CODEGE: what changed
What changed
CODEGE
NACE 77.225, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
€132,755
2024 · €98,390+€34,365
Equity
€234,714
2024 · €201,959+€32,755
Cash
€96,604
2024 · €46,793+€49,810
Balance sheet total
€1.5m
2024 · €1.5m+€41,806
Largest movements
Assets
- Cash +€49,810
up €49,810 (+106%), from €46,793 to €96,604
mainly Net result for the year (+€132,755) and Depreciation (+€112,076)
Equity and liabilities
- Reserves +€33,644
up €33,644 (+18.4%), from €182,470 to €216,114
Income statement
- Gross operating margin +€49,263
up €49,263 (+15.3%), from €321,699 to €370,962
- Depreciation -€18,152
down €18,152 (-13.9%), from €130,228 to €112,076
- Taxes +€11,417
up €11,417 (+27.8%), from €41,050 to €52,467
- Financial charges +€10,638
up €10,638 (+38.5%), from €27,644 to €38,282
- Staff costs +€5,518
up €5,518 (+40.0%), from €13,786 to €19,305
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.
Result 2024
€98,390
Gross operating margin
+€49,263
Staff costs
-€5,518
Depreciation
+€18,152
Other operating charges
-€1,647
Other operating items
+€118
Financial income
-€3,948
Financial charges
-€10,638
Taxes
-€11,417
Result 2025
€132,755
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€257,678
Investment
-€107,252
Financing
-€100,615
Cash 2024
€46,793
From operations (derived)
+€257,678
Net result for the year
+€132,755
Depreciation
+€112,076
Receivables after one year
+€5,546
Receivables within one year
-€1,402
Deferred charges and accrued income
-€963
Trade debts
+€2,917
Tax, wage and social debts
+€1,051
Other debts
+€5,400
Accrued charges and deferred income
+€297
Investment (derived)
-€107,252
Investment in fixed assets (net)
-€104,752
Current investments
-€2,500
Financing
-€100,615
Debts after one year
-€8,013
Current portion of long-term debt
+€7,398
Contributions, distributions and other
-€100,000
Cash 2025
€96,604
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,459,966 | €1,501,772 | +€41,806 | +2.9% |
| Fixed assets | 21/28 | €1,355,807 | €1,348,483 | -€7,324 | -0.5% |
| Intangible fixed assets | 21 | €4,534 | €9,778 | +€5,244 | +116% |
| Tangible fixed assets | 22/27 | €1,350,738 | €1,338,171 | -€12,567 | -0.9% |
| Land and buildings | 22 | €1,143,364 | €1,086,660 | -€56,704 | -5.0% |
| Plant, machinery and equipment | 23 | €108,722 | €173,072 | +€64,350 | +59.2% |
| Furniture and vehicles | 24 | €98,653 | €78,439 | -€20,213 | -20.5% |
| Financial fixed assets | 28 | €534 | €534 | = | 0.0% |
| Current assets | 29/58 | €104,159 | €153,288 | +€49,129 | +47.2% |
| Amounts receivable after more than one year | 29 | €51,451 | €45,905 | -€5,546 | -10.8% |
| Other amounts receivable | 291 | €51,451 | €45,905 | -€5,546 | -10.8% |
| Amounts receivable within one year | 40/41 | €1,491 | €2,893 | +€1,402 | +94.0% |
| Trade receivables | 40 | €231 | €725 | +€495 | +215% |
| Other amounts receivable | 41 | €1,261 | €2,168 | +€907 | +72.0% |
| Current investments | 50/53 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €46,793 | €96,604 | +€49,810 | +106% |
| Deferred charges and accrued income | 490/1 | €4,424 | €5,386 | +€963 | +21.8% |
| Total equity and liabilities | 10/49 | €1,459,966 | €1,501,772 | +€41,806 | +2.9% |
| Equity | 10/15 | €201,959 | €234,714 | +€32,755 | +16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €182,470 | €216,114 | +€33,644 | +18.4% |
| Distributable reserves | 133 | €182,470 | €216,114 | +€33,644 | +18.4% |
| Profit (loss) carried forward | 14 | €889 | - | -€889 | |
| Amounts payable | 17/49 | €1,258,007 | €1,267,057 | +€9,051 | +0.7% |
| Amounts payable after more than one year | 17 | €969,647 | €961,633 | -€8,013 | -0.8% |
| Financial debts | 170/4 | €969,647 | €961,633 | -€8,013 | -0.8% |
| Amounts payable within one year | 42/48 | €275,709 | €292,476 | +€16,767 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €114,513 | €121,911 | +€7,398 | +6.5% |
| Trade debts | 44 | €5,487 | €8,405 | +€2,917 | +53.2% |
| Suppliers | 440/4 | €5,487 | €8,405 | +€2,917 | +53.2% |
| Taxes, remuneration and social security | 45 | €10,354 | €11,405 | +€1,051 | +10.2% |
| Taxes | 450/3 | €8,394 | €10,100 | +€1,706 | +20.3% |
| Remuneration and social security | 454/9 | €1,960 | €1,305 | -€655 | -33.4% |
| Other amounts payable | 47/48 | €145,356 | €150,756 | +€5,400 | +3.7% |
| Accrued charges and deferred income | 492/3 | €12,651 | €12,948 | +€297 | +2.3% |
| Non-recurring operating income | 76A | - | €147 | +€147 | |
| Remuneration, social security and pensions | 62 | €13,786 | €19,305 | +€5,518 | +40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,228 | €112,076 | -€18,152 | -13.9% |
| Other operating charges | 640/8 | €15,631 | €17,277 | +€1,647 | +10.5% |
| Non-recurring operating charges | 66A | €118 | - | -€118 | |
| Gross operating margin | 9900 | €321,699 | €370,962 | +€49,263 | +15.3% |
| Operating profit (loss) | 9901 | €161,936 | €222,303 | +€60,368 | +37.3% |
| Financial income | 75/76B | €5,148 | €1,201 | -€3,948 | -76.7% |
| Recurring financial income | 75 | €2,207 | €1,201 | -€1,006 | -45.6% |
| Non-recurring financial income | 76B | €2,941 | - | -€2,941 | |
| Financial charges | 65/66B | €27,644 | €38,282 | +€10,638 | +38.5% |
| Recurring financial charges | 65 | €27,644 | €38,282 | +€10,638 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €139,440 | €185,222 | +€45,782 | +32.8% |
| Income taxes | 67/77 | €41,050 | €52,467 | +€11,417 | +27.8% |
| Profit (loss) for the period | 9904 | €98,390 | €132,755 | +€34,365 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €98,390 | €132,755 | +€34,365 | +34.9% |
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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.