C.H.L.: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
C.H.L.
Largest movements
- Tangible fixed assets +€32,026
up €32,026 (+276%), from €11,589 to €43,615
of which Leasing and similar rights: +€40,276
- Cash -€25,269
down €25,269 (-33.5%), from €75,510 to €50,241
mainly Investment in fixed assets (net) (-€44,579) and Other debts (-€17,976)
- Stocks and contracts -€3,433
down €3,433 (-16.3%), from €21,056 to €17,623
- Debts after one year +€21,429
new in 2025: €21,429
- Other debts -€17,976
down €17,976 (-68.8%), from €26,124 to €8,148
- Current portion of long-term debt +€6,226
new in 2025: €6,226
- Reserves -€6,047
down €6,047 (-18.7%), from €32,325 to €26,278
of which Distributable reserves: -€6,047
- Depreciation +€4,002
up €4,002 (+46.8%), from €8,550 to €12,553
- Financial charges +€849
up €849 (+172%), from €492 to €1,341
- Gross operating margin -€757
down €757 (-3.8%), from €19,922 to €19,165
- Other operating charges -€355
down €355 (-11.3%), from €3,130 to €2,775
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €130,684 | €134,590 | +€3,906 | +3.0% |
| Fixed assets | 21/28 | €11,639 | €43,665 | +€32,026 | +275% |
| Tangible fixed assets | 22/27 | €11,589 | €43,615 | +€32,026 | +276% |
| Plant, machinery and equipment | 23 | €3,556 | €1,667 | -€1,889 | -53.1% |
| Furniture and vehicles | 24 | €8,032 | €1,672 | -€6,361 | -79.2% |
| Leasing and similar rights | 25 | - | €40,276 | +€40,276 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €119,045 | €90,926 | -€28,120 | -23.6% |
| Stocks and contracts in progress | 3 | €21,056 | €17,623 | -€3,433 | -16.3% |
| Stocks | 30/36 | €21,056 | €17,623 | -€3,433 | -16.3% |
| Amounts receivable within one year | 40/41 | €19,423 | €20,661 | +€1,238 | +6.4% |
| Trade receivables | 40 | €16,494 | €8,441 | -€8,054 | -48.8% |
| Other amounts receivable | 41 | €2,928 | €12,220 | +€9,292 | +317% |
| Cash at bank and in hand | 54/58 | €75,510 | €50,241 | -€25,269 | -33.5% |
| Deferred charges and accrued income | 490/1 | €3,056 | €2,401 | -€655 | -21.4% |
| Total equity and liabilities | 10/49 | €130,684 | €134,590 | +€3,906 | +3.0% |
| Equity | 10/15 | €97,041 | €90,995 | -€6,047 | -6.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €32,325 | €26,278 | -€6,047 | -18.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €30,466 | €24,419 | -€6,047 | -19.8% |
| Profit (loss) carried forward | 14 | €46,124 | €46,124 | = | 0.0% |
| Amounts payable | 17/49 | €33,643 | €43,596 | +€9,953 | +29.6% |
| Amounts payable after more than one year | 17 | - | €21,429 | +€21,429 | |
| Financial debts | 170/4 | - | €21,429 | +€21,429 | |
| Amounts payable within one year | 42/48 | €33,643 | €22,167 | -€11,476 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | - | €6,226 | +€6,226 | |
| Trade debts | 44 | €7,273 | €6,978 | -€296 | -4.1% |
| Suppliers | 440/4 | €7,273 | €6,978 | -€296 | -4.1% |
| Taxes, remuneration and social security | 45 | €245 | €815 | +€570 | +232% |
| Taxes | 450/3 | €245 | €815 | +€570 | +232% |
| Other amounts payable | 47/48 | €26,124 | €8,148 | -€17,976 | -68.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,550 | €12,553 | +€4,002 | +46.8% |
| Other operating charges | 640/8 | €3,130 | €2,775 | -€355 | -11.3% |
| Non-recurring operating charges | 66A | €5,194 | - | -€5,194 | |
| Gross operating margin | 9900 | €19,922 | €19,165 | -€757 | -3.8% |
| Operating profit (loss) | 9901 | €3,047 | €3,837 | +€790 | +25.9% |
| Financial income | 75/76B | €145 | €287 | +€142 | +98.1% |
| Recurring financial income | 75 | €145 | €287 | +€142 | +98.1% |
| Financial charges | 65/66B | €492 | €1,341 | +€849 | +172% |
| Recurring financial charges | 65 | €492 | €1,341 | +€849 | +172% |
| Profit (loss) for the period before taxes | 9903 | €2,700 | €2,783 | +€83 | +3.1% |
| Income taxes | 67/77 | €245 | €253 | +€8 | +3.1% |
| Profit (loss) for the period | 9904 | €2,454 | €2,530 | +€75 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,454 | €2,530 | +€75 | +3.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.