CHELCO: 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.
CHELCO
Largest movements
- Stocks and contracts -€227,170
no longer reported in 2025 (was €227,170)
- Cash +€56,298
up €56,298 (+260.0%), from €21,654 to €77,952
mainly Stocks and contracts (+€227,170) and Net result for the year (+€66,618)
- Other debts -€212,677
down €212,677 (-98.4%), from €216,033 to €3,356
- Reserves +€85,460
new in 2025: €85,460
- Profit (loss) carried forward -€18,842
no longer reported in 2025 (was €18,842)
- Tax, wage and social debts -€15,530
no longer reported in 2025 (was €15,530)
- Trade debts -€6,262
down €6,262 (-26.1%), from €23,950 to €17,687
- Gross operating margin +€51,825
up €51,825 (+122.4%), from €42,327 to €94,152
- Taxes +€14,214
up €14,214 (+124.5%), from €11,420 to €25,634
- Financial income -€1,718
down €1,718 (-99.3%), from €1,730 to €13
- Financial charges -€1,126
down €1,126 (-48.4%), from €2,326 to €1,200
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 | €286,755 | €118,903 | -€167,851 | -58.5% |
| Current assets | 29/58 | €286,755 | €118,903 | -€167,851 | -58.5% |
| Stocks and contracts in progress | 3 | €227,170 | - | -€227,170 | |
| Stocks | 30/36 | €227,170 | - | -€227,170 | |
| Amounts receivable within one year | 40/41 | €37,931 | €38,196 | +€265 | +0.7% |
| Trade receivables | 40 | €33,713 | €2,160 | -€31,553 | -93.6% |
| Other amounts receivable | 41 | €4,217 | €36,035 | +€31,818 | +754.5% |
| Cash at bank and in hand | 54/58 | €21,654 | €77,952 | +€56,298 | +260.0% |
| Deferred charges and accrued income | 490/1 | €0 | €2,756 | +€2,756 | |
| Total equity and liabilities | 10/49 | €286,755 | €118,903 | -€167,851 | -58.5% |
| Equity | 10/15 | €31,242 | €97,860 | +€66,618 | +213.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | - | €85,460 | +€85,460 | |
| Distributable reserves | 133 | - | €85,460 | +€85,460 | |
| Profit (loss) carried forward | 14 | €18,842 | - | -€18,842 | |
| Amounts payable | 17/49 | €255,513 | €21,043 | -€234,470 | -91.8% |
| Amounts payable within one year | 42/48 | €255,513 | €21,043 | -€234,470 | -91.8% |
| Trade debts | 44 | €23,950 | €17,687 | -€6,262 | -26.1% |
| Suppliers | 440/4 | €23,950 | €17,687 | -€6,262 | -26.1% |
| Taxes, remuneration and social security | 45 | €15,530 | - | -€15,530 | |
| Taxes | 450/3 | €15,530 | - | -€15,530 | |
| Other amounts payable | 47/48 | €216,033 | €3,356 | -€212,677 | -98.4% |
| Non-recurring operating income | 76A | - | €267,466 | +€267,466 | |
| Other operating charges | 640/8 | €141 | €712 | +€572 | +406.9% |
| Gross operating margin | 9900 | €42,327 | €94,152 | +€51,825 | +122.4% |
| Operating profit (loss) | 9901 | €42,186 | €93,440 | +€51,254 | +121.5% |
| Financial income | 75/76B | €1,730 | €13 | -€1,718 | -99.3% |
| Recurring financial income | 75 | €1,730 | €13 | -€1,718 | -99.3% |
| Financial charges | 65/66B | €2,326 | €1,200 | -€1,126 | -48.4% |
| Recurring financial charges | 65 | €2,326 | €1,200 | -€1,126 | -48.4% |
| Profit (loss) for the period before taxes | 9903 | €41,590 | €92,252 | +€50,662 | +121.8% |
| Income taxes | 67/77 | €11,420 | €25,634 | +€14,214 | +124.5% |
| Profit (loss) for the period | 9904 | €30,171 | €66,618 | +€36,448 | +120.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,171 | €66,618 | +€36,448 | +120.8% |
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 11 October 2026 via checked.be.