CHALLENGEWORKS: what changed
Two fiscal 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.
CHALLENGEWORKS
Largest movements
- Cash +€47,314
up €47,314 (+48.2%), from €98,087 to €145,402
mainly Net result for the year (+€138,608) and Receivables within one year (+€37,053)
- Receivables within one year -€37,053
down €37,053 (-49.7%), from €74,507 to €37,455
of which Trade receivables: -€28,726
- Tangible fixed assets -€7,544
down €7,544 (-71.7%), from €10,522 to €2,979
- Reserves +€46,823
up €46,823 (+31.0%), from €151,163 to €197,986
of which Distributable reserves: +€46,823
- Other debts -€23,907
no longer reported in 2025 (was €23,907)
- Trade debts -€16,084
down €16,084 (-38.1%), from €42,166 to €26,083
- Gross operating margin +€92,990
up €92,990 (+79.1%), from €117,584 to €210,573
- Taxes +€33,111
up €33,111 (+130.9%), from €25,293 to €58,404
- Financial charges +€3,978
up €3,978 (+902.9%), from €441 to €4,419
- Financial income -€3,136
down €3,136 (-70.0%), from €4,480 to €1,344
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.
Cash bridge derived
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 | €263,197 | €265,915 | +€2,718 | +1.0% |
| Fixed assets | 21/28 | €10,602 | €3,059 | -€7,544 | -71.2% |
| Tangible fixed assets | 22/27 | €10,522 | €2,979 | -€7,544 | -71.7% |
| Furniture and vehicles | 24 | €10,522 | €2,979 | -€7,544 | -71.7% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €252,595 | €262,857 | +€10,262 | +4.1% |
| Amounts receivable within one year | 40/41 | €74,507 | €37,455 | -€37,053 | -49.7% |
| Trade receivables | 40 | €55,741 | €27,015 | -€28,726 | -51.5% |
| Other amounts receivable | 41 | €18,766 | €10,439 | -€8,326 | -44.4% |
| Current investments | 50/53 | €80,000 | €80,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €98,087 | €145,402 | +€47,314 | +48.2% |
| Total equity and liabilities | 10/49 | €263,197 | €265,915 | +€2,718 | +1.0% |
| Equity | 10/15 | €163,663 | €210,486 | +€46,823 | +28.6% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €151,163 | €197,986 | +€46,823 | +31.0% |
| 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 | €149,303 | €196,126 | +€46,823 | +31.4% |
| Amounts payable | 17/49 | €99,534 | €55,429 | -€44,105 | -44.3% |
| Amounts payable within one year | 42/48 | €97,741 | €55,429 | -€42,312 | -43.3% |
| Trade debts | 44 | €42,166 | €26,083 | -€16,084 | -38.1% |
| Suppliers | 440/4 | €42,166 | €26,083 | -€16,084 | -38.1% |
| Taxes, remuneration and social security | 45 | €31,667 | €29,346 | -€2,321 | -7.3% |
| Taxes | 450/3 | €31,667 | €29,346 | -€2,321 | -7.3% |
| Other amounts payable | 47/48 | €23,907 | - | -€23,907 | |
| Accrued charges and deferred income | 492/3 | €1,793 | - | -€1,793 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,455 | €8,779 | -€675 | -7.1% |
| Other operating charges | 640/8 | €1,831 | €1,708 | -€123 | -6.7% |
| Gross operating margin | 9900 | €117,584 | €210,573 | +€92,990 | +79.1% |
| Operating profit (loss) | 9901 | €106,297 | €200,086 | +€93,789 | +88.2% |
| Financial income | 75/76B | €4,480 | €1,344 | -€3,136 | -70.0% |
| Recurring financial income | 75 | €4,480 | €1,344 | -€3,136 | -70.0% |
| Financial charges | 65/66B | €441 | €4,419 | +€3,978 | +902.9% |
| Recurring financial charges | 65 | €441 | €4,419 | +€3,978 | +902.9% |
| Profit (loss) for the period before taxes | 9903 | €110,337 | €197,012 | +€86,675 | +78.6% |
| Income taxes | 67/77 | €25,293 | €58,404 | +€33,111 | +130.9% |
| Profit (loss) for the period | 9904 | €85,044 | €138,608 | +€53,564 | +63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €85,044 | €138,608 | +€53,564 | +63.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.