CONDOR INVESTMENT: what changed
CONDOR INVESTMENT
Largest movements
- Cash -€37,374
down €37,374 (-32.5%), from €114,965 to €77,591
mainly Tax, wage and social debts (-€16,001) and Receivables within one year (-€13,328)
- Receivables within one year +€13,328
up €13,328 (+239%), from €5,565 to €18,894
of which Other amounts receivable: +€14,541
- Financial fixed assets +€3,600
up €3,600 (+180%), from €2,000 to €5,600
- Tax, wage and social debts -€16,001
down €16,001 (-52.3%), from €30,592 to €14,591
- Debts after one year -€6,173
down €6,173 (-36.1%), from €17,096 to €10,923
- Trade debts +€1,664
up €1,664 (+102%), from €1,624 to €3,288
- Gross operating margin -€34,327
down €34,327 (-76.8%), from €44,675 to €10,347
- Taxes -€9,844
down €9,844 (-84.3%), from €11,674 to €1,830
- Other operating charges +€521
up €521 (+35.2%), from €1,483 to €2,004
- Financial charges -€491
down €491 (-11.6%), from €4,228 to €3,737
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €131,070 | €111,777 | -€19,293 | -14.7% |
| Fixed assets | 21/28 | €2,000 | €6,752 | +€4,752 | +238% |
| Tangible fixed assets | 22/27 | - | €1,152 | +€1,152 | |
| Plant, machinery and equipment | 23 | - | €1,152 | +€1,152 | |
| Financial fixed assets | 28 | €2,000 | €5,600 | +€3,600 | +180% |
| Current assets | 29/58 | €129,070 | €105,024 | -€24,046 | -18.6% |
| Stocks and contracts in progress | 3 | €8,539 | €8,539 | = | 0.0% |
| Stocks | 30/36 | €8,539 | €8,539 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,565 | €18,894 | +€13,328 | +239% |
| Trade receivables | 40 | €1,213 | - | -€1,213 | |
| Other amounts receivable | 41 | €4,353 | €18,894 | +€14,541 | +334% |
| Cash at bank and in hand | 54/58 | €114,965 | €77,591 | -€37,374 | -32.5% |
| Total equity and liabilities | 10/49 | €131,070 | €111,777 | -€19,293 | -14.7% |
| Equity | 10/15 | €76,093 | €76,803 | +€710 | +0.9% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €72,593 | €72,593 | = | 0.0% |
| Distributable reserves | 133 | €72,593 | €72,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €710 | +€710 | |
| Amounts payable | 17/49 | €54,977 | €34,974 | -€20,003 | -36.4% |
| Amounts payable after more than one year | 17 | €17,096 | €10,923 | -€6,173 | -36.1% |
| Financial debts | 170/4 | €17,096 | €10,923 | -€6,173 | -36.1% |
| Amounts payable within one year | 42/48 | €37,881 | €24,051 | -€13,830 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €5,666 | €6,173 | +€507 | +8.9% |
| Trade debts | 44 | €1,624 | €3,288 | +€1,664 | +102% |
| Suppliers | 440/4 | €1,624 | €3,288 | +€1,664 | +102% |
| Taxes, remuneration and social security | 45 | €30,592 | €14,591 | -€16,001 | -52.3% |
| Taxes | 450/3 | €30,592 | €14,591 | -€16,001 | -52.3% |
| Non-recurring operating income | 76A | - | €504 | +€504 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95 | €20 | -€74 | -78.5% |
| Other operating charges | 640/8 | €1,483 | €2,004 | +€521 | +35.2% |
| Non-recurring operating charges | 66A | - | €2,126 | +€2,126 | |
| Gross operating margin | 9900 | €44,675 | €10,347 | -€34,327 | -76.8% |
| Operating profit (loss) | 9901 | €43,097 | €6,197 | -€36,900 | -85.6% |
| Financial income | 75/76B | €0 | €80 | +€80 | +20,403% |
| Recurring financial income | 75 | €0 | €80 | +€80 | +20,403% |
| Financial charges | 65/66B | €4,228 | €3,737 | -€491 | -11.6% |
| Recurring financial charges | 65 | €4,228 | €3,737 | -€491 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €38,870 | €2,540 | -€36,330 | -93.5% |
| Income taxes | 67/77 | €11,674 | €1,830 | -€9,844 | -84.3% |
| Profit (loss) for the period | 9904 | €27,196 | €710 | -€26,486 | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,196 | €710 | -€26,486 | -97.4% |
Next steps
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 8 November 2026 via checked.be.