FONDUE CDC: 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.
FONDUE CDC
Largest movements
- Cash -€33,674
down €33,674 (-42.3%), from €79,697 to €46,024
mainly Trade debts (-€32,443) and Investment in fixed assets (net) (-€22,723)
- Receivables within one year -€7,330
down €7,330 (-78.5%), from €9,337 to €2,007
of which Other amounts receivable: -€7,812
- Tangible fixed assets +€5,935
up €5,935 (+10.4%), from €56,931 to €62,866
of which Other tangible fixed assets: +€19,321
- Reserves +€33,588
up €33,588 (+100.1%), from €33,550 to €67,138
- Trade debts -€32,443
down €32,443 (-78.6%), from €41,287 to €8,844
- Current portion of long-term debt -€20,112
down €20,112 (-68.8%), from €29,237 to €9,125
- Other debts -€10,678
down €10,678 (-98.7%), from €10,821 to €143
- Debts after one year -€6,424
down €6,424 (-60.2%), from €10,672 to €4,249
- Gross operating margin +€15,351
up €15,351 (+6.2%), from €246,187 to €261,538
- Staff costs +€8,433
up €8,433 (+4.8%), from €175,022 to €183,455
- Taxes +€3,204
up €3,204 (+20.8%), from €15,373 to €18,576
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 | €152,561 | €118,936 | -€33,625 | -22.0% |
| Fixed assets | 21/28 | €56,931 | €62,866 | +€5,935 | +10.4% |
| Tangible fixed assets | 22/27 | €56,931 | €62,866 | +€5,935 | +10.4% |
| Furniture and vehicles | 24 | €29,134 | €19,437 | -€9,698 | -33.3% |
| Leasing and similar rights | 25 | €11,269 | €7,580 | -€3,689 | -32.7% |
| Other tangible fixed assets | 26 | €16,528 | €35,849 | +€19,321 | +116.9% |
| Current assets | 29/58 | €95,630 | €56,070 | -€39,559 | -41.4% |
| Stocks and contracts in progress | 3 | €6,595 | €6,917 | +€321 | +4.9% |
| Stocks | 30/36 | €6,595 | €6,917 | +€321 | +4.9% |
| Amounts receivable within one year | 40/41 | €9,337 | €2,007 | -€7,330 | -78.5% |
| Trade receivables | 40 | €1,524 | €2,007 | +€483 | +31.7% |
| Other amounts receivable | 41 | €7,812 | - | -€7,812 | |
| Cash at bank and in hand | 54/58 | €79,697 | €46,024 | -€33,674 | -42.3% |
| Deferred charges and accrued income | 490/1 | - | €1,123 | +€1,123 | |
| Total equity and liabilities | 10/49 | €152,561 | €118,936 | -€33,625 | -22.0% |
| Equity | 10/15 | €36,550 | €70,138 | +€33,588 | +91.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €33,550 | €67,138 | +€33,588 | +100.1% |
| Distributable reserves | 133 | €33,550 | €67,138 | +€33,588 | +100.1% |
| Amounts payable | 17/49 | €116,011 | €48,798 | -€67,212 | -57.9% |
| Amounts payable after more than one year | 17 | €10,672 | €4,249 | -€6,424 | -60.2% |
| Financial debts | 170/4 | €10,672 | €4,249 | -€6,424 | -60.2% |
| Amounts payable within one year | 42/48 | €105,338 | €44,550 | -€60,789 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €29,237 | €9,125 | -€20,112 | -68.8% |
| Trade debts | 44 | €41,287 | €8,844 | -€32,443 | -78.6% |
| Suppliers | 440/4 | €41,287 | €8,844 | -€32,443 | -78.6% |
| Taxes, remuneration and social security | 45 | €23,993 | €26,437 | +€2,444 | +10.2% |
| Taxes | 450/3 | €15,505 | €17,465 | +€1,960 | +12.6% |
| Remuneration and social security | 454/9 | €8,488 | €8,972 | +€483 | +5.7% |
| Other amounts payable | 47/48 | €10,821 | €143 | -€10,678 | -98.7% |
| Non-recurring operating income | 76A | - | €1,546 | +€1,546 | |
| Remuneration, social security and pensions | 62 | €175,022 | €183,455 | +€8,433 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,007 | €16,788 | -€219 | -1.3% |
| Other operating charges | 640/8 | €719 | €742 | +€23 | +3.1% |
| Gross operating margin | 9900 | €246,187 | €261,538 | +€15,351 | +6.2% |
| Operating profit (loss) | 9901 | €53,438 | €60,553 | +€7,115 | +13.3% |
| Financial income | 75/76B | €20 | €8 | -€12 | -61.2% |
| Recurring financial income | 75 | €20 | €8 | -€12 | -61.2% |
| Financial charges | 65/66B | €6,236 | €8,397 | +€2,161 | +34.7% |
| Recurring financial charges | 65 | €6,236 | €8,397 | +€2,161 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €47,223 | €52,164 | +€4,942 | +10.5% |
| Income taxes | 67/77 | €15,373 | €18,576 | +€3,204 | +20.8% |
| Profit (loss) for the period | 9904 | €31,850 | €33,588 | +€1,738 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,850 | €33,588 | +€1,738 | +5.5% |
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 12 October 2026 via checked.be.