CHAMAX: 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.
What changed
CHAMAX
NACE 47.551, Retail sale of household furniture
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€23,205
2024 · -€84,961+€108,166
Equity
€282,190
2024 · €258,985+€23,205
Cash
€161,647
2024 · €142,083+€19,564
Balance sheet total
€1.6m
2024 · €1.6m-€14,311
Largest movements
Assets
- Tangible fixed assets -€108,198
down €108,198 (-28.9%), from €374,980 to €266,783
of which Other tangible fixed assets: -€81,444
- Receivables after one year +€76,895
up €76,895 (+60.0%), from €128,146 to €205,041
- Stocks and contracts -€64,869
down €64,869 (-11.3%), from €574,190 to €509,321
- Intangible fixed assets +€44,646
new in 2025: €44,646
- Formation expenses +€31,421
up €31,421 (+13.6%), from €230,991 to €262,411
Equity and liabilities
- Debts after one year -€166,477
down €166,477 (-30.7%), from €542,855 to €376,378
- Advances received +€127,204
up €127,204 (+30.5%), from €416,921 to €544,125
- Other debts +€60,719
up €60,719, from €0 to €60,719
- Trade debts -€36,437
down €36,437 (-31.7%), from €115,118 to €78,681
- Profit (loss) carried forward +€23,205
up €23,205 (+16.2%), from €143,485 to €166,690
Income statement
- Staff costs -€120,878
down €120,878 (-14.8%), from €817,451 to €696,572
- Depreciation +€25,593
up €25,593 (+20.6%), from €124,134 to €149,727
- Financial income -€9,940
down €9,940 (-23.6%), from €42,207 to €32,267
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.
Result 2024
-€84,961
Gross operating margin
+€3,579
Staff costs
+€120,878
Depreciation
-€25,593
Write-downs
-€5,431
Provisions
+€3,087
Other operating charges
+€4,475
Other operating items
+€15,316
Financial income
-€9,940
Financial charges
+€1,632
Taxes
+€162
Result 2025
€23,205
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.
From operations
+€318,076
Investment
-€117,635
Financing
-€180,877
Cash 2024
€142,083
From operations (derived)
+€318,076
Net result for the year
+€23,205
Depreciation
+€149,727
Receivables after one year
-€76,895
Stocks and contracts
+€64,869
Receivables within one year
+€16,384
Deferred charges and accrued income
-€2,575
Provisions
-€2,978
Trade debts
-€36,437
Tax, wage and social debts
-€7,076
Advances received
+€127,204
Other debts
+€60,719
Accrued charges and deferred income
+€1,929
Investment (derived)
-€117,635
Investment in fixed assets (net)
-€117,635
Financing
-€180,877
Debts after one year
-€166,477
Current portion of long-term debt
-€20,738
Short-term financial debts
+€6,338
Cash 2025
€161,647
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,644,166 | €1,629,855 | -€14,311 | -0.9% |
| Formation expenses | 20 | €230,991 | €262,411 | +€31,421 | +13.6% |
| Fixed assets | 21/28 | €404,863 | €341,350 | -€63,513 | -15.7% |
| Intangible fixed assets | 21 | - | €44,646 | +€44,646 | |
| Tangible fixed assets | 22/27 | €374,980 | €266,783 | -€108,198 | -28.9% |
| Plant, machinery and equipment | 23 | €12,550 | €5,463 | -€7,087 | -56.5% |
| Furniture and vehicles | 24 | €41,830 | €22,163 | -€19,667 | -47.0% |
| Other tangible fixed assets | 26 | €320,601 | €239,157 | -€81,444 | -25.4% |
| Financial fixed assets | 28 | €29,882 | €29,922 | +€39 | +0.1% |
| Current assets | 29/58 | €1,008,312 | €1,026,093 | +€17,781 | +1.8% |
| Amounts receivable after more than one year | 29 | €128,146 | €205,041 | +€76,895 | +60.0% |
| Other amounts receivable | 291 | €128,146 | €205,041 | +€76,895 | +60.0% |
| Stocks and contracts in progress | 3 | €574,190 | €509,321 | -€64,869 | -11.3% |
| Stocks | 30/36 | €574,190 | €509,321 | -€64,869 | -11.3% |
| Amounts receivable within one year | 40/41 | €153,719 | €137,335 | -€16,384 | -10.7% |
