ChaTho Projects: 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.
ChaTho Projects
Largest movements
- Current investments +€106,442
up €106,442 (+38.8%), from €274,146 to €380,588
- Cash -€83,876
down €83,876 (-25.1%), from €333,611 to €249,734
mainly Contributions, distributions and other (-€651,340) and Current investments (-€106,442)
- Tangible fixed assets -€29,659
down €29,659 (-18.0%), from €164,513 to €134,854
of which Furniture and vehicles: -€21,156
- Deferred charges and accrued income -€19,417
no longer reported in 2025 (was €19,417)
- Other debts +€498,540
up €498,540 (+396.6%), from €125,711 to €624,251
- Profit (loss) carried forward -€483,484
down €483,484 (-74.8%), from €646,340 to €162,856
- Trade debts -€20,397
down €20,397 (-99.2%), from €20,558 to €161
- Current portion of long-term debt -€17,336
no longer reported in 2025 (was €17,336)
- Gross operating margin +€15,568
up €15,568 (+6.1%), from €254,449 to €270,017
- Taxes +€10,531
up €10,531 (+17.6%), from €59,941 to €70,472
- Financial income -€5,373
down €5,373 (-62.4%), from €8,611 to €3,238
- Financial charges -€4,603
down €4,603 (-89.2%), from €5,161 to €558
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 | €820,224 | €796,778 | -€23,446 | -2.9% |
| Fixed assets | 21/28 | €164,513 | €134,854 | -€29,659 | -18.0% |
| Tangible fixed assets | 22/27 | €164,513 | €134,854 | -€29,659 | -18.0% |
| Plant, machinery and equipment | 23 | €23,341 | €18,983 | -€4,358 | -18.7% |
| Furniture and vehicles | 24 | €116,769 | €95,613 | -€21,156 | -18.1% |
| Other tangible fixed assets | 26 | €24,403 | €20,258 | -€4,145 | -17.0% |
| Current assets | 29/58 | €655,711 | €661,924 | +€6,213 | +0.9% |
| Amounts receivable within one year | 40/41 | €28,537 | €31,601 | +€3,065 | +10.7% |
| Trade receivables | 40 | €28,038 | €25,774 | -€2,264 | -8.1% |
| Other amounts receivable | 41 | €498 | €5,827 | +€5,329 | +1069.5% |
| Current investments | 50/53 | €274,146 | €380,588 | +€106,442 | +38.8% |
| Cash at bank and in hand | 54/58 | €333,611 | €249,734 | -€83,876 | -25.1% |
| Deferred charges and accrued income | 490/1 | €19,417 | - | -€19,417 | |
| Total equity and liabilities | 10/49 | €820,224 | €796,778 | -€23,446 | -2.9% |
| Equity | 10/15 | €651,340 | €167,856 | -€483,484 | -74.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €646,340 | €162,856 | -€483,484 | -74.8% |
| Amounts payable | 17/49 | €168,884 | €628,922 | +€460,039 | +272.4% |
| Amounts payable within one year | 42/48 | €168,884 | €628,922 | +€460,039 | +272.4% |
| Current portion of amounts payable after more than one year | 42 | €17,336 | - | -€17,336 | |
| Trade debts | 44 | €20,558 | €161 | -€20,397 | -99.2% |
| Suppliers | 440/4 | €20,558 | €161 | -€20,397 | -99.2% |
| Taxes, remuneration and social security | 45 | €5,279 | €4,510 | -€768 | -14.6% |
| Taxes | 450/3 | €5,279 | €4,510 | -€768 | -14.6% |
| Other amounts payable | 47/48 | €125,711 | €624,251 | +€498,540 | +396.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,541 | €34,225 | +€1,684 | +5.2% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | €254,449 | €270,017 | +€15,568 | +6.1% |
| Operating profit (loss) | 9901 | €221,767 | €235,648 | +€13,881 | +6.3% |
| Financial income | 75/76B | €8,611 | €3,238 | -€5,373 | -62.4% |
| Recurring financial income | 75 | €8,611 | €3,238 | -€5,373 | -62.4% |
| Financial charges | 65/66B | €5,161 | €558 | -€4,603 | -89.2% |
| Recurring financial charges | 65 | €5,161 | €558 | -€4,603 | -89.2% |
| Profit (loss) for the period before taxes | 9903 | €225,217 | €238,328 | +€13,111 | +5.8% |
| Income taxes | 67/77 | €59,941 | €70,472 | +€10,531 | +17.6% |
| Profit (loss) for the period | 9904 | €165,276 | €167,856 | +€2,580 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €165,276 | €167,856 | +€2,580 | +1.6% |
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 30 September 2026 via checked.be.