Chang Xing: 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.
Chang Xing
Largest movements
- Cash +€30,109
up €30,109 (+319%), from €9,442 to €39,550
mainly Net result for the year (+€44,062) and Depreciation (+€27,130)
- Tangible fixed assets -€16,130
down €16,130 (-16.2%), from €99,522 to €83,391
of which Furniture and vehicles: -€9,130
- Intangible fixed assets -€11,000
down €11,000 (-11.1%), from €99,000 to €88,000
- Stocks and contracts -€5,979
down €5,979 (-79.5%), from €7,518 to €1,539
- Receivables within one year -€3,404
down €3,404 (-23.9%), from €14,238 to €10,834
- Reserves +€44,062
up €44,062 (+350%), from €12,575 to €56,637
- Debts after one year -€34,294
down €34,294 (-37.0%), from €92,662 to €58,367
- Other debts -€30,891
down €30,891 (-33.6%), from €92,055 to €61,163
- Trade debts +€6,849
up €6,849 (+13,351%), from €51 to €6,900
- Tax, wage and social debts +€5,419
new in 2025: €5,419
- Gross operating margin +€37,294
up €37,294 (+48.5%), from €76,853 to €114,146
- Taxes +€12,629
up €12,629 (+264%), from €4,790 to €17,419
- Staff costs -€5,005
down €5,005 (-21.5%), from €23,306 to €18,301
- Other operating charges -€1,271
down €1,271 (-81.2%), from €1,566 to €295
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 | €233,094 | €226,690 | -€6,404 | -2.7% |
| Fixed assets | 21/28 | €201,897 | €174,766 | -€27,130 | -13.4% |
| Intangible fixed assets | 21 | €99,000 | €88,000 | -€11,000 | -11.1% |
| Tangible fixed assets | 22/27 | €99,522 | €83,391 | -€16,130 | -16.2% |
| Plant, machinery and equipment | 23 | €63,000 | €56,000 | -€7,000 | -11.1% |
| Furniture and vehicles | 24 | €36,522 | €27,391 | -€9,130 | -25.0% |
| Financial fixed assets | 28 | €3,375 | €3,375 | = | 0.0% |
| Current assets | 29/58 | €31,197 | €51,924 | +€20,726 | +66.4% |
| Stocks and contracts in progress | 3 | €7,518 | €1,539 | -€5,979 | -79.5% |
| Stocks | 30/36 | €7,518 | €1,539 | -€5,979 | -79.5% |
| Amounts receivable within one year | 40/41 | €14,238 | €10,834 | -€3,404 | -23.9% |
| Other amounts receivable | 41 | €14,238 | €10,834 | -€3,404 | -23.9% |
| Cash at bank and in hand | 54/58 | €9,442 | €39,550 | +€30,109 | +319% |
| Total equity and liabilities | 10/49 | €233,094 | €226,690 | -€6,404 | -2.7% |
| Equity | 10/15 | €17,575 | €61,637 | +€44,062 | +251% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €12,575 | €56,637 | +€44,062 | +350% |
| Distributable reserves | 133 | €12,575 | €56,637 | +€44,062 | +350% |
| Amounts payable | 17/49 | €215,519 | €165,053 | -€50,466 | -23.4% |
| Amounts payable after more than one year | 17 | €92,662 | €58,367 | -€34,294 | -37.0% |
| Financial debts | 170/4 | €92,662 | €58,367 | -€34,294 | -37.0% |
| Amounts payable within one year | 42/48 | €122,858 | €106,685 | -€16,172 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €30,752 | €33,203 | +€2,452 | +8.0% |
| Trade debts | 44 | €51 | €6,900 | +€6,849 | +13,351% |
| Suppliers | 440/4 | €51 | €6,900 | +€6,849 | +13,351% |
| Taxes, remuneration and social security | 45 | - | €5,419 | +€5,419 | |
| Taxes | 450/3 | - | €5,419 | +€5,419 | |
| Other amounts payable | 47/48 | €92,055 | €61,163 | -€30,891 | -33.6% |
| Remuneration, social security and pensions | 62 | €23,306 | €18,301 | -€5,005 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,130 | €27,130 | = | 0.0% |
| Other operating charges | 640/8 | €1,566 | €295 | -€1,271 | -81.2% |
| Gross operating margin | 9900 | €76,853 | €114,146 | +€37,294 | +48.5% |
| Operating profit (loss) | 9901 | €24,850 | €68,420 | +€43,570 | +175% |
| Financial charges | 65/66B | €7,485 | €6,939 | -€547 | -7.3% |
| Recurring financial charges | 65 | €7,485 | €6,939 | -€547 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €17,365 | €61,481 | +€44,116 | +254% |
| Income taxes | 67/77 | €4,790 | €17,419 | +€12,629 | +264% |
| Profit (loss) for the period | 9904 | €12,575 | €44,062 | +€31,487 | +250% |
| Profit (loss) for the period to be appropriated | 9905 | €12,575 | €44,062 | +€31,487 | +250% |
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 27 October 2026 via checked.be.