Chalet Law: 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.
Chalet Law
Largest movements
- Intangible fixed assets -€75,000
down €75,000 (-27.9%), from €268,750 to €193,750
- Receivables within one year -€13,333
down €13,333 (-10.4%), from €128,141 to €114,808
of which Trade receivables: -€33,071
- Tangible fixed assets -€5,739
down €5,739 (-8.0%), from €71,822 to €66,083
of which Furniture and vehicles: -€4,021
- Trade debts -€302,862
down €302,862 (-80.0%), from €378,585 to €75,723
- Debts after one year +€202,358
up €202,358 (+75.0%), from €269,885 to €472,244
of which Other amounts payable: +€254,328
- Profit (loss) carried forward +€30,717
up €30,717 (+9.4%), from -€325,473 to -€294,756
- Advances received -€12,292
no longer reported in 2025 (was €12,292)
- Other debts -€8,123
down €8,123 (-96.4%), from €8,423 to €300
- Gross operating margin -€54,976
down €54,976 (-26.5%), from €207,276 to €152,300
- Staff costs -€23,478
no longer reported in 2025 (was €23,478)
- Other operating charges +€9,831
up €9,831 (+2,722%), from €361 to €10,193
- Financial charges +€8,387
up €8,387 (+136%), from €6,144 to €14,531
- Write-downs -€3,958
no longer reported in 2025 (was €3,958)
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 | €484,053 | €394,091 | -€89,962 | -18.6% |
| Fixed assets | 21/28 | €350,332 | €269,593 | -€80,739 | -23.0% |
| Intangible fixed assets | 21 | €268,750 | €193,750 | -€75,000 | -27.9% |
| Tangible fixed assets | 22/27 | €71,822 | €66,083 | -€5,739 | -8.0% |
| Furniture and vehicles | 24 | €64,486 | €60,465 | -€4,021 | -6.2% |
| Other tangible fixed assets | 26 | €7,336 | €5,618 | -€1,719 | -23.4% |
| Financial fixed assets | 28 | €9,760 | €9,760 | = | 0.0% |
| Current assets | 29/58 | €133,720 | €124,497 | -€9,223 | -6.9% |
| Amounts receivable within one year | 40/41 | €128,141 | €114,808 | -€13,333 | -10.4% |
| Trade receivables | 40 | €82,460 | €49,390 | -€33,071 | -40.1% |
| Other amounts receivable | 41 | €45,681 | €65,418 | +€19,738 | +43.2% |
| Cash at bank and in hand | 54/58 | €5,568 | €8,647 | +€3,079 | +55.3% |
| Deferred charges and accrued income | 490/1 | €11 | €1,042 | +€1,031 | +9,506% |
| Total equity and liabilities | 10/49 | €484,053 | €394,091 | -€89,962 | -18.6% |
| Equity | 10/15 | -€300,473 | -€269,756 | +€30,717 | +10.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€325,473 | -€294,756 | +€30,717 | +9.4% |
| Amounts payable | 17/49 | €784,526 | €663,847 | -€120,679 | -15.4% |
| Amounts payable after more than one year | 17 | €269,885 | €472,244 | +€202,358 | +75.0% |
| Financial debts | 170/4 | €177,035 | €125,066 | -€51,970 | -29.4% |
| Other amounts payable | 178/9 | €92,850 | €347,178 | +€254,328 | +274% |
| Amounts payable within one year | 42/48 | €514,640 | €191,603 | -€323,037 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €51,018 | €51,970 | +€952 | +1.9% |
| Financial debts | 43 | €5,746 | - | -€5,746 | |
| Credit institutions | 430/8 | €5,746 | - | -€5,746 | |
| Trade debts | 44 | €378,585 | €75,723 | -€302,862 | -80.0% |
| Suppliers | 440/4 | €378,585 | €75,723 | -€302,862 | -80.0% |
| Advances received on contracts in progress | 46 | €12,292 | - | -€12,292 | |
| Taxes, remuneration and social security | 45 | €58,575 | €63,610 | +€5,034 | +8.6% |
| Taxes | 450/3 | €56,046 | €63,610 | +€7,564 | +13.5% |
| Remuneration and social security | 454/9 | €2,530 | - | -€2,530 | |
| Other amounts payable | 47/48 | €8,423 | €300 | -€8,123 | -96.4% |
| Non-recurring operating income | 76A | - | €8,358 | +€8,358 | |
| Remuneration, social security and pensions | 62 | €23,478 | - | -€23,478 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,378 | €97,752 | -€2,626 | -2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,958 | - | -€3,958 | |
| Other operating charges | 640/8 | €361 | €10,193 | +€9,831 | +2,722% |
| Gross operating margin | 9900 | €207,276 | €152,300 | -€54,976 | -26.5% |
| Operating profit (loss) | 9901 | €79,101 | €44,355 | -€34,746 | -43.9% |
| Financial income | 75/76B | €394 | €1,108 | +€714 | +181% |
| Recurring financial income | 75 | €394 | €1,108 | +€714 | +181% |
| Financial charges | 65/66B | €6,144 | €14,531 | +€8,387 | +136% |
| Recurring financial charges | 65 | €6,144 | €14,531 | +€8,387 | +136% |
| Profit (loss) for the period before taxes | 9903 | €73,351 | €30,932 | -€42,419 | -57.8% |
| Income taxes | 67/77 | - | €215 | +€215 | |
| Profit (loss) for the period | 9904 | €73,351 | €30,717 | -€42,634 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,351 | €30,717 | -€42,634 | -58.1% |
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 18 October 2026 via checked.be.