CHAFFCO: 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.
CHAFFCO
Largest movements
- Cash +€189,746
up €189,746 (+247.8%), from €76,584 to €266,330
mainly Net result for the year (+€447,916) and Depreciation (+€13,914)
- Current investments +€117,250
up €117,250 (+80.3%), from €146,000 to €263,250
- Tangible fixed assets -€8,914
down €8,914 (-15.3%), from €58,206 to €49,292
of which Furniture and vehicles: -€11,090
- Reserves +€277,916
up €277,916 (+77.0%), from €361,088 to €639,004
- Tax, wage and social debts +€10,416
up €10,416 (+24.4%), from €42,659 to €53,075
- Financial income +€297,224
up €297,224 (+265.8%), from €111,806 to €409,030
- Gross operating margin -€7,770
down €7,770 (-9.8%), from €78,899 to €71,129
- Other operating charges -€1,624
down €1,624 (-72.4%), from €2,244 to €620
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 | €447,914 | €739,097 | +€291,183 | +65.0% |
| Fixed assets | 21/28 | €61,306 | €52,392 | -€8,914 | -14.5% |
| Tangible fixed assets | 22/27 | €58,206 | €49,292 | -€8,914 | -15.3% |
| Land and buildings | 22 | €11,093 | €8,269 | -€2,824 | -25.5% |
| Furniture and vehicles | 24 | €40,613 | €29,523 | -€11,090 | -27.3% |
| Other tangible fixed assets | 26 | €6,500 | €11,500 | +€5,000 | +76.9% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €386,608 | €686,705 | +€300,097 | +77.6% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Trade receivables | 290 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,288 | €3,236 | -€7,052 | -68.5% |
| Other amounts receivable | 41 | €10,288 | €3,236 | -€7,052 | -68.5% |
| Current investments | 50/53 | €146,000 | €263,250 | +€117,250 | +80.3% |
| Cash at bank and in hand | 54/58 | €76,584 | €266,330 | +€189,746 | +247.8% |
| Deferred charges and accrued income | 490/1 | €3,736 | €3,889 | +€153 | +4.1% |
| Total equity and liabilities | 10/49 | €447,914 | €739,097 | +€291,183 | +65.0% |
| Equity | 10/15 | €379,688 | €657,604 | +€277,916 | +73.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €361,088 | €639,004 | +€277,916 | +77.0% |
| Distributable reserves | 133 | €361,088 | €639,004 | +€277,916 | +77.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €68,226 | €81,493 | +€13,267 | +19.4% |
| Amounts payable after more than one year | 17 | €18,703 | €12,712 | -€5,991 | -32.0% |
| Financial debts | 170/4 | €18,703 | €12,712 | -€5,991 | -32.0% |
| Amounts payable within one year | 42/48 | €49,523 | €68,781 | +€19,259 | +38.9% |
| Current portion of amounts payable after more than one year | 42 | €5,761 | €5,991 | +€231 | +4.0% |
| Financial debts | 43 | €0 | €5,046 | +€5,046 | |
| Credit institutions | 430/8 | €0 | €5,046 | +€5,046 | |
| Trade debts | 44 | €1,103 | €1,441 | +€338 | +30.7% |
| Suppliers | 440/4 | €1,103 | €1,441 | +€338 | +30.7% |
| Taxes, remuneration and social security | 45 | €42,659 | €53,075 | +€10,416 | +24.4% |
| Taxes | 450/3 | €42,659 | €53,075 | +€10,416 | +24.4% |
| Other amounts payable | 47/48 | - | €3,228 | +€3,228 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,119 | €13,914 | -€205 | -1.5% |
| Other operating charges | 640/8 | €2,244 | €620 | -€1,624 | -72.4% |
| Gross operating margin | 9900 | €78,899 | €71,129 | -€7,770 | -9.8% |
| Operating profit (loss) | 9901 | €62,535 | €56,594 | -€5,940 | -9.5% |
| Financial income | 75/76B | €111,806 | €409,030 | +€297,224 | +265.8% |
| Recurring financial income | 75 | €111,806 | €409,030 | +€297,224 | +265.8% |
| Financial charges | 65/66B | €1,600 | €1,500 | -€100 | -6.3% |
| Recurring financial charges | 65 | €1,600 | €1,500 | -€100 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €172,741 | €464,124 | +€291,383 | +168.7% |
| Income taxes | 67/77 | €16,873 | €16,209 | -€664 | -3.9% |
| Profit (loss) for the period | 9904 | €155,868 | €447,916 | +€292,048 | +187.4% |
| Profit (loss) for the period to be appropriated | 9905 | €155,868 | €447,916 | +€292,048 | +187.4% |
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 1 October 2026 via checked.be.