ChallengerZ: 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.
ChallengerZ
Largest movements
- Stocks and contracts -€427,628
down €427,628 (-85.7%), from €499,180 to €71,553
- Cash +€65,076
up €65,076 (+713%), from €9,131 to €74,206
mainly Stocks and contracts (+€427,628) and Contributions, distributions and other (+€120,000)
- Receivables within one year +€53,858
up €53,858 (+115%), from €46,661 to €100,518
of which Trade receivables: +€60,517
- Deferred charges and accrued income -€15,766
down €15,766 (-78.6%), from €20,046 to €4,281
- Tangible fixed assets -€6,411
down €6,411 (-48.1%), from €13,342 to €6,931
of which Furniture and vehicles: -€3,882
- Debts after one year -€459,686
down €459,686 (-94.6%), from €485,686 to €26,000
- Contributions +€120,000
up €120,000 (+645%), from €18,600 to €138,600
- Profit (loss) carried forward +€51,544
up €51,544 (+37.6%), from -€137,052 to -€85,508
- Short-term financial debts -€36,445
down €36,445 (-99.2%), from €36,748 to €303
of which Credit institutions: -€36,748
- Other debts -€26,302
down €26,302 (-24.0%), from €109,516 to €83,215
- Gross operating margin +€68,284
up €68,284 (+178%), from €38,376 to €106,659
- Staff costs -€30,141
down €30,141 (-83.1%), from €36,252 to €6,111
- Financial charges +€23,445
up €23,445 (+237%), from €9,880 to €33,325
- Other operating charges +€4,834
up €4,834 (+187%), from €2,589 to €7,422
- Depreciation -€1,377
down €1,377 (-14.1%), from €9,782 to €8,405
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €588,360 | €257,489 | -€330,871 | -56.2% |
| Fixed assets | 21/28 | €13,342 | €6,931 | -€6,411 | -48.1% |
| Tangible fixed assets | 22/27 | €13,342 | €6,931 | -€6,411 | -48.1% |
| Land and buildings | 22 | €1,696 | €1,440 | -€255 | -15.0% |
| Plant, machinery and equipment | 23 | €2,960 | €1,903 | -€1,057 | -35.7% |
| Furniture and vehicles | 24 | €6,745 | €2,863 | -€3,882 | -57.5% |
| Other tangible fixed assets | 26 | €1,941 | €724 | -€1,218 | -62.7% |
| Current assets | 29/58 | €575,018 | €250,558 | -€324,460 | -56.4% |
| Stocks and contracts in progress | 3 | €499,180 | €71,553 | -€427,628 | -85.7% |
| Stocks | 30/36 | €499,180 | €71,553 | -€427,628 | -85.7% |
| Amounts receivable within one year | 40/41 | €46,661 | €100,518 | +€53,858 | +115% |
| Trade receivables | 40 | €37,963 | €98,481 | +€60,517 | +159% |
| Other amounts receivable | 41 | €8,697 | €2,038 | -€6,660 | -76.6% |
| Cash at bank and in hand | 54/58 | €9,131 | €74,206 | +€65,076 | +713% |
| Deferred charges and accrued income | 490/1 | €20,046 | €4,281 | -€15,766 | -78.6% |
| Total equity and liabilities | 10/49 | €588,360 | €257,489 | -€330,871 | -56.2% |
| Equity | 10/15 | -€82,843 | €88,702 | +€171,544 | |
| Contributions | 10/11 | €18,600 | €138,600 | +€120,000 | +645% |
| Reserves | 13 | €35,610 | €35,610 | = | 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% |
| Distributable reserves | 133 | €33,750 | €33,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€137,052 | -€85,508 | +€51,544 | +37.6% |
| Amounts payable | 17/49 | €671,203 | €168,787 | -€502,416 | -74.9% |
| Amounts payable after more than one year | 17 | €485,686 | €26,000 | -€459,686 | -94.6% |
| Financial debts | 170/4 | €485,686 | €26,000 | -€459,686 | -94.6% |
| Amounts payable within one year | 42/48 | €185,516 | €133,187 | -€52,329 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €6,495 | €4,310 | -€2,185 | -33.6% |
| Financial debts | 43 | €36,748 | €303 | -€36,445 | -99.2% |
| Credit institutions | 430/8 | €36,748 | €0 | -€36,748 | -100% |
| Other loans | 439 | - | €303 | +€303 | |
| Trade debts | 44 | €27,282 | €45,360 | +€18,078 | +66.3% |
| Suppliers | 440/4 | €27,282 | €45,360 | +€18,078 | +66.3% |
| Taxes, remuneration and social security | 45 | €5,475 | €0 | -€5,475 | -100% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €5,475 | €0 | -€5,475 | -100% |
| Other amounts payable | 47/48 | €109,516 | €83,215 | -€26,302 | -24.0% |
| Accrued charges and deferred income | 492/3 | - | €9,600 | +€9,600 | |
| Non-recurring operating income | 76A | €11,969 | €0 | -€11,969 | -100% |
| Remuneration, social security and pensions | 62 | €36,252 | €6,111 | -€30,141 | -83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,782 | €8,405 | -€1,377 | -14.1% |
| Other operating charges | 640/8 | €2,589 | €7,422 | +€4,834 | +187% |
| Gross operating margin | 9900 | €38,376 | €106,659 | +€68,284 | +178% |
| Operating profit (loss) | 9901 | -€10,247 | €84,722 | +€94,969 | |
| Financial income | 75/76B | €228 | €148 | -€80 | -35.2% |
| Recurring financial income | 75 | €228 | €148 | -€80 | -35.2% |
| Financial charges | 65/66B | €9,880 | €33,325 | +€23,445 | +237% |
| Recurring financial charges | 65 | €9,880 | €33,325 | +€23,445 | +237% |
| Profit (loss) for the period before taxes | 9903 | -€19,899 | €51,544 | +€71,443 | |
| Profit (loss) for the period | 9904 | -€19,899 | €51,544 | +€71,443 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,899 | €51,544 | +€71,443 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.