CSD GROEP: 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.
CSD GROEP
Largest movements
- Receivables within one year +€255,894
up €255,894 (+128.6%), from €199,047 to €454,941
of which Trade receivables: +€270,748
- Cash +€37,142
up €37,142 (+9.0%), from €411,119 to €448,260
mainly Net result for the year (+€582,901) and Other debts (+€158,670)
- Other debts +€158,670
up €158,670 (+46.1%), from €344,457 to €503,126
- Reserves +€79,775
up €79,775 (+8.2%), from €971,008 to €1.1m
- Tax, wage and social debts +€57,989
up €57,989 (+7090.0%), from €818 to €58,807
- Gross operating margin +€284,483
up €284,483 (+92.4%), from €307,767 to €592,249
- Financial income -€156,502
down €156,502 (-84.3%), from €185,577 to €29,075
- Taxes +€17,174
up €17,174 (+85.6%), from €20,054 to €37,228
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 | €2,800,868 | €3,097,504 | +€296,636 | +10.6% |
| Fixed assets | 21/28 | €1,540,703 | €1,540,703 | = | 0.0% |
| Financial fixed assets | 28 | €1,540,703 | €1,540,703 | = | 0.0% |
| Current assets | 29/58 | €1,260,165 | €1,556,801 | +€296,636 | +23.5% |
| Amounts receivable within one year | 40/41 | €199,047 | €454,941 | +€255,894 | +128.6% |
| Trade receivables | 40 | €184,193 | €454,941 | +€270,748 | +147.0% |
| Other amounts receivable | 41 | €14,853 | - | -€14,853 | |
| Current investments | 50/53 | €650,000 | €653,600 | +€3,600 | +0.6% |
| Cash at bank and in hand | 54/58 | €411,119 | €448,260 | +€37,142 | +9.0% |
| Total equity and liabilities | 10/49 | €2,800,868 | €3,097,504 | +€296,636 | +10.6% |
| Equity | 10/15 | €2,453,008 | €2,532,783 | +€79,775 | +3.3% |
| Contributions | 10/11 | €1,482,000 | €1,482,000 | = | 0.0% |
| Reserves | 13 | €971,008 | €1,050,783 | +€79,775 | +8.2% |
| Distributable reserves | 133 | €971,008 | €1,050,783 | +€79,775 | +8.2% |
| Amounts payable | 17/49 | €347,860 | €564,721 | +€216,861 | +62.3% |
| Amounts payable within one year | 42/48 | €345,274 | €561,933 | +€216,658 | +62.7% |
| Taxes, remuneration and social security | 45 | €818 | €58,807 | +€57,989 | +7090.0% |
| Taxes | 450/3 | €818 | €58,807 | +€57,989 | +7090.0% |
| Other amounts payable | 47/48 | €344,457 | €503,126 | +€158,670 | +46.1% |
| Accrued charges and deferred income | 492/3 | €2,585 | €2,788 | +€203 | +7.8% |
| Other operating charges | 640/8 | €1,022 | €1,030 | +€7 | +0.7% |
| Gross operating margin | 9900 | €307,767 | €592,249 | +€284,483 | +92.4% |
| Operating profit (loss) | 9901 | €306,744 | €591,220 | +€284,476 | +92.7% |
| Financial income | 75/76B | €185,577 | €29,075 | -€156,502 | -84.3% |
| Recurring financial income | 75 | €185,577 | €29,075 | -€156,502 | -84.3% |
| Financial charges | 65/66B | €2,729 | €166 | -€2,563 | -93.9% |
| Recurring financial charges | 65 | €2,729 | €166 | -€2,563 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | €489,592 | €620,130 | +€130,537 | +26.7% |
| Income taxes | 67/77 | €20,054 | €37,228 | +€17,174 | +85.6% |
| Profit (loss) for the period | 9904 | €469,538 | €582,901 | +€113,363 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €469,538 | €582,901 | +€113,363 | +24.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.