CONDOR I & S: 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 I & S
Largest movements
- Current investments +€44,278
up €44,278 (+93.6%), from €47,288 to €91,566
- Receivables after one year -€38,500
no longer reported in 2025 (was €38,500)
- Financial fixed assets -€38,278
no longer reported in 2025 (was €38,278)
- Cash +€16,390
up €16,390 (+57.0%), from €28,762 to €45,153
mainly Receivables after one year (+€38,500) and Investment in fixed assets (net) (+€35,187)
- Receivables within one year -€9,022
down €9,022 (-30.6%), from €29,504 to €20,482
of which Other amounts receivable: -€6,139
- Reserves -€40,000
down €40,000 (-21.8%), from €183,751 to €143,751
of which Distributable reserves: -€40,000
- Other debts +€20,191
up €20,191 (+4,370%), from €462 to €20,653
- Profit (loss) carried forward -€13,346
down €13,346 (-60.5%), from -€22,077 to -€35,424
- Tax, wage and social debts +€5,203
up €5,203 (+70.4%), from €7,389 to €12,592
of which Taxes: +€11,203
- Gross operating margin +€8,374
up €8,374 (+111%), from €7,512 to €15,886
- Other operating charges +€2,371
up €2,371 (+135%), from €1,762 to €4,133
- Financial charges -€1,609
no longer reported in 2025 (was €1,609)
- Depreciation -€867
down €867 (-21.0%), from €4,131 to €3,265
- Taxes -€690
no longer reported in 2025 (was €690)
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 | €193,544 | €165,317 | -€28,228 | -14.6% |
| Fixed assets | 21/28 | €46,567 | €8,116 | -€38,451 | -82.6% |
| Tangible fixed assets | 22/27 | €8,288 | €8,116 | -€173 | -2.1% |
| Land and buildings | 22 | €690 | €282 | -€408 | -59.1% |
| Plant, machinery and equipment | 23 | €6,330 | €4,995 | -€1,335 | -21.1% |
| Furniture and vehicles | 24 | €1,269 | €2,839 | +€1,570 | +124% |
| Financial fixed assets | 28 | €38,278 | - | -€38,278 | |
| Current assets | 29/58 | €146,977 | €157,201 | +€10,224 | +7.0% |
| Amounts receivable after more than one year | 29 | €38,500 | - | -€38,500 | |
| Trade receivables | 290 | €38,500 | - | -€38,500 | |
| Amounts receivable within one year | 40/41 | €29,504 | €20,482 | -€9,022 | -30.6% |
| Trade receivables | 40 | €23,338 | €20,455 | -€2,883 | -12.4% |
| Other amounts receivable | 41 | €6,166 | €27 | -€6,139 | -99.6% |
| Current investments | 50/53 | €47,288 | €91,566 | +€44,278 | +93.6% |
| Cash at bank and in hand | 54/58 | €28,762 | €45,153 | +€16,390 | +57.0% |
| Deferred charges and accrued income | 490/1 | €2,923 | - | -€2,923 | |
| Total equity and liabilities | 10/49 | €193,544 | €165,317 | -€28,228 | -14.6% |
| Equity | 10/15 | €180,274 | €126,927 | -€53,346 | -29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €183,751 | €143,751 | -€40,000 | -21.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €181,891 | €141,891 | -€40,000 | -22.0% |
| Profit (loss) carried forward | 14 | -€22,077 | -€35,424 | -€13,346 | -60.5% |
| Amounts payable | 17/49 | €13,270 | €38,389 | +€25,119 | +189% |
| Amounts payable within one year | 42/48 | €13,270 | €38,389 | +€25,119 | +189% |
| Financial debts | 43 | €279 | €80 | -€199 | -71.3% |
| Credit institutions | 430/8 | €279 | €80 | -€199 | -71.3% |
| Trade debts | 44 | €5,141 | €5,065 | -€76 | -1.5% |
| Suppliers | 440/4 | €5,141 | €5,065 | -€76 | -1.5% |
| Taxes, remuneration and social security | 45 | €7,389 | €12,592 | +€5,203 | +70.4% |
| Taxes | 450/3 | €1,389 | €12,592 | +€11,203 | +807% |
| Remuneration and social security | 454/9 | €6,000 | - | -€6,000 | |
| Other amounts payable | 47/48 | €462 | €20,653 | +€20,191 | +4,370% |
| Non-recurring operating income | 76A | €9,535 | - | -€9,535 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,131 | €3,265 | -€867 | -21.0% |
| Other operating charges | 640/8 | €1,762 | €4,133 | +€2,371 | +135% |
| Gross operating margin | 9900 | €7,512 | €15,886 | +€8,374 | +111% |
| Operating profit (loss) | 9901 | €1,619 | €8,489 | +€6,869 | +424% |
| Financial income | 75/76B | €148 | - | -€148 | |
| Recurring financial income | 75 | €148 | - | -€148 | |
| Financial charges | 65/66B | €1,609 | - | -€1,609 | |
| Recurring financial charges | 65 | €1,609 | - | -€1,609 | |
| Profit (loss) for the period before taxes | 9903 | €159 | €8,489 | +€8,330 | +5,247% |
| Income taxes | 67/77 | €690 | - | -€690 | |
| Profit (loss) for the period | 9904 | -€531 | €8,489 | +€9,020 | |
| Profit (loss) for the period to be appropriated | 9905 | -€531 | €8,489 | +€9,020 |
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 19 October 2026 via checked.be.