CONDUCTO: 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.
CONDUCTO
Largest movements
- Tangible fixed assets +€143,325
up €143,325 (+58.8%), from €243,878 to €387,203
of which Land and buildings: +€100,000
- Receivables within one year +€63,638
up €63,638 (+40.1%), from €158,748 to €222,385
of which Trade receivables: +€62,700
- Cash -€19,768
down €19,768 (-48.6%), from €40,641 to €20,873
mainly Investment in fixed assets (net) (-€170,327) and Short-term financial debts (-€87,500)
- Stocks and contracts -€14,537
down €14,537 (-19.2%), from €75,596 to €61,058
of which Stocks: -€9,645
- Deferred charges and accrued income -€12,943
down €12,943 (-60.3%), from €21,459 to €8,516
- Debts after one year +€200,772
up €200,772 (+149.9%), from €133,971 to €334,742
- Short-term financial debts -€87,500
down €87,500 (-36.8%), from €237,500 to €150,000
- Profit (loss) carried forward +€38,415
up €38,415, from -€26,418 to €11,997
- Tax, wage and social debts +€12,304
up €12,304 (+98.6%), from €12,485 to €24,788
of which Taxes: +€11,887
- Gross operating margin +€83,293
up €83,293 (+110.1%), from €75,683 to €158,975
- Staff costs +€39,487
up €39,487 (+161.0%), from €24,531 to €64,018
- Taxes +€10,596
up €10,596 (+580.6%), from €1,825 to €12,421
- Financial income +€6,105
new in 2025: €6,105
- Write-downs +€3,861
new in 2025: €3,861
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 | €540,320 | €700,035 | +€159,715 | +29.6% |
| Fixed assets | 21/28 | €243,878 | €387,203 | +€143,325 | +58.8% |
| Tangible fixed assets | 22/27 | €243,878 | €387,203 | +€143,325 | +58.8% |
| Land and buildings | 22 | €133,333 | €233,333 | +€100,000 | +75.0% |
| Plant, machinery and equipment | 23 | €9,345 | €6,769 | -€2,577 | -27.6% |
| Furniture and vehicles | 24 | €4,893 | €1,674 | -€3,219 | -65.8% |
| Other tangible fixed assets | 26 | €96,306 | €145,427 | +€49,121 | +51.0% |
| Current assets | 29/58 | €296,443 | €312,833 | +€16,390 | +5.5% |
| Stocks and contracts in progress | 3 | €75,596 | €61,058 | -€14,537 | -19.2% |
| Stocks | 30/36 | €58,455 | €48,810 | -€9,645 | -16.5% |
| Contracts in progress | 37 | €17,141 | €12,248 | -€4,892 | -28.5% |
| Amounts receivable within one year | 40/41 | €158,748 | €222,385 | +€63,638 | +40.1% |
| Trade receivables | 40 | €158,110 | €220,810 | +€62,700 | +39.7% |
| Other amounts receivable | 41 | €637 | €1,575 | +€937 | +147.1% |
| Cash at bank and in hand | 54/58 | €40,641 | €20,873 | -€19,768 | -48.6% |
| Deferred charges and accrued income | 490/1 | €21,459 | €8,516 | -€12,943 | -60.3% |
| Total equity and liabilities | 10/49 | €540,320 | €700,035 | +€159,715 | +29.6% |
| Equity | 10/15 | €98,582 | €136,997 | +€38,415 | +39.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,418 | €11,997 | +€38,415 | |
| Amounts payable | 17/49 | €441,738 | €563,038 | +€121,300 | +27.5% |
| Amounts payable after more than one year | 17 | €133,971 | €334,742 | +€200,772 | +149.9% |
| Financial debts | 170/4 | €133,971 | €334,742 | +€200,772 | +149.9% |
| Amounts payable within one year | 42/48 | €307,768 | €228,296 | -€79,472 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €22,447 | €23,500 | +€1,054 | +4.7% |
| Financial debts | 43 | €237,500 | €150,000 | -€87,500 | -36.8% |
| Credit institutions | 430/8 | €237,500 | €150,000 | -€87,500 | -36.8% |
| Trade debts | 44 | €15,685 | €14,694 | -€991 | -6.3% |
| Suppliers | 440/4 | €15,685 | €14,694 | -€991 | -6.3% |
| Taxes, remuneration and social security | 45 | €12,485 | €24,788 | +€12,304 | +98.6% |
| Taxes | 450/3 | €7,501 | €19,389 | +€11,887 | +158.5% |
| Remuneration and social security | 454/9 | €4,983 | €5,400 | +€417 | +8.4% |
| Other amounts payable | 47/48 | €19,652 | €15,313 | -€4,339 | -22.1% |
| Remuneration, social security and pensions | 62 | €24,531 | €64,018 | +€39,487 | +161.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,152 | €27,002 | +€3,850 | +16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,861 | +€3,861 | |
| Other operating charges | 640/8 | €2,253 | €2,537 | +€284 | +12.6% |
| Gross operating margin | 9900 | €75,683 | €158,975 | +€83,293 | +110.1% |
| Operating profit (loss) | 9901 | €25,747 | €61,558 | +€35,811 | +139.1% |
| Financial income | 75/76B | - | €6,105 | +€6,105 | |
| Recurring financial income | 75 | - | €6,105 | +€6,105 | |
| Financial charges | 65/66B | €17,086 | €16,827 | -€260 | -1.5% |
| Recurring financial charges | 65 | €17,086 | €13,405 | -€3,682 | -21.5% |
| Non-recurring financial charges | 66B | - | €3,422 | +€3,422 | |
| Profit (loss) for the period before taxes | 9903 | €8,660 | €50,836 | +€42,176 | +487.0% |
| Income taxes | 67/77 | €1,825 | €12,421 | +€10,596 | +580.6% |
| Profit (loss) for the period | 9904 | €6,835 | €38,415 | +€31,580 | +462.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,835 | €38,415 | +€31,580 | +462.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.