CODUCO: what changed
CODUCO
Largest movements
- Tangible fixed assets -€38,716
down €38,716 (-6.4%), from €604,004 to €565,288
of which Land and buildings: -€25,491
- Stocks and contracts -€26,000
down €26,000 (-50.0%), from €52,000 to €26,000
- Receivables within one year +€19,229
up €19,229 (+19.8%), from €96,964 to €116,193
of which Trade receivables: +€27,574
- Tax, wage and social debts -€59,605
down €59,605 (-92.0%), from €64,757 to €5,152
of which Remuneration and social security: -€36,137
- Other debts +€35,595
up €35,595 (+99.3%), from €35,832 to €71,428
- Short-term financial debts +€18,763
up €18,763 (+26.2%), from €71,741 to €90,504
- Profit (loss) carried forward -€15,942
down €15,942 (-99.1%), from €16,094 to €152
- Debts after one year -€12,370
down €12,370 (-5.2%), from €240,012 to €227,642
- Gross operating margin -€100,811
down €100,811 (-27.7%), from €364,589 to €263,777
- Staff costs -€71,372
down €71,372 (-25.5%), from €279,697 to €208,325
- Taxes -€6,665
down €6,665, from €5,923 to -€742
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €761,680 | €719,622 | -€42,059 | -5.5% |
| Fixed assets | 21/28 | €609,004 | €573,538 | -€35,466 | -5.8% |
| Tangible fixed assets | 22/27 | €604,004 | €565,288 | -€38,716 | -6.4% |
| Land and buildings | 22 | €579,296 | €553,805 | -€25,491 | -4.4% |
| Plant, machinery and equipment | 23 | €1,325 | €1,010 | -€315 | -23.8% |
| Furniture and vehicles | 24 | €23,383 | €10,474 | -€12,909 | -55.2% |
| Financial fixed assets | 28 | €5,000 | €8,250 | +€3,250 | +65.0% |
| Current assets | 29/58 | €152,676 | €146,084 | -€6,593 | -4.3% |
| Stocks and contracts in progress | 3 | €52,000 | €26,000 | -€26,000 | -50.0% |
| Stocks | 30/36 | €52,000 | €26,000 | -€26,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €96,964 | €116,193 | +€19,229 | +19.8% |
| Trade receivables | 40 | €76,404 | €103,978 | +€27,574 | +36.1% |
| Other amounts receivable | 41 | €20,560 | €12,215 | -€8,345 | -40.6% |
| Deferred charges and accrued income | 490/1 | €3,712 | €3,891 | +€178 | +4.8% |
| Total equity and liabilities | 10/49 | €761,680 | €719,622 | -€42,059 | -5.5% |
| Equity | 10/15 | €326,997 | €311,055 | -€15,942 | -4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €304,703 | €304,703 | = | 0.0% |
| Distributable reserves | 133 | €304,703 | €304,703 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,094 | €152 | -€15,942 | -99.1% |
| Amounts payable | 17/49 | €434,684 | €408,567 | -€26,117 | -6.0% |
| Amounts payable after more than one year | 17 | €240,012 | €227,642 | -€12,370 | -5.2% |
| Financial debts | 170/4 | €240,012 | €227,642 | -€12,370 | -5.2% |
| Amounts payable within one year | 42/48 | €194,671 | €180,760 | -€13,911 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €11,670 | €12,370 | +€700 | +6.0% |
| Financial debts | 43 | €71,741 | €90,504 | +€18,763 | +26.2% |
| Credit institutions | 430/8 | €71,741 | €90,504 | +€18,763 | +26.2% |
| Trade debts | 44 | €10,671 | €1,306 | -€9,365 | -87.8% |
| Suppliers | 440/4 | €10,671 | €1,306 | -€9,365 | -87.8% |
| Taxes, remuneration and social security | 45 | €64,757 | €5,152 | -€59,605 | -92.0% |
| Taxes | 450/3 | €28,620 | €5,152 | -€23,468 | -82.0% |
| Remuneration and social security | 454/9 | €36,137 | €0 | -€36,137 | -100% |
| Other amounts payable | 47/48 | €35,832 | €71,428 | +€35,595 | +99.3% |
| Accrued charges and deferred income | 492/3 | - | €164 | +€164 | |
| Non-recurring operating income | 76A | - | €20,302 | +€20,302 | |
| Remuneration, social security and pensions | 62 | €279,697 | €208,325 | -€71,372 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,483 | €46,734 | +€1,251 | +2.8% |
| Other operating charges | 640/8 | €4,507 | €5,388 | +€880 | +19.5% |
| Gross operating margin | 9900 | €364,589 | €263,777 | -€100,811 | -27.7% |
| Operating profit (loss) | 9901 | €34,902 | €3,331 | -€31,571 | -90.5% |
| Financial income | 75/76B | €106 | €1 | -€105 | -99.1% |
| Recurring financial income | 75 | €106 | €1 | -€105 | -99.1% |
| Financial charges | 65/66B | €20,514 | €20,016 | -€498 | -2.4% |
| Recurring financial charges | 65 | €20,514 | €20,016 | -€498 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €14,493 | -€16,684 | -€31,177 | |
| Income taxes | 67/77 | €5,923 | -€742 | -€6,665 | |
| Profit (loss) for the period | 9904 | €8,571 | -€15,942 | -€24,512 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,571 | -€15,942 | -€24,512 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.