CDL: what changed
CDL
Largest movements
- Cash -€38,747
down €38,747 (-85.8%), from €45,136 to €6,389
mainly Investment in fixed assets (net) (-€41,094) and Receivables within one year (-€15,126)
- Tangible fixed assets +€34,458
up €34,458 (+823%), from €4,187 to €38,645
- Receivables within one year +€15,126
up €15,126 (+44.5%), from €34,003 to €49,129
of which Trade receivables: +€15,048
- Deferred charges and accrued income -€3,581
down €3,581 (-41.6%), from €8,605 to €5,023
- Reserves +€11,800
up €11,800 (+28.4%), from €41,500 to €53,300
- Tax, wage and social debts -€3,062
down €3,062 (-14.0%), from €21,828 to €18,766
of which Taxes: -€3,486
- Other debts -€1,890
down €1,890 (-23.9%), from €7,904 to €6,015
- Gross operating margin -€14,502
down €14,502 (-33.8%), from €42,917 to €28,415
- Taxes -€4,119
down €4,119 (-35.1%), from €11,751 to €7,632
- Write-downs -€1,355
no longer reported in 2025 (was €1,355)
- Other operating charges +€1,047
up €1,047 (+99.3%), from €1,055 to €2,102
- Depreciation -€459
down €459 (-6.5%), from €7,095 to €6,636
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
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €91,931 | €99,187 | +€7,256 | +7.9% |
| Fixed assets | 21/28 | €4,187 | €38,645 | +€34,458 | +823% |
| Tangible fixed assets | 22/27 | €4,187 | €38,645 | +€34,458 | +823% |
| Furniture and vehicles | 24 | €4,187 | €38,645 | +€34,458 | +823% |
| Current assets | 29/58 | €87,743 | €60,541 | -€27,202 | -31.0% |
| Amounts receivable within one year | 40/41 | €34,003 | €49,129 | +€15,126 | +44.5% |
| Trade receivables | 40 | €26,200 | €41,248 | +€15,048 | +57.4% |
| Other amounts receivable | 41 | €7,803 | €7,881 | +€78 | +1.0% |
| Cash at bank and in hand | 54/58 | €45,136 | €6,389 | -€38,747 | -85.8% |
| Deferred charges and accrued income | 490/1 | €8,605 | €5,023 | -€3,581 | -41.6% |
| Total equity and liabilities | 10/49 | €91,931 | €99,187 | +€7,256 | +7.9% |
| Equity | 10/15 | €60,544 | €72,439 | +€11,895 | +19.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,500 | €53,300 | +€11,800 | +28.4% |
| Distributable reserves | 133 | €41,500 | €53,300 | +€11,800 | +28.4% |
| Profit (loss) carried forward | 14 | €444 | €539 | +€95 | +21.3% |
| Amounts payable | 17/49 | €31,386 | €26,748 | -€4,639 | -14.8% |
| Amounts payable within one year | 42/48 | €31,386 | €26,748 | -€4,639 | -14.8% |
| Trade debts | 44 | €1,654 | €1,967 | +€313 | +18.9% |
| Suppliers | 440/4 | €1,654 | €1,967 | +€313 | +18.9% |
| Taxes, remuneration and social security | 45 | €21,828 | €18,766 | -€3,062 | -14.0% |
| Taxes | 450/3 | €18,404 | €14,919 | -€3,486 | -18.9% |
| Remuneration and social security | 454/9 | €3,424 | €3,848 | +€424 | +12.4% |
| Other amounts payable | 47/48 | €7,904 | €6,015 | -€1,890 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,095 | €6,636 | -€459 | -6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,355 | - | -€1,355 | |
| Other operating charges | 640/8 | €1,055 | €2,102 | +€1,047 | +99.3% |
| Gross operating margin | 9900 | €42,917 | €28,415 | -€14,502 | -33.8% |
| Operating profit (loss) | 9901 | €33,412 | €19,677 | -€13,735 | -41.1% |
| Financial income | 75/76B | €290 | €120 | -€170 | -58.7% |
| Recurring financial income | 75 | €290 | €120 | -€170 | -58.7% |
| Financial charges | 65/66B | €279 | €270 | -€8 | -3.0% |
| Recurring financial charges | 65 | €279 | €270 | -€8 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €33,423 | €19,526 | -€13,897 | -41.6% |
| Income taxes | 67/77 | €11,751 | €7,632 | -€4,119 | -35.1% |
| Profit (loss) for the period | 9904 | €21,672 | €11,895 | -€9,777 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,672 | €11,895 | -€9,777 | -45.1% |
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 7 November 2026 via checked.be.