CHAFI: 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.
CHAFI
Largest movements
- Cash +€128,184
up €128,184 (+1307.5%), from €9,804 to €137,988
mainly Other debts (+€171,387) and Receivables within one year (+€56,537)
- Receivables within one year -€56,537
down €56,537 (-27.9%), from €202,777 to €146,240
of which Trade receivables: -€89,724
- Other debts +€171,387
up €171,387, from €0 to €171,387
- Debts after one year -€122,217
down €122,217 (-9.9%), from €1.2m to €1.1m
- Reserves +€45,720
up €45,720 (+28.1%), from €162,930 to €208,650
- Trade debts -€39,105
down €39,105 (-93.6%), from €41,780 to €2,675
- Gross operating margin -€18,420
down €18,420 (-14.4%), from €127,803 to €109,383
- Taxes -€6,962
down €6,962 (-26.9%), from €25,842 to €18,879
- Financial charges -€4,111
down €4,111 (-9.6%), from €42,749 to €38,638
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 | €1,713,371 | €1,788,751 | +€75,380 | +4.4% |
| Fixed assets | 21/28 | €1,477,398 | €1,481,130 | +€3,732 | +0.3% |
| Tangible fixed assets | 22/27 | €95,567 | €99,299 | +€3,732 | +3.9% |
| Land and buildings | 22 | €95,567 | €99,299 | +€3,732 | +3.9% |
| Financial fixed assets | 28 | €1,381,831 | €1,381,831 | = | 0.0% |
| Current assets | 29/58 | €235,974 | €307,621 | +€71,647 | +30.4% |
| Stocks and contracts in progress | 3 | €23,393 | €23,393 | = | 0.0% |
| Stocks | 30/36 | €23,393 | €23,393 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €202,777 | €146,240 | -€56,537 | -27.9% |
| Trade receivables | 40 | €100,964 | €11,240 | -€89,724 | -88.9% |
| Other amounts receivable | 41 | €101,813 | €135,000 | +€33,187 | +32.6% |
| Cash at bank and in hand | 54/58 | €9,804 | €137,988 | +€128,184 | +1307.5% |
| Total equity and liabilities | 10/49 | €1,713,371 | €1,788,751 | +€75,380 | +4.4% |
| Equity | 10/15 | €300,681 | €346,401 | +€45,720 | +15.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €162,930 | €208,650 | +€45,720 | +28.1% |
| Distributable reserves | 133 | €162,930 | €208,650 | +€45,720 | +28.1% |
| Profit (loss) carried forward | 14 | €131,550 | €131,550 | = | 0.0% |
| Amounts payable | 17/49 | €1,412,691 | €1,442,350 | +€29,659 | +2.1% |
| Amounts payable after more than one year | 17 | €1,232,601 | €1,110,384 | -€122,217 | -9.9% |
| Financial debts | 170/4 | €1,232,601 | €1,110,384 | -€122,217 | -9.9% |
| Amounts payable within one year | 42/48 | €180,090 | €331,966 | +€151,877 | +84.3% |
| Current portion of amounts payable after more than one year | 42 | €115,759 | €118,917 | +€3,158 | +2.7% |
| Financial debts | 43 | €2,365 | €2,375 | +€10 | +0.4% |
| Credit institutions | 430/8 | €2,365 | €2,375 | +€10 | +0.4% |
| Trade debts | 44 | €41,780 | €2,675 | -€39,105 | -93.6% |
| Suppliers | 440/4 | €41,780 | €2,675 | -€39,105 | -93.6% |
| Taxes, remuneration and social security | 45 | €20,186 | €36,612 | +€16,426 | +81.4% |
| Taxes | 450/3 | €17,936 | €36,612 | +€18,676 | +104.1% |
| Remuneration and social security | 454/9 | €2,250 | - | -€2,250 | |
| Other amounts payable | 47/48 | €0 | €171,387 | +€171,387 | |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,270 | €5,637 | +€366 | +7.0% |
| Other operating charges | 640/8 | €1,581 | €509 | -€1,071 | -67.8% |
| Gross operating margin | 9900 | €127,803 | €109,383 | -€18,420 | -14.4% |
| Operating profit (loss) | 9901 | €120,952 | €103,237 | -€17,715 | -14.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €42,749 | €38,638 | -€4,111 | -9.6% |
| Recurring financial charges | 65 | €42,749 | €38,638 | -€4,111 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €78,203 | €64,599 | -€13,604 | -17.4% |
| Income taxes | 67/77 | €25,842 | €18,879 | -€6,962 | -26.9% |
| Profit (loss) for the period | 9904 | €52,362 | €45,720 | -€6,642 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,362 | €45,720 | -€6,642 | -12.7% |
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 5 October 2026 via checked.be.