CHAUDPAIN: 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
CHAUDPAIN
NACE 10.712, Artisanal bread and fresh pastry making
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,401
2024 · €47,268-€42,868
Equity
€285,574
2024 · €301,173-€15,599
Cash
€168,517
2024 · €120,616+€47,901
Balance sheet total
€3.0m
2024 · €2.9m+€130,945
Largest movements
Assets
- Tangible fixed assets +€103,405
up €103,405 (+3.9%), from €2.6m to €2.7m
of which Land and buildings: +€149,297
- Cash +€47,901
up €47,901 (+39.7%), from €120,616 to €168,517
mainly Depreciation (+€251,434) and Debts after one year (+€165,710)
Equity and liabilities
- Debts after one year +€165,710
up €165,710 (+9.7%), from €1.7m to €1.9m
- Short-term financial debts -€97,880
down €97,880 (-17.3%), from €564,456 to €466,576
Income statement
- Gross operating margin +€44,423
up €44,423 (+5.9%), from €750,117 to €794,540
- Depreciation +€40,583
up €40,583 (+19.2%), from €210,851 to €251,434
- Staff costs +€31,511
up €31,511 (+7.8%), from €401,929 to €433,440
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
€47,268
Gross operating margin
+€44,423
Staff costs
-€31,511
Depreciation
-€40,583
Other operating charges
-€2,255
Financial income
-€6,245
Financial charges
-€5,011
Taxes
-€1,686
Result 2025
€4,401
raises the resultlowers the result
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
+€325,985
Investment
-€353,761
Financing
+€75,677
Cash 2024
€120,616
From operations (derived)
+€325,985
Net result for the year
+€4,401
Depreciation
+€251,434
Stocks and contracts
-€1,071
Receivables within one year
+€20,768
Deferred charges and accrued income
-€413
Trade debts
+€3,967
Tax, wage and social debts
+€28,296
Advances received
-€6,000
Other debts
+€20,161
Accrued charges and deferred income
+€4,444
Investment (derived)
-€353,761
Investment in fixed assets (net)
-€353,761
Financing
+€75,677
Debts after one year
+€165,710
Current portion of long-term debt
+€27,848
Short-term financial debts
-€97,880
Contributions, distributions and other
-€20,000
Cash 2025
€168,517
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,894,762 | €3,025,708 | +€130,945 | +4.5% |
| Fixed assets | 21/28 | €2,628,870 | €2,731,198 | +€102,327 | +3.9% |
| Intangible fixed assets | 21 | €4,690 | €3,613 | -€1,078 | -23.0% |
| Tangible fixed assets | 22/27 | €2,624,180 | €2,727,585 | +€103,405 | +3.9% |
| Land and buildings | 22 | €1,884,534 | €2,033,831 | +€149,297 | +7.9% |
| Plant, machinery and equipment | 23 | €678,597 | €580,358 | -€98,239 | -14.5% |
| Furniture and vehicles | 24 | €48,440 | €107,794 | +€59,354 | +123% |
| Leasing and similar rights | 25 | €12,609 | €5,602 | -€7,008 | -55.6% |
| Current assets | 29/58 | €265,892 | €294,510 | +€28,618 | +10.8% |
| Stocks and contracts in progress | 3 | €31,183 | €32,255 | +€1,071 | +3.4% |
| Stocks | 30/36 | €31,183 | €32,255 | +€1,071 | +3.4% |
| Amounts receivable within one year | 40/41 | €90,227 | €69,459 | -€20,768 | -23.0% |
| Trade receivables | 40 | €37,741 | €49,170 | +€11,429 | +30.3% |
| Other amounts receivable | 41 | €52,486 | €20,289 | -€32,197 | -61.3% |
| Cash at bank and in hand | 54/58 | €120,616 | €168,517 | +€47,901 | +39.7% |
| Deferred charges and accrued income | 490/1 | €23,866 | €24,279 | +€413 | +1.7% |
| Total equity and liabilities | 10/49 | €2,894,762 | €3,025,708 | +€130,945 | +4.5% |
| Equity | 10/15 | €301,173 | €285,574 | -€15,599 | -5.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €281,173 | €265,574 | -€15,599 | -5.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €281,173 | €265,574 | -€15,599 | -5.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,593,589 | €2,740,134 | +€146,545 | +5.7% |
| Amounts payable after more than one year | 17 | €1,699,988 | €1,865,698 | +€165,710 | +9.7% |
| Financial debts | 170/4 | €1,699,988 | €1,865,698 | +€165,710 | +9.7% |
| Amounts payable within one year | 42/48 | €882,292 | €858,683 | -€23,609 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €140,548 | €168,396 | +€27,848 | +19.8% |
| Financial debts | 43 | €564,456 | €466,576 | -€97,880 | -17.3% |
| Credit institutions | 430/8 | €564,456 | €466,576 | -€97,880 | -17.3% |
| Trade debts | 44 | €52,920 | €56,887 | +€3,967 | +7.5% |
| Suppliers | 440/4 | €52,920 | €56,887 | +€3,967 | +7.5% |
| Advances received on contracts in progress | 46 | €26,000 | €20,000 | -€6,000 | -23.1% |
| Taxes, remuneration and social security | 45 | €95,132 | €123,428 | +€28,296 | +29.7% |
| Taxes | 450/3 | €16,716 | €39,230 | +€22,513 | +135% |
| Remuneration and social security | 454/9 | €78,416 | €84,198 | +€5,782 | +7.4% |
| Other amounts payable | 47/48 | €3,235 | €23,396 | +€20,161 | +623% |
| Accrued charges and deferred income | 492/3 | €11,309 | €15,753 | +€4,444 | +39.3% |
| Remuneration, social security and pensions | 62 | €401,929 | €433,440 | +€31,511 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,851 | €251,434 | +€40,583 | +19.2% |
| Other operating charges | 640/8 | €13,923 | €16,178 | +€2,255 | +16.2% |
| Gross operating margin | 9900 | €750,117 | €794,540 | +€44,423 | +5.9% |
| Operating profit (loss) | 9901 | €123,414 | €93,488 | -€29,926 | -24.2% |
| Financial income | 75/76B | €7,460 | €1,215 | -€6,245 | -83.7% |
| Recurring financial income | 75 | €7,460 | €1,215 | -€6,245 | -83.7% |
| Financial charges | 65/66B | €85,001 | €90,012 | +€5,011 | +5.9% |
| Recurring financial charges | 65 | €85,001 | €90,012 | +€5,011 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €45,873 | €4,691 | -€41,182 | -89.8% |
| Income taxes | 67/77 | -€1,395 | €291 | +€1,686 | |
| Profit (loss) for the period | 9904 | €47,268 | €4,401 | -€42,868 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,268 | €4,401 | -€42,868 | -90.7% |
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 15 October 2026 via checked.be.