RE/CODYCO: 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.
RE/CODYCO
Largest movements
- Financial fixed assets -€102,362
down €102,362 (-26.1%), from €391,975 to €289,613
- Tangible fixed assets -€63,729
down €63,729 (-18.6%), from €343,182 to €279,454
of which Furniture and vehicles: -€56,619
- Cash +€43,977
up €43,977 (+7,564%), from €581 to €44,559
mainly Investment in fixed assets (net) (+€149,301) and Receivables within one year (+€24,084)
- Receivables within one year -€24,084
down €24,084 (-86.8%), from €27,752 to €3,668
of which Other amounts receivable: -€15,811
- Other debts -€107,287
down €107,287 (-31.2%), from €344,318 to €237,031
- Profit (loss) carried forward -€36,642
down €36,642 (-17.1%), from -€214,381 to -€251,022
- Current portion of long-term debt -€11,836
down €11,836 (-100%), from €11,836 to €0
- Trade debts +€9,463
up €9,463 (+1,041%), from €909 to €10,373
- Financial charges -€165,629
down €165,629 (-98.6%), from €167,905 to €2,276
of which Non-recurring financial charges: -€165,830
- Depreciation -€18,799
down €18,799 (-52.8%), from €35,589 to €16,790
- Gross operating margin +€12,331
up €12,331 (+84.5%), from -€14,601 to -€2,269
- Other operating charges +€4,968
up €4,968 (+68.9%), from €7,209 to €12,177
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 | €764,863 | €618,464 | -€146,398 | -19.1% |
| Fixed assets | 21/28 | €735,157 | €569,067 | -€166,091 | -22.6% |
| Tangible fixed assets | 22/27 | €343,182 | €279,454 | -€63,729 | -18.6% |
| Land and buildings | 22 | €277,883 | €271,387 | -€6,496 | -2.3% |
| Plant, machinery and equipment | 23 | €8,681 | €8,066 | -€614 | -7.1% |
| Furniture and vehicles | 24 | €56,619 | €0 | -€56,619 | -100% |
| Financial fixed assets | 28 | €391,975 | €289,613 | -€102,362 | -26.1% |
| Current assets | 29/58 | €29,705 | €49,398 | +€19,693 | +66.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €27,752 | €3,668 | -€24,084 | -86.8% |
| Trade receivables | 40 | €8,273 | €0 | -€8,273 | -100% |
| Other amounts receivable | 41 | €19,479 | €3,668 | -€15,811 | -81.2% |
| Cash at bank and in hand | 54/58 | €581 | €44,559 | +€43,977 | +7,564% |
| Deferred charges and accrued income | 490/1 | €1,371 | €1,171 | -€200 | -14.6% |
| Total equity and liabilities | 10/49 | €764,863 | €618,464 | -€146,398 | -19.1% |
| Equity | 10/15 | €407,692 | €371,051 | -€36,642 | -9.0% |
| Contributions | 10/11 | €621,073 | €621,073 | = | 0.0% |
| Capital | 10 | €621,073 | €621,073 | = | 0.0% |
| Issued capital | 100 | €621,073 | €621,073 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Legal reserve | 130 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€214,381 | -€251,022 | -€36,642 | -17.1% |
| Amounts payable | 17/49 | €357,170 | €247,414 | -€109,756 | -30.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €357,170 | €247,414 | -€109,756 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €11,836 | €0 | -€11,836 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €909 | €10,373 | +€9,463 | +1,041% |
| Suppliers | 440/4 | €909 | €10,373 | +€9,463 | +1,041% |
| Taxes, remuneration and social security | 45 | €107 | €10 | -€97 | -90.4% |
| Taxes | 450/3 | €107 | €10 | -€97 | -90.4% |
| Other amounts payable | 47/48 | €344,318 | €237,031 | -€107,287 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,589 | €16,790 | -€18,799 | -52.8% |
| Other operating charges | 640/8 | €7,209 | €12,177 | +€4,968 | +68.9% |
| Non-recurring operating charges | 66A | - | €3,119 | +€3,119 | |
| Gross operating margin | 9900 | -€14,601 | -€2,269 | +€12,331 | +84.5% |
| Operating profit (loss) | 9901 | -€57,400 | -€34,355 | +€23,044 | +40.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €167,905 | €2,276 | -€165,629 | -98.6% |
| Recurring financial charges | 65 | €807 | €1,008 | +€201 | +25.0% |
| Non-recurring financial charges | 66B | €167,098 | €1,268 | -€165,830 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | -€225,304 | -€36,631 | +€188,673 | +83.7% |
| Income taxes | 67/77 | €107 | €10 | -€97 | -90.4% |
| Profit (loss) for the period | 9904 | -€225,412 | -€36,642 | +€188,770 | +83.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€225,412 | -€36,642 | +€188,770 | +83.7% |
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 28 October 2026 via checked.be.