Challenge Company: what changed
Challenge Company
Largest movements
- Receivables within one year -€29,142
down €29,142 (-75.0%), from €38,875 to €9,733
of which Trade receivables: -€21,664
- Cash +€19,180
up €19,180 (+216%), from €8,862 to €28,042
mainly Receivables within one year (+€29,142) and Receivables after one year (+€15,000)
- Receivables after one year -€15,000
down €15,000 (-42.9%), from €35,000 to €20,000
- Tangible fixed assets -€12,038
down €12,038 (-71.4%), from €16,855 to €4,817
of which Furniture and vehicles: -€11,278
- Provisions -€18,000
down €18,000 (-47.4%), from €38,000 to €20,000
- Current portion of long-term debt -€13,103
no longer reported in 2025 (was €13,103)
- Contributions +€12,450
up €12,450 (+34.4%), from €36,200 to €48,650
- Tax, wage and social debts -€12,295
down €12,295 (-86.6%), from €14,200 to €1,905
of which Remuneration and social security: -€11,000
- Other debts -€11,071
down €11,071 (-78.9%), from €14,025 to €2,954
- Gross operating margin -€16,319
down €16,319 (-50.8%), from €32,110 to €15,791
- Depreciation -€8,038
down €8,038 (-40.0%), from €20,076 to €12,038
- Purchases and services +€5,356
up €5,356 (+3.5%), from €154,845 to €160,201
- Taxes -€4,221
no longer reported in 2025 (was €4,221)
- Turnover -€2,546
down €2,546 (-1.4%), from €178,538 to €175,992
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,892 | €142,892 | -€37,000 | -20.6% |
| Fixed assets | 21/28 | €97,155 | €85,117 | -€12,038 | -12.4% |
| Tangible fixed assets | 22/27 | €16,855 | €4,817 | -€12,038 | -71.4% |
| Plant, machinery and equipment | 23 | €1,657 | €897 | -€760 | -45.9% |
| Furniture and vehicles | 24 | €15,198 | €3,920 | -€11,278 | -74.2% |
| Financial fixed assets | 28 | €80,300 | €80,300 | = | 0.0% |
| Current assets | 29/58 | €82,737 | €57,775 | -€24,962 | -30.2% |
| Amounts receivable after more than one year | 29 | €35,000 | €20,000 | -€15,000 | -42.9% |
| Trade receivables | 290 | €35,000 | €20,000 | -€15,000 | -42.9% |
| Amounts receivable within one year | 40/41 | €38,875 | €9,733 | -€29,142 | -75.0% |
| Trade receivables | 40 | €30,389 | €8,725 | -€21,664 | -71.3% |
| Other amounts receivable | 41 | €8,486 | €1,008 | -€7,478 | -88.1% |
| Cash at bank and in hand | 54/58 | €8,862 | €28,042 | +€19,180 | +216% |
| Total equity and liabilities | 10/49 | €179,892 | €142,892 | -€37,000 | -20.6% |
| Equity | 10/15 | €94,947 | €109,384 | +€14,437 | +15.2% |
| Contributions | 10/11 | €36,200 | €48,650 | +€12,450 | +34.4% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,887 | €58,874 | +€1,987 | +3.5% |
| Provisions and deferred taxes | 16 | €38,000 | €20,000 | -€18,000 | -47.4% |
| Deferred taxes | 168 | €38,000 | €20,000 | -€18,000 | -47.4% |
| Amounts payable | 17/49 | €46,945 | €13,508 | -€33,437 | -71.2% |
| Amounts payable within one year | 42/48 | €46,945 | €13,508 | -€33,437 | -71.2% |
| Current portion of amounts payable after more than one year | 42 | €13,103 | - | -€13,103 | |
| Trade debts | 44 | €5,617 | €8,649 | +€3,032 | +54.0% |
| Suppliers | 440/4 | €5,617 | €8,649 | +€3,032 | +54.0% |
| Taxes, remuneration and social security | 45 | €14,200 | €1,905 | -€12,295 | -86.6% |
| Taxes | 450/3 | €3,200 | €1,905 | -€1,295 | -40.5% |
| Remuneration and social security | 454/9 | €11,000 | - | -€11,000 | |
| Other amounts payable | 47/48 | €14,025 | €2,954 | -€11,071 | -78.9% |
| Turnover | 70 | €178,538 | €175,992 | -€2,546 | -1.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €154,845 | €160,201 | +€5,356 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,076 | €12,038 | -€8,038 | -40.0% |
| Other operating charges | 640/8 | €1,593 | €1,225 | -€368 | -23.1% |
| Gross operating margin | 9900 | €32,110 | €15,791 | -€16,319 | -50.8% |
| Operating profit (loss) | 9901 | €10,441 | €2,528 | -€7,913 | -75.8% |
| Financial income | 75/76B | €59 | €31 | -€28 | -47.5% |
| Recurring financial income | 75 | €59 | €31 | -€28 | -47.5% |
| Financial charges | 65/66B | €1,408 | €572 | -€836 | -59.4% |
| Recurring financial charges | 65 | €1,408 | €572 | -€836 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | €9,092 | €1,987 | -€7,105 | -78.1% |
| Income taxes | 67/77 | €4,221 | - | -€4,221 | |
| Profit (loss) for the period | 9904 | €4,871 | €1,987 | -€2,884 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,871 | €1,987 | -€2,884 | -59.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.