CHEN: 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.
CHEN
Largest movements
- Tangible fixed assets -€22,464
down €22,464 (-4.1%), from €542,915 to €520,451
of which Land and buildings: -€19,864
- Receivables within one year +€11,334
up €11,334 (+22.5%), from €50,285 to €61,619
of which Other amounts receivable: +€10,982
- Tax, wage and social debts -€24,498
down €24,498 (-60.7%), from €40,349 to €15,852
of which Taxes: -€24,329
- Reserves +€22,193
up €22,193 (+12.7%), from €174,353 to €196,546
- Debts after one year -€17,083
down €17,083 (-3.6%), from €471,016 to €453,933
- Trade debts +€10,017
up €10,017 (+150.7%), from €6,647 to €16,664
- Other operating charges -€62,957
down €62,957 (-94.0%), from €66,971 to €4,014
- Depreciation +€11,077
up €11,077 (+45.7%), from €24,264 to €35,341
- Taxes +€10,761
up €10,761 (+1675.1%), from €642 to €11,403
- Financial charges +€7,238
up €7,238 (+42.0%), from €17,228 to €24,466
- Financial income -€3,150
down €3,150 (-98.7%), from €3,190 to €41
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 | €717,146 | €705,077 | -€12,069 | -1.7% |
| Fixed assets | 21/28 | €542,915 | €520,451 | -€22,464 | -4.1% |
| Tangible fixed assets | 22/27 | €542,915 | €520,451 | -€22,464 | -4.1% |
| Land and buildings | 22 | €482,995 | €463,131 | -€19,864 | -4.1% |
| Plant, machinery and equipment | 23 | €39,638 | €29,223 | -€10,415 | -26.3% |
| Furniture and vehicles | 24 | €7,520 | €5,640 | -€1,880 | -25.0% |
| Other tangible fixed assets | 26 | €12,763 | €22,458 | +€9,695 | +76.0% |
| Current assets | 29/58 | €174,231 | €184,625 | +€10,395 | +6.0% |
| Amounts receivable after more than one year | 29 | €101,733 | €101,733 | = | 0.0% |
| Trade receivables | 290 | €101,733 | €101,733 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,895 | €2,048 | +€154 | +8.1% |
| Stocks | 30/36 | €1,895 | €2,048 | +€154 | +8.1% |
| Amounts receivable within one year | 40/41 | €50,285 | €61,619 | +€11,334 | +22.5% |
| Trade receivables | 40 | - | €352 | +€352 | |
| Other amounts receivable | 41 | €50,285 | €61,267 | +€10,982 | +21.8% |
| Cash at bank and in hand | 54/58 | €17,952 | €16,458 | -€1,494 | -8.3% |
| Deferred charges and accrued income | 490/1 | €2,365 | €2,767 | +€401 | +17.0% |
| Total equity and liabilities | 10/49 | €717,146 | €705,077 | -€12,069 | -1.7% |
| Equity | 10/15 | €177,344 | €201,546 | +€24,201 | +13.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €174,353 | €196,546 | +€22,193 | +12.7% |
| Distributable reserves | 133 | €174,353 | €196,546 | +€22,193 | +12.7% |
| Profit (loss) carried forward | 14 | -€2,008 | - | +€2,008 | |
| Amounts payable | 17/49 | €539,801 | €503,531 | -€36,270 | -6.7% |
| Amounts payable after more than one year | 17 | €471,016 | €453,933 | -€17,083 | -3.6% |
| Financial debts | 170/4 | €471,016 | €453,933 | -€17,083 | -3.6% |
| Amounts payable within one year | 42/48 | €68,786 | €49,598 | -€19,187 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €16,359 | €17,083 | +€724 | +4.4% |
| Trade debts | 44 | €6,647 | €16,664 | +€10,017 | +150.7% |
| Suppliers | 440/4 | €6,647 | €16,664 | +€10,017 | +150.7% |
| Taxes, remuneration and social security | 45 | €40,349 | €15,852 | -€24,498 | -60.7% |
| Taxes | 450/3 | €39,086 | €14,758 | -€24,329 | -62.2% |
| Remuneration and social security | 454/9 | €1,263 | €1,094 | -€169 | -13.4% |
| Other amounts payable | 47/48 | €5,431 | - | -€5,431 | |
| Remuneration, social security and pensions | 62 | €18,287 | €21,011 | +€2,723 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,264 | €35,341 | +€11,077 | +45.7% |
| Other operating charges | 640/8 | €66,971 | €4,014 | -€62,957 | -94.0% |
| Gross operating margin | 9900 | €122,194 | €121,321 | -€873 | -0.7% |
| Operating profit (loss) | 9901 | €12,672 | €60,955 | +€48,283 | +381.0% |
| Financial income | 75/76B | €3,190 | €41 | -€3,150 | -98.7% |
| Recurring financial income | 75 | €3,190 | €41 | -€3,150 | -98.7% |
| Financial charges | 65/66B | €17,228 | €24,466 | +€7,238 | +42.0% |
| Recurring financial charges | 65 | €17,228 | €24,466 | +€7,238 | +42.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,366 | €36,530 | +€37,896 | |
| Income taxes | 67/77 | €642 | €11,403 | +€10,761 | +1675.1% |
| Profit (loss) for the period | 9904 | -€2,008 | €25,127 | +€27,135 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,008 | €25,127 | +€27,135 |
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 4 October 2026 via checked.be.