CHE SYSTEMS: 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.
CHE SYSTEMS
Largest movements
- Stocks and contracts -€17,400
down €17,400 (-35.0%), from €49,650 to €32,250
- Deferred charges and accrued income -€16,845
down €16,845 (-97.7%), from €17,236 to €391
- Cash +€9,723
up €9,723 (+25.0%), from €38,969 to €48,692
mainly Accrued charges and deferred income (+€46,491) and Net result for the year (+€42,633)
- Tangible fixed assets -€5,913
down €5,913 (-34.6%), from €17,092 to €11,179
of which Furniture and vehicles: -€3,604
- Trade debts -€120,936
down €120,936 (-38.1%), from €317,711 to €196,775
- Accrued charges and deferred income +€46,491
new in 2025: €46,491
- Profit (loss) carried forward +€42,633
up €42,633 (+107.0%), from €39,828 to €82,461
- Tax, wage and social debts +€12,092
up €12,092 (+40.8%), from €29,620 to €41,712
of which Taxes: +€11,992
- Debts after one year -€7,960
no longer reported in 2025 (was €7,960)
- Gross operating margin +€54,259
up €54,259 (+20.9%), from €260,200 to €314,459
- Taxes +€19,254
up €19,254 (+219.9%), from €8,758 to €28,011
- Staff costs +€16,305
up €16,305 (+8.9%), from €183,327 to €199,632
- Other operating charges +€10,265
up €10,265 (+37.7%), from €27,212 to €37,477
- Financial income -€3,697
down €3,697 (-93.9%), from €3,937 to €240
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 | €417,284 | €387,844 | -€29,440 | -7.1% |
| Fixed assets | 21/28 | €17,404 | €11,491 | -€5,913 | -34.0% |
| Tangible fixed assets | 22/27 | €17,092 | €11,179 | -€5,913 | -34.6% |
| Plant, machinery and equipment | 23 | €6,741 | €4,433 | -€2,309 | -34.2% |
| Furniture and vehicles | 24 | €10,351 | €6,747 | -€3,604 | -34.8% |
| Financial fixed assets | 28 | €312 | €312 | = | 0.0% |
| Current assets | 29/58 | €399,880 | €376,353 | -€23,527 | -5.9% |
| Stocks and contracts in progress | 3 | €49,650 | €32,250 | -€17,400 | -35.0% |
| Stocks | 30/36 | €49,650 | €32,250 | -€17,400 | -35.0% |
| Amounts receivable within one year | 40/41 | €294,026 | €295,020 | +€994 | +0.3% |
| Trade receivables | 40 | €154,648 | €208,216 | +€53,568 | +34.6% |
| Other amounts receivable | 41 | €139,377 | €86,804 | -€52,574 | -37.7% |
| Cash at bank and in hand | 54/58 | €38,969 | €48,692 | +€9,723 | +25.0% |
| Deferred charges and accrued income | 490/1 | €17,236 | €391 | -€16,845 | -97.7% |
| Total equity and liabilities | 10/49 | €417,284 | €387,844 | -€29,440 | -7.1% |
| Equity | 10/15 | €60,233 | €102,866 | +€42,633 | +70.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Outside capital | 11 | €18,550 | - | -€18,550 | |
| Other | 1109/19 | €18,550 | - | -€18,550 | |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,828 | €82,461 | +€42,633 | +107.0% |
| Amounts payable | 17/49 | €357,051 | €284,977 | -€72,073 | -20.2% |
| Amounts payable after more than one year | 17 | €7,960 | - | -€7,960 | |
| Financial debts | 170/4 | €7,960 | - | -€7,960 | |
| Amounts payable within one year | 42/48 | €349,090 | €238,487 | -€110,604 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €1,760 | - | -€1,760 | |
| Trade debts | 44 | €317,711 | €196,775 | -€120,936 | -38.1% |
| Suppliers | 440/4 | €317,711 | €196,775 | -€120,936 | -38.1% |
| Taxes, remuneration and social security | 45 | €29,620 | €41,712 | +€12,092 | +40.8% |
| Taxes | 450/3 | €20,976 | €32,967 | +€11,992 | +57.2% |
| Remuneration and social security | 454/9 | €8,644 | €8,744 | +€100 | +1.2% |
| Accrued charges and deferred income | 492/3 | - | €46,491 | +€46,491 | |
| Remuneration, social security and pensions | 62 | €183,327 | €199,632 | +€16,305 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,306 | €6,968 | +€661 | +10.5% |
| Other operating charges | 640/8 | €27,212 | €37,477 | +€10,265 | +37.7% |
| Non-recurring operating charges | 66A | €1,992 | -€2,568 | -€4,560 | |
| Gross operating margin | 9900 | €260,200 | €314,459 | +€54,259 | +20.9% |
| Operating profit (loss) | 9901 | €41,362 | €72,950 | +€31,588 | +76.4% |
| Financial income | 75/76B | €3,937 | €240 | -€3,697 | -93.9% |
| Recurring financial income | 75 | €3,937 | €240 | -€3,697 | -93.9% |
| Financial charges | 65/66B | €3,531 | €2,546 | -€985 | -27.9% |
| Recurring financial charges | 65 | €3,531 | €2,546 | -€985 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €41,768 | €70,644 | +€28,876 | +69.1% |
| Income taxes | 67/77 | €8,758 | €28,011 | +€19,254 | +219.9% |
| Profit (loss) for the period | 9904 | €33,011 | €42,633 | +€9,622 | +29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,011 | €42,633 | +€9,622 | +29.1% |
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 3 October 2026 via checked.be.