CONDOR IMO-FINANCE: what changed
What changed
CONDOR IMO-FINANCE
NACE 43.120, Site preparation
filed annual accounts (NBB)
Net result for the year
-€33,496
2024 · -€83,673+€50,177
Equity
€571,004
2024 · €604,500-€33,496
Cash
€670
2024 · -+€670
Balance sheet total
€1.7m
2024 · €1.9m-€158,099
Largest movements
Assets
- Tangible fixed assets -€188,328
down €188,328 (-13.9%), from €1.4m to €1.2m
of which Land and buildings: -€164,832
- Receivables within one year +€30,215
up €30,215 (+7.6%), from €399,683 to €429,898
of which Other amounts receivable: +€15,532
Equity and liabilities
- Debts after one year -€84,616
down €84,616 (-9.4%), from €899,999 to €815,382
- Short-term financial debts +€52,481
up €52,481 (+3,150%), from €1,666 to €54,148
- Trade debts -€44,603
down €44,603 (-37.2%), from €119,852 to €75,249
- Profit (loss) carried forward -€30,788
down €30,788 (-97.7%), from €31,519 to €731
- Provisions -€27,669
down €27,669 (-35.9%), from €77,065 to €49,397
Income statement
- Gross operating margin +€45,041
up €45,041 (+56.7%), from €79,398 to €124,439
- Financial charges +€11,778
up €11,778 (+55.5%), from €21,214 to €32,992
- Depreciation +€11,163
up €11,163 (+8.7%), from €127,787 to €138,950
- Other operating charges -€6,194
down €6,194 (-22.8%), from €27,156 to €20,962
- Financial income -€1,296
down €1,296 (-15.1%), from €8,596 to €7,300
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€83,673
Gross operating margin
+€45,041
Depreciation
-€11,163
Other operating charges
+€6,194
Financial income
-€1,296
Financial charges
-€11,778
Taxes
+€144
Deferred taxes and other
+€23,036
Result 2025
-€33,496
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€11,109
Investment
+€49,378
Financing
-€37,599
Cash 2024
€0
From operations (derived)
-€11,109
Net result for the year
-€33,496
Depreciation
+€138,950
Receivables after one year
+€4,601
Receivables within one year
-€30,215
Deferred charges and accrued income
-€3,945
Provisions
-€27,669
Trade debts
-€44,603
Tax, wage and social debts
-€15,932
Other debts
+€1,200
Investment (derived)
+€49,378
Investment in fixed assets (net)
+€49,378
Financing
-€37,599
Debts after one year
-€84,616
Current portion of long-term debt
-€5,464
Short-term financial debts
+€52,481
Cash 2025
€670
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,902,640 | €1,744,541 | -€158,099 | -8.3% |
| Fixed assets | 21/28 | €1,360,797 | €1,172,470 | -€188,328 | -13.8% |
| Tangible fixed assets | 22/27 | €1,356,149 | €1,167,821 | -€188,328 | -13.9% |
| Land and buildings | 22 | €591,893 | €427,061 | -€164,832 | -27.8% |
| Plant, machinery and equipment | 23 | €734,095 | €725,355 | -€8,740 | -1.2% |
| Furniture and vehicles | 24 | €30,161 | €15,405 | -€14,756 | -48.9% |
| Financial fixed assets | 28 | €4,649 | €4,649 | = | 0.0% |
| Current assets | 29/58 | €541,843 | €572,072 | +€30,229 | +5.6% |
| Amounts receivable after more than one year | 29 | €120,000 | €115,399 | -€4,601 | -3.8% |
| Other amounts receivable | 291 | €120,000 | €115,399 | -€4,601 | -3.8% |
| Amounts receivable within one year | 40/41 | €399,683 | €429,898 | +€30,215 | +7.6% |
| Trade receivables | 40 | €62,510 | €77,193 | +€14,683 | +23.5% |
