Codere Online Luxembourg, S.A. (CDRO) Balance Sheet
CDRO balance sheet, 2025
December 31, 2025 · euros€80.9M assets = €52.2M liabilities + €28.7M equity
Both columns are drawn to the same scale: what CDRO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CDRO financial health
Descriptive bands, not a rating. Fiscal 2025.
CDRO balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | €36.1M2018 | €80.9M2025 | +12.2%/yr | |
| Total liabilities | €55.4M2018 | €52.2M2025 | −0.9%/yr | |
| Shareholders’ equity | −€19.3M2018 | €28.5M2025 | — | |
| Cash & short-term investments | €5.3M2018 | €59.6M2025 | +41.4%/yr | |
| Total debt | €39.6M2018 | €3.9M2025 | −28.1%/yr | |
| Net cash (debt) | −€34.3M2018 | €55.7M2025 | +€90.0M | |
| Working capital | −€8.8M2018 | €18.2M2025 | +€27.0M | |
| Current ratio | 0.792018 | 1.372025 | +0.58 | |
| Debt / equity | 0.042021 | 0.142025 | +0.09 | |
| Shares outstanding | 45.1M2018 | 45.9M2025 | +0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CDRO assets
CDRO liabilities and equity
CDRO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CDRO balance sheet in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | €59.6M | €53.8M | €51.7M | €60.6M | €98.8M | €15.7M | €12.4M | €5.3M |
| Cash & equivalents | €50.0M | €40.3M | €41.3M | €53.8M | €94.9M | €10.9M | €8.0M | €2.6M |
| Short-term investments | €9.7M | €13.5M | €10.4M | €6.8M | €3.9M | €4.8M | €4.4M | €2.6M |
| Receivables | €6.3M | €6.9M | €8.0M | €7.1M | €5.1M | €1.4M | €29.5M | €27.0M |
| Inventory | €0 | €0 | €0 | −€6.8M | €1 | €1 | −€4.4M | €0 |
| Other current assets | €1.5M | €2.2M | €5.6M | €7.4M | €738,999 | €253,999 | €4.6M | €808,000 |
| Total current assets | €67.5M | €62.9M | €65.3M | €68.3M | €104.7M | €17.3M | €42.1M | €33.1M |
| Property, plant & equipment (net) | €2.4M | €2.4M | €331,000 | €200,000 | €133,000 | €116,000 | €92,000 | €44,000 |
| Goodwill & intangible assets | €0 | €10,000 | €10,000 | €10,000 | €469,000 | €1.1M | €2.0M | €3.0M |
| Long-term investments | €0 | €0 | €0 | €2,000 | €4,000 | €0 | €0 | €0 |
| Other non-current assets | €10.9M | €9.2M | €8.2M | €771,000 | €0 | €0 | €0 | €0 |
| Total assets | €80.9M | €74.5M | €73.8M | €69.3M | €105.3M | €18.5M | €44.2M | €36.1M |
| Liabilities | ||||||||
| Accounts payable | €22.4M | €24.6M | €31.8M | €23.8M | €19.7M | €13.0M | €18.5M | €11.7M |
| Short-term debt | €2.3M | €3.7M | — | €4.2M | €3.0M | €17.8M | €30.2M | €26.1M |
| Deferred revenue | — | — | — | — | €2.4M | €1.9M | €457,000 | €1.4M |
| Total current liabilities | €49.3M | €45.0M | €52.1M | €42.8M | €31.6M | €37.0M | €54.1M | €41.9M |
| Long-term debt | €0 | €0 | €0 | €710,000 | €0 | €21.4M | €21.4M | €13.5M |
| Lease obligations | €2.1M | €2.0M | €0 | — | €0 | €9,000 | €0 | €0 |
| Other long-term liabilities | €2.9M | €5.4M | €408,000 | €1.3M | €5.5M | €0 | €0 | €0 |
| Total liabilities | €52.2M | €50.3M | €52.5M | €44.8M | €37.1M | €58.5M | €75.6M | €55.4M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | €45.6M | €45.5M | — | €45.1M | €45.1M | €60,000 | €60,000 | — |
| Retained earnings (deficit) | −€145.6M | −€146.9M | −€150.8M | −€148.4M | −€102.0M | −€41.0M | −€17.7M | — |
| Accumulated other comprehensive income | €21.6M | €18.6M | — | €20.8M | €18.0M | €949,000 | −€13.8M | — |
