CHEEZ: 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.
CHEEZ
Largest movements
- Cash +€50,068
up €50,068 (+40.1%), from €124,850 to €174,917
mainly Net result for the year (+€57,464) and Debts after one year (+€6,729)
- Current investments +€5,655
up €5,655 (+2.5%), from €221,913 to €227,568
- Reserves +€57,464
up €57,464 (+35.4%), from €162,353 to €219,817
of which Distributable reserves: +€57,464
- Tax, wage and social debts -€8,412
down €8,412 (-28.8%), from €29,180 to €20,768
- Debts after one year +€6,729
up €6,729 (+5.4%), from €123,480 to €130,209
- Financial charges +€4,676
up €4,676 (+85.4%), from €5,474 to €10,149
- Gross operating margin +€4,049
up €4,049 (+4.7%), from €86,502 to €90,550
- Financial income +€927
up €927 (+32.6%), from €2,848 to €3,775
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 | €373,264 | €425,379 | +€52,115 | +14.0% |
| Fixed assets | 21/28 | €7,853 | €4,233 | -€3,620 | -46.1% |
| Tangible fixed assets | 22/27 | €7,853 | €4,233 | -€3,620 | -46.1% |
| Plant, machinery and equipment | 23 | €1,855 | €1,468 | -€387 | -20.9% |
| Furniture and vehicles | 24 | €5,999 | €2,766 | -€3,233 | -53.9% |
| Current assets | 29/58 | €365,411 | €421,146 | +€55,735 | +15.3% |
| Amounts receivable within one year | 40/41 | €17,738 | €17,635 | -€103 | -0.6% |
| Trade receivables | 40 | €17,702 | €17,635 | -€68 | -0.4% |
| Other amounts receivable | 41 | €36 | €0 | -€36 | -100.0% |
| Current investments | 50/53 | €221,913 | €227,568 | +€5,655 | +2.5% |
| Cash at bank and in hand | 54/58 | €124,850 | €174,917 | +€50,068 | +40.1% |
| Deferred charges and accrued income | 490/1 | €910 | €1,026 | +€116 | +12.7% |
| Total equity and liabilities | 10/49 | €373,264 | €425,379 | +€52,115 | +14.0% |
| Equity | 10/15 | €180,953 | €238,417 | +€57,464 | +31.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €162,353 | €219,817 | +€57,464 | +35.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €162,353 | €219,817 | +€57,464 | +35.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €192,311 | €186,962 | -€5,349 | -2.8% |
| Amounts payable after more than one year | 17 | €123,480 | €130,209 | +€6,729 | +5.4% |
| Other amounts payable | 178/9 | €123,480 | €130,209 | +€6,729 | +5.4% |
| Amounts payable within one year | 42/48 | €68,773 | €56,754 | -€12,020 | -17.5% |
| Trade debts | 44 | €608 | €1,123 | +€514 | +84.5% |
| Suppliers | 440/4 | €608 | €1,123 | +€514 | +84.5% |
| Taxes, remuneration and social security | 45 | €29,180 | €20,768 | -€8,412 | -28.8% |
| Taxes | 450/3 | €29,180 | €20,768 | -€8,412 | -28.8% |
| Other amounts payable | 47/48 | €38,985 | €34,863 | -€4,122 | -10.6% |
| Accrued charges and deferred income | 492/3 | €58 | €0 | -€58 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,206 | €3,620 | +€414 | +12.9% |
| Other operating charges | 640/8 | €851 | €1,070 | +€220 | +25.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €86,502 | €90,550 | +€4,049 | +4.7% |
| Operating profit (loss) | 9901 | €82,445 | €85,860 | +€3,415 | +4.1% |
| Financial income | 75/76B | €2,848 | €3,775 | +€927 | +32.6% |
| Recurring financial income | 75 | €2,848 | €3,775 | +€927 | +32.6% |
| Financial charges | 65/66B | €5,474 | €10,149 | +€4,676 | +85.4% |
| Recurring financial charges | 65 | €5,474 | €10,149 | +€4,676 | +85.4% |
| Profit (loss) for the period before taxes | 9903 | €79,820 | €79,486 | -€334 | -0.4% |
| Income taxes | 67/77 | €22,643 | €22,022 | -€620 | -2.7% |
| Profit (loss) for the period | 9904 | €57,177 | €57,464 | +€286 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €57,177 | €57,464 | +€286 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.