L CNDTEST: 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.
L CNDTEST
Largest movements
- Cash -€231,140
down €231,140 (-35.3%), from €653,878 to €422,738
mainly Investment in fixed assets (net) (-€315,064) and Debts after one year (-€144,587)
- Tangible fixed assets +€208,112
up €208,112 (+58.4%), from €356,335 to €564,447
of which Assets under construction and advance payments: +€134,577
- Receivables within one year -€48,361
down €48,361 (-8.5%), from €572,064 to €523,703
of which Trade receivables: -€48,336
- Profit (loss) carried forward +€319,895
up €319,895 (+56.5%), from €566,118 to €886,013
- Debts after one year -€144,587
down €144,587 (-81.2%), from €177,975 to €33,388
- Trade debts -€137,832
down €137,832 (-58.1%), from €237,256 to €99,424
- Tax, wage and social debts -€92,329
down €92,329 (-33.8%), from €273,492 to €181,163
of which Taxes: -€75,229
- Other debts -€37,683
down €37,683 (-11.1%), from €340,031 to €302,348
- Turnover -€1.9m
no longer reported in 2025 (was €1.9m)
- Gross operating margin -€783,125
down €783,125 (-61.7%), from €1.3m to €486,612
- Staff costs -€772,313
no longer reported in 2025 (was €772,313)
- Purchases and services -€590,277
no longer reported in 2025 (was €590,277)
- Taxes -€61,939
no longer reported in 2025 (was €61,939)
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 | €1,624,065 | €1,559,486 | -€64,579 | -4.0% |
| Fixed assets | 21/28 | €364,005 | €579,717 | +€215,712 | +59.3% |
| Tangible fixed assets | 22/27 | €356,335 | €564,447 | +€208,112 | +58.4% |
| Land and buildings | 22 | €61,970 | €137,870 | +€75,900 | +122.5% |
| Plant, machinery and equipment | 23 | €185,034 | €166,547 | -€18,487 | -10.0% |
| Furniture and vehicles | 24 | €53,746 | €68,822 | +€15,076 | +28.1% |
| Leasing and similar rights | 25 | €4,198 | €5,402 | +€1,204 | +28.7% |
| Other tangible fixed assets | 26 | €51,387 | €51,229 | -€158 | -0.3% |
| Assets under construction and advance payments | 27 | - | €134,577 | +€134,577 | |
| Financial fixed assets | 28 | €7,670 | €15,270 | +€7,600 | +99.1% |
| Current assets | 29/58 | €1,260,060 | €979,769 | -€280,291 | -22.2% |
| Amounts receivable within one year | 40/41 | €572,064 | €523,703 | -€48,361 | -8.5% |
| Trade receivables | 40 | €564,247 | €515,911 | -€48,336 | -8.6% |
| Other amounts receivable | 41 | €7,817 | €7,792 | -€25 | -0.3% |
| Cash at bank and in hand | 54/58 | €653,878 | €422,738 | -€231,140 | -35.3% |
| Deferred charges and accrued income | 490/1 | €34,118 | €33,328 | -€790 | -2.3% |
| Total equity and liabilities | 10/49 | €1,624,065 | €1,559,486 | -€64,579 | -4.0% |
| Equity | 10/15 | €573,118 | €893,013 | +€319,895 | +55.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Capital | 10 | - | €7,000 | +€7,000 | |
| Issued capital | 100 | - | €7,000 | +€7,000 | |
| Profit (loss) carried forward | 14 | €566,118 | €886,013 | +€319,895 | +56.5% |
| Amounts payable | 17/49 | €1,050,947 | €666,473 | -€384,474 | -36.6% |
| Amounts payable after more than one year | 17 | €177,975 | €33,388 | -€144,587 | -81.2% |
| Financial debts | 170/4 | €177,975 | €33,388 | -€144,587 | -81.2% |
| Amounts payable within one year | 42/48 | €872,972 | €633,085 | -€239,887 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €22,193 | €50,150 | +€27,957 | +126.0% |
| Trade debts | 44 | €237,256 | €99,424 | -€137,832 | -58.1% |
| Suppliers | 440/4 | €237,256 | €99,424 | -€137,832 | -58.1% |
| Taxes, remuneration and social security | 45 | €273,492 | €181,163 | -€92,329 | -33.8% |
| Taxes | 450/3 | €183,082 | €107,853 | -€75,229 | -41.1% |
| Remuneration and social security | 454/9 | €90,410 | €73,310 | -€17,100 | -18.9% |
| Other amounts payable | 47/48 | €340,031 | €302,348 | -€37,683 | -11.1% |
| Turnover | 70 | €1,860,014 | - | -€1.9m | |
| Non-recurring operating income | 76A | - | €48,579 | +€48,579 | |
| Goods, raw materials, services and sundry goods | 60/61 | €590,277 | - | -€590,277 | |
| Remuneration, social security and pensions | 62 | €772,313 | - | -€772,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,564 | €99,352 | +€8,788 | +9.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €44,245 | +€44,245 | |
| Other operating charges | 640/8 | €3,697 | €5,916 | +€2,219 | +60.0% |
| Non-recurring operating charges | 66A | - | €4,864 | +€4,864 | |
| Gross operating margin | 9900 | €1,269,737 | €486,612 | -€783,125 | -61.7% |
| Operating profit (loss) | 9901 | €403,163 | €332,235 | -€70,928 | -17.6% |
| Financial charges | 65/66B | €30,010 | €12,340 | -€17,670 | -58.9% |
| Recurring financial charges | 65 | €30,010 | €12,340 | -€17,670 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | €373,153 | €319,895 | -€53,258 | -14.3% |
| Income taxes | 67/77 | €61,939 | - | -€61,939 | |
| Profit (loss) for the period | 9904 | €311,214 | €319,895 | +€8,681 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €311,214 | €319,895 | +€8,681 | +2.8% |
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 11 October 2026 via checked.be.