CONDOR PROJECTS: 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 PROJECTS
Largest movements
- Cash -€54,862
down €54,862 (-78.6%), from €69,823 to €14,961
mainly Other debts (-€31,491) and Tax, wage and social debts (-€24,605)
- Other debts -€31,491
down €31,491 (-30.7%), from €102,687 to €71,197
- Tax, wage and social debts -€24,605
down €24,605 (-67.8%), from €36,308 to €11,703
of which Taxes: -€17,852
- Accrued charges and deferred income +€2,696
new in 2025: €2,696
- Turnover -€162,667
no longer reported in 2025 (was €162,667)
- Purchases and services -€124,162
no longer reported in 2025 (was €124,162)
- Gross operating margin -€25,030
down €25,030 (-59.8%), from €41,865 to €16,835
- Taxes -€4,003
down €4,003 (-52.1%), from €7,678 to €3,675
- Financial charges +€3,497
up €3,497 (+1652.2%), from €212 to €3,708
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 | €146,375 | €91,152 | -€55,223 | -37.7% |
| Fixed assets | 21/28 | €10,278 | €10,347 | +€69 | +0.7% |
| Tangible fixed assets | 22/27 | €10,278 | €10,347 | +€69 | +0.7% |
| Land and buildings | 22 | €4,724 | €3,940 | -€784 | -16.6% |
| Plant, machinery and equipment | 23 | - | €980 | +€980 | |
| Furniture and vehicles | 24 | €3,523 | €3,870 | +€348 | +9.9% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €2,032 | €1,557 | -€475 | -23.4% |
| Current assets | 29/58 | €136,097 | €80,805 | -€55,292 | -40.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €66,110 | €65,844 | -€266 | -0.4% |
| Trade receivables | 40 | €63,727 | €12,100 | -€51,627 | -81.0% |
| Other amounts receivable | 41 | €2,383 | €53,744 | +€51,361 | +2154.9% |
| Cash at bank and in hand | 54/58 | €69,823 | €14,961 | -€54,862 | -78.6% |
| Deferred charges and accrued income | 490/1 | €163 | €0 | -€163 | -100.0% |
| Total equity and liabilities | 10/49 | €146,375 | €91,152 | -€55,223 | -37.7% |
| Equity | 10/15 | €5,735 | €5,000 | -€735 | -12.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €735 | €0 | -€735 | -100.0% |
| Distributable reserves | 133 | €735 | €0 | -€735 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €140,640 | €86,152 | -€54,488 | -38.7% |
| Amounts payable within one year | 42/48 | €140,640 | €83,456 | -€57,184 | -40.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,644 | €556 | -€1,088 | -66.2% |
| Suppliers | 440/4 | €1,644 | €556 | -€1,088 | -66.2% |
| Taxes, remuneration and social security | 45 | €36,308 | €11,703 | -€24,605 | -67.8% |
| Taxes | 450/3 | €22,766 | €4,915 | -€17,852 | -78.4% |
| Remuneration and social security | 454/9 | €13,542 | €6,789 | -€6,753 | -49.9% |
| Other amounts payable | 47/48 | €102,687 | €71,197 | -€31,491 | -30.7% |
| Accrued charges and deferred income | 492/3 | - | €2,696 | +€2,696 | |
| Turnover | 70 | €162,667 | - | -€162,667 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €124,162 | - | -€124,162 | |
| Remuneration, social security and pensions | 62 | €0 | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,729 | €3,928 | -€2,801 | -41.6% |
| Other operating charges | 640/8 | €1,247 | €1,737 | +€490 | +39.2% |
| Non-recurring operating charges | 66A | €332 | €0 | -€332 | -100.0% |
| Gross operating margin | 9900 | €41,865 | €16,835 | -€25,030 | -59.8% |
| Operating profit (loss) | 9901 | €33,557 | €10,920 | -€22,637 | -67.5% |
| Financial income | 75/76B | €281 | €3,697 | +€3,416 | +1214.3% |
| Recurring financial income | 75 | €281 | €3,697 | +€3,416 | +1214.3% |
| Financial charges | 65/66B | €212 | €3,708 | +€3,497 | +1652.2% |
| Recurring financial charges | 65 | €212 | €3,708 | +€3,497 | +1652.2% |
| Profit (loss) for the period before taxes | 9903 | €33,626 | €10,909 | -€22,717 | -67.6% |
| Income taxes | 67/77 | €7,678 | €3,675 | -€4,003 | -52.1% |
| Profit (loss) for the period | 9904 | €25,949 | €7,234 | -€18,715 | -72.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,949 | €7,234 | -€18,715 | -72.1% |
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 8 October 2026 via checked.be.