CHEESELINE: 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.
CHEESELINE
Largest movements
- Receivables within one year -€319,151
down €319,151 (-34.4%), from €927,721 to €608,570
of which Other amounts receivable: -€303,039
- Tangible fixed assets -€19,326
down €19,326 (-86.0%), from €22,477 to €3,151
- Cash +€18,978
new in 2025: €18,978
mainly Receivables within one year (+€319,151) and Depreciation (+€19,326)
- Profit (loss) carried forward -€152,676
down €152,676 (-27.0%), from -€565,050 to -€717,726
- Other debts -€65,847
down €65,847 (-31.7%), from €207,758 to €141,911
- Trade debts -€56,338
down €56,338 (-24.6%), from €229,312 to €172,975
- Tax, wage and social debts -€44,729
down €44,729 (-28.8%), from €155,524 to €110,795
of which Remuneration and social security: -€41,703
- Services and other goods -€158,107
down €158,107 (-13.3%), from €1.2m to €1.0m
- Turnover -€83,032
down €83,032 (-6.0%), from €1.4m to €1.3m
- Staff costs -€82,662
down €82,662 (-9.0%), from €914,364 to €831,702
- Other operating income +€82,529
up €82,529 (+28.8%), from €286,700 to €369,229
- Depreciation -€52,822
down €52,822 (-73.2%), from €72,148 to €19,326
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 | €954,013 | €632,216 | -€321,797 | -33.7% |
| Fixed assets | 21/28 | €22,477 | €3,151 | -€19,326 | -86.0% |
| Tangible fixed assets | 22/27 | €22,477 | €3,151 | -€19,326 | -86.0% |
| Furniture and vehicles | 24 | €22,477 | €3,151 | -€19,326 | -86.0% |
| Current assets | 29/58 | €931,536 | €629,065 | -€302,471 | -32.5% |
| Amounts receivable within one year | 40/41 | €927,721 | €608,570 | -€319,151 | -34.4% |
| Trade receivables | 40 | €194,411 | €178,298 | -€16,113 | -8.3% |
| Other amounts receivable | 41 | €733,310 | €430,272 | -€303,039 | -41.3% |
| Cash at bank and in hand | 54/58 | - | €18,978 | +€18,978 | |
| Deferred charges and accrued income | 490/1 | €3,815 | €1,517 | -€2,298 | -60.2% |
| Total equity and liabilities | 10/49 | €954,013 | €632,216 | -€321,797 | -33.7% |
| Equity | 10/15 | €361,419 | €206,536 | -€154,884 | -42.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €861,547 | €861,547 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €726,518 | €726,518 | = | 0.0% |
| Distributable reserves | 133 | €128,829 | €128,829 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€565,050 | -€717,726 | -€152,676 | -27.0% |
| Investment grants | 15 | €2,921 | €714 | -€2,207 | -75.6% |
| Amounts payable | 17/49 | €592,594 | €425,681 | -€166,913 | -28.2% |
| Amounts payable within one year | 42/48 | €592,594 | €425,681 | -€166,913 | -28.2% |
| Trade debts | 44 | €229,312 | €172,975 | -€56,338 | -24.6% |
| Suppliers | 440/4 | €229,312 | €172,975 | -€56,338 | -24.6% |
| Taxes, remuneration and social security | 45 | €155,524 | €110,795 | -€44,729 | -28.8% |
| Taxes | 450/3 | €18,148 | €15,122 | -€3,026 | -16.7% |
| Remuneration and social security | 454/9 | €137,375 | €95,673 | -€41,703 | -30.4% |
| Other amounts payable | 47/48 | €207,758 | €141,911 | -€65,847 | -31.7% |
| Operating income | 70/76A | €1,685,036 | €1,683,337 | -€1,698 | -0.1% |
| Turnover | 70 | €1,387,835 | €1,304,803 | -€83,032 | -6.0% |
| Other operating income | 74 | €286,700 | €369,229 | +€82,529 | +28.8% |
| Non-recurring operating income | 76A | €10,500 | €9,305 | -€1,195 | -11.4% |
| Operating charges | 60/66A | €2,171,718 | €1,884,298 | -€287,420 | -13.2% |
| Services and other goods | 61 | €1,184,916 | €1,026,809 | -€158,107 | -13.3% |
| Remuneration, social security and pensions | 62 | €914,364 | €831,702 | -€82,662 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,148 | €19,326 | -€52,822 | -73.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,533 | - | +€2,533 | |
| Other operating charges | 640/8 | €2,822 | €6,460 | +€3,639 | +129.0% |
| Operating profit (loss) | 9901 | -€486,682 | -€200,960 | +€285,722 | +58.7% |
| Financial income | 75/76B | €4,206 | €2,207 | -€1,999 | -47.5% |
| Recurring financial income | 75 | €4,206 | €2,207 | -€1,999 | -47.5% |
| Other financial income | 752/9 | €4,206 | €2,207 | -€1,999 | -47.5% |
| Financial charges | 65/66B | €6,605 | €4,863 | -€1,742 | -26.4% |
| Recurring financial charges | 65 | €6,605 | €4,863 | -€1,742 | -26.4% |
| Debt charges | 650 | €4,544 | €2,713 | -€1,831 | -40.3% |
| Other financial charges | 652/9 | €2,061 | €2,149 | +€88 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | -€489,082 | -€203,616 | +€285,466 | +58.4% |
| Income taxes | 67/77 | €1,500 | -€50,939 | -€52,439 | |
| Taxes | 670/3 | €1,500 | - | -€1,500 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €50,939 | +€50,939 | |
| Profit (loss) for the period | 9904 | -€490,582 | -€152,676 | +€337,905 | +68.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€490,582 | -€152,676 | +€337,905 | +68.9% |
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 10 October 2026 via checked.be.