CHEN LU: 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.
CHEN LU
Largest movements
- Cash -€101,090
down €101,090 (-36.9%), from €273,589 to €172,499
mainly Contributions, distributions and other (-€150,000) and Receivables within one year (-€26,921)
- Receivables within one year +€26,921
up €26,921 (+79.5%), from €33,878 to €60,799
of which Other amounts receivable: +€26,448
- Tangible fixed assets -€15,871
down €15,871 (-9.4%), from €169,208 to €153,337
of which Plant, machinery and equipment: -€15,554
- Stocks and contracts +€5,019
up €5,019 (+602.0%), from €834 to €5,852
- Profit (loss) carried forward -€109,661
down €109,661 (-36.6%), from €299,473 to €189,813
- Other debts +€70,488
new in 2025: €70,488
- Debts after one year -€18,019
down €18,019 (-27.1%), from €66,587 to €48,568
- Current portion of long-term debt -€9,985
down €9,985 (-26.6%), from €37,596 to €27,611
- Trade debts -€6,620
down €6,620 (-25.6%), from €25,874 to €19,255
- Taxes -€45,852
down €45,852 (-99.5%), from €46,063 to €211
- Gross operating margin +€31,928
up €31,928 (+10.1%), from €314,817 to €346,745
- Other operating charges +€8,475
up €8,475 (+109.7%), from €7,722 to €16,197
- Staff costs +€5,706
up €5,706 (+7.4%), from €77,378 to €83,084
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 | €485,886 | €401,917 | -€83,970 | -17.3% |
| Fixed assets | 21/28 | €172,688 | €156,316 | -€16,371 | -9.5% |
| Intangible fixed assets | 21 | €3,479 | €2,979 | -€500 | -14.4% |
| Tangible fixed assets | 22/27 | €169,208 | €153,337 | -€15,871 | -9.4% |
| Land and buildings | 22 | €2,976 | €2,659 | -€317 | -10.6% |
| Plant, machinery and equipment | 23 | €166,232 | €150,678 | -€15,554 | -9.4% |
| Current assets | 29/58 | €313,199 | €245,600 | -€67,599 | -21.6% |
| Stocks and contracts in progress | 3 | €834 | €5,852 | +€5,019 | +602.0% |
| Stocks | 30/36 | €834 | €5,852 | +€5,019 | +602.0% |
| Amounts receivable within one year | 40/41 | €33,878 | €60,799 | +€26,921 | +79.5% |
| Trade receivables | 40 | - | €473 | +€473 | |
| Other amounts receivable | 41 | €33,878 | €60,326 | +€26,448 | +78.1% |
| Cash at bank and in hand | 54/58 | €273,589 | €172,499 | -€101,090 | -36.9% |
| Deferred charges and accrued income | 490/1 | €4,899 | €6,450 | +€1,551 | +31.7% |
| Total equity and liabilities | 10/49 | €485,886 | €401,917 | -€83,970 | -17.3% |
| Equity | 10/15 | €309,473 | €199,813 | -€109,661 | -35.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €299,473 | €189,813 | -€109,661 | -36.6% |
| Amounts payable | 17/49 | €176,413 | €202,104 | +€25,691 | +14.6% |
| Amounts payable after more than one year | 17 | €66,587 | €48,568 | -€18,019 | -27.1% |
| Financial debts | 170/4 | €66,587 | €48,568 | -€18,019 | -27.1% |
| Amounts payable within one year | 42/48 | €109,826 | €153,536 | +€43,710 | +39.8% |
| Current portion of amounts payable after more than one year | 42 | €37,596 | €27,611 | -€9,985 | -26.6% |
| Financial debts | 43 | €5,000 | - | -€5,000 | |
| Credit institutions | 430/8 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €25,874 | €19,255 | -€6,620 | -25.6% |
| Suppliers | 440/4 | €25,874 | €19,255 | -€6,620 | -25.6% |
| Advances received on contracts in progress | 46 | €3,318 | €3,318 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €38,038 | €32,864 | -€5,174 | -13.6% |
| Taxes | 450/3 | €20,851 | €11,909 | -€8,942 | -42.9% |
| Remuneration and social security | 454/9 | €17,187 | €20,955 | +€3,768 | +21.9% |
| Other amounts payable | 47/48 | - | €70,488 | +€70,488 | |
| Non-recurring operating income | 76A | - | €45,375 | +€45,375 | |
| Remuneration, social security and pensions | 62 | €77,378 | €83,084 | +€5,706 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,374 | €25,091 | +€717 | +2.9% |
| Other operating charges | 640/8 | €7,722 | €16,197 | +€8,475 | +109.7% |
| Non-recurring operating charges | 66A | - | €177,973 | +€177,973 | |
| Gross operating margin | 9900 | €314,817 | €346,745 | +€31,928 | +10.1% |
| Operating profit (loss) | 9901 | €205,343 | €44,400 | -€160,943 | -78.4% |
| Financial income | 75/76B | €15 | €61 | +€46 | +310.2% |
| Recurring financial income | 75 | €15 | €61 | +€46 | +310.2% |
| Financial charges | 65/66B | €5,131 | €3,911 | -€1,220 | -23.8% |
| Recurring financial charges | 65 | €5,131 | €3,911 | -€1,220 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €200,227 | €40,550 | -€159,676 | -79.7% |
| Income taxes | 67/77 | €46,063 | €211 | -€45,852 | -99.5% |
| Profit (loss) for the period | 9904 | €154,163 | €40,339 | -€113,824 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €154,163 | €40,339 | -€113,824 | -73.8% |
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 10 October 2026 via checked.be.