CONDROZ CONSULT: 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.
CONDROZ CONSULT
Largest movements
- Tangible fixed assets +€233,263
up €233,263 (+1,135%), from €20,553 to €253,816
of which Other tangible fixed assets: +€240,270
- Cash -€87,874
down €87,874 (-63.4%), from €138,529 to €50,655
mainly Investment in fixed assets (net) (-€253,107) and Receivables within one year (-€73,872)
- Receivables within one year +€73,872
up €73,872 (+1,463%), from €5,049 to €78,920
of which Other amounts receivable: +€55,704
- Deferred charges and accrued income +€40,094
up €40,094 (+33.0%), from €121,315 to €161,409
- Intangible fixed assets -€22,500
down €22,500 (-13.1%), from €172,372 to €149,872
- Profit (loss) carried forward +€107,241
up €107,241, from -€107,241 to €0
- Debts after one year +€69,337
up €69,337 (+84.9%), from €81,667 to €151,004
- Tax, wage and social debts +€41,143
up €41,143 (+149%), from €27,680 to €68,823
of which Taxes: +€32,652
- Other debts -€35,573
down €35,573 (-100.0%), from €35,588 to €15
- Current portion of long-term debt +€30,325
up €30,325 (+89.5%), from €33,863 to €64,188
- Staff costs +€66,559
up €66,559 (+40.6%), from €163,890 to €230,449
- Gross operating margin +€52,958
up €52,958 (+13.6%), from €389,595 to €442,553
- Depreciation +€24,931
up €24,931 (+143%), from €17,413 to €42,344
- Taxes +€24,525
up €24,525 (+189%), from €13,005 to €37,530
- Financial income -€18,592
down €18,592 (-95.3%), from €19,505 to €913
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 | €457,818 | €694,672 | +€236,854 | +51.7% |
| Fixed assets | 21/28 | €192,924 | €403,687 | +€210,763 | +109% |
| Intangible fixed assets | 21 | €172,372 | €149,872 | -€22,500 | -13.1% |
| Tangible fixed assets | 22/27 | €20,553 | €253,816 | +€233,263 | +1,135% |
| Plant, machinery and equipment | 23 | €3,036 | €2,493 | -€543 | -17.9% |
| Furniture and vehicles | 24 | €183 | €11,052 | +€10,869 | +5,928% |
| Other tangible fixed assets | 26 | - | €240,270 | +€240,270 | |
| Assets under construction and advance payments | 27 | €17,333 | €0 | -€17,333 | -100% |
| Current assets | 29/58 | €264,893 | €290,985 | +€26,092 | +9.8% |
| Amounts receivable within one year | 40/41 | €5,049 | €78,920 | +€73,872 | +1,463% |
| Trade receivables | 40 | €5,045 | €23,212 | +€18,168 | +360% |
| Other amounts receivable | 41 | €4 | €55,708 | +€55,704 | +1,485,445% |
| Cash at bank and in hand | 54/58 | €138,529 | €50,655 | -€87,874 | -63.4% |
| Deferred charges and accrued income | 490/1 | €121,315 | €161,409 | +€40,094 | +33.0% |
| Total equity and liabilities | 10/49 | €457,818 | €694,672 | +€236,854 | +51.7% |
| Equity | 10/15 | €268,844 | €389,120 | +€120,276 | +44.7% |
| Contributions | 10/11 | €376,085 | €376,085 | = | 0.0% |
| Reserves | 13 | - | €13,035 | +€13,035 | |
| Distributable reserves | 133 | - | €13,035 | +€13,035 | |
| Profit (loss) carried forward | 14 | -€107,241 | €0 | +€107,241 | |
| Amounts payable | 17/49 | €188,974 | €305,552 | +€116,578 | +61.7% |
| Amounts payable after more than one year | 17 | €81,667 | €151,004 | +€69,337 | +84.9% |
| Financial debts | 170/4 | €81,667 | €151,004 | +€69,337 | +84.9% |
| Amounts payable within one year | 42/48 | €105,806 | €154,149 | +€48,343 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €33,863 | €64,188 | +€30,325 | +89.5% |
| Trade debts | 44 | €8,674 | €21,123 | +€12,449 | +144% |
| Suppliers | 440/4 | €8,674 | €21,123 | +€12,449 | +144% |
| Taxes, remuneration and social security | 45 | €27,680 | €68,823 | +€41,143 | +149% |
| Taxes | 450/3 | €8,334 | €40,986 | +€32,652 | +392% |
| Remuneration and social security | 454/9 | €19,347 | €27,837 | +€8,490 | +43.9% |
| Other amounts payable | 47/48 | €35,588 | €15 | -€35,573 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,500 | €398 | -€1,102 | -73.4% |
| Remuneration, social security and pensions | 62 | €163,890 | €230,449 | +€66,559 | +40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,413 | €42,344 | +€24,931 | +143% |
| Other operating charges | 640/8 | €1,706 | €5,279 | +€3,572 | +209% |
| Gross operating margin | 9900 | €389,595 | €442,553 | +€52,958 | +13.6% |
| Operating profit (loss) | 9901 | €206,586 | €164,481 | -€42,104 | -20.4% |
| Financial income | 75/76B | €19,505 | €913 | -€18,592 | -95.3% |
| Recurring financial income | 75 | €19,505 | €913 | -€18,592 | -95.3% |
| Financial charges | 65/66B | €5,649 | €7,588 | +€1,939 | +34.3% |
| Recurring financial charges | 65 | €5,649 | €7,588 | +€1,939 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | €220,442 | €157,807 | -€62,635 | -28.4% |
| Income taxes | 67/77 | €13,005 | €37,530 | +€24,525 | +189% |
| Profit (loss) for the period | 9904 | €207,436 | €120,276 | -€87,160 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €207,436 | €120,276 | -€87,160 | -42.0% |
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 30 October 2026 via checked.be.