DE CNODDER J.: 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.
DE CNODDER J.
Largest movements
- Financial fixed assets +€149,000
up €149,000 (+250%), from €59,577 to €208,577
- Receivables within one year +€20,182
up €20,182 (+36.6%), from €55,117 to €75,300
of which Other amounts receivable: +€22,957
- Debts after one year +€149,000
new in 2025: €149,000
- Reserves +€28,341
up €28,341 (+15.5%), from €182,663 to €211,004
- Trade debts -€15,240
down €15,240 (-92.4%), from €16,495 to €1,255
- Gross operating margin -€24,559
down €24,559 (-29.9%), from €82,226 to €57,667
- Other operating charges -€8,656
down €8,656 (-65.0%), from €13,317 to €4,661
- Taxes -€5,631
down €5,631 (-21.8%), from €25,790 to €20,159
- Financial income -€1,872
down €1,872 (-25.1%), from €7,467 to €5,596
- Depreciation +€1,813
up €1,813 (+766%), from €237 to €2,050
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.
Derived cash bridge
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 | €284,509 | €450,782 | +€166,273 | +58.4% |
| Fixed assets | 21/28 | €79,841 | €226,791 | +€146,950 | +184% |
| Tangible fixed assets | 22/27 | €20,263 | €18,213 | -€2,050 | -10.1% |
| Other tangible fixed assets | 26 | €20,263 | €18,213 | -€2,050 | -10.1% |
| Financial fixed assets | 28 | €59,577 | €208,577 | +€149,000 | +250% |
| Current assets | 29/58 | €204,669 | €223,991 | +€19,323 | +9.4% |
| Amounts receivable after more than one year | 29 | €142,800 | €140,000 | -€2,800 | -2.0% |
| Other amounts receivable | 291 | €142,800 | €140,000 | -€2,800 | -2.0% |
| Amounts receivable within one year | 40/41 | €55,117 | €75,300 | +€20,182 | +36.6% |
| Trade receivables | 40 | €7,500 | €4,725 | -€2,775 | -37.0% |
| Other amounts receivable | 41 | €47,617 | €70,575 | +€22,957 | +48.2% |
| Cash at bank and in hand | 54/58 | €6,358 | €8,543 | +€2,186 | +34.4% |
| Deferred charges and accrued income | 490/1 | €394 | €148 | -€246 | -62.4% |
| Total equity and liabilities | 10/49 | €284,509 | €450,782 | +€166,273 | +58.4% |
| Equity | 10/15 | €196,645 | €224,986 | +€28,341 | +14.4% |
| Contributions | 10/11 | €13,982 | €13,982 | = | 0.0% |
| Reserves | 13 | €182,663 | €211,004 | +€28,341 | +15.5% |
| Distributable reserves | 133 | €182,663 | €211,004 | +€28,341 | +15.5% |
| Amounts payable | 17/49 | €87,864 | €225,796 | +€137,932 | +157% |
| Amounts payable after more than one year | 17 | - | €149,000 | +€149,000 | |
| Financial debts | 170/4 | - | €149,000 | +€149,000 | |
| Amounts payable within one year | 42/48 | €87,864 | €76,796 | -€11,068 | -12.6% |
| Trade debts | 44 | €16,495 | €1,255 | -€15,240 | -92.4% |
| Suppliers | 440/4 | €16,495 | €1,255 | -€15,240 | -92.4% |
| Taxes, remuneration and social security | 45 | €69,547 | €70,808 | +€1,261 | +1.8% |
| Taxes | 450/3 | €69,547 | €70,808 | +€1,261 | +1.8% |
| Other amounts payable | 47/48 | €1,822 | €4,733 | +€2,911 | +160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237 | €2,050 | +€1,813 | +766% |
| Other operating charges | 640/8 | €13,317 | €4,661 | -€8,656 | -65.0% |
| Gross operating margin | 9900 | €82,226 | €57,667 | -€24,559 | -29.9% |
| Operating profit (loss) | 9901 | €68,672 | €50,956 | -€17,716 | -25.8% |
| Financial income | 75/76B | €7,467 | €5,596 | -€1,872 | -25.1% |
| Recurring financial income | 75 | €7,467 | €5,596 | -€1,872 | -25.1% |
| Financial charges | 65/66B | €4,026 | €3,319 | -€707 | -17.6% |
| Recurring financial charges | 65 | €4,026 | €3,319 | -€707 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €72,114 | €53,233 | -€18,881 | -26.2% |
| Income taxes | 67/77 | €25,790 | €20,159 | -€5,631 | -21.8% |
| Profit (loss) for the period | 9904 | €46,324 | €33,074 | -€13,250 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,324 | €33,074 | -€13,250 | -28.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.