| Trade receivables | 40 | €133,610 | €137,050 | +€3,440 | +2.6% |
| Other amounts receivable | 41 | €20,109 | €285 | -€19,824 | -98.6% |
| Cash at bank and in hand | 54/58 | €142,083 | €161,647 | +€19,564 | +13.8% |
| Deferred charges and accrued income | 490/1 | €10,174 | €12,749 | +€2,575 | +25.3% |
| Total equity and liabilities | 10/49 | €1,644,166 | €1,629,855 | -€14,311 | -0.9% |
| Equity | 10/15 | €258,985 | €282,190 | +€23,205 | +9.0% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Capital | 10 | €95,000 | €95,000 | = | 0.0% |
| Issued capital | 100 | €95,000 | €95,000 | = | 0.0% |
| Reserves | 13 | €20,500 | €20,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,500 | €9,500 | = | 0.0% |
| Legal reserve | 130 | €9,500 | €9,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,485 | €166,690 | +€23,205 | +16.2% |
| Provisions and deferred taxes | 16 | €15,680 | €12,702 | -€2,978 | -19.0% |
| Provisions for liabilities and charges | 160/5 | €15,680 | €12,702 | -€2,978 | -19.0% |
| Other liabilities and charges | 164/5 | €15,680 | €12,702 | -€2,978 | -19.0% |
| Amounts payable | 17/49 | €1,369,501 | €1,334,963 | -€34,538 | -2.5% |
| Amounts payable after more than one year | 17 | €542,855 | €376,378 | -€166,477 | -30.7% |
| Financial debts | 170/4 | €542,855 | €376,378 | -€166,477 | -30.7% |
| Amounts payable within one year | 42/48 | €798,512 | €928,522 | +€130,010 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €187,215 | €166,477 | -€20,738 | -11.1% |
| Financial debts | 43 | - | €6,338 | +€6,338 | |
| Credit institutions | 430/8 | - | €6,338 | +€6,338 | |
| Trade debts | 44 | €115,118 | €78,681 | -€36,437 | -31.7% |
| Suppliers | 440/4 | €115,118 | €78,681 | -€36,437 | -31.7% |
| Advances received on contracts in progress | 46 | €416,921 | €544,125 | +€127,204 | +30.5% |
| Taxes, remuneration and social security | 45 | €79,258 | €72,182 | -€7,076 | -8.9% |
| Taxes | 450/3 | €5,198 | €16,240 | +€11,042 | +212.4% |
| Remuneration and social security | 454/9 | €74,060 | €55,942 | -€18,118 | -24.5% |
| Other amounts payable | 47/48 | €0 | €60,719 | +€60,719 | |
| Accrued charges and deferred income | 492/3 | €28,134 | €30,063 | +€1,929 | +6.9% |
| Non-recurring operating income | 76A | €24,732 | €26,604 | +€1,872 | +7.6% |
| Remuneration, social security and pensions | 62 | €817,451 | €696,572 | -€120,878 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,134 | €149,727 | +€25,593 | +20.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,431 | €0 | +€5,431 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €109 | -€2,978 | -€3,087 | |
| Other operating charges | 640/8 | €7,946 | €3,471 | -€4,475 | -56.3% |
| Operating charges capitalised as restructuring costs | 649 | -€59,505 | -€77,619 | -€18,114 | -30.4% |
| Non-recurring operating charges | 66A | €0 | €2,798 | +€2,798 | |
| Gross operating margin | 9900 | €785,724 | €789,303 | +€3,579 | +0.5% |
| Operating profit (loss) | 9901 | -€98,980 | €17,331 | +€116,312 | |
| Financial income | 75/76B | €42,207 | €32,267 | -€9,940 | -23.6% |
| Recurring financial income | 75 | €42,207 | €32,267 | -€9,940 | -23.6% |
| Financial charges | 65/66B | €27,044 | €25,412 | -€1,632 | -6.0% |
| Recurring financial charges | 65 | €27,044 | €25,412 | -€1,632 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€83,818 | €24,187 | +€108,004 | |
| Income taxes | 67/77 | €1,144 | €981 | -€162 | -14.2% |
| Profit (loss) for the period | 9904 | -€84,961 | €23,205 | +€108,166 | |
| Profit (loss) for the period to be appropriated | 9905 | -€84,961 | €23,205 | +€108,166 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.