CSDG: 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.
CSDG
Largest movements
- Tangible fixed assets +€89,643
up €89,643 (+671.3%), from €13,353 to €102,996
of which Land and buildings: +€96,436
- Receivables within one year -€32,087
down €32,087 (-87.9%), from €36,513 to €4,426
of which Trade receivables: -€30,702
- Stocks and contracts -€2,498
down €2,498 (-77.3%), from €3,230 to €733
- Cash -€1,392
down €1,392 (-81.9%), from €1,700 to €309
mainly Investment in fixed assets (net) (-€98,541) and Trade debts (-€29,414)
- Debts after one year +€81,966
new in 2024: €81,966
- Trade debts -€29,414
down €29,414 (-93.8%), from €31,364 to €1,950
- Profit (loss) carried forward -€16,611
down €16,611 (-125.6%), from -€13,222 to -€29,833
- Other debts +€5,037
up €5,037 (+35.4%), from €14,226 to €19,263
- Current portion of long-term debt +€4,479
up €4,479 (+1285.8%), from €348 to €4,827
- Gross operating margin -€16,980
down €16,980, from €14,115 to -€2,865
- Depreciation -€5,269
down €5,269 (-36.6%), from €14,414 to €9,145
- Financial charges +€3,872
up €3,872 (+1110.8%), from €349 to €4,221
- Financial income +€572
up €572 (+839.0%), from €68 to €640
- Other operating charges -€153
down €153 (-13.0%), from €1,173 to €1,020
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,439 | €110,056 | +€52,618 | +91.6% |
| Formation expenses | 20 | €189 | - | -€189 | |
| Fixed assets | 21/28 | €13,411 | €102,996 | +€89,584 | +668.0% |
| Intangible fixed assets | 21 | €59 | - | -€59 | |
| Tangible fixed assets | 22/27 | €13,353 | €102,996 | +€89,643 | +671.3% |
| Land and buildings | 22 | - | €96,436 | +€96,436 | |
| Plant, machinery and equipment | 23 | €10,852 | €6,560 | -€4,292 | -39.5% |
| Furniture and vehicles | 24 | €2,501 | - | -€2,501 | |
| Current assets | 29/58 | €43,838 | €7,060 | -€36,778 | -83.9% |
| Stocks and contracts in progress | 3 | €3,230 | €733 | -€2,498 | -77.3% |
| Stocks | 30/36 | €3,230 | €733 | -€2,498 | -77.3% |
| Amounts receivable within one year | 40/41 | €36,513 | €4,426 | -€32,087 | -87.9% |
| Trade receivables | 40 | €33,055 | €2,354 | -€30,702 | -92.9% |
| Other amounts receivable | 41 | €3,458 | €2,073 | -€1,385 | -40.1% |
| Cash at bank and in hand | 54/58 | €1,700 | €309 | -€1,392 | -81.9% |
| Deferred charges and accrued income | 490/1 | €2,394 | €1,593 | -€801 | -33.5% |
| Total equity and liabilities | 10/49 | €57,439 | €110,056 | +€52,618 | +91.6% |
| Equity | 10/15 | -€3,425 | -€20,036 | -€16,611 | -485.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €2,298 | €2,298 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €438 | €438 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,222 | -€29,833 | -€16,611 | -125.6% |
| Amounts payable | 17/49 | €60,863 | €130,092 | +€69,229 | +113.7% |
| Amounts payable after more than one year | 17 | - | €81,966 | +€81,966 | |
| Financial debts | 170/4 | - | €81,966 | +€81,966 | |
| Amounts payable within one year | 42/48 | €60,856 | €47,800 | -€13,056 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €348 | €4,827 | +€4,479 | +1285.8% |
| Trade debts | 44 | €31,364 | €1,950 | -€29,414 | -93.8% |
| Suppliers | 440/4 | €31,364 | €1,950 | -€29,414 | -93.8% |
| Advances received on contracts in progress | 46 | - | €3,600 | +€3,600 | |
| Taxes, remuneration and social security | 45 | €14,918 | €18,160 | +€3,242 | +21.7% |
| Taxes | 450/3 | €1,158 | - | -€1,158 | |
| Remuneration and social security | 454/9 | €13,760 | €18,160 | +€4,400 | +32.0% |
| Other amounts payable | 47/48 | €14,226 | €19,263 | +€5,037 | +35.4% |
| Accrued charges and deferred income | 492/3 | €7 | €325 | +€318 | +4516.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,414 | €9,145 | -€5,269 | -36.6% |
| Other operating charges | 640/8 | €1,173 | €1,020 | -€153 | -13.0% |
| Gross operating margin | 9900 | €14,115 | -€2,865 | -€16,980 | |
| Operating profit (loss) | 9901 | -€1,472 | -€13,031 | -€11,558 | -785.0% |
| Financial income | 75/76B | €68 | €640 | +€572 | +839.0% |
| Recurring financial income | 75 | €68 | €640 | +€572 | +839.0% |
| Financial charges | 65/66B | €349 | €4,221 | +€3,872 | +1110.8% |
| Recurring financial charges | 65 | €349 | €4,221 | +€3,872 | +1110.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,753 | -€16,611 | -€14,858 | -847.7% |
| Profit (loss) for the period | 9904 | -€1,753 | -€16,611 | -€14,858 | -847.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,753 | -€16,611 | -€14,858 | -847.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.