Condor Management: 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 Management
Largest movements
- Receivables within one year +€90,041
up €90,041 (+1,481%), from €6,080 to €96,120
of which Trade receivables: +€90,000
- Other debts +€148,553
up €148,553 (+1,281%), from €11,600 to €160,153
- Debts after one year -€130,000
down €130,000 (-86.7%), from €150,000 to €20,000
of which Other amounts payable: -€130,000
- Reserves +€64,687
up €64,687 (+441%), from €14,679 to €79,366
- Tax, wage and social debts +€4,612
up €4,612 (+97.3%), from €4,742 to €9,353
- Gross operating margin +€87,431
up €87,431 (+1,439%), from €6,076 to €93,507
- Taxes +€22,046
up €22,046 (+2,633%), from €837 to €22,883
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 | €185,035 | €272,721 | +€87,686 | +47.4% |
| Fixed assets | 21/28 | €150,000 | €150,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €35,035 | €122,721 | +€87,686 | +250% |
| Amounts receivable within one year | 40/41 | €6,080 | €96,120 | +€90,041 | +1,481% |
| Trade receivables | 40 | €6,050 | €96,050 | +€90,000 | +1,488% |
| Other amounts receivable | 41 | €30 | €70 | +€41 | +136% |
| Cash at bank and in hand | 54/58 | €26,879 | €24,309 | -€2,571 | -9.6% |
| Deferred charges and accrued income | 490/1 | €2,076 | €2,292 | +€216 | +10.4% |
| Total equity and liabilities | 10/49 | €185,035 | €272,721 | +€87,686 | +47.4% |
| Equity | 10/15 | €17,679 | €82,366 | +€64,687 | +366% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €14,679 | €79,366 | +€64,687 | +441% |
| Distributable reserves | 133 | €14,679 | €79,366 | +€64,687 | +441% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €167,356 | €190,355 | +€22,999 | +13.7% |
| Amounts payable after more than one year | 17 | €150,000 | €20,000 | -€130,000 | -86.7% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €150,000 | €20,000 | -€130,000 | -86.7% |
| Amounts payable within one year | 42/48 | €16,590 | €169,908 | +€153,319 | +924% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €248 | €402 | +€154 | +62.0% |
| Suppliers | 440/4 | €248 | €402 | +€154 | +62.0% |
| Taxes, remuneration and social security | 45 | €4,742 | €9,353 | +€4,612 | +97.3% |
| Taxes | 450/3 | €4,742 | €9,353 | +€4,612 | +97.3% |
| Other amounts payable | 47/48 | €11,600 | €160,153 | +€148,553 | +1,281% |
| Accrued charges and deferred income | 492/3 | €766 | €446 | -€320 | -41.7% |
| Non-recurring operating income | 76A | €5,586 | €0 | -€5,586 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €799 | €1,457 | +€658 | +82.4% |
| Gross operating margin | 9900 | €6,076 | €93,507 | +€87,431 | +1,439% |
| Operating profit (loss) | 9901 | €5,278 | €92,051 | +€86,773 | +1,644% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,037 | €3,648 | +€611 | +20.1% |
| Recurring financial charges | 65 | €3,037 | €3,648 | +€611 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €2,240 | €88,403 | +€86,163 | +3,846% |
| Income taxes | 67/77 | €837 | €22,883 | +€22,046 | +2,633% |
| Profit (loss) for the period | 9904 | €1,403 | €65,520 | +€64,117 | +4,570% |
| Profit (loss) for the period to be appropriated | 9905 | €1,403 | €65,520 | +€64,117 | +4,570% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.