| Other amounts receivable | 41 | €337,173 | €352,705 | +€15,532 | +4.6% |
| Cash at bank and in hand | 54/58 | - | €670 | +€670 | |
| Deferred charges and accrued income | 490/1 | €22,160 | €26,105 | +€3,945 | +17.8% |
| Total equity and liabilities | 10/49 | €1,902,640 | €1,744,541 | -€158,099 | -8.3% |
| Equity | 10/15 | €604,500 | €571,004 | -€33,496 | -5.5% |
| Contributions | 10/11 | €446,483 | €446,483 | = | 0.0% |
| Capital | 10 | €444,500 | €444,500 | = | 0.0% |
| Issued capital | 100 | €444,500 | €444,500 | = | 0.0% |
| Contributions outside capital | 11 | €1,983 | €1,983 | = | 0.0% |
| Share premium | 1100/10 | €1,983 | €1,983 | = | 0.0% |
| Reserves | 13 | €126,498 | €123,790 | -€2,708 | -2.1% |
| Non-distributable reserves | 130/1 | €1,270 | €44,450 | +€43,180 | +3,401% |
| Legal reserve | 130 | €1,270 | €44,450 | +€43,180 | +3,401% |
| Tax-exempt reserves | 132 | €125,228 | €79,340 | -€45,888 | -36.6% |
| Profit (loss) carried forward | 14 | €31,519 | €731 | -€30,788 | -97.7% |
| Provisions and deferred taxes | 16 | €77,065 | €49,397 | -€27,669 | -35.9% |
| Deferred taxes | 168 | €77,065 | €49,397 | -€27,669 | -35.9% |
| Amounts payable | 17/49 | €1,221,075 | €1,124,141 | -€96,934 | -7.9% |
| Amounts payable after more than one year | 17 | €899,999 | €815,382 | -€84,616 | -9.4% |
| Financial debts | 170/4 | €899,999 | €815,382 | -€84,616 | -9.4% |
| Amounts payable within one year | 42/48 | €321,076 | €308,759 | -€12,318 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €145,980 | €140,516 | -€5,464 | -3.7% |
| Financial debts | 43 | €1,666 | €54,148 | +€52,481 | +3,150% |
| Credit institutions | 430/8 | €1,666 | €54,148 | +€52,481 | +3,150% |
| Trade debts | 44 | €119,852 | €75,249 | -€44,603 | -37.2% |
| Suppliers | 440/4 | €119,852 | €75,249 | -€44,603 | -37.2% |
| Taxes, remuneration and social security | 45 | €48,864 | €32,932 | -€15,932 | -32.6% |
| Taxes | 450/3 | €45,144 | €32,932 | -€12,212 | -27.1% |
| Remuneration and social security | 454/9 | €3,720 | - | -€3,720 | |
| Other amounts payable | 47/48 | €4,714 | €5,914 | +€1,200 | +25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,787 | €138,950 | +€11,163 | +8.7% |
| Other operating charges | 640/8 | €27,156 | €20,962 | -€6,194 | -22.8% |
| Gross operating margin | 9900 | €79,398 | €124,439 | +€45,041 | +56.7% |
| Operating profit (loss) | 9901 | -€75,545 | -€35,473 | +€40,072 | +53.0% |
| Financial income | 75/76B | €8,596 | €7,300 | -€1,296 | -15.1% |
| Recurring financial income | 75 | €8,596 | €7,300 | -€1,296 | -15.1% |
| Financial charges | 65/66B | €21,214 | €32,992 | +€11,778 | +55.5% |
| Recurring financial charges | 65 | €21,214 | €32,992 | +€11,778 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | -€88,163 | -€61,165 | +€26,998 | +30.6% |
| Transfer from deferred taxes | 780 | €4,633 | €27,669 | +€23,036 | +497% |
| Income taxes | 67/77 | €144 | - | -€144 | |
| Profit (loss) for the period | 9904 | -€83,673 | -€33,496 | +€50,177 | +60.0% |
| Transfer from tax-exempt reserves | 789 | €12,875 | €45,888 | +€33,013 | +256% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,798 | €12,392 | +€83,190 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.