C.T.B.Chapes: 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.T.B.Chapes
Largest movements
- Tangible fixed assets +€21,656
up €21,656 (+8.9%), from €244,068 to €265,724
of which Leasing and similar rights: +€27,719
- Cash -€20,019
down €20,019 (-63.9%), from €31,342 to €11,323
mainly Investment in fixed assets (net) (-€54,066) and Trade debts (-€26,508)
- Receivables within one year +€9,266
up €9,266 (+97.0%), from €9,553 to €18,819
of which Trade receivables: +€6,891
- Intangible fixed assets +€8,082
new in 2025: €8,082
- Trade debts -€26,508
down €26,508 (-67.1%), from €39,517 to €13,009
- Short-term financial debts +€25,000
new in 2025: €25,000
- Profit (loss) carried forward +€11,479
up €11,479 (+1,197%), from €959 to €12,438
- Tax, wage and social debts +€11,211
up €11,211 (+275%), from €4,075 to €15,286
of which Remuneration and social security: +€8,420
- Debts after one year +€6,176
up €6,176 (+2.4%), from €260,484 to €266,659
of which Financial debts: +€14,793
- Staff costs +€21,025
up €21,025 (+17.1%), from €122,634 to €143,660
- Depreciation -€5,409
down €5,409 (-18.2%), from €29,736 to €24,328
- Gross operating margin +€2,509
up €2,509 (+1.4%), from €185,403 to €187,913
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 | €334,108 | €355,670 | +€21,562 | +6.5% |
| Fixed assets | 21/28 | €245,488 | €275,227 | +€29,738 | +12.1% |
| Intangible fixed assets | 21 | - | €8,082 | +€8,082 | |
| Tangible fixed assets | 22/27 | €244,068 | €265,724 | +€21,656 | +8.9% |
| Land and buildings | 22 | €180,643 | €174,670 | -€5,973 | -3.3% |
| Plant, machinery and equipment | 23 | €45,864 | €38,224 | -€7,639 | -16.7% |
| Furniture and vehicles | 24 | €2,892 | €11,160 | +€8,268 | +286% |
| Leasing and similar rights | 25 | €8,227 | €35,946 | +€27,719 | +337% |
| Other tangible fixed assets | 26 | €6,443 | €5,725 | -€718 | -11.1% |
| Financial fixed assets | 28 | €1,420 | €1,420 | = | 0.0% |
| Current assets | 29/58 | €88,620 | €80,443 | -€8,177 | -9.2% |
| Stocks and contracts in progress | 3 | €43,626 | €46,610 | +€2,984 | +6.8% |
| Stocks | 30/36 | €43,626 | €46,610 | +€2,984 | +6.8% |
| Amounts receivable within one year | 40/41 | €9,553 | €18,819 | +€9,266 | +97.0% |
| Trade receivables | 40 | €6,086 | €12,977 | +€6,891 | +113% |
| Other amounts receivable | 41 | €3,466 | €5,842 | +€2,375 | +68.5% |
| Cash at bank and in hand | 54/58 | €31,342 | €11,323 | -€20,019 | -63.9% |
| Deferred charges and accrued income | 490/1 | €4,099 | €3,691 | -€407 | -9.9% |
| Total equity and liabilities | 10/49 | €334,108 | €355,670 | +€21,562 | +6.5% |
| Equity | 10/15 | €2,609 | €14,088 | +€11,479 | +440% |
| Contributions | 10/11 | €1,650 | €1,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €959 | €12,438 | +€11,479 | +1,197% |
| Amounts payable | 17/49 | €331,499 | €341,582 | +€10,083 | +3.0% |
| Amounts payable after more than one year | 17 | €260,484 | €266,659 | +€6,176 | +2.4% |
| Financial debts | 170/4 | €153,372 | €168,165 | +€14,793 | +9.6% |
| Other amounts payable | 178/9 | €107,112 | €98,495 | -€8,617 | -8.0% |
| Amounts payable within one year | 42/48 | €70,565 | €74,421 | +€3,856 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €26,973 | €21,126 | -€5,847 | -21.7% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €39,517 | €13,009 | -€26,508 | -67.1% |
| Suppliers | 440/4 | €39,517 | €13,009 | -€26,508 | -67.1% |
| Taxes, remuneration and social security | 45 | €4,075 | €15,286 | +€11,211 | +275% |
| Taxes | 450/3 | €281 | €3,072 | +€2,791 | +993% |
| Remuneration and social security | 454/9 | €3,794 | €12,214 | +€8,420 | +222% |
| Accrued charges and deferred income | 492/3 | €451 | €501 | +€51 | +11.2% |
| Non-recurring operating income | 76A | - | €1,844 | +€1,844 | |
| Remuneration, social security and pensions | 62 | €122,634 | €143,660 | +€21,025 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,736 | €24,328 | -€5,409 | -18.2% |
| Other operating charges | 640/8 | €1,321 | €1,372 | +€51 | +3.8% |
| Gross operating margin | 9900 | €185,403 | €187,913 | +€2,509 | +1.4% |
| Operating profit (loss) | 9901 | €31,711 | €18,553 | -€13,158 | -41.5% |
| Financial income | 75/76B | €150 | €147 | -€3 | -2.3% |
| Recurring financial income | 75 | €150 | €147 | -€3 | -2.3% |
| Financial charges | 65/66B | €7,239 | €7,221 | -€18 | -0.2% |
| Recurring financial charges | 65 | €7,239 | €7,221 | -€18 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €24,623 | €11,479 | -€13,144 | -53.4% |
| Profit (loss) for the period | 9904 | €24,623 | €11,479 | -€13,144 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,623 | €11,479 | -€13,144 | -53.4% |
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 25 October 2026 via checked.be.