Le Condor: 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.
Le Condor
Largest movements
- Cash +€65,763
up €65,763 (+6.5%), from €1.0m to €1.1m
mainly Accrued charges and deferred income (+€115,202) and Depreciation (+€24,708)
- Receivables within one year -€21,297
down €21,297 (-11.4%), from €187,619 to €166,322
of which Other amounts receivable: -€21,428
- Tangible fixed assets -€17,826
down €17,826 (-6.5%), from €272,429 to €254,603
of which Plant, machinery and equipment: -€17,105
- Accrued charges and deferred income +€115,202
up €115,202 (+1,860%), from €6,192 to €121,394
- Debts within one year -€103,784
down €103,784 (-12.4%), from €834,891 to €731,107
- Profit (loss) carried forward +€16,683
up €16,683 (+2.7%), from €622,611 to €639,294
- Staff costs +€43,855
up €43,855 (+3.0%), from €1.4m to €1.5m
- Gross operating margin +€31,109
up €31,109 (+2.1%), from €1.5m to €1.5m
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 | €1,501,621 | €1,526,858 | +€25,237 | +1.7% |
| Fixed assets | 21/28 | €283,924 | €266,160 | -€17,764 | -6.3% |
| Tangible fixed assets | 22/27 | €272,429 | €254,603 | -€17,826 | -6.5% |
| Land and buildings | 22 | €26,773 | €26,773 | = | 0.0% |
| Plant, machinery and equipment | 23 | €244,139 | €227,034 | -€17,105 | -7.0% |
| Furniture and vehicles | 24 | €1,517 | €796 | -€721 | -47.5% |
| Financial fixed assets | 28 | €11,495 | €11,557 | +€62 | +0.5% |
| Current assets | 29/58 | €1,217,697 | €1,260,698 | +€43,001 | +3.5% |
| Amounts receivable within one year | 40/41 | €187,619 | €166,322 | -€21,297 | -11.4% |
| Trade receivables | 40 | - | €131 | +€131 | |
| Other amounts receivable | 41 | €187,619 | €166,191 | -€21,428 | -11.4% |
| Cash at bank and in hand | 54/58 | €1,013,757 | €1,079,520 | +€65,763 | +6.5% |
| Deferred charges and accrued income | 490/1 | €16,321 | €14,856 | -€1,465 | -9.0% |
| Total equity and liabilities | 10/49 | €1,501,621 | €1,526,858 | +€25,237 | +1.7% |
| Equity | 10/15 | €660,538 | €674,357 | +€13,819 | +2.1% |
| Profit (loss) carried forward | 14 | €622,611 | €639,294 | +€16,683 | +2.7% |
| Investment grants | 15 | €37,927 | €35,063 | -€2,864 | -7.6% |
| Amounts payable | 17/49 | €841,083 | €852,501 | +€11,418 | +1.4% |
| Amounts payable within one year | 42/48 | €834,891 | €731,107 | -€103,784 | -12.4% |
| Trade debts | 44 | €19,173 | €21,249 | +€2,076 | +10.8% |
| Suppliers | 440/4 | €19,173 | €21,249 | +€2,076 | +10.8% |
| Taxes, remuneration and social security | 45 | €221,292 | €220,235 | -€1,057 | -0.5% |
| Taxes | 450/3 | €31,272 | €31,232 | -€40 | -0.1% |
| Remuneration and social security | 454/9 | €190,020 | €189,003 | -€1,017 | -0.5% |
| Accrued charges and deferred income | 492/3 | €6,192 | €121,394 | +€115,202 | +1,860% |
| Non-recurring operating income | 76A | €4,687 | €3 | -€4,684 | -99.9% |
| Remuneration, social security and pensions | 62 | €1,448,187 | €1,492,042 | +€43,855 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,020 | €24,708 | +€688 | +2.9% |
| Other operating charges | 640/8 | €4,298 | €4,472 | +€174 | +4.0% |
| Non-recurring operating charges | 66A | €3,694 | - | -€3,694 | |
| Gross operating margin | 9900 | €1,504,199 | €1,535,308 | +€31,109 | +2.1% |
| Operating profit (loss) | 9901 | €24,000 | €14,086 | -€9,914 | -41.3% |
| Financial income | 75/76B | €5,680 | €3,741 | -€1,939 | -34.1% |
| Recurring financial income | 75 | €5,680 | €3,741 | -€1,939 | -34.1% |
| Financial charges | 65/66B | €1,120 | €1,144 | +€24 | +2.1% |
| Recurring financial charges | 65 | €1,120 | €1,144 | +€24 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €28,560 | €16,683 | -€11,877 | -41.6% |
| Profit (loss) for the period | 9904 | €28,560 | €16,683 | -€11,877 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,560 | €16,683 | -€11,877 | -41.6% |
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 17 October 2026 via checked.be.