| Minority interest | €152,000 | €149,000 | €147,000 | €145,000 | — | — | — | — |
| Total shareholders' equity | €28.5M | €24.1M | €21.1M | €24.4M | €68.0M | −€40.0M | −€31.4M | −€19.3M |
| Key figures | ||||||||
| Total debt | €3.9M | €5.4M | — | €5.0M | €3.0M | €39.2M | €51.7M | €39.6M |
| Net cash (debt) | €55.7M | €48.4M | — | €55.6M | €95.8M | −€23.6M | −€39.3M | −€34.3M |
| Working capital | €18.2M | €18.0M | €13.2M | €25.6M | €73.1M | −€19.7M | −€12.0M | −€8.8M |
| Tangible book value | €28.5M | €24.1M | €21.1M | €24.4M | €67.5M | −€41.1M | −€33.4M | −€22.3M |
| Shares outstanding | 45.9M | 46.1M | 45.3M | 45.1M | 45.2M | 8.9M | 60K | 45.1M |
| Current ratio | 1.37 | 1.40 | 1.25 | 1.60 | 3.31 | 0.47 | 0.78 | 0.79 |
| Quick ratio | 1.34 | 1.35 | 1.15 | 1.58 | 3.29 | 0.46 | 0.77 | 0.77 |
| Debt / equity | 0.14 | 0.22 | — | 0.20 | 0.04 | — | — | — |
| Equity / assets | 35.3% | 32.3% | 28.6% | 35.2% | 64.6% | −215.7% | −71.1% | −53.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | €72.9M | €62.5M | €59.6M | €56.0M | €62.4M | €51.3M | €53.8M | €40.3M | €52.7M | €40.4M | €51.7M | €41.3M |
| Cash & equivalents | €72.9M | €62.5M | €50.0M | €48.5M | €53.1M | €41.7M | €40.3M | €40.3M | €40.4M | €40.4M | €41.3M | €41.3M |
| Short-term investments | — | €9.7M | €9.7M | €7.5M | €9.4M | €9.6M | €13.5M | €12.3M | €12.3M | €14.1M | €10.4M | — |
| Receivables | €3.0M | €2.2M | €855,000 | €1.5M | €2.3M | €1.6M | €1.1M | €1.1M | €1.5M | €1.5M | €8.0M | €8.0M |
| Inventory | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Other current assets | €0 | €19.7M | €7.0M | €1 | €0 | €0 | €8.1M | €21.6M | €7.8M | €20.1M | €5.6M | €16.0M |
| Total current assets | €75.9M | €84.5M | €67.5M | €57.5M | €64.7M | €52.9M | €62.9M | €62.9M | €62.0M | €62.0M | €65.3M | €65.3M |
| Property, plant & equipment (net) | €0 | €2.2M | €2.4M | €2.4M | €2.4M | €2.4M | €2.4M | €2.4M | €920,000 | €920,000 | €331,000 | €331,000 |
| Goodwill & intangible assets | €0 | €0 | €0 | €0 | €0 | €10,000 | €0 | €4,000 | €4,000 | €4,000 | €10,000 | €10,000 |
| Long-term investments | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Other non-current assets | €12.8M | €11.9M | €10.9M | €8.8M | €10.8M | €9.9M | €9.2M | €9.2M | €8.8M | €8.8M | €8.2M | €8.2M |
| Total assets | €88.7M | €98.5M | €80.9M | €68.7M | €77.9M | €65.2M | €74.5M | €74.5M | €71.8M | €71.8M | €73.8M | €73.8M |
| Liabilities | ||||||||||||
| Accounts payable | €12.3M | €38.8M | €22.4M | €10.5M | €16.0M | €14.3M | €24.6M | €33.2M | €27.4M | €35.4M | €31.8M | €31.8M |
| Short-term debt | — | €290,000 | — | €1.8M | — | €3.7M | — | €3.7M | — | €5.2M | — | €5.1M |
| Total current liabilities | €43.0M | €57.3M | €49.3M | €38.7M | €44.7M | €34.3M | €45.0M | €45.0M | €46.7M | €46.7M | €52.1M | €52.1M |
| Long-term debt | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Lease obligations | — | — | €2.1M | — | €2.1M | — | €2.0M | — | €487,000 | — | €0 | — |
| Other long-term liabilities | €7.4M | €2.9M | €2.9M | €7.3M | €9.0M | €6.1M | €5.4M | €5.4M | €6.2M | €6.2M | €408,000 | €408,000 |
| Total liabilities | €50.4M | €60.2M | €52.2M | €46.0M | €53.8M | €40.4M | €50.3M | €50.3M | €52.8M | €52.8M | €52.5M | €52.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | €45.9M | — | €45.6M | — | €45.5M | — | €45.5M | — | €45.5M | — | €45.3M |
