CHEFAR: 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.
CHEFAR
Largest movements
- Receivables within one year +€162,558
up €162,558 (+43.6%), from €372,616 to €535,175
of which Other amounts receivable: +€152,878
- Cash -€36,313
down €36,313 (-39.8%), from €91,168 to €54,855
mainly Receivables within one year (-€162,558) and Debts after one year (-€70,895)
- Reserves +€180,098
up €180,098 (+13.1%), from €1.4m to €1.6m
- Debts after one year -€70,895
down €70,895 (-100.0%), from €70,895 to €0
- Financial income +€49,340
up €49,340 (+270355.2%), from €18 to €49,358
- Gross operating margin +€42,675
up €42,675 (+27.5%), from €155,256 to €197,931
- Taxes +€19,030
up €19,030 (+44.7%), from €42,601 to €61,630
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 | €2,526,730 | €2,652,901 | +€126,171 | +5.0% |
| Fixed assets | 21/28 | €2,062,500 | €2,062,500 | = | 0.0% |
| Financial fixed assets | 28 | €2,062,500 | €2,062,500 | = | 0.0% |
| Current assets | 29/58 | €464,230 | €590,401 | +€126,171 | +27.2% |
| Amounts receivable within one year | 40/41 | €372,616 | €535,175 | +€162,558 | +43.6% |
| Trade receivables | 40 | - | €9,680 | +€9,680 | |
| Other amounts receivable | 41 | €372,616 | €525,495 | +€152,878 | +41.0% |
| Cash at bank and in hand | 54/58 | €91,168 | €54,855 | -€36,313 | -39.8% |
| Deferred charges and accrued income | 490/1 | €445 | €371 | -€75 | -16.7% |
| Total equity and liabilities | 10/49 | €2,526,730 | €2,652,901 | +€126,171 | +5.0% |
| Equity | 10/15 | €1,956,040 | €2,136,137 | +€180,098 | +9.2% |
| Contributions | 10/11 | €585,700 | €585,700 | = | 0.0% |
| Reserves | 13 | €1,370,340 | €1,550,437 | +€180,098 | +13.1% |
| Distributable reserves | 133 | €1,370,340 | €1,550,437 | +€180,098 | +13.1% |
| Amounts payable | 17/49 | €570,690 | €516,763 | -€53,927 | -9.4% |
| Amounts payable after more than one year | 17 | €70,895 | €0 | -€70,895 | -100.0% |
| Financial debts | 170/4 | €70,895 | €0 | -€70,895 | -100.0% |
| Amounts payable within one year | 42/48 | €493,759 | €510,753 | +€16,995 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €68,816 | €70,895 | +€2,079 | +3.0% |
| Financial debts | 43 | €6,763 | €6,738 | -€26 | -0.4% |
| Credit institutions | 430/8 | €6,763 | €6,738 | -€26 | -0.4% |
| Trade debts | 44 | €2,541 | €2,604 | +€63 | +2.5% |
| Suppliers | 440/4 | €2,541 | €2,604 | +€63 | +2.5% |
| Taxes, remuneration and social security | 45 | €15,376 | €30,253 | +€14,878 | +96.8% |
| Taxes | 450/3 | €15,376 | €30,253 | +€14,878 | +96.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €400,263 | €400,263 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,036 | €6,010 | -€26 | -0.4% |
| Other operating charges | 640/8 | €1,610 | €1,298 | -€312 | -19.4% |
| Gross operating margin | 9900 | €155,256 | €197,931 | +€42,675 | +27.5% |
| Operating profit (loss) | 9901 | €153,646 | €196,633 | +€42,987 | +28.0% |
| Financial income | 75/76B | €18 | €49,358 | +€49,340 | +270355.2% |
| Recurring financial income | 75 | €18 | €49,358 | +€49,340 | +270355.2% |
| Financial charges | 65/66B | €6,178 | €4,263 | -€1,915 | -31.0% |
| Recurring financial charges | 65 | €6,178 | €4,263 | -€1,915 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €147,486 | €241,728 | +€94,242 | +63.9% |
| Income taxes | 67/77 | €42,601 | €61,630 | +€19,030 | +44.7% |
| Profit (loss) for the period | 9904 | €104,886 | €180,098 | +€75,212 | +71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €104,886 | €180,098 | +€75,212 | +71.7% |
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.