CO3-DEVELOPMENT: 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.
CO3-DEVELOPMENT
Largest movements
- Receivables within one year +€232,514
up €232,514 (+167%), from €139,195 to €371,709
of which Trade receivables: +€268,920
- Stocks and contracts -€57,514
no longer reported in 2025 (was €57,514)
- Cash -€42,723
down €42,723 (-100.0%), from €42,724 to €1
mainly Receivables within one year (-€232,514) and Debts after one year (-€192,230)
- Trade debts +€298,187
up €298,187 (+2,961%), from €10,071 to €308,258
- Debts after one year -€192,230
down €192,230 (-99.5%), from €193,123 to €892
- Profit (loss) carried forward +€25,000
up €25,000, from -€10,592 to €14,408
- Gross operating margin -€346,015
down €346,015 (-70.2%), from €492,595 to €146,580
- Write-downs -€163,912
down €163,912 (-60.0%), from €273,190 to €109,278
- Financial charges -€107,883
down €107,883 (-92.5%), from €116,683 to €8,800
- Taxes +€8,286
new in 2025: €8,286
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 | €239,433 | €371,738 | +€132,305 | +55.3% |
| Current assets | 29/58 | €239,433 | €371,738 | +€132,305 | +55.3% |
| Stocks and contracts in progress | 3 | €57,514 | - | -€57,514 | |
| Stocks | 30/36 | €57,514 | - | -€57,514 | |
| Amounts receivable within one year | 40/41 | €139,195 | €371,709 | +€232,514 | +167% |
| Trade receivables | 40 | €14,932 | €283,851 | +€268,920 | +1,801% |
| Other amounts receivable | 41 | €124,263 | €87,858 | -€36,405 | -29.3% |
| Cash at bank and in hand | 54/58 | €42,724 | €1 | -€42,723 | -100.0% |
| Deferred charges and accrued income | 490/1 | - | €27 | +€27 | |
| Total equity and liabilities | 10/49 | €239,433 | €371,738 | +€132,305 | +55.3% |
| Equity | 10/15 | €31,408 | €56,408 | +€25,000 | +79.6% |
| Contributions | 10/11 | €42,000 | €42,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,592 | €14,408 | +€25,000 | |
| Amounts payable | 17/49 | €208,025 | €315,329 | +€107,305 | +51.6% |
| Amounts payable after more than one year | 17 | €193,123 | €892 | -€192,230 | -99.5% |
| Financial debts | 170/4 | €193,123 | €892 | -€192,230 | -99.5% |
| Amounts payable within one year | 42/48 | €11,902 | €311,437 | +€299,535 | +2,517% |
| Trade debts | 44 | €10,071 | €308,258 | +€298,187 | +2,961% |
| Suppliers | 440/4 | €10,071 | €308,258 | +€298,187 | +2,961% |
| Taxes, remuneration and social security | 45 | €1,831 | €3,179 | +€1,348 | +73.6% |
| Taxes | 450/3 | €1,831 | €3,179 | +€1,348 | +73.6% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126 | - | -€126 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €273,190 | €109,278 | -€163,912 | -60.0% |
| Other operating charges | 640/8 | €1,281 | €4,309 | +€3,029 | +236% |
| Gross operating margin | 9900 | €492,595 | €146,580 | -€346,015 | -70.2% |
| Operating profit (loss) | 9901 | €217,999 | €32,992 | -€185,007 | -84.9% |
| Financial income | 75/76B | €8,373 | €9,093 | +€720 | +8.6% |
| Recurring financial income | 75 | €8,373 | €9,093 | +€720 | +8.6% |
| Financial charges | 65/66B | €116,683 | €8,800 | -€107,883 | -92.5% |
| Recurring financial charges | 65 | €116,683 | €8,800 | -€107,883 | -92.5% |
| Profit (loss) for the period before taxes | 9903 | €109,689 | €33,286 | -€76,403 | -69.7% |
| Income taxes | 67/77 | - | €8,286 | +€8,286 | |
| Profit (loss) for the period | 9904 | €109,689 | €25,000 | -€84,689 | -77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €109,689 | €25,000 | -€84,689 | -77.2% |
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 27 October 2026 via checked.be.