Arnaud Chantraine: what changed
Arnaud Chantraine
Largest movements
- Receivables within one year +€14,772
up €14,772 (+444%), from €3,325 to €18,097
of which Other amounts receivable: +€14,164
- Tangible fixed assets -€8,788
down €8,788 (-41.0%), from €21,444 to €12,656
of which Furniture and vehicles: -€8,575
- Cash -€8,007
down €8,007 (-9.3%), from €86,493 to €78,486
mainly Contributions, distributions and other (-€80,000) and Receivables within one year (-€14,772)
- Current portion of long-term debt -€7,148
no longer reported in 2025 (was €7,148)
- Tax, wage and social debts +€4,216
up €4,216 (+17.5%), from €24,045 to €28,261
- Trade debts +€2,639
up €2,639 (+136%), from €1,944 to €4,583
- Gross operating margin +€24,158
up €24,158 (+26.9%), from €89,900 to €114,059
- Taxes +€5,218
up €5,218 (+30.5%), from €17,084 to €22,302
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 | €116,393 | €115,187 | -€1,206 | -1.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €21,444 | €12,656 | -€8,788 | -41.0% |
| Tangible fixed assets | 22/27 | €21,444 | €12,656 | -€8,788 | -41.0% |
| Furniture and vehicles | 24 | €19,917 | €11,343 | -€8,575 | -43.1% |
| Other tangible fixed assets | 26 | €1,527 | €1,313 | -€213 | -14.0% |
| Current assets | 29/58 | €94,949 | €102,530 | +€7,581 | +8.0% |
| Amounts receivable within one year | 40/41 | €3,325 | €18,097 | +€14,772 | +444% |
| Trade receivables | 40 | €22 | €630 | +€608 | +2,763% |
| Other amounts receivable | 41 | €3,303 | €17,467 | +€14,164 | +429% |
| Cash at bank and in hand | 54/58 | €86,493 | €78,486 | -€8,007 | -9.3% |
| Deferred charges and accrued income | 490/1 | €5,130 | €5,947 | +€816 | +15.9% |
| Total equity and liabilities | 10/49 | €116,393 | €115,187 | -€1,206 | -1.0% |
| Equity | 10/15 | €3,287 | €2,279 | -€1,008 | -30.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,287 | €1,279 | -€1,008 | -44.1% |
| Amounts payable | 17/49 | €113,106 | €112,908 | -€198 | -0.2% |
| Amounts payable within one year | 42/48 | €113,081 | €112,844 | -€238 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €7,148 | - | -€7,148 | |
| Trade debts | 44 | €1,944 | €4,583 | +€2,639 | +136% |
| Suppliers | 440/4 | €1,944 | €4,583 | +€2,639 | +136% |
| Taxes, remuneration and social security | 45 | €24,045 | €28,261 | +€4,216 | +17.5% |
| Taxes | 450/3 | €24,045 | €28,261 | +€4,216 | +17.5% |
| Other amounts payable | 47/48 | €79,945 | €80,000 | +€55 | +0.1% |
| Accrued charges and deferred income | 492/3 | €24 | €64 | +€39 | +163% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,497 | €8,788 | +€291 | +3.4% |
| Other operating charges | 640/8 | €772 | €797 | +€25 | +3.2% |
| Non-recurring operating charges | 66A | €320 | €690 | +€369 | +115% |
| Gross operating margin | 9900 | €89,900 | €114,059 | +€24,158 | +26.9% |
| Operating profit (loss) | 9901 | €80,311 | €103,784 | +€23,473 | +29.2% |
| Financial charges | 65/66B | €3,584 | €2,490 | -€1,094 | -30.5% |
| Recurring financial charges | 65 | €3,584 | €2,490 | -€1,094 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €76,727 | €101,294 | +€24,567 | +32.0% |
| Income taxes | 67/77 | €17,084 | €22,302 | +€5,218 | +30.5% |
| Profit (loss) for the period | 9904 | €59,643 | €78,992 | +€19,349 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,643 | €78,992 | +€19,349 | +32.4% |
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.