CHENE: 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.
CHENE
Largest movements
- Current investments -€530,000
down €530,000 (-81.5%), from €650,000 to €120,000
- Tangible fixed assets -€17,492
down €17,492 (-7.4%), from €234,945 to €217,453
- Cash +€9,732
up €9,732 (+32.8%), from €29,664 to €39,396
mainly Current investments (+€530,000) and Net result for the year (+€57,187)
- Other debts -€600,000
no longer reported in 2025 (was €600,000)
- Reserves +€57,187
up €57,187 (+22.0%), from €259,969 to €317,156
of which Distributable reserves: +€57,187
- Gross operating margin +€17,369
up €17,369 (+23.0%), from €75,550 to €92,919
- Financial income -€10,472
down €10,472 (-52.3%), from €20,038 to €9,566
- Taxes +€1,911
up €1,911 (+11.1%), from €17,151 to €19,062
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 | €921,469 | €378,656 | -€542,813 | -58.9% |
| Fixed assets | 21/28 | €234,945 | €217,453 | -€17,492 | -7.4% |
| Tangible fixed assets | 22/27 | €234,945 | €217,453 | -€17,492 | -7.4% |
| Land and buildings | 22 | €234,945 | €217,453 | -€17,492 | -7.4% |
| Current assets | 29/58 | €686,524 | €161,203 | -€525,321 | -76.5% |
| Amounts receivable within one year | 40/41 | €6,860 | €1,808 | -€5,053 | -73.7% |
| Other amounts receivable | 41 | €6,860 | €1,808 | -€5,053 | -73.7% |
| Current investments | 50/53 | €650,000 | €120,000 | -€530,000 | -81.5% |
| Cash at bank and in hand | 54/58 | €29,664 | €39,396 | +€9,732 | +32.8% |
| Total equity and liabilities | 10/49 | €921,469 | €378,656 | -€542,813 | -58.9% |
| Equity | 10/15 | €321,469 | €378,656 | +€57,187 | +17.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €259,969 | €317,156 | +€57,187 | +22.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €253,819 | €311,006 | +€57,187 | +22.5% |
| Amounts payable | 17/49 | €600,000 | - | -€600,000 | |
| Amounts payable within one year | 42/48 | €600,000 | - | -€600,000 | |
| Other amounts payable | 47/48 | €600,000 | - | -€600,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,076 | €17,492 | +€417 | +2.4% |
| Other operating charges | 640/8 | €7,757 | €8,592 | +€836 | +10.8% |
| Gross operating margin | 9900 | €75,550 | €92,919 | +€17,369 | +23.0% |
| Operating profit (loss) | 9901 | €50,718 | €66,834 | +€16,116 | +31.8% |
| Financial income | 75/76B | €20,038 | €9,566 | -€10,472 | -52.3% |
| Recurring financial income | 75 | €20,038 | €9,566 | -€10,472 | -52.3% |
| Financial charges | 65/66B | €108 | €151 | +€43 | +39.9% |
| Recurring financial charges | 65 | €108 | €151 | +€43 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €70,648 | €76,249 | +€5,601 | +7.9% |
| Income taxes | 67/77 | €17,151 | €19,062 | +€1,911 | +11.1% |
| Profit (loss) for the period | 9904 | €53,497 | €57,187 | +€3,690 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,497 | €57,187 | +€3,690 | +6.9% |
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 5 October 2026 via checked.be.