CH&W: 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.
CH&W
Largest movements
- Receivables within one year +€44,571
up €44,571 (+318.2%), from €14,007 to €58,578
of which Trade receivables: +€39,292
- Tangible fixed assets -€18,573
down €18,573 (-19.3%), from €96,414 to €77,841
- Stocks and contracts -€12,412
down €12,412 (-9.4%), from €131,990 to €119,578
- Deferred charges and accrued income +€4,872
up €4,872 (+231.8%), from €2,102 to €6,974
- Trade debts +€25,010
up €25,010 (+913.0%), from €2,739 to €27,749
- Tax, wage and social debts +€17,614
up €17,614 (+126.6%), from €13,917 to €31,532
of which Taxes: +€18,175
- Other debts -€12,894
down €12,894 (-16.7%), from €77,268 to €64,374
- Debts after one year -€6,072
down €6,072 (-16.9%), from €35,981 to €29,909
- Accrued charges and deferred income -€5,595
down €5,595 (-100.0%), from €5,595 to €0
- Gross operating margin -€33,873
down €33,873 (-18.1%), from €187,480 to €153,607
- Taxes -€9,708
down €9,708 (-69.8%), from €13,900 to €4,192
- Staff costs +€4,875
up €4,875 (+4.2%), from €115,741 to €120,616
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 | €311,241 | €326,729 | +€15,488 | +5.0% |
| Fixed assets | 21/28 | €96,414 | €77,841 | -€18,573 | -19.3% |
| Tangible fixed assets | 22/27 | €96,414 | €77,841 | -€18,573 | -19.3% |
| Plant, machinery and equipment | 23 | €1,729 | - | -€1,729 | |
| Furniture and vehicles | 24 | €34,879 | €26,890 | -€7,990 | -22.9% |
| Other tangible fixed assets | 26 | €59,805 | €50,951 | -€8,854 | -14.8% |
| Current assets | 29/58 | €214,827 | €248,888 | +€34,061 | +15.9% |
| Stocks and contracts in progress | 3 | €131,990 | €119,578 | -€12,412 | -9.4% |
| Stocks | 30/36 | €131,990 | €119,578 | -€12,412 | -9.4% |
| Amounts receivable within one year | 40/41 | €14,007 | €58,578 | +€44,571 | +318.2% |
| Trade receivables | 40 | €3,186 | €42,478 | +€39,292 | +1233.2% |
| Other amounts receivable | 41 | €10,821 | €16,100 | +€5,278 | +48.8% |
| Cash at bank and in hand | 54/58 | €66,728 | €63,758 | -€2,970 | -4.5% |
| Deferred charges and accrued income | 490/1 | €2,102 | €6,974 | +€4,872 | +231.8% |
| Total equity and liabilities | 10/49 | €311,241 | €326,729 | +€15,488 | +5.0% |
| Equity | 10/15 | €165,169 | €167,092 | +€1,923 | +1.2% |
| Reserves | 13 | €165,169 | €167,092 | +€1,923 | +1.2% |
| Distributable reserves | 133 | €165,169 | €167,092 | +€1,923 | +1.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €146,072 | €159,636 | +€13,565 | +9.3% |
| Amounts payable after more than one year | 17 | €35,981 | €29,909 | -€6,072 | -16.9% |
| Financial debts | 170/4 | €35,981 | €29,909 | -€6,072 | -16.9% |
| Amounts payable within one year | 42/48 | €104,495 | €129,727 | +€25,232 | +24.1% |
| Current portion of amounts payable after more than one year | 42 | €10,570 | €6,072 | -€4,498 | -42.6% |
| Trade debts | 44 | €2,739 | €27,749 | +€25,010 | +913.0% |
| Suppliers | 440/4 | €2,739 | €27,749 | +€25,010 | +913.0% |
| Taxes, remuneration and social security | 45 | €13,917 | €31,532 | +€17,614 | +126.6% |
| Taxes | 450/3 | €3,028 | €21,204 | +€18,175 | +600.2% |
| Remuneration and social security | 454/9 | €10,889 | €10,328 | -€561 | -5.2% |
| Other amounts payable | 47/48 | €77,268 | €64,374 | -€12,894 | -16.7% |
| Accrued charges and deferred income | 492/3 | €5,595 | €0 | -€5,595 | -100.0% |
| Non-recurring operating income | 76A | €4,592 | €0 | -€4,592 | -100.0% |
| Remuneration, social security and pensions | 62 | €115,741 | €120,616 | +€4,875 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,504 | €18,573 | -€931 | -4.8% |
| Other operating charges | 640/8 | €694 | €857 | +€163 | +23.5% |
| Gross operating margin | 9900 | €187,480 | €153,607 | -€33,873 | -18.1% |
| Operating profit (loss) | 9901 | €51,540 | €13,561 | -€37,980 | -73.7% |
| Financial income | 75/76B | €126 | €88 | -€38 | -30.0% |
| Recurring financial income | 75 | €126 | €88 | -€38 | -30.0% |
| Financial charges | 65/66B | €6,308 | €7,533 | +€1,225 | +19.4% |
| Recurring financial charges | 65 | €6,308 | €7,533 | +€1,225 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €45,358 | €6,116 | -€39,242 | -86.5% |
| Income taxes | 67/77 | €13,900 | €4,192 | -€9,708 | -69.8% |
| Profit (loss) for the period | 9904 | €31,457 | €1,923 | -€29,534 | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,457 | €1,923 | -€29,534 | -93.9% |
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 10 October 2026 via checked.be.