CSDI: 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.
CSDI
Largest movements
- Receivables within one year +€83,005
up €83,005 (+39.1%), from €212,270 to €295,275
of which Trade receivables: +€80,640
- Cash -€48,078
down €48,078 (-57.7%), from €83,297 to €35,219
mainly Receivables within one year (-€83,005) and Stocks and contracts (-€12,523)
- Stocks and contracts +€12,523
new in 2025: €12,523
- Deferred charges and accrued income +€5,774
up €5,774 (+573.8%), from €1,006 to €6,780
- Trade debts +€43,346
up €43,346 (+41.7%), from €103,842 to €147,189
- Profit (loss) carried forward +€8,395
up €8,395 (+5.0%), from €168,128 to €176,523
- Purchases and services +€45,664
up €45,664 (+9.3%), from €488,983 to €534,647
- Turnover +€40,615
up €40,615 (+7.5%), from €544,112 to €584,727
- Gross operating margin -€17,093
down €17,093 (-21.3%), from €80,353 to €63,260
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 | €305,900 | €356,658 | +€50,759 | +16.6% |
| Fixed assets | 21/28 | €9,327 | €6,861 | -€2,466 | -26.4% |
| Tangible fixed assets | 22/27 | €9,327 | €6,861 | -€2,466 | -26.4% |
| Furniture and vehicles | 24 | €9,327 | €6,861 | -€2,466 | -26.4% |
| Current assets | 29/58 | €296,573 | €349,797 | +€53,224 | +17.9% |
| Stocks and contracts in progress | 3 | - | €12,523 | +€12,523 | |
| Stocks | 30/36 | - | €12,523 | +€12,523 | |
| Amounts receivable within one year | 40/41 | €212,270 | €295,275 | +€83,005 | +39.1% |
| Trade receivables | 40 | €186,131 | €266,771 | +€80,640 | +43.3% |
| Other amounts receivable | 41 | €26,139 | €28,503 | +€2,365 | +9.0% |
| Cash at bank and in hand | 54/58 | €83,297 | €35,219 | -€48,078 | -57.7% |
| Deferred charges and accrued income | 490/1 | €1,006 | €6,780 | +€5,774 | +573.8% |
| Total equity and liabilities | 10/49 | €305,900 | €356,658 | +€50,759 | +16.6% |
| Equity | 10/15 | €174,328 | €182,723 | +€8,395 | +4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,500 | €18,500 | = | 0.0% |
| Uncalled capital | 101 | €12,300 | €12,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,128 | €176,523 | +€8,395 | +5.0% |
| Amounts payable | 17/49 | €131,572 | €173,935 | +€42,363 | +32.2% |
| Amounts payable after more than one year | 17 | €1,737 | - | -€1,737 | |
| Financial debts | 170/4 | €1,737 | - | -€1,737 | |
| Amounts payable within one year | 42/48 | €129,835 | €173,935 | +€44,100 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €2,316 | €1,737 | -€579 | -25.0% |
| Trade debts | 44 | €103,842 | €147,189 | +€43,346 | +41.7% |
| Suppliers | 440/4 | €103,842 | €147,189 | +€43,346 | +41.7% |
| Advances received on contracts in progress | 46 | €1,750 | - | -€1,750 | |
| Taxes, remuneration and social security | 45 | €16,921 | €18,147 | +€1,226 | +7.2% |
| Taxes | 450/3 | €11,276 | €17,096 | +€5,819 | +51.6% |
| Remuneration and social security | 454/9 | €5,645 | €1,051 | -€4,594 | -81.4% |
| Other amounts payable | 47/48 | €5,005 | €6,862 | +€1,857 | +37.1% |
| Turnover | 70 | €544,112 | €584,727 | +€40,615 | +7.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €488,983 | €534,647 | +€45,664 | +9.3% |
| Remuneration, social security and pensions | 62 | €47,117 | €44,017 | -€3,101 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,572 | €3,565 | -€7 | -0.2% |
| Other operating charges | 640/8 | €404 | €255 | -€149 | -36.8% |
| Gross operating margin | 9900 | €80,353 | €63,260 | -€17,093 | -21.3% |
| Operating profit (loss) | 9901 | €29,260 | €15,424 | -€13,837 | -47.3% |
| Financial income | 75/76B | €9 | €0 | -€9 | -94.9% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -94.9% |
| Financial charges | 65/66B | €3,661 | €1,209 | -€2,452 | -67.0% |
| Recurring financial charges | 65 | €2,164 | €404 | -€1,760 | -81.3% |
| Non-recurring financial charges | 66B | €1,497 | €805 | -€692 | -46.2% |
| Profit (loss) for the period before taxes | 9903 | €25,609 | €14,215 | -€11,394 | -44.5% |
| Income taxes | 67/77 | €6,714 | €5,819 | -€895 | -13.3% |
| Profit (loss) for the period | 9904 | €18,894 | €8,395 | -€10,499 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,894 | €8,395 | -€10,499 | -55.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.