CONDROMAT: 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.
CONDROMAT
Largest movements
- Receivables within one year +€289,732
up €289,732 (+34.9%), from €830,557 to €1.1m
of which Trade receivables: +€289,677
- Cash +€129,594
up €129,594 (+65.6%), from €197,684 to €327,278
mainly Trade debts (+€238,659) and Other debts (+€189,277)
- Tangible fixed assets -€83,127
down €83,127 (-5.3%), from €1.6m to €1.5m
of which Land and buildings: -€63,102
- Stocks and contracts +€56,240
up €56,240 (+10.7%), from €526,913 to €583,153
- Trade debts +€238,659
up €238,659 (+58.5%), from €407,817 to €646,476
- Reserves -€198,407
down €198,407 (-34.6%), from €573,218 to €374,811
of which Distributable reserves: -€198,407
- Other debts +€189,277
up €189,277 (+25131.7%), from €753 to €190,030
- Profit (loss) carried forward +€166,250
up €166,250 (+159.7%), from €104,087 to €270,337
- Tax, wage and social debts +€90,774
up €90,774 (+51.8%), from €175,319 to €266,093
of which Taxes: +€81,261
- Gross operating margin +€188,766
up €188,766 (+28.2%), from €669,186 to €857,952
- Staff costs +€124,367
up €124,367 (+37.0%), from €335,900 to €460,268
- Taxes +€16,157
up €16,157 (+34.8%), from €46,424 to €62,582
- Depreciation -€9,980
down €9,980 (-10.3%), from €96,586 to €86,606
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 | €3,135,768 | €3,518,875 | +€383,108 | +12.2% |
| Fixed assets | 21/28 | €1,572,757 | €1,488,155 | -€84,602 | -5.4% |
| Intangible fixed assets | 21 | €3,010 | €1,535 | -€1,475 | -49.0% |
| Tangible fixed assets | 22/27 | €1,569,747 | €1,486,621 | -€83,127 | -5.3% |
| Land and buildings | 22 | €1,515,361 | €1,452,258 | -€63,102 | -4.2% |
| Plant, machinery and equipment | 23 | €1,178 | €620 | -€558 | -47.4% |
| Furniture and vehicles | 24 | €33,424 | €20,669 | -€12,755 | -38.2% |
| Leasing and similar rights | 25 | €19,785 | €13,073 | -€6,711 | -33.9% |
| Current assets | 29/58 | €1,563,011 | €2,030,720 | +€467,709 | +29.9% |
| Stocks and contracts in progress | 3 | €526,913 | €583,153 | +€56,240 | +10.7% |
| Stocks | 30/36 | €526,913 | €583,153 | +€56,240 | +10.7% |
| Amounts receivable within one year | 40/41 | €830,557 | €1,120,290 | +€289,732 | +34.9% |
| Trade receivables | 40 | €830,527 | €1,120,204 | +€289,677 | +34.9% |
| Other amounts receivable | 41 | €30 | €85 | +€55 | +184.8% |
| Cash at bank and in hand | 54/58 | €197,684 | €327,278 | +€129,594 | +65.6% |
| Deferred charges and accrued income | 490/1 | €7,857 | €0 | -€7,857 | -100.0% |
| Total equity and liabilities | 10/49 | €3,135,768 | €3,518,875 | +€383,108 | +12.2% |
| Equity | 10/15 | €726,546 | €692,944 | -€33,602 | -4.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €573,218 | €374,811 | -€198,407 | -34.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €560,359 | €361,952 | -€198,407 | -35.4% |
| Profit (loss) carried forward | 14 | €104,087 | €270,337 | +€166,250 | +159.7% |
| Investment grants | 15 | €30,650 | €29,204 | -€1,446 | -4.7% |
| Amounts payable | 17/49 | €2,409,221 | €2,825,931 | +€416,710 | +17.3% |
| Amounts payable after more than one year | 17 | €1,236,073 | €1,168,903 | -€67,170 | -5.4% |
| Financial debts | 170/4 | €1,236,073 | €1,168,903 | -€67,170 | -5.4% |
| Amounts payable within one year | 42/48 | €1,173,148 | €1,657,028 | +€483,880 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €239,258 | €229,429 | -€9,829 | -4.1% |
| Financial debts | 43 | €350,000 | €325,000 | -€25,000 | -7.1% |
| Other loans | 439 | €350,000 | €325,000 | -€25,000 | -7.1% |
| Trade debts | 44 | €407,817 | €646,476 | +€238,659 | +58.5% |
| Suppliers | 440/4 | €407,817 | €646,476 | +€238,659 | +58.5% |
| Taxes, remuneration and social security | 45 | €175,319 | €266,093 | +€90,774 | +51.8% |
| Taxes | 450/3 | €151,107 | €232,368 | +€81,261 | +53.8% |
| Remuneration and social security | 454/9 | €24,213 | €33,725 | +€9,512 | +39.3% |
| Other amounts payable | 47/48 | €753 | €190,030 | +€189,277 | +25131.7% |
| Non-recurring operating income | 76A | - | €7,648 | +€7,648 | |
| Remuneration, social security and pensions | 62 | €335,900 | €460,268 | +€124,367 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,586 | €86,606 | -€9,980 | -10.3% |
| Other operating charges | 640/8 | €16,819 | €8,970 | -€7,849 | -46.7% |
| Gross operating margin | 9900 | €669,186 | €857,952 | +€188,766 | +28.2% |
| Operating profit (loss) | 9901 | €219,880 | €302,108 | +€82,227 | +37.4% |
| Financial income | 75/76B | €818 | €2,576 | +€1,758 | +214.9% |
| Recurring financial income | 75 | €818 | €2,576 | +€1,758 | +214.9% |
| Financial charges | 65/66B | €81,283 | €75,852 | -€5,431 | -6.7% |
| Recurring financial charges | 65 | €81,283 | €75,852 | -€5,431 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €139,415 | €228,832 | +€89,416 | +64.1% |
| Income taxes | 67/77 | €46,424 | €62,582 | +€16,157 | +34.8% |
| Profit (loss) for the period | 9904 | €92,991 | €166,250 | +€73,259 | +78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €92,991 | €166,250 | +€73,259 | +78.8% |
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 9 October 2026 via checked.be.