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 +€29,641
up €29,641 (+128.2%), from €23,130 to €52,771
mainly Net result for the year (+€28,276) and Depreciation (+€8,066)
- Receivables within one year -€5,107
down €5,107 (-89.0%), from €5,736 to €629
of which Trade receivables: -€3,488
- Tangible fixed assets -€4,174
down €4,174 (-27.1%), from €15,413 to €11,239
of which Furniture and vehicles: -€3,960
- Deferred charges and accrued income -€2,867
down €2,867 (-55.6%), from €5,157 to €2,290
- Profit (loss) carried forward +€28,276
up €28,276, from -€19,768 to €8,508
- Tax, wage and social debts -€4,764
down €4,764 (-84.8%), from €5,617 to €853
- Current portion of long-term debt -€3,315
down €3,315 (-91.6%), from €3,618 to €303
- Trade debts -€2,607
down €2,607 (-55.1%), from €4,729 to €2,122
- Gross operating margin +€23,691
up €23,691 (+128.3%), from €18,468 to €42,159
- Taxes +€3,302
up €3,302 (+2951.4%), from €112 to €3,414
- Financial charges -€996
down €996 (-47.6%), from €2,090 to €1,095
- Depreciation +€451
up €451 (+5.9%), from €7,615 to €8,066
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 | €51,371 | €68,624 | +€17,253 | +33.6% |
| Fixed assets | 21/28 | €17,349 | €12,934 | -€4,414 | -25.4% |
| Intangible fixed assets | 21 | €935 | €695 | -€240 | -25.7% |
| Tangible fixed assets | 22/27 | €15,413 | €11,239 | -€4,174 | -27.1% |
| Plant, machinery and equipment | 23 | €7,033 | €6,818 | -€214 | -3.0% |
| Furniture and vehicles | 24 | €8,381 | €4,421 | -€3,960 | -47.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €34,022 | €55,689 | +€21,667 | +63.7% |
| Amounts receivable within one year | 40/41 | €5,736 | €629 | -€5,107 | -89.0% |
| Trade receivables | 40 | €3,488 | - | -€3,488 | |
| Other amounts receivable | 41 | €2,248 | €629 | -€1,619 | -72.0% |
| Cash at bank and in hand | 54/58 | €23,130 | €52,771 | +€29,641 | +128.2% |
| Deferred charges and accrued income | 490/1 | €5,157 | €2,290 | -€2,867 | -55.6% |
| Total equity and liabilities | 10/49 | €51,371 | €68,624 | +€17,253 | +33.6% |
| Equity | 10/15 | €37,032 | €65,308 | +€28,276 | +76.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €53,800 | €53,800 | = | 0.0% |
| Distributable reserves | 133 | €53,800 | €53,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,768 | €8,508 | +€28,276 | |
| Amounts payable | 17/49 | €14,339 | €3,316 | -€11,023 | -76.9% |
| Amounts payable after more than one year | 17 | €303 | - | -€303 | |
| Financial debts | 170/4 | €303 | - | -€303 | |
| Amounts payable within one year | 42/48 | €13,964 | €3,316 | -€10,648 | -76.3% |
| Current portion of amounts payable after more than one year | 42 | €3,618 | €303 | -€3,315 | -91.6% |
| Trade debts | 44 | €4,729 | €2,122 | -€2,607 | -55.1% |
| Suppliers | 440/4 | €4,729 | €2,122 | -€2,607 | -55.1% |
| Taxes, remuneration and social security | 45 | €5,617 | €853 | -€4,764 | -84.8% |
| Taxes | 450/3 | €5,617 | €853 | -€4,764 | -84.8% |
| Other amounts payable | 47/48 | - | €37 | +€37 | |
| Accrued charges and deferred income | 492/3 | €72 | - | -€72 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,615 | €8,066 | +€451 | +5.9% |
| Other operating charges | 640/8 | €1,397 | €1,626 | +€229 | +16.4% |
| Gross operating margin | 9900 | €18,468 | €42,159 | +€23,691 | +128.3% |
| Operating profit (loss) | 9901 | €9,457 | €32,468 | +€23,011 | +243.3% |
| Financial income | 75/76B | €343 | €317 | -€26 | -7.5% |
| Recurring financial income | 75 | €343 | €317 | -€26 | -7.5% |
| Financial charges | 65/66B | €2,090 | €1,095 | -€996 | -47.6% |
| Recurring financial charges | 65 | €2,090 | €1,095 | -€996 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | €7,709 | €31,690 | +€23,981 | +311.1% |
| Income taxes | 67/77 | €112 | €3,414 | +€3,302 | +2951.4% |
| Profit (loss) for the period | 9904 | €7,597 | €28,276 | +€20,679 | +272.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,597 | €28,276 | +€20,679 | +272.2% |
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 30 September 2026 via checked.be.