CHAD: 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.
CHAD
Largest movements
- Stocks and contracts -€68,381
down €68,381 (-68.1%), from €100,381 to €32,000
of which Contracts in progress: -€44,385
- Receivables within one year +€62,944
up €62,944 (+14.8%), from €423,942 to €486,886
of which Other amounts receivable: +€52,477
- Cash +€52,519
up €52,519 (+155.5%), from €33,771 to €86,290
mainly Depreciation (+€73,262) and Stocks and contracts (+€68,381)
- Trade debts -€46,695
down €46,695 (-15.0%), from €310,878 to €264,184
- Accrued charges and deferred income +€34,669
up €34,669 (+625.5%), from €5,543 to €40,211
- Other debts +€30,000
up €30,000, from €0 to €30,000
- Reserves +€24,870
up €24,870 (+8.5%), from €291,669 to €316,539
- Current portion of long-term debt -€12,684
down €12,684 (-35.6%), from €35,615 to €22,931
- Gross operating margin +€111,184
up €111,184 (+54.1%), from €205,394 to €316,578
- Staff costs +€20,697
up €20,697 (+17.5%), from €118,150 to €138,847
- Depreciation -€9,954
down €9,954 (-12.0%), from €83,215 to €73,262
- Taxes +€9,674
up €9,674 (+573.7%), from €1,686 to €11,360
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 | €684,547 | €725,769 | +€41,222 | +6.0% |
| Fixed assets | 21/28 | €119,075 | €114,079 | -€4,996 | -4.2% |
| Tangible fixed assets | 22/27 | €100,062 | €95,066 | -€4,996 | -5.0% |
| Plant, machinery and equipment | 23 | €59,894 | €15,471 | -€44,424 | -74.2% |
| Furniture and vehicles | 24 | €40,167 | €79,595 | +€39,428 | +98.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €19,013 | €19,013 | = | 0.0% |
| Current assets | 29/58 | €565,473 | €611,691 | +€46,218 | +8.2% |
| Stocks and contracts in progress | 3 | €100,381 | €32,000 | -€68,381 | -68.1% |
| Stocks | 30/36 | €55,995 | €32,000 | -€23,995 | -42.9% |
| Contracts in progress | 37 | €44,385 | €0 | -€44,385 | -100.0% |
| Amounts receivable within one year | 40/41 | €423,942 | €486,886 | +€62,944 | +14.8% |
| Trade receivables | 40 | €219,888 | €230,355 | +€10,467 | +4.8% |
| Other amounts receivable | 41 | €204,054 | €256,531 | +€52,477 | +25.7% |
| Cash at bank and in hand | 54/58 | €33,771 | €86,290 | +€52,519 | +155.5% |
| Deferred charges and accrued income | 490/1 | €7,379 | €6,515 | -€865 | -11.7% |
| Total equity and liabilities | 10/49 | €684,547 | €725,769 | +€41,222 | +6.0% |
| Equity | 10/15 | €321,669 | €346,539 | +€24,870 | +7.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €291,669 | €316,539 | +€24,870 | +8.5% |
| Distributable reserves | 133 | €291,669 | €316,539 | +€24,870 | +8.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €362,879 | €379,231 | +€16,352 | +4.5% |
| Amounts payable after more than one year | 17 | €0 | €5,849 | +€5,849 | |
| Financial debts | 170/4 | €0 | €5,849 | +€5,849 | |
| Amounts payable within one year | 42/48 | €357,336 | €333,170 | -€24,166 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €35,615 | €22,931 | -€12,684 | -35.6% |
| Financial debts | 43 | €4,148 | €0 | -€4,148 | -100.0% |
| Credit institutions | 430/8 | €4,148 | €0 | -€4,148 | -100.0% |
| Trade debts | 44 | €310,878 | €264,184 | -€46,695 | -15.0% |
| Suppliers | 440/4 | €310,878 | €264,184 | -€46,695 | -15.0% |
| Taxes, remuneration and social security | 45 | €6,695 | €16,056 | +€9,361 | +139.8% |
| Taxes | 450/3 | €1,081 | €3,222 | +€2,142 | +198.2% |
| Remuneration and social security | 454/9 | €5,614 | €12,833 | +€7,219 | +128.6% |
| Other amounts payable | 47/48 | €0 | €30,000 | +€30,000 | |
| Accrued charges and deferred income | 492/3 | €5,543 | €40,211 | +€34,669 | +625.5% |
| Remuneration, social security and pensions | 62 | €118,150 | €138,847 | +€20,697 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,215 | €73,262 | -€9,954 | -12.0% |
| Other operating charges | 640/8 | €4,750 | €4,619 | -€131 | -2.8% |
| Non-recurring operating charges | 66A | - | €39,300 | +€39,300 | |
| Gross operating margin | 9900 | €205,394 | €316,578 | +€111,184 | +54.1% |
| Operating profit (loss) | 9901 | -€721 | €60,551 | +€61,272 | |
| Financial income | 75/76B | €6,948 | €8,056 | +€1,108 | +15.9% |
| Recurring financial income | 75 | €6,948 | €8,056 | +€1,108 | +15.9% |
| Financial charges | 65/66B | €2,472 | €2,377 | -€95 | -3.9% |
| Recurring financial charges | 65 | €2,472 | €2,377 | -€95 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €3,755 | €66,230 | +€62,475 | +1664.0% |
| Income taxes | 67/77 | €1,686 | €11,360 | +€9,674 | +573.7% |
| Profit (loss) for the period | 9904 | €2,068 | €54,870 | +€52,802 | +2552.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,068 | €54,870 | +€52,802 | +2552.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.