CHAMAGA: 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.
CHAMAGA
Largest movements
- Cash -€36,669
down €36,669 (-63.8%), from €57,476 to €20,807
mainly Net result for the year (-€37,433) and Tax, wage and social debts (-€5,083)
- Receivables within one year -€9,540
down €9,540 (-90.6%), from €10,533 to €993
of which Trade receivables: -€10,527
- Deferred charges and accrued income +€2,707
new in 2025: €2,707
- Tangible fixed assets -€1,568
down €1,568 (-18.0%), from €8,694 to €7,126
of which Plant, machinery and equipment: -€1,296
- Profit (loss) carried forward -€37,433
down €37,433 (-55.9%), from €66,950 to €29,517
- Tax, wage and social debts -€5,083
no longer reported in 2025 (was €5,083)
- Trade debts -€2,489
down €2,489 (-93.9%), from €2,652 to €163
- Other operating charges +€1,677
up €1,677 (+92.7%), from €1,810 to €3,487
- Gross operating margin +€1,618
up €1,618 (+5.2%), from -€31,325 to -€29,707
- Taxes -€874
down €874 (-86.7%), from €1,009 to €134
- Financial charges -€695
down €695 (-49.3%), from €1,410 to €715
- Depreciation +€414
up €414 (+13.9%), from €2,976 to €3,390
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 | €77,602 | €32,332 | -€45,270 | -58.3% |
| Fixed assets | 21/28 | €9,593 | €7,825 | -€1,768 | -18.4% |
| Intangible fixed assets | 21 | €899 | €699 | -€200 | -22.2% |
| Tangible fixed assets | 22/27 | €8,694 | €7,126 | -€1,568 | -18.0% |
| Plant, machinery and equipment | 23 | €7,742 | €6,446 | -€1,296 | -16.7% |
| Furniture and vehicles | 24 | €953 | €680 | -€273 | -28.6% |
| Current assets | 29/58 | €68,009 | €24,507 | -€43,502 | -64.0% |
| Amounts receivable within one year | 40/41 | €10,533 | €993 | -€9,540 | -90.6% |
| Trade receivables | 40 | €10,533 | €6 | -€10,527 | -99.9% |
| Other amounts receivable | 41 | - | €987 | +€987 | |
| Cash at bank and in hand | 54/58 | €57,476 | €20,807 | -€36,669 | -63.8% |
| Deferred charges and accrued income | 490/1 | - | €2,707 | +€2,707 | |
| Total equity and liabilities | 10/49 | €77,602 | €32,332 | -€45,270 | -58.3% |
| Equity | 10/15 | €68,950 | €31,517 | -€37,433 | -54.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,950 | €29,517 | -€37,433 | -55.9% |
| Amounts payable | 17/49 | €8,652 | €815 | -€7,838 | -90.6% |
| Amounts payable within one year | 42/48 | €8,428 | €245 | -€8,183 | -97.1% |
| Financial debts | 43 | €693 | €83 | -€610 | -88.1% |
| Credit institutions | 430/8 | €693 | €83 | -€610 | -88.1% |
| Trade debts | 44 | €2,652 | €163 | -€2,489 | -93.9% |
| Suppliers | 440/4 | €2,652 | €163 | -€2,489 | -93.9% |
| Taxes, remuneration and social security | 45 | €5,083 | - | -€5,083 | |
| Taxes | 450/3 | €5,083 | - | -€5,083 | |
| Accrued charges and deferred income | 492/3 | €224 | €570 | +€345 | +154.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,976 | €3,390 | +€414 | +13.9% |
| Other operating charges | 640/8 | €1,810 | €3,487 | +€1,677 | +92.7% |
| Gross operating margin | 9900 | -€31,325 | -€29,707 | +€1,618 | +5.2% |
| Operating profit (loss) | 9901 | -€36,111 | -€36,584 | -€473 | -1.3% |
| Financial charges | 65/66B | €1,410 | €715 | -€695 | -49.3% |
| Recurring financial charges | 65 | €1,410 | €715 | -€695 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,521 | -€37,298 | +€223 | +0.6% |
| Income taxes | 67/77 | €1,009 | €134 | -€874 | -86.7% |
| Profit (loss) for the period | 9904 | -€38,530 | -€37,433 | +€1,097 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,530 | -€37,433 | +€1,097 | +2.8% |
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 6 October 2026 via checked.be.