to €33,903
- Depreciation +€6,928
up €6,928 (+6.7%), from €102,950 to €109,878
- Financial income +€3,504
up €3,504 (+1927.7%), from €182 to €3,686
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 | €2,234,224 | €2,396,445 | +€162,220 | +7.3% |
| Fixed assets | 21/28 | €1,854,254 | €1,719,052 | -€135,202 | -7.3% |
| Intangible fixed assets | 21 | - | €195,898 | +€195,898 | |
| Tangible fixed assets | 22/27 | €1,594,254 | €1,523,154 | -€71,100 | -4.5% |
| Land and buildings | 22 | €1,500,400 | €1,425,945 | -€74,455 | -5.0% |
| Plant, machinery and equipment | 23 | €45,156 | €45,156 | = | 0.0% |
| Furniture and vehicles | 24 | €15,036 | €12,892 | -€2,145 | -14.3% |
| Other tangible fixed assets | 26 | €33,661 | €39,161 | +€5,500 | +16.3% |
| Financial fixed assets | 28 | €260,000 | €0 | -€260,000 | -100.0% |
| Current assets | 29/58 | €379,970 | €677,392 | +€297,422 | +78.3% |
| Amounts receivable within one year | 40/41 | €26,924 | €27,193 | +€269 | +1.0% |
| Trade receivables | 40 | €26,924 | €26,654 | -€270 | -1.0% |
| Other amounts receivable | 41 | - | €539 | +€539 | |
| Current investments | 50/53 | €246,273 | €246,273 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €106,774 | €403,927 | +€297,153 | +278.3% |
| Total equity and liabilities | 10/49 | €2,234,224 | €2,396,445 | +€162,220 | +7.3% |
| Equity | 10/15 | €1,232,264 | €1,482,262 | +€249,998 | +20.3% |
| Contributions | 10/11 | €645,947 | €645,947 | = | 0.0% |
| Reserves | 13 | €586,317 | €836,315 | +€249,998 | +42.6% |
| Non-distributable reserves | 130/1 | €1,571 | €0 | -€1,571 | -100.0% |
| Reserves not available under the articles | 1311 | €1,571 | €0 | -€1,571 | -100.0% |
| Distributable reserves | 133 | €584,746 | €836,315 | +€251,569 | +43.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €25,000 | +€25,000 | |
| Provisions for liabilities and charges | 160/5 | - | €25,000 | +€25,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €1,001,961 | €889,183 | -€112,778 | -11.3% |
| Amounts payable after more than one year | 17 | €936,000 | €736,000 | -€200,000 | -21.4% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €936,000 | €736,000 | -€200,000 | -21.4% |
| Amounts payable within one year | 42/48 | €56,698 | €131,863 | +€75,165 | +132.6% |
| Current portion of amounts payable after more than one year | 42 | €8,431 | €0 | -€8,431 | -100.0% |
| Financial debts | 43 | - | €178 | +€178 | |
| Credit institutions | 430/8 | - | €178 | +€178 | |
| Trade debts | 44 | €10,692 | €407 | -€10,285 | -96.2% |
| Suppliers | 440/4 | €10,692 | €407 | -€10,285 | -96.2% |
| Taxes, remuneration and social security | 45 | €34,379 | €24,201 | -€10,178 | -29.6% |
| Taxes | 450/3 | €34,379 | €24,201 | -€10,178 | -29.6% |
| Other amounts payable | 47/48 | €3,197 | €107,076 | +€103,880 | +3249.6% |
| Accrued charges and deferred income | 492/3 | €9,263 | €21,320 | +€12,058 | +130.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,950 | €109,878 | +€6,928 | +6.7% |
| Other operating charges | 640/8 | €11,361 | €8,855 | -€2,506 | -22.1% |
| Non-recurring operating charges | 66A | - | €494 | +€494 | |
| Gross operating margin | 9900 | €259,912 | €248,179 | -€11,733 | -4.5% |
| Operating profit (loss) | 9901 | €145,602 | €128,953 | -€16,649 | -11.4% |
| Financial income | 75/76B | €182 | €3,686 | +€3,504 | +1927.7% |
| Recurring financial income | 75 | €182 | €3,686 | +€3,504 | +1927.7% |
| Financial charges | 65/66B | €21,970 | €36,718 | +€14,747 | +67.1% |
| Recurring financial charges | 65 | €21,970 | €36,718 | +€14,747 | +67.1% |
| Profit (loss) for the period before taxes | 9903 | €123,813 | €95,922 | -€27,892 | -22.5% |
| Income taxes | 67/77 | €41,279 | €33,903 | -€7,376 | -17.9% |
| Profit (loss) for the period | 9904 | €82,535 | €62,019 | -€20,516 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €82,535 | €62,019 | -€20,516 | -24.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.