CHAUD DIFFUSION: 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.
What changed
CHAUD DIFFUSION
NACE 47.241, Retail sale of bread and pastry (bakery outlets)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€397,109
2024 · €1.1m-€677,061
Equity
€7.7m
2024 · €7.3m+€397,109
Cash
€3.3m
2024 · €3.3m+€12,750
Balance sheet total
€15.1m
2024 · €15.4m-€311,137
Largest movements
Assets
- Tangible fixed assets -€940,050
down €940,050 (-19.3%), from €4.9m to €3.9m
of which Plant, machinery and equipment: -€712,183
- Receivables within one year +€467,784
up €467,784 (+11.0%), from €4.2m to €4.7m
of which Other amounts receivable: +€577,446
- Intangible fixed assets +€206,567
up €206,567 (+10.8%), from €1.9m to €2.1m
- Receivables after one year -€183,794
down €183,794 (-70.9%), from €259,308 to €75,514
of which Trade receivables: -€183,794
Equity and liabilities
- Other debts -€500,000
down €500,000 (-100.0%), from €500,000 to €0
- Reserves +€397,000
up €397,000 (+6.1%), from €6.5m to €6.9m
of which Distributable reserves: +€586,450
- Debts after one year -€292,160
down €292,160 (-12.9%), from €2.3m to €2.0m
Income statement
- Turnover +€1.2m
up €1.2m (+3.2%), from €38.3m to €39.6m
- Services and other goods +€812,229
up €812,229 (+9.0%), from €9.1m to €9.9m
- Staff costs +€588,842
up €588,842 (+5.8%), from €10.2m to €10.8m
- Goods and materials +€444,354
up €444,354 (+2.8%), from €15.8m to €16.2m
of which Purchases: +€468,330
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
€1.1m
Turnover
+€1.2m
Other operating income
+€337,163
Goods and materials
-€444,354
Services and other goods
-€812,229
Staff costs
-€588,842
Depreciation
-€171,887
Write-downs
+€5,438
Other operating charges
-€36,115
Other operating items
-€309,737
Financial income
-€2,565
Financial charges
-€8,871
Taxes
+€125,524
Result 2025
€397,109
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.
From operations
+€1.7m
Investment
-€1.3m
Financing
-€362,922
Cash 2024
€3.3m
From operations (derived)
+€1.7m
Net result for the year
+€397,109
Depreciation
+€2.0m
Receivables after one year
+€183,794
Stocks and contracts
-€71,095
Receivables within one year
-€467,784
Deferred charges and accrued income
-€69,453
Trade debts
+€135,632
Tax, wage and social debts
-€13,148
Other debts
-€500,000
Accrued charges and deferred income
+€32,192
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
-€362,922
Debts after one year
-€292,160
Current portion of long-term debt
-€52,837
Short-term financial debts
-€17,924
Cash 2025
€3.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,441,048 | €15,129,911 | -€311,137 | -2.0% |
| Formation expenses | 20 | €45,128 | €30,286 | -€14,842 | -32.9% |
| Fixed assets | 21/28 | €6,789,737 | €6,056,154 | -€733,583 | -10.8% |
| Intangible fixed assets | 21 | €1,911,739 | €2,118,305 | +€206,567 | +10.8% |
| Tangible fixed assets | 22/27 | €4,875,935 | €3,935,885 | -€940,050 | -19.3% |
| Land and buildings | 22 | €40,836 | €51,164 | +€10,327 | +25.3% |
| Plant, machinery and equipment | 23 | €3,793,568 | €3,081,385 | -€712,183 | -18.8% |
| Furniture and vehicles | 24 | €995,742 | €767,538 | -€228,204 | -22.9% |
| Other tangible fixed assets | 26 | €45,788 | €35,798 | -€9,990 | -21.8% |
| Financial fixed assets | 28 | €2,064 | €1,964 | -€100 | -4.8% |
| Affiliated companies | 280/1 | - | €0 | = | |
| Amounts receivable | 281 | - | €0 | = | |
| Companies linked by participating interests | 282/3 | €100 | €0 | -€100 | -100.0% |
| Participating interests | 282 | €100 | €0 | -€100 | -100.0% |
| Other financial fixed assets | 284/8 | €1,964 | €1,964 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,964 | €1,964 | = | 0.0% |
| Current assets | 29/58 | €8,606,183 | €9,043,471 | +€437,288 | +5.1% |
| Amounts receivable after more than one year | 29 | €259,308 | €75,514 | -€183,794 | -70.9% |
| Trade receivables | 290 | €259,308 | €75,514 | -€183,794 | -70.9% |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €653,553 | €724,647 | +€71,095 | +10.9% |
| Stocks | 30/36 | €653,553 | €724,647 | +€71,095 | +10.9% |
| Raw materials and consumables | 30/31 | €189,660 | €229,177 | +€39,517 | +20.8% |
| Goods purchased for resale | 34 | €463,893 | €495,471 | +€31,578 | +6.8% |
| Amounts receivable within one year | 40/41 | €4,246,313 | €4,714,097 | +€467,784 | +11.0% |
| Trade receivables | 40 | €252,578 | €142,916 | -€109,662 | -43.4% |
