CHAPI G.W.: 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.
CHAPI G.W.
Largest movements
- Receivables within one year -€102,425
down €102,425 (-46.3%), from €221,425 to €119,000
of which Trade receivables: -€52,370
- Tangible fixed assets -€41,578
down €41,578 (-8.3%), from €501,554 to €459,976
of which Land and buildings: -€26,751
- Debts after one year -€277,962
down €277,962 (-92.7%), from €300,000 to €22,038
- Other debts +€193,843
new in 2025: €193,843
- Trade debts -€75,643
down €75,643 (-28.3%), from €266,909 to €191,266
- Tax, wage and social debts +€16,002
up €16,002 (+66.3%), from €24,145 to €40,147
of which Taxes: +€16,583
- Current portion of long-term debt +€7,557
new in 2025: €7,557
- Gross operating margin -€22,761
down €22,761 (-16.2%), from €140,687 to €117,926
- Taxes +€7,716
up €7,716 (+127.7%), from €6,041 to €13,757
- Other operating charges +€4,687
up €4,687 (+19.8%), from €23,631 to €28,317
- Depreciation +€3,932
up €3,932 (+5.5%), from €71,146 to €75,078
- Staff costs -€3,685
down €3,685 (-43.6%), from €8,452 to €4,767
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 | €735,524 | €591,871 | -€143,653 | -19.5% |
| Fixed assets | 21/28 | €502,354 | €460,776 | -€41,578 | -8.3% |
| Tangible fixed assets | 22/27 | €501,554 | €459,976 | -€41,578 | -8.3% |
| Land and buildings | 22 | €373,938 | €347,187 | -€26,751 | -7.2% |
| Plant, machinery and equipment | 23 | €67,033 | €47,454 | -€19,580 | -29.2% |
| Furniture and vehicles | 24 | €60,583 | €36,975 | -€23,608 | -39.0% |
| Leasing and similar rights | 25 | - | €28,360 | +€28,360 | |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €233,170 | €131,096 | -€102,075 | -43.8% |
| Amounts receivable within one year | 40/41 | €221,425 | €119,000 | -€102,425 | -46.3% |
| Trade receivables | 40 | €171,370 | €119,000 | -€52,370 | -30.6% |
| Other amounts receivable | 41 | €50,055 | - | -€50,055 | |
| Cash at bank and in hand | 54/58 | €8,934 | €9,222 | +€288 | +3.2% |
| Deferred charges and accrued income | 490/1 | €2,812 | €2,874 | +€62 | +2.2% |
| Total equity and liabilities | 10/49 | €735,524 | €591,871 | -€143,653 | -19.5% |
| Equity | 10/15 | €144,471 | €137,020 | -€7,450 | -5.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €125,879 | €118,428 | -€7,450 | -5.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €124,019 | €116,569 | -€7,450 | -6.0% |
| Amounts payable | 17/49 | €591,054 | €454,851 | -€136,203 | -23.0% |
| Amounts payable after more than one year | 17 | €300,000 | €22,038 | -€277,962 | -92.7% |
| Financial debts | 170/4 | €300,000 | €22,038 | -€277,962 | -92.7% |
| Amounts payable within one year | 42/48 | €291,054 | €432,813 | +€141,759 | +48.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,557 | +€7,557 | |
| Trade debts | 44 | €266,909 | €191,266 | -€75,643 | -28.3% |
| Suppliers | 440/4 | €266,909 | €191,266 | -€75,643 | -28.3% |
| Taxes, remuneration and social security | 45 | €24,145 | €40,147 | +€16,002 | +66.3% |
| Taxes | 450/3 | €23,564 | €40,147 | +€16,583 | +70.4% |
| Remuneration and social security | 454/9 | €581 | - | -€581 | |
| Other amounts payable | 47/48 | - | €193,843 | +€193,843 | |
| Remuneration, social security and pensions | 62 | €8,452 | €4,767 | -€3,685 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,146 | €75,078 | +€3,932 | +5.5% |
| Other operating charges | 640/8 | €23,631 | €28,317 | +€4,687 | +19.8% |
| Non-recurring operating charges | 66A | €9,316 | €1,920 | -€7,396 | -79.4% |
| Gross operating margin | 9900 | €140,687 | €117,926 | -€22,761 | -16.2% |
| Operating profit (loss) | 9901 | €28,143 | €7,844 | -€20,300 | -72.1% |
| Financial income | 75/76B | €59 | - | -€59 | |
| Recurring financial income | 75 | €59 | - | -€59 | |
| Financial charges | 65/66B | €1,170 | €1,537 | +€367 | +31.4% |
| Recurring financial charges | 65 | €1,170 | €1,537 | +€367 | +31.4% |
| Profit (loss) for the period before taxes | 9903 | €27,033 | €6,306 | -€20,726 | -76.7% |
| Income taxes | 67/77 | €6,041 | €13,757 | +€7,716 | +127.7% |
| Profit (loss) for the period | 9904 | €20,992 | -€7,450 | -€28,442 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,992 | -€7,450 | -€28,442 |
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 4 October 2026 via checked.be.