CHALLENGE ASBL: 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.
CHALLENGE ASBL
Largest movements
- Cash +€203,809
up €203,809 (+160%), from €127,030 to €330,838
mainly Receivables within one year (+€149,743) and Contributions, distributions and other (+€99,725)
- Receivables within one year -€149,743
down €149,743 (-32.6%), from €459,372 to €309,630
of which Other amounts receivable: -€154,183
- Reserves +€160,536
up €160,536 (+574%), from €27,944 to €188,480
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Tax, wage and social debts +€19,928
up €19,928 (+23.9%), from €83,291 to €103,218
of which Taxes: +€19,223
- Trade debts -€17,137
down €17,137 (-12.8%), from €134,233 to €117,095
- Provisions -€13,064
down €13,064 (-39.4%), from €33,120 to €20,056
- Gross operating margin +€75,611
up €75,611 (+15.6%), from €483,608 to €559,219
- Staff costs +€43,873
up €43,873 (+10.1%), from €432,560 to €476,433
- Other operating charges +€8,148
up €8,148 (+45.6%), from €17,865 to €26,012
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 | €591,769 | €648,482 | +€56,713 | +9.6% |
| Fixed assets | 21/28 | €275 | €2,167 | +€1,892 | +688% |
| Tangible fixed assets | 22/27 | €275 | €2,167 | +€1,892 | +688% |
| Furniture and vehicles | 24 | €275 | €2,167 | +€1,892 | +688% |
| Current assets | 29/58 | €591,494 | €646,316 | +€54,821 | +9.3% |
| Amounts receivable within one year | 40/41 | €459,372 | €309,630 | -€149,743 | -32.6% |
| Trade receivables | 40 | €33,091 | €37,532 | +€4,441 | +13.4% |
| Other amounts receivable | 41 | €426,281 | €272,098 | -€154,183 | -36.2% |
| Cash at bank and in hand | 54/58 | €127,030 | €330,838 | +€203,809 | +160% |
| Deferred charges and accrued income | 490/1 | €5,092 | €5,848 | +€755 | +14.8% |
| Total equity and liabilities | 10/49 | €591,769 | €648,482 | +€56,713 | +9.6% |
| Equity | 10/15 | €45,040 | €212,027 | +€166,987 | +371% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Capital | 10 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €27,944 | €188,480 | +€160,536 | +574% |
| Profit (loss) carried forward | 14 | €4,321 | €11,047 | +€6,726 | +156% |
| Investment grants | 15 | €275 | - | -€275 | |
| Provisions and deferred taxes | 16 | €33,120 | €20,056 | -€13,064 | -39.4% |
| Amounts payable | 17/49 | €513,609 | €416,400 | -€97,210 | -18.9% |
| Amounts payable after more than one year | 17 | €196,086 | €196,086 | = | 0.0% |
| Other amounts payable | 178/9 | €196,086 | €196,086 | = | 0.0% |
| Amounts payable within one year | 42/48 | €317,523 | €220,314 | -€97,210 | -30.6% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €134,233 | €117,095 | -€17,137 | -12.8% |
| Suppliers | 440/4 | €134,233 | €117,095 | -€17,137 | -12.8% |
| Taxes, remuneration and social security | 45 | €83,291 | €103,218 | +€19,928 | +23.9% |
| Taxes | 450/3 | €17,696 | €36,919 | +€19,223 | +109% |
| Remuneration and social security | 454/9 | €65,595 | €66,299 | +€705 | +1.1% |
| Remuneration, social security and pensions | 62 | €432,560 | €476,433 | +€43,873 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €939 | €555 | -€383 | -40.8% |
| Other operating charges | 640/8 | €17,865 | €26,012 | +€8,148 | +45.6% |
| Gross operating margin | 9900 | €483,608 | €559,219 | +€75,611 | +15.6% |
| Operating profit (loss) | 9901 | €32,245 | €69,283 | +€37,038 | +115% |
| Financial income | 75/76B | €939 | €325 | -€614 | -65.4% |
| Recurring financial income | 75 | €939 | €325 | -€614 | -65.4% |
| Financial charges | 65/66B | €1,863 | €2,045 | +€182 | +9.8% |
| Recurring financial charges | 65 | €1,863 | €2,045 | +€182 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €31,321 | €67,563 | +€36,242 | +116% |
| Income taxes | 67/77 | €272 | €301 | +€29 | +10.8% |
| Profit (loss) for the period | 9904 | €31,049 | €67,262 | +€36,213 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €31,049 | €67,262 | +€36,213 | +117% |
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 14 October 2026 via checked.be.