CHAMPION FEED: 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.
CHAMPION FEED
Largest movements
- Stocks and contracts +€68,369
up €68,369 (+45.1%), from €151,486 to €219,855
- Tangible fixed assets -€19,276
down €19,276 (-9.9%), from €195,442 to €176,166
of which Leasing and similar rights: -€24,295
- Deferred charges and accrued income +€7,125
up €7,125 (+78.6%), from €9,071 to €16,196
- Trade debts +€56,921
up €56,921 (+80.2%), from €71,011 to €127,932
- Reserves +€45,213
up €45,213 (+21.3%), from €211,955 to €257,167
- Debts after one year -€27,043
down €27,043 (-36.7%), from €73,765 to €46,722
- Current portion of long-term debt -€11,186
down €11,186 (-29.3%), from €38,229 to €27,043
- Gross operating margin +€107,410
up €107,410 (+65.2%), from €164,683 to €272,093
- Staff costs +€55,538
up €55,538 (+96.1%), from €57,814 to €113,352
- Taxes +€15,077
up €15,077 (+91.4%), from €16,500 to €31,578
- Depreciation +€5,314
up €5,314 (+15.0%), from €35,404 to €40,718
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.
Derived cash bridge
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 | €437,720 | €495,568 | +€57,848 | +13.2% |
| Fixed assets | 21/28 | €202,621 | €182,861 | -€19,759 | -9.8% |
| Intangible fixed assets | 21 | €3,741 | €3,258 | -€483 | -12.9% |
| Tangible fixed assets | 22/27 | €195,442 | €176,166 | -€19,276 | -9.9% |
| Plant, machinery and equipment | 23 | €56,668 | €62,417 | +€5,750 | +10.1% |
| Furniture and vehicles | 24 | €613 | €242 | -€371 | -60.6% |
| Leasing and similar rights | 25 | €135,055 | €110,759 | -€24,295 | -18.0% |
| Other tangible fixed assets | 26 | €3,107 | €2,747 | -€359 | -11.6% |
| Financial fixed assets | 28 | €3,438 | €3,438 | = | 0.0% |
| Current assets | 29/58 | €235,099 | €312,707 | +€77,608 | +33.0% |
| Stocks and contracts in progress | 3 | €151,486 | €219,855 | +€68,369 | +45.1% |
| Stocks | 30/36 | €151,486 | €219,855 | +€68,369 | +45.1% |
| Amounts receivable within one year | 40/41 | €22,546 | €26,527 | +€3,981 | +17.7% |
| Trade receivables | 40 | €9,316 | €19,432 | +€10,116 | +109% |
| Other amounts receivable | 41 | €13,231 | €7,095 | -€6,135 | -46.4% |
| Cash at bank and in hand | 54/58 | €51,996 | €50,129 | -€1,867 | -3.6% |
| Deferred charges and accrued income | 490/1 | €9,071 | €16,196 | +€7,125 | +78.6% |
| Total equity and liabilities | 10/49 | €437,720 | €495,568 | +€57,848 | +13.2% |
| Equity | 10/15 | €220,015 | €265,227 | +€45,213 | +20.5% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €211,955 | €257,167 | +€45,213 | +21.3% |
| Distributable reserves | 133 | €211,955 | €257,167 | +€45,213 | +21.3% |
| Amounts payable | 17/49 | €217,705 | €230,340 | +€12,635 | +5.8% |
| Amounts payable after more than one year | 17 | €73,765 | €46,722 | -€27,043 | -36.7% |
| Financial debts | 170/4 | €73,765 | €46,722 | -€27,043 | -36.7% |
| Amounts payable within one year | 42/48 | €143,940 | €183,618 | +€39,678 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €38,229 | €27,043 | -€11,186 | -29.3% |
| Trade debts | 44 | €71,011 | €127,932 | +€56,921 | +80.2% |
| Suppliers | 440/4 | €71,011 | €127,932 | +€56,921 | +80.2% |
| Taxes, remuneration and social security | 45 | €32,825 | €28,643 | -€4,182 | -12.7% |
| Taxes | 450/3 | €19,364 | €11,931 | -€7,433 | -38.4% |
| Remuneration and social security | 454/9 | €13,461 | €16,712 | +€3,251 | +24.2% |
| Other amounts payable | 47/48 | €1,876 | - | -€1,876 | |
| Remuneration, social security and pensions | 62 | €57,814 | €113,352 | +€55,538 | +96.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,404 | €40,718 | +€5,314 | +15.0% |
| Other operating charges | 640/8 | €2,077 | €1,723 | -€354 | -17.1% |
| Non-recurring operating charges | 66A | - | €740 | +€740 | |
| Gross operating margin | 9900 | €164,683 | €272,093 | +€107,410 | +65.2% |
| Operating profit (loss) | 9901 | €69,388 | €115,561 | +€46,173 | +66.5% |
| Financial income | 75/76B | €27 | €5 | -€22 | -80.7% |
| Recurring financial income | 75 | €27 | €5 | -€22 | -80.7% |
| Financial charges | 65/66B | €6,456 | €6,495 | +€39 | +0.6% |
| Recurring financial charges | 65 | €1,806 | €3,089 | +€1,283 | +71.1% |
| Non-recurring financial charges | 66B | €4,650 | €3,406 | -€1,244 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €62,959 | €109,071 | +€46,112 | +73.2% |
| Income taxes | 67/77 | €16,500 | €31,578 | +€15,077 | +91.4% |
| Profit (loss) for the period | 9904 | €46,459 | €77,493 | +€31,035 | +66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,459 | €77,493 | +€31,035 | +66.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.