| Retained earnings (deficit) | — | −€140.1M | −€145.6M | −€150.7M | −€150.7M | −€146.9M | −€146.9M | −€146.9M | −€152.0M | −€152.0M | −€150.8M | −€150.8M |
| Accumulated other comprehensive income | — | €25.5M | — | €18.6M | — | €18.6M | — | €18.6M | — | €18.4M | — | €19.8M |
| Minority interest | — | — | €152,000 | — | €150,000 | — | €149,000 | — | — | — | — | — |
| Total shareholders' equity | €38.3M | €38.2M | €28.5M | €22.7M | €24.1M | €24.7M | €24.1M | €24.1M | €18.8M | €18.8M | €21.1M | €21.1M |
| Key figures | ||||||||||||
| Total debt | €1.9M | €1.9M | — | €2.0M | €2.5M | €2.1M | — | €5.4M | — | €5.2M | — | €5.1M |
| Net cash (debt) | €71.0M | €60.7M | — | €54.0M | €60.0M | €49.2M | — | €34.9M | — | €35.3M | — | €36.2M |
| Working capital | €32.9M | €27.1M | €18.2M | €18.8M | €20.0M | €18.6M | €18.0M | €18.0M | €15.3M | €15.3M | €13.2M | €13.2M |
| Tangible book value | €38.3M | €38.2M | €28.5M | €22.7M | €24.1M | €24.7M | €24.1M | €24.1M | €18.8M | €18.8M | €21.1M | €21.1M |
| Shares outstanding | 45.5M | 45.5M | 45.2M | 46.2M | 45.6M | 45.6M | 45.5M | 46.7M | 45.5M | 45.5M | 45.3M | 45.1M |
| Current ratio | 1.77 | 1.47 | 1.37 | 1.48 | 1.45 | 1.54 | 1.40 | 1.40 | 1.33 | 1.33 | 1.25 | 1.25 |
| Quick ratio | 1.77 | 1.13 | 1.23 | 1.48 | 1.45 | 1.54 | 1.22 | 0.92 | 1.16 | 0.90 | 1.15 | 0.95 |
| Debt / equity | 0.05 | 0.05 | — | 0.09 | 0.10 | 0.08 | — | 0.22 | — | 0.28 | — | 0.24 |
| Equity / assets | 43.2% | 38.8% | 35.3% | 33.0% | 30.9% | 38.0% | 32.3% | 32.3% | 26.2% | 26.2% | 28.6% | 28.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed April 28, 2026); data from EODHD.
CDRO financial position
At the end of fiscal 2025 (December 31, 2025), Codere Online Luxembourg had total assets of €80.9 million (up 8.5% from a year earlier), total liabilities of €52.2 million and shareholders' equity of €28.5 million. It held €59.6 million in cash and short-term investments against €3.9 million of debt, a net cash position of €55.7 million. Its current ratio was 1.37. In the latest quarter (ended June 30, 2026) total assets were €88.7 million and equity €38.3 million.
Related: CDRO income statement, CDRO cash flow statement, CDRO key metrics. See the CDRO stock overview for the latest quote and news.
CDRO balance sheet FAQ
What are Codere Online Luxembourg's total assets?
Codere Online Luxembourg reported total assets of €80.9 million at the end of fiscal 2025 (December 31, 2025), compared with €74.5 million a year earlier.
How much debt does Codere Online Luxembourg have?
Codere Online Luxembourg had €3.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.14.
How much cash does Codere Online Luxembourg have?
Codere Online Luxembourg held €59.6 million in cash and short-term investments at the end of fiscal 2025; with €3.9 million of debt that is net cash of €55.7 million.
What is Codere Online Luxembourg's book value?
Codere Online Luxembourg's shareholders' equity (book value) was €28.5 million at the end of fiscal 2025.
What is Codere Online Luxembourg's current ratio?
Codere Online Luxembourg had current assets of €67.5 million and current liabilities of €49.3 million, a current ratio of 1.37 (it can cover its short-term obligations).