CHATHO LOUISE: 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
CHATHO LOUISE
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€23,721
2024 · €277,146-€253,425
Equity
€1.4m
2024 · €1.4m-€61,418
Cash
€15,686
2024 · €25,061-€9,375
Balance sheet total
€1.7m
2024 · €1.7m-€7,531
Largest movements
Assets
- Financial fixed assets +€401,000
new in 2025: €401,000
- Receivables within one year -€301,076
down €301,076 (-100%), from €301,076 to €0
- Current investments -€77,000
down €77,000 (-7.6%), from €1.0m to €938,000
Equity and liabilities
- Reserves -€61,418
down €61,418 (-7.4%), from €831,727 to €770,309
of which Distributable reserves: -€61,418
- Other debts +€52,162
up €52,162 (+47.9%), from €109,012 to €161,174
Income statement
- Gross operating margin -€314,390
down €314,390 (-86.9%), from €361,619 to €47,229
- Financial income -€22,776
down €22,776 (-45.7%), from €49,861 to €27,085
- Taxes -€3,623
down €3,623 (-18.5%), from €19,566 to €15,944
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
€277,146
Gross operating margin
-€314,390
Depreciation
+€345
Other operating charges
-€312
Financial income
-€22,776
Financial charges
-€1,111
Taxes
+€3,623
Deferred taxes and other
+€81,196
Result 2025
€23,721
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€404,165
Investment
-€328,401
Financing
-€85,139
Cash 2024
€25,061
From operations (derived)
+€404,165
Net result for the year
+€23,721
Depreciation
+€18,879
Receivables within one year
+€301,076
Deferred charges and accrued income
+€6,602
Trade debts
+€562
Tax, wage and social debts
+€2,523
Other debts
+€52,162
Accrued charges and deferred income
-€1,361
Investment (derived)
-€328,401
Investment in fixed assets (net)
-€405,401
Current investments
+€77,000
Financing
-€85,139
Contributions, distributions and other
-€85,139
Cash 2025
€15,686
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,699,523 | €1,691,992 | -€7,531 | -0.4% |
| Fixed assets | 21/28 | €345,480 | €732,001 | +€386,521 | +112% |
| Tangible fixed assets | 22/27 | €345,480 | €331,001 | -€14,479 | -4.2% |
| Land and buildings | 22 | €256,179 | €243,494 | -€12,685 | -5.0% |
| Plant, machinery and equipment | 23 | €937 | €685 | -€252 | -26.9% |
| Other tangible fixed assets | 26 | €88,364 | €86,822 | -€1,542 | -1.7% |
| Financial fixed assets | 28 | - | €401,000 | +€401,000 | |
| Current assets | 29/58 | €1,354,043 | €959,991 | -€394,052 | -29.1% |
| Amounts receivable within one year | 40/41 | €301,076 | €0 | -€301,076 | -100% |
| Other amounts receivable | 41 | €301,076 | €0 | -€301,076 | -100% |
| Current investments | 50/53 | €1,015,000 | €938,000 | -€77,000 | -7.6% |
| Cash at bank and in hand | 54/58 | €25,061 | €15,686 | -€9,375 | -37.4% |
| Deferred charges and accrued income | 490/1 | €12,906 | €6,304 | -€6,602 | -51.2% |
| Total equity and liabilities | 10/49 | €1,699,523 | €1,691,992 | -€7,531 | -0.4% |
| Equity | 10/15 | €1,425,789 | €1,364,371 | -€61,418 | -4.3% |
| Contributions | 10/11 | €752,000 | €752,000 | = | 0.0% |
| Capital | 10 | €752,000 | €752,000 | = | 0.0% |
| Issued capital | 100 | €752,000 | €752,000 | = | 0.0% |
| Reserves | 13 | €831,727 | €770,309 | -€61,418 | -7.4% |
| Non-distributable reserves | 130/1 | €20,629 | €20,629 | = | 0.0% |
| Legal reserve | 130 | €20,629 | €20,629 | = | 0.0% |
| Tax-exempt reserves | 132 | €531,595 | €531,595 | = | 0.0% |
| Distributable reserves | 133 | €279,502 | €218,084 | -€61,418 | -22.0% |
| Profit (loss) carried forward | 14 | -€157,938 | -€157,938 | = | 0.0% |
| Provisions and deferred taxes | 16 | €152,930 | €152,930 | = | 0.0% |
| Deferred taxes | 168 | €152,930 | €152,930 | = | 0.0% |
| Amounts payable | 17/49 | €120,804 | €174,691 | +€53,887 | +44.6% |
| Amounts payable within one year | 42/48 | €118,091 | €173,338 | +€55,247 | +46.8% |
| Trade debts | 44 | €3,932 | €4,493 | +€562 | +14.3% |
| Suppliers | 440/4 | €3,932 | €4,493 | +€562 | +14.3% |
| Taxes, remuneration and social security | 45 | €5,148 | €7,671 | +€2,523 | +49.0% |
| Taxes | 450/3 | €3,539 | €5,831 | +€2,292 | +64.8% |
| Remuneration and social security | 454/9 | €1,608 | €1,840 | +€232 | +14.4% |
| Other amounts payable | 47/48 | €109,012 | €161,174 | +€52,162 | +47.9% |
| Accrued charges and deferred income | 492/3 | €2,713 | €1,353 | -€1,361 | -50.1% |
| Non-recurring operating income | 76A | €324,783 | €0 | -€324,783 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,225 | €18,879 | -€345 | -1.8% |
| Other operating charges | 640/8 | €7,334 | €7,646 | +€312 | +4.3% |
| Gross operating margin | 9900 | €361,619 | €47,229 | -€314,390 | -86.9% |
| Operating profit (loss) | 9901 | €335,061 | €20,704 | -€314,357 | -93.8% |
| Financial income | 75/76B | €49,861 | €27,085 | -€22,776 | -45.7% |
| Recurring financial income | 75 | €49,861 | €27,085 | -€22,776 | -45.7% |
| Financial charges | 65/66B | €7,013 | €8,124 | +€1,111 | +15.8% |
| Recurring financial charges | 65 | €7,013 | €8,124 | +€1,111 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €377,908 | €39,665 | -€338,243 | -89.5% |
| Transfer to deferred taxes | 680 | €81,196 | €0 | -€81,196 | -100% |
| Income taxes | 67/77 | €19,566 | €15,944 | -€3,623 | -18.5% |
| Profit (loss) for the period | 9904 | €277,146 | €23,721 | -€253,425 | -91.4% |
| Transfer to tax-exempt reserves | 689 | €243,587 | €0 | -€243,587 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €33,559 | €23,721 | -€9,838 | -29.3% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.