CONDUX: 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.
CONDUX
Largest movements
- Cash -€176,635
down €176,635 (-97.4%), from €181,347 to €4,712
mainly Investment in fixed assets (net) (-€120,355) and Stocks and contracts (-€93,886)
- Tangible fixed assets +€119,754
up €119,754 (+29.9%), from €400,606 to €520,360
of which Assets under construction and advance payments: +€118,783
- Stocks and contracts +€93,886
up €93,886 (+32.5%), from €288,474 to €382,360
- Debts after one year +€83,564
up €83,564 (+15.2%), from €549,082 to €632,647
of which Financial debts: +€83,564
- Other debts -€44,458
down €44,458 (-18.6%), from €238,946 to €194,487
- Financial income -€717,115
no longer reported in 2025 (was €717,115)
- Other operating charges +€11,832
up €11,832 (+506.0%), from €2,338 to €14,170
- Taxes -€8,774
down €8,774 (-73.3%), from €11,963 to €3,189
- Gross operating margin -€8,275
down €8,275 (-13.7%), from €60,411 to €52,136
- Financial charges -€6,643
down €6,643 (-19.4%), from €34,180 to €27,537
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 | €1,732,752 | €1,759,018 | +€26,265 | +1.5% |
| Fixed assets | 21/28 | €435,706 | €555,460 | +€119,754 | +27.5% |
| Tangible fixed assets | 22/27 | €400,606 | €520,360 | +€119,754 | +29.9% |
| Furniture and vehicles | 24 | €762 | €1,733 | +€971 | +127.4% |
| Assets under construction and advance payments | 27 | €399,844 | €518,627 | +€118,783 | +29.7% |
| Financial fixed assets | 28 | €35,100 | €35,100 | = | 0.0% |
| Current assets | 29/58 | €1,297,046 | €1,203,558 | -€93,488 | -7.2% |
| Stocks and contracts in progress | 3 | €288,474 | €382,360 | +€93,886 | +32.5% |
| Stocks | 30/36 | €288,474 | €382,360 | +€93,886 | +32.5% |
| Amounts receivable within one year | 40/41 | €824,103 | €811,635 | -€12,468 | -1.5% |
| Trade receivables | 40 | €9,874 | €19,155 | +€9,281 | +94.0% |
| Other amounts receivable | 41 | €814,229 | €792,480 | -€21,749 | -2.7% |
| Cash at bank and in hand | 54/58 | €181,347 | €4,712 | -€176,635 | -97.4% |
| Deferred charges and accrued income | 490/1 | €3,123 | €4,851 | +€1,728 | +55.3% |
| Total equity and liabilities | 10/49 | €1,732,752 | €1,759,018 | +€26,265 | +1.5% |
| Equity | 10/15 | €874,585 | €881,225 | +€6,639 | +0.8% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €1,860 | - | -€1,860 | |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €854,125 | €860,765 | +€6,639 | +0.8% |
| Amounts payable | 17/49 | €858,167 | €877,793 | +€19,626 | +2.3% |
| Amounts payable after more than one year | 17 | €549,082 | €632,647 | +€83,564 | +15.2% |
| Financial debts | 170/4 | €547,582 | €631,147 | +€83,564 | +15.3% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €293,702 | €245,147 | -€48,555 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €23,719 | €25,444 | +€1,725 | +7.3% |
| Trade debts | 44 | €3,378 | €6,036 | +€2,658 | +78.7% |
| Suppliers | 440/4 | €3,378 | €6,036 | +€2,658 | +78.7% |
| Taxes, remuneration and social security | 45 | €27,659 | €19,179 | -€8,480 | -30.7% |
| Taxes | 450/3 | €20,427 | €11,946 | -€8,480 | -41.5% |
| Remuneration and social security | 454/9 | €7,232 | €7,232 | = | 0.0% |
| Other amounts payable | 47/48 | €238,946 | €194,487 | -€44,458 | -18.6% |
| Accrued charges and deferred income | 492/3 | €15,383 | - | -€15,383 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339 | €601 | +€262 | +77.3% |
| Other operating charges | 640/8 | €2,338 | €14,170 | +€11,832 | +506.0% |
| Gross operating margin | 9900 | €60,411 | €52,136 | -€8,275 | -13.7% |
| Operating profit (loss) | 9901 | €57,734 | €37,365 | -€20,369 | -35.3% |
| Financial income | 75/76B | €717,115 | - | -€717,115 | |
| Recurring financial income | 75 | €717,115 | - | -€717,115 | |
| Financial charges | 65/66B | €34,180 | €27,537 | -€6,643 | -19.4% |
| Recurring financial charges | 65 | €34,180 | €27,537 | -€6,643 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €740,669 | €9,828 | -€730,840 | -98.7% |
| Income taxes | 67/77 | €11,963 | €3,189 | -€8,774 | -73.3% |
| Profit (loss) for the period | 9904 | €728,706 | €6,639 | -€722,066 | -99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €728,706 | €6,639 | -€722,066 | -99.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.