CHEF AD: 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.
CHEF AD
Largest movements
- Receivables within one year -€27,043
down €27,043 (-67.2%), from €40,249 to €13,206
of which Trade receivables: -€19,097
- Tangible fixed assets -€24,626
down €24,626 (-24.8%), from €99,439 to €74,813
of which Leasing and similar rights: -€15,901
- Cash +€4,878
up €4,878 (+5.0%), from €97,827 to €102,705
mainly Depreciation (+€28,394) and Receivables within one year (+€27,043)
- Tax, wage and social debts -€18,751
down €18,751 (-52.6%), from €35,642 to €16,892
of which Taxes: -€18,904
- Accrued charges and deferred income +€18,000
up €18,000 (+900.0%), from €2,000 to €20,000
- Profit (loss) carried forward -€17,010
down €17,010 (-22.1%), from €77,090 to €60,080
- Debts after one year -€15,845
down €15,845 (-31.4%), from €50,450 to €34,604
- Trade debts -€12,538
down €12,538 (-56.2%), from €22,320 to €9,783
- Staff costs +€31,552
up €31,552 (+58.9%), from €53,526 to €85,077
- Gross operating margin -€21,984
down €21,984 (-17.1%), from €128,215 to €106,231
- Taxes -€9,826
down €9,826 (-97.8%), from €10,044 to €219
- Depreciation +€2,769
up €2,769 (+10.8%), from €25,625 to €28,394
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 | €247,089 | €198,968 | -€48,122 | -19.5% |
| Fixed assets | 21/28 | €102,144 | €77,518 | -€24,626 | -24.1% |
| Tangible fixed assets | 22/27 | €99,439 | €74,813 | -€24,626 | -24.8% |
| Plant, machinery and equipment | 23 | €6,851 | €3,499 | -€3,353 | -48.9% |
| Furniture and vehicles | 24 | €25,513 | €18,113 | -€7,400 | -29.0% |
| Leasing and similar rights | 25 | €64,559 | €48,658 | -€15,901 | -24.6% |
| Other tangible fixed assets | 26 | €2,515 | €4,543 | +€2,028 | +80.6% |
| Financial fixed assets | 28 | €2,705 | €2,705 | = | 0.0% |
| Current assets | 29/58 | €144,946 | €121,450 | -€23,496 | -16.2% |
| Stocks and contracts in progress | 3 | €682 | €1,017 | +€334 | +49.0% |
| Stocks | 30/36 | €682 | €1,017 | +€334 | +49.0% |
| Amounts receivable within one year | 40/41 | €40,249 | €13,206 | -€27,043 | -67.2% |
| Trade receivables | 40 | €23,892 | €4,795 | -€19,097 | -79.9% |
| Other amounts receivable | 41 | €16,357 | €8,411 | -€7,946 | -48.6% |
| Cash at bank and in hand | 54/58 | €97,827 | €102,705 | +€4,878 | +5.0% |
| Deferred charges and accrued income | 490/1 | €6,188 | €4,523 | -€1,665 | -26.9% |
| Total equity and liabilities | 10/49 | €247,089 | €198,968 | -€48,122 | -19.5% |
| Equity | 10/15 | €87,090 | €70,080 | -€17,010 | -19.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,090 | €60,080 | -€17,010 | -22.1% |
| Amounts payable | 17/49 | €160,000 | €128,888 | -€31,112 | -19.4% |
| Amounts payable after more than one year | 17 | €50,450 | €34,604 | -€15,845 | -31.4% |
| Financial debts | 170/4 | €50,450 | €34,604 | -€15,845 | -31.4% |
| Amounts payable within one year | 42/48 | €107,550 | €74,283 | -€33,267 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €44,947 | €45,845 | +€898 | +2.0% |
| Trade debts | 44 | €22,320 | €9,783 | -€12,538 | -56.2% |
| Suppliers | 440/4 | €22,320 | €9,783 | -€12,538 | -56.2% |
| Taxes, remuneration and social security | 45 | €35,642 | €16,892 | -€18,751 | -52.6% |
| Taxes | 450/3 | €29,168 | €10,263 | -€18,904 | -64.8% |
| Remuneration and social security | 454/9 | €6,475 | €6,629 | +€154 | +2.4% |
| Other amounts payable | 47/48 | €4,640 | €1,763 | -€2,877 | -62.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | €20,000 | +€18,000 | +900.0% |
| Remuneration, social security and pensions | 62 | €53,526 | €85,077 | +€31,552 | +58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,625 | €28,394 | +€2,769 | +10.8% |
| Other operating charges | 640/8 | €4,484 | €4,923 | +€440 | +9.8% |
| Gross operating margin | 9900 | €128,215 | €106,231 | -€21,984 | -17.1% |
| Operating profit (loss) | 9901 | €44,580 | -€12,164 | -€56,745 | |
| Financial income | 75/76B | €475 | €339 | -€136 | -28.7% |
| Recurring financial income | 75 | €475 | €339 | -€136 | -28.7% |
| Financial charges | 65/66B | €4,681 | €4,966 | +€285 | +6.1% |
| Recurring financial charges | 65 | €4,681 | €4,966 | +€285 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €40,375 | -€16,791 | -€57,166 | |
| Income taxes | 67/77 | €10,044 | €219 | -€9,826 | -97.8% |
| Profit (loss) for the period | 9904 | €30,331 | -€17,010 | -€47,341 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,331 | -€17,010 | -€47,341 |
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 6 October 2026 via checked.be.