| Other amounts receivable | 41 | €3,993,735 | €4,571,181 | +€577,446 | +14.5% |
| Cash at bank and in hand | 54/58 | €3,311,439 | €3,324,188 | +€12,750 | +0.4% |
| Deferred charges and accrued income | 490/1 | €135,570 | €205,023 | +€69,453 | +51.2% |
| Total equity and liabilities | 10/49 | €15,441,048 | €15,129,911 | -€311,137 | -2.0% |
| Equity | 10/15 | €7,265,243 | €7,662,352 | +€397,109 | +5.5% |
| Contributions | 10/11 | €719,759 | €719,759 | = | 0.0% |
| Revaluation surpluses | 12 | €2,327 | €2,327 | = | 0.0% |
| Reserves | 13 | €6,542,576 | €6,939,576 | +€397,000 | +6.1% |
| Tax-exempt reserves | 132 | €1,195,250 | €1,005,800 | -€189,450 | -15.9% |
| Distributable reserves | 133 | €5,347,326 | €5,933,776 | +€586,450 | +11.0% |
| Profit (loss) carried forward | 14 | €581 | €690 | +€109 | +18.7% |
| Amounts payable | 17/49 | €8,175,805 | €7,467,559 | -€708,246 | -8.7% |
| Amounts payable after more than one year | 17 | €2,267,163 | €1,975,003 | -€292,160 | -12.9% |
| Financial debts | 170/4 | €2,267,163 | €1,975,003 | -€292,160 | -12.9% |
| Credit institutions | 173 | €2,267,163 | €1,975,003 | -€292,160 | -12.9% |
| Amounts payable within one year | 42/48 | €5,745,681 | €5,297,403 | -€448,277 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €1,117,614 | €1,064,776 | -€52,837 | -4.7% |
| Financial debts | 43 | €753,584 | €735,661 | -€17,924 | -2.4% |
| Credit institutions | 430/8 | €753,584 | €735,661 | -€17,924 | -2.4% |
| Trade debts | 44 | €1,702,008 | €1,837,640 | +€135,632 | +8.0% |
| Suppliers | 440/4 | €1,702,008 | €1,837,640 | +€135,632 | +8.0% |
| Taxes, remuneration and social security | 45 | €1,672,475 | €1,659,327 | -€13,148 | -0.8% |
| Taxes | 450/3 | €371,384 | €285,299 | -€86,085 | -23.2% |
| Remuneration and social security | 454/9 | €1,301,091 | €1,374,028 | +€72,937 | +5.6% |
| Other amounts payable | 47/48 | €500,000 | €0 | -€500,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €162,961 | €195,152 | +€32,192 | +19.8% |
| Operating income | 70/76A | €39,013,026 | €40,579,604 | +€1.6m | +4.0% |
| Turnover | 70 | €38,328,065 | €39,557,480 | +€1.2m | +3.2% |
| Other operating income | 74 | €684,962 | €1,022,124 | +€337,163 | +49.2% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Operating charges | 60/66A | €37,270,777 | €39,628,504 | +€2.4m | +6.3% |
| Goods for resale, raw materials and consumables | 60 | €15,764,810 | €16,209,165 | +€444,354 | +2.8% |
| Purchases | 600/8 | €15,785,530 | €16,253,861 | +€468,330 | +3.0% |
| Change in stocks: decrease (increase) | 609 | -€20,720 | -€44,696 | -€23,976 | -115.7% |
| Services and other goods | 61 | €9,050,722 | €9,862,951 | +€812,229 | +9.0% |
| Remuneration, social security and pensions | 62 | €10,237,816 | €10,826,658 | +€588,842 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,854,466 | €2,026,353 | +€171,887 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,438 | - | -€5,438 | |
| Other operating charges | 640/8 | €331,744 | €367,859 | +€36,115 | +10.9% |
| Non-recurring operating charges | 66A | €25,782 | €335,519 | +€309,737 | +1201.4% |
| Operating profit (loss) | 9901 | €1,742,249 | €951,101 | -€791,148 | -45.4% |
| Financial income | 75/76B | €91,549 | €88,983 | -€2,565 | -2.8% |
| Recurring financial income | 75 | €91,549 | €88,983 | -€2,565 | -2.8% |
| Income from current assets | 751 | €82,850 | €76,554 | -€6,296 | -7.6% |
| Other financial income | 752/9 | €8,699 | €12,429 | +€3,730 | +42.9% |
| Financial charges | 65/66B | €428,014 | €436,886 | +€8,871 | +2.1% |
| Recurring financial charges | 65 | €428,014 | €436,886 | +€8,871 | +2.1% |
| Debt charges | 650 | €92,553 | €106,333 | +€13,780 | +14.9% |
| Other financial charges | 652/9 | €335,462 | €330,553 | -€4,909 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €1,405,783 | €603,199 | -€802,585 | -57.1% |
| Income taxes | 67/77 | €331,614 | €206,090 | -€125,524 | -37.9% |
| Taxes | 670/3 | €331,656 | €206,090 | -€125,566 | -37.9% |
| Tax adjustments and reversals of tax provisions | 77 | €42 | - | -€42 | |
| Profit (loss) for the period | 9904 | €1,074,170 | €397,109 | -€677,061 | -63.0% |
| Transfer from tax-exempt reserves | 789 | €526,250 | €189,450 | -€336,800 | -64.0% |
| Transfer to tax-exempt reserves | 689 | €421,000 | - | -€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,179,420 | €586,559 | -€592,861 | -50.3% |
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 6 October 2026 via checked.be.