INSTITUUT 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.
INSTITUUT CDC
Largest movements
- Stocks and contracts +€6,972
up €6,972 (+53.1%), from €13,141 to €20,113
- Tangible fixed assets -€4,535
down €4,535 (-5.3%), from €84,916 to €80,381
of which Furniture and vehicles: -€4,334
- Receivables within one year +€3,742
up €3,742 (+143%), from €2,610 to €6,352
- Deferred charges and accrued income +€2,873
up €2,873 (+192%), from €1,500 to €4,373
- Formation expenses -€1,403
down €1,403 (-45.0%), from €3,116 to €1,713
- Debts after one year +€120,000
new in 2025: €120,000
- Other debts -€118,136
down €118,136 (-97.6%), from €121,015 to €2,878
- Accrued charges and deferred income -€8,650
no longer reported in 2025 (was €8,650)
- Trade debts +€8,340
up €8,340 (+373%), from €2,234 to €10,574
- Profit (loss) carried forward +€4,007
up €4,007 (+23.0%), from -€17,451 to -€13,444
- Gross operating margin +€18,197
up €18,197 (+43.8%), from €41,552 to €59,748
- Staff costs -€4,811
down €4,811 (-9.9%), from €48,742 to €43,931
- Other operating charges +€1,151
up €1,151 (+235%), from €489 to €1,640
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 | €128,929 | €136,005 | +€7,076 | +5.5% |
| Formation expenses | 20 | €3,116 | €1,713 | -€1,403 | -45.0% |
| Fixed assets | 21/28 | €84,916 | €80,381 | -€4,535 | -5.3% |
| Tangible fixed assets | 22/27 | €84,916 | €80,381 | -€4,535 | -5.3% |
| Plant, machinery and equipment | 23 | €1,007 | €805 | -€201 | -20.0% |
| Furniture and vehicles | 24 | €83,909 | €79,575 | -€4,334 | -5.2% |
| Current assets | 29/58 | €40,897 | €53,912 | +€13,014 | +31.8% |
| Stocks and contracts in progress | 3 | €13,141 | €20,113 | +€6,972 | +53.1% |
| Stocks | 30/36 | €13,141 | €20,113 | +€6,972 | +53.1% |
| Amounts receivable within one year | 40/41 | €2,610 | €6,352 | +€3,742 | +143% |
| Trade receivables | 40 | €2,610 | €6,352 | +€3,742 | +143% |
| Cash at bank and in hand | 54/58 | €23,646 | €23,073 | -€573 | -2.4% |
| Deferred charges and accrued income | 490/1 | €1,500 | €4,373 | +€2,873 | +192% |
| Total equity and liabilities | 10/49 | €128,929 | €136,005 | +€7,076 | +5.5% |
| Equity | 10/15 | -€17,351 | -€13,344 | +€4,007 | +23.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,451 | -€13,444 | +€4,007 | +23.0% |
| Amounts payable | 17/49 | €146,279 | €149,348 | +€3,069 | +2.1% |
| Amounts payable after more than one year | 17 | - | €120,000 | +€120,000 | |
| Other amounts payable | 178/9 | - | €120,000 | +€120,000 | |
| Amounts payable within one year | 42/48 | €137,630 | €29,348 | -€108,281 | -78.7% |
| Trade debts | 44 | €2,234 | €10,574 | +€8,340 | +373% |
| Suppliers | 440/4 | €2,234 | €10,574 | +€8,340 | +373% |
| Taxes, remuneration and social security | 45 | €14,381 | €15,897 | +€1,515 | +10.5% |
| Taxes | 450/3 | €7,681 | €9,060 | +€1,379 | +18.0% |
| Remuneration and social security | 454/9 | €6,700 | €6,836 | +€136 | +2.0% |
| Other amounts payable | 47/48 | €121,015 | €2,878 | -€118,136 | -97.6% |
| Accrued charges and deferred income | 492/3 | €8,650 | - | -€8,650 | |
| Remuneration, social security and pensions | 62 | €48,742 | €43,931 | -€4,811 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,416 | €10,927 | +€511 | +4.9% |
| Other operating charges | 640/8 | €489 | €1,640 | +€1,151 | +235% |
| Gross operating margin | 9900 | €41,552 | €59,748 | +€18,197 | +43.8% |
| Operating profit (loss) | 9901 | -€18,096 | €3,249 | +€21,345 | |
| Financial income | 75/76B | €662 | €1,064 | +€402 | +60.7% |
| Recurring financial income | 75 | €662 | €1,064 | +€402 | +60.7% |
| Financial charges | 65/66B | €16 | €233 | +€217 | +1,325% |
| Recurring financial charges | 65 | €16 | €233 | +€217 | +1,325% |
| Profit (loss) for the period before taxes | 9903 | -€17,451 | €4,080 | +€21,531 | |
| Income taxes | 67/77 | - | €73 | +€73 | |
| Profit (loss) for the period | 9904 | -€17,451 | €4,007 | +€21,457 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,451 | €4,007 | +€21,457 |
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 17 October 2026 via checked.be.