CHEESE AND MORE: 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.
CHEESE AND MORE
Largest movements
- Tangible fixed assets -€21,304
down €21,304 (-7.0%), from €304,364 to €283,060
- Cash +€5,996
up €5,996 (+55.6%), from €10,781 to €16,776
mainly Depreciation (+€24,348) and Trade debts (+€12,836)
- Receivables within one year -€3,399
down €3,399 (-64.4%), from €5,280 to €1,881
of which Other amounts receivable: -€3,579
- Debts after one year -€23,922
down €23,922 (-8.4%), from €285,364 to €261,442
- Profit (loss) carried forward -€21,171
down €21,171 (-233%), from -€9,088 to -€30,259
- Trade debts +€12,836
up €12,836 (+101%), from €12,759 to €25,595
- Other debts +€11,877
up €11,877 (+52.1%), from €22,811 to €34,688
- Gross operating margin -€21,903
down €21,903 (-50.7%), from €43,242 to €21,339
- Financial charges +€838
up €838 (+5.6%), from €14,851 to €15,689
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €335,424 | €316,718 | -€18,707 | -5.6% |
| Fixed assets | 21/28 | €304,364 | €283,060 | -€21,304 | -7.0% |
| Tangible fixed assets | 22/27 | €304,364 | €283,060 | -€21,304 | -7.0% |
| Land and buildings | 22 | €215,912 | €206,235 | -€9,676 | -4.5% |
| Plant, machinery and equipment | 23 | €64,306 | €58,952 | -€5,354 | -8.3% |
| Furniture and vehicles | 24 | €24,146 | €17,873 | -€6,273 | -26.0% |
| Current assets | 29/58 | €31,061 | €33,658 | +€2,597 | +8.4% |
| Stocks and contracts in progress | 3 | €15,000 | €15,000 | = | 0.0% |
| Stocks | 30/36 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,280 | €1,881 | -€3,399 | -64.4% |
| Trade receivables | 40 | €256 | €437 | +€181 | +70.5% |
| Other amounts receivable | 41 | €5,024 | €1,445 | -€3,579 | -71.2% |
| Cash at bank and in hand | 54/58 | €10,781 | €16,776 | +€5,996 | +55.6% |
| Total equity and liabilities | 10/49 | €335,424 | €316,718 | -€18,707 | -5.6% |
| Equity | 10/15 | -€9,028 | -€30,199 | -€21,171 | -235% |
| Contributions | 10/11 | €60 | €60 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,088 | -€30,259 | -€21,171 | -233% |
| Amounts payable | 17/49 | €344,452 | €346,917 | +€2,465 | +0.7% |
| Amounts payable after more than one year | 17 | €285,364 | €261,442 | -€23,922 | -8.4% |
| Financial debts | 170/4 | €285,364 | €261,442 | -€23,922 | -8.4% |
| Amounts payable within one year | 42/48 | €59,088 | €85,475 | +€26,387 | +44.7% |
| Current portion of amounts payable after more than one year | 42 | €22,930 | €23,922 | +€992 | +4.3% |
| Trade debts | 44 | €12,759 | €25,595 | +€12,836 | +101% |
| Suppliers | 440/4 | €12,759 | €25,595 | +€12,836 | +101% |
| Taxes, remuneration and social security | 45 | €588 | €1,270 | +€682 | +116% |
| Taxes | 450/3 | €588 | €1,270 | +€682 | +116% |
| Other amounts payable | 47/48 | €22,811 | €34,688 | +€11,877 | +52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,179 | €24,348 | +€168 | +0.7% |
| Other operating charges | 640/8 | €2,789 | €2,552 | -€237 | -8.5% |
| Gross operating margin | 9900 | €43,242 | €21,339 | -€21,903 | -50.7% |
| Operating profit (loss) | 9901 | €16,274 | -€5,560 | -€21,834 | |
| Financial income | 75/76B | €25 | €33 | +€8 | +32.7% |
| Recurring financial income | 75 | €25 | €33 | +€8 | +32.7% |
| Financial charges | 65/66B | €14,851 | €15,689 | +€838 | +5.6% |
| Recurring financial charges | 65 | €14,851 | €15,689 | +€838 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €1,448 | -€21,216 | -€22,664 | |
| Income taxes | 67/77 | €19 | -€45 | -€64 | |
| Profit (loss) for the period | 9904 | €1,428 | -€21,171 | -€22,600 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,428 | -€21,171 | -€22,600 |
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 30 October 2026 via checked.be.