Condor: 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.
Condor
Largest movements
- Receivables after one year -€5.2m
down €5.2m (-100.0%), from €5.2m to €0
- Stocks and contracts +€832,576
new in 2023: €832,576
- Cash +€348,790
up €348,790 (+402.8%), from €86,581 to €435,371
mainly Receivables after one year (+€5.2m) and Net result for the year (+€3.1m)
- Debts after one year -€3.6m
down €3.6m (-100.0%), from €3.6m to €0
- Profit (loss) carried forward +€3.1m
up €3.1m (+3308.9%), from €94,156 to €3.2m
- Other debts -€1.8m
down €1.8m (-95.6%), from €1.9m to €82,967
- Contributions -€1.8m
down €1.8m (-42.5%), from €4.1m to €2.4m
- Financial income +€3.1m
up €3.1m (+2641.1%), from €118,750 to €3.3m
- Depreciation -€39,237
down €39,237 (-100.0%), from €39,237 to €0
- Financial charges +€32,485
up €32,485 (+28.4%), from €114,373 to €146,857
- Gross operating margin -€2,747
down €2,747 (-21.0%), from €13,078 to €10,331
- Other operating charges -€1,401
down €1,401 (-32.8%), from €4,268 to €2,867
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,765,351 | €5,698,205 | -€4.1m | -41.6% |
| Fixed assets | 21/28 | €4,471,598 | €4,424,065 | -€47,533 | -1.1% |
| Tangible fixed assets | 22/27 | €1,971,598 | €1,924,065 | -€47,533 | -2.4% |
| Land and buildings | 22 | €1,889,415 | €1,889,415 | = | 0.0% |
| Furniture and vehicles | 24 | €82,183 | €34,650 | -€47,533 | -57.8% |
| Financial fixed assets | 28 | €2,500,000 | €2,500,000 | = | 0.0% |
| Current assets | 29/58 | €5,293,753 | €1,274,140 | -€4.0m | -75.9% |
| Amounts receivable after more than one year | 29 | €5,200,000 | €0 | -€5.2m | -100.0% |
| Other amounts receivable | 291 | €5,200,000 | €0 | -€5.2m | -100.0% |
| Stocks and contracts in progress | 3 | - | €832,576 | +€832,576 | |
| Stocks | 30/36 | - | €832,576 | +€832,576 | |
| Amounts receivable within one year | 40/41 | €4,971 | €6,194 | +€1,223 | +24.6% |
| Other amounts receivable | 41 | €4,971 | €6,194 | +€1,223 | +24.6% |
| Cash at bank and in hand | 54/58 | €86,581 | €435,371 | +€348,790 | +402.8% |
| Deferred charges and accrued income | 490/1 | €2,201 | €0 | -€2,201 | -100.0% |
| Total equity and liabilities | 10/49 | €9,765,351 | €5,698,205 | -€4.1m | -41.6% |
| Equity | 10/15 | €4,220,723 | €5,586,285 | +€1.4m | +32.4% |
| Contributions | 10/11 | €4,120,000 | €2,370,000 | -€1.8m | -42.5% |
| Reserves | 13 | €6,567 | €6,567 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,567 | €0 | -€6,567 | -100.0% |
| Reserves not available under the articles | 1311 | €6,567 | €0 | -€6,567 | -100.0% |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | - | €6,567 | +€6,567 | |
| Profit (loss) carried forward | 14 | €94,156 | €3,209,718 | +€3.1m | +3308.9% |
| Amounts payable | 17/49 | €5,544,628 | €111,920 | -€5.4m | -98.0% |
| Amounts payable after more than one year | 17 | €3,565,540 | €0 | -€3.6m | -100.0% |
| Other amounts payable | 178/9 | €3,565,540 | €0 | -€3.6m | -100.0% |
| Amounts payable within one year | 42/48 | €1,979,088 | €111,920 | -€1.9m | -94.3% |
| Trade debts | 44 | €508 | €3,155 | +€2,647 | +521.4% |
| Suppliers | 440/4 | €508 | €3,155 | +€2,647 | +521.4% |
| Taxes, remuneration and social security | 45 | €87,099 | €25,798 | -€61,301 | -70.4% |
| Taxes | 450/3 | €87,099 | €25,798 | -€61,301 | -70.4% |
| Other amounts payable | 47/48 | €1,891,481 | €82,967 | -€1.8m | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,237 | €0 | -€39,237 | -100.0% |
| Other operating charges | 640/8 | €4,268 | €2,867 | -€1,401 | -32.8% |
| Gross operating margin | 9900 | €13,078 | €10,331 | -€2,747 | -21.0% |
| Operating profit (loss) | 9901 | -€30,426 | €7,464 | +€37,890 | |
| Financial income | 75/76B | €118,750 | €3,255,051 | +€3.1m | +2641.1% |
| Recurring financial income | 75 | €118,750 | €3,255,051 | +€3.1m | +2641.1% |
| Financial charges | 65/66B | €114,373 | €146,857 | +€32,485 | +28.4% |
| Recurring financial charges | 65 | €114,373 | €146,857 | +€32,485 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | -€26,049 | €3,115,658 | +€3.1m | |
| Income taxes | 67/77 | €923 | €95 | -€828 | -89.7% |
| Profit (loss) for the period | 9904 | -€26,972 | €3,115,563 | +€3.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,972 | €3,115,563 | +€3.1m |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.