CeHaCo: what changed
Two fiscal 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.
CeHaCo
Largest movements
- Receivables after one year -€33,161
down €33,161 (-72.6%), from €45,661 to €12,500
- Cash +€10,843
up €10,843 (+10.6%), from €102,610 to €113,452
mainly Other debts (+€127,853) and Net result for the year (+€83,699)
- Tangible fixed assets +€4,853
up €4,853 (+34.4%), from €14,095 to €18,948
of which Furniture and vehicles: +€5,633
- Other debts +€127,853
up €127,853 (+9223.6%), from €1,386 to €129,239
- Reserves -€124,000
down €124,000 (-96.7%), from €128,178 to €4,178
- Tax, wage and social debts -€19,349
down €19,349 (-67.6%), from €28,619 to €9,270
- Gross operating margin +€49,430
up €49,430 (+74.3%), from €66,531 to €115,961
- Taxes +€9,242
up €9,242 (+59.0%), from €15,663 to €24,905
- Financial income -€3,161
no longer reported in 2025 (was €3,161)
- Depreciation +€1,263
up €1,263 (+23.4%), from €5,392 to €6,655
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.
Cash bridge derived
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 | €162,366 | €145,954 | -€16,411 | -10.1% |
| Fixed assets | 21/28 | €14,095 | €18,948 | +€4,853 | +34.4% |
| Tangible fixed assets | 22/27 | €14,095 | €18,948 | +€4,853 | +34.4% |
| Furniture and vehicles | 24 | €10,834 | €16,467 | +€5,633 | +52.0% |
| Other tangible fixed assets | 26 | €3,261 | €2,481 | -€780 | -23.9% |
| Current assets | 29/58 | €148,271 | €127,007 | -€21,264 | -14.3% |
| Amounts receivable after more than one year | 29 | €45,661 | €12,500 | -€33,161 | -72.6% |
| Other amounts receivable | 291 | €45,661 | €12,500 | -€33,161 | -72.6% |
| Cash at bank and in hand | 54/58 | €102,610 | €113,452 | +€10,843 | +10.6% |
| Deferred charges and accrued income | 490/1 | - | €1,054 | +€1,054 | |
| Total equity and liabilities | 10/49 | €162,366 | €145,954 | -€16,411 | -10.1% |
| Equity | 10/15 | €130,678 | €6,678 | -€124,000 | -94.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €128,178 | €4,178 | -€124,000 | -96.7% |
| Distributable reserves | 133 | €128,178 | €4,178 | -€124,000 | -96.7% |
| Amounts payable | 17/49 | €31,688 | €139,277 | +€107,589 | +339.5% |
| Amounts payable within one year | 42/48 | €31,031 | €138,598 | +€107,568 | +346.7% |
| Trade debts | 44 | €1,025 | €90 | -€935 | -91.2% |
| Suppliers | 440/4 | €1,025 | €90 | -€935 | -91.2% |
| Taxes, remuneration and social security | 45 | €28,619 | €9,270 | -€19,349 | -67.6% |
| Taxes | 450/3 | €28,619 | €9,270 | -€19,349 | -67.6% |
| Other amounts payable | 47/48 | €1,386 | €129,239 | +€127,853 | +9223.6% |
| Accrued charges and deferred income | 492/3 | €658 | €679 | +€21 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,392 | €6,655 | +€1,263 | +23.4% |
| Other operating charges | 640/8 | €395 | €526 | +€132 | +33.3% |
| Gross operating margin | 9900 | €66,531 | €115,961 | +€49,430 | +74.3% |
| Operating profit (loss) | 9901 | €60,745 | €108,780 | +€48,035 | +79.1% |
| Financial income | 75/76B | €3,161 | - | -€3,161 | |
| Recurring financial income | 75 | €3,161 | - | -€3,161 | |
| Financial charges | 65/66B | €154 | €175 | +€21 | +13.9% |
| Recurring financial charges | 65 | €154 | €175 | +€21 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €63,752 | €108,605 | +€44,852 | +70.4% |
| Income taxes | 67/77 | €15,663 | €24,905 | +€9,242 | +59.0% |
| Profit (loss) for the period | 9904 | €48,089 | €83,699 | +€35,610 | +74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,089 | €83,699 | +€35,610 | +74.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.