Chadon: 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.
Chadon
Largest movements
- Stocks and contracts -€246,540
down €246,540 (-100%), from €246,540 to €0
- Tangible fixed assets -€201,987
down €201,987 (-24.2%), from €835,887 to €633,899
of which Land and buildings: -€197,325
- Cash +€33,032
up €33,032 (+36,763%), from €90 to €33,122
mainly Stocks and contracts (+€246,540) and Other debts (+€221,536)
- Receivables within one year -€24,361
down €24,361 (-26.9%), from €90,657 to €66,296
of which Other amounts receivable: -€23,907
- Short-term financial debts -€513,574
down €513,574 (-100%), from €513,574 to €0
of which Credit institutions: -€321,199
- Other debts +€221,536
up €221,536 (+67.3%), from €329,121 to €550,657
- Debts after one year -€193,851
down €193,851 (-33.4%), from €580,424 to €386,573
- Reserves +€114,205
new in 2025: €114,205
- Trade debts -€82,729
down €82,729 (-93.8%), from €88,175 to €5,446
- Gross operating margin +€155,592
up €155,592 (+206%), from €75,412 to €231,004
- Taxes +€65,323
up €65,323 (+431%), from €15,164 to €80,487
- Financial income +€37,821
up €37,821 (+24,897%), from €152 to €37,973
- Financial charges +€5,270
up €5,270 (+12.4%), from €42,495 to €47,764
- Depreciation -€4,990
down €4,990 (-19.9%), from €25,124 to €20,134
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 | €1,740,921 | €1,295,455 | -€445,466 | -25.6% |
| Fixed assets | 21/28 | €1,348,069 | €1,146,082 | -€201,987 | -15.0% |
| Tangible fixed assets | 22/27 | €835,887 | €633,899 | -€201,987 | -24.2% |
| Land and buildings | 22 | €827,716 | €630,390 | -€197,325 | -23.8% |
| Plant, machinery and equipment | 23 | €4,367 | €2,454 | -€1,913 | -43.8% |
| Furniture and vehicles | 24 | €3,803 | €1,055 | -€2,749 | -72.3% |
| Financial fixed assets | 28 | €512,182 | €512,182 | = | 0.0% |
| Current assets | 29/58 | €392,852 | €149,373 | -€243,479 | -62.0% |
| Stocks and contracts in progress | 3 | €246,540 | €0 | -€246,540 | -100% |
| Stocks | 30/36 | €246,540 | €0 | -€246,540 | -100% |
| Amounts receivable within one year | 40/41 | €90,657 | €66,296 | -€24,361 | -26.9% |
| Trade receivables | 40 | €37,661 | €37,208 | -€454 | -1.2% |
| Other amounts receivable | 41 | €52,996 | €29,089 | -€23,907 | -45.1% |
| Cash at bank and in hand | 54/58 | €90 | €33,122 | +€33,032 | +36,763% |
| Deferred charges and accrued income | 490/1 | €55,565 | €49,955 | -€5,610 | -10.1% |
| Total equity and liabilities | 10/49 | €1,740,921 | €1,295,455 | -€445,466 | -25.6% |
| Equity | 10/15 | €112,979 | €227,184 | +€114,205 | +101% |
| Contributions | 10/11 | €85,500 | €85,500 | = | 0.0% |
| Reserves | 13 | - | €114,205 | +€114,205 | |
| Distributable reserves | 133 | - | €114,205 | +€114,205 | |
| Profit (loss) carried forward | 14 | €27,479 | €27,479 | = | 0.0% |
| Amounts payable | 17/49 | €1,627,942 | €1,068,271 | -€559,671 | -34.4% |
| Amounts payable after more than one year | 17 | €580,424 | €386,573 | -€193,851 | -33.4% |
| Financial debts | 170/4 | €580,424 | €386,573 | -€193,851 | -33.4% |
| Amounts payable within one year | 42/48 | €1,035,666 | €681,698 | -€353,969 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €44,606 | €39,424 | -€5,182 | -11.6% |
| Financial debts | 43 | €513,574 | €0 | -€513,574 | -100% |
| Credit institutions | 430/8 | €321,199 | €0 | -€321,199 | -100% |
| Other loans | 439 | €192,375 | €0 | -€192,375 | -100% |
| Trade debts | 44 | €88,175 | €5,446 | -€82,729 | -93.8% |
| Suppliers | 440/4 | €88,175 | €5,446 | -€82,729 | -93.8% |
| Advances received on contracts in progress | 46 | €768 | €781 | +€14 | +1.8% |
| Taxes, remuneration and social security | 45 | €59,423 | €85,389 | +€25,966 | +43.7% |
| Taxes | 450/3 | €8,823 | €80,989 | +€72,166 | +818% |
| Remuneration and social security | 454/9 | €50,600 | €4,400 | -€46,200 | -91.3% |
| Other amounts payable | 47/48 | €329,121 | €550,657 | +€221,536 | +67.3% |
| Accrued charges and deferred income | 492/3 | €11,851 | €0 | -€11,851 | -100% |
| Non-recurring operating income | 76A | €0 | €43,147 | +€43,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,124 | €20,134 | -€4,990 | -19.9% |
| Other operating charges | 640/8 | €8,156 | €4,721 | -€3,436 | -42.1% |
| Non-recurring operating charges | 66A | €9,165 | €0 | -€9,165 | -100% |
| Gross operating margin | 9900 | €75,412 | €231,004 | +€155,592 | +206% |
| Operating profit (loss) | 9901 | €32,966 | €206,150 | +€173,183 | +525% |
| Financial income | 75/76B | €152 | €37,973 | +€37,821 | +24,897% |
| Recurring financial income | 75 | €152 | €37,973 | +€37,821 | +24,897% |
| Financial charges | 65/66B | €42,495 | €47,764 | +€5,270 | +12.4% |
| Recurring financial charges | 65 | €42,495 | €47,764 | +€5,270 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,377 | €196,358 | +€205,735 | |
| Income taxes | 67/77 | €15,164 | €80,487 | +€65,323 | +431% |
| Profit (loss) for the period | 9904 | -€24,541 | €115,871 | +€140,412 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,541 | €115,871 | +€140,412 |
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 24 October 2026 via checked.be.