CHAFLO: 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.
CHAFLO
Largest movements
- Current investments +€450,000
up €450,000 (+450%), from €100,000 to €550,000
- Financial fixed assets -€75,000
down €75,000 (-1.8%), from €4.1m to €4.0m
- Reserves +€915,690
up €915,690 (+32.1%), from €2.8m to €3.8m
of which Distributable reserves: +€915,690
- Profit (loss) carried forward -€649,614
no longer reported in 2025 (was €649,614)
- Gross operating margin +€196,704
up €196,704 (+75.7%), from €259,969 to €456,673
- Taxes +€42,181
up €42,181 (+109%), from €38,577 to €80,757
- Financial income +€30,120
up €30,120 (+1,618%), from €1,861 to €31,981
- Financial charges -€15,857
down €15,857 (-99.2%), from €15,990 to €133
- Staff costs +€10,486
up €10,486 (+13.1%), from €80,194 to €90,681
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 | €5,882,048 | €6,166,390 | +€284,342 | +4.8% |
| Fixed assets | 21/28 | €5,139,801 | €5,020,245 | -€119,556 | -2.3% |
| Tangible fixed assets | 22/27 | €1,076,149 | €1,031,593 | -€44,556 | -4.1% |
| Land and buildings | 22 | €943,123 | €927,615 | -€15,509 | -1.6% |
| Plant, machinery and equipment | 23 | €3,711 | €2,734 | -€977 | -26.3% |
| Furniture and vehicles | 24 | €129,315 | €101,244 | -€28,071 | -21.7% |
| Financial fixed assets | 28 | €4,063,651 | €3,988,651 | -€75,000 | -1.8% |
| Current assets | 29/58 | €742,247 | €1,146,145 | +€403,898 | +54.4% |
| Amounts receivable within one year | 40/41 | €63,561 | €79,136 | +€15,575 | +24.5% |
| Trade receivables | 40 | €61,442 | €67,665 | +€6,224 | +10.1% |
| Other amounts receivable | 41 | €2,120 | €11,471 | +€9,351 | +441% |
| Current investments | 50/53 | €100,000 | €550,000 | +€450,000 | +450% |
| Cash at bank and in hand | 54/58 | €539,829 | €489,169 | -€50,659 | -9.4% |
| Deferred charges and accrued income | 490/1 | €38,858 | €27,840 | -€11,018 | -28.4% |
| Total equity and liabilities | 10/49 | €5,882,048 | €6,166,390 | +€284,342 | +4.8% |
| Equity | 10/15 | €5,854,856 | €6,120,931 | +€266,076 | +4.5% |
| Contributions | 10/11 | €2,356,043 | €2,356,043 | = | 0.0% |
| Reserves | 13 | €2,849,199 | €3,764,889 | +€915,690 | +32.1% |
| Tax-exempt reserves | 132 | €12,698 | €12,698 | = | 0.0% |
| Distributable reserves | 133 | €2,836,501 | €3,752,190 | +€915,690 | +32.3% |
| Profit (loss) carried forward | 14 | €649,614 | - | -€649,614 | |
| Amounts payable | 17/49 | €27,192 | €45,458 | +€18,266 | +67.2% |
| Amounts payable within one year | 42/48 | €18,173 | €44,767 | +€26,594 | +146% |
| Trade debts | 44 | €1,134 | €24,447 | +€23,314 | +2,056% |
| Suppliers | 440/4 | €1,134 | €24,447 | +€23,314 | +2,056% |
| Taxes, remuneration and social security | 45 | €17,039 | €20,319 | +€3,280 | +19.2% |
| Taxes | 450/3 | €9,500 | €6,928 | -€2,573 | -27.1% |
| Remuneration and social security | 454/9 | €7,539 | €13,392 | +€5,853 | +77.6% |
| Accrued charges and deferred income | 492/3 | €9,019 | €692 | -€8,328 | -92.3% |
| Remuneration, social security and pensions | 62 | €80,194 | €90,681 | +€10,486 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,049 | €44,556 | +€8,507 | +23.6% |
| Other operating charges | 640/8 | €4,222 | €3,721 | -€502 | -11.9% |
| Gross operating margin | 9900 | €259,969 | €456,673 | +€196,704 | +75.7% |
| Operating profit (loss) | 9901 | €139,504 | €317,716 | +€178,212 | +128% |
| Financial income | 75/76B | €1,861 | €31,981 | +€30,120 | +1,618% |
| Recurring financial income | 75 | €1,861 | €31,981 | +€30,120 | +1,618% |
| Financial charges | 65/66B | €15,990 | €133 | -€15,857 | -99.2% |
| Recurring financial charges | 65 | €15,990 | €133 | -€15,857 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | €125,375 | €349,565 | +€224,190 | +179% |
| Income taxes | 67/77 | €38,577 | €80,757 | +€42,181 | +109% |
| Profit (loss) for the period | 9904 | €86,798 | €268,807 | +€182,009 | +210% |
| Profit (loss) for the period to be appropriated | 9905 | €86,798 | €268,807 | +€182,009 | +210% |
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 17 October 2026 via checked.be.