Cheong Kee: 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.
Cheong Kee
Largest movements
- Tangible fixed assets +€312,112
up €312,112 (+2,996%), from €10,416 to €322,529
of which Land and buildings: +€312,863
- Cash -€82,733
down €82,733 (-42.3%), from €195,426 to €112,693
mainly Investment in fixed assets (net) (-€317,608) and Receivables within one year (-€8,420)
- Receivables within one year +€8,420
up €8,420 (+6,081%), from €138 to €8,558
- Debts after one year +€117,010
new in 2025: €117,010
- Reserves +€93,500
up €93,500 (+53.3%), from €175,360 to €268,860
of which Distributable reserves: +€93,500
- Current portion of long-term debt +€28,351
new in 2025: €28,351
- Tax, wage and social debts +€4,947
new in 2025: €4,947
- Staff costs -€102,154
no longer reported in 2025 (was €102,154)
- Gross operating margin -€89,440
down €89,440 (-38.6%), from €231,583 to €142,143
- Depreciation +€3,434
up €3,434 (+166%), from €2,062 to €5,496
- Taxes -€2,783
down €2,783 (-7.0%), from €39,884 to €37,102
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.
Derived cash bridge
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 | €214,355 | €452,941 | +€238,586 | +111% |
| Fixed assets | 21/28 | €10,416 | €322,529 | +€312,112 | +2,996% |
| Tangible fixed assets | 22/27 | €10,416 | €322,529 | +€312,112 | +2,996% |
| Land and buildings | 22 | - | €312,863 | +€312,863 | |
| Plant, machinery and equipment | 23 | €1,617 | €1,871 | +€254 | +15.7% |
| Other tangible fixed assets | 26 | €8,799 | €7,795 | -€1,005 | -11.4% |
| Current assets | 29/58 | €203,939 | €130,412 | -€73,527 | -36.1% |
| Stocks and contracts in progress | 3 | €7,250 | €7,399 | +€149 | +2.0% |
| Stocks | 30/36 | €7,250 | €7,399 | +€149 | +2.0% |
| Amounts receivable within one year | 40/41 | €138 | €8,558 | +€8,420 | +6,081% |
| Other amounts receivable | 41 | €138 | €8,558 | +€8,420 | +6,081% |
| Cash at bank and in hand | 54/58 | €195,426 | €112,693 | -€82,733 | -42.3% |
| Deferred charges and accrued income | 490/1 | €1,124 | €1,762 | +€639 | +56.8% |
| Total equity and liabilities | 10/49 | €214,355 | €452,941 | +€238,586 | +111% |
| Equity | 10/15 | €194,644 | €288,439 | +€93,795 | +48.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,360 | €268,860 | +€93,500 | +53.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €173,500 | €267,000 | +€93,500 | +53.9% |
| Profit (loss) carried forward | 14 | €684 | €979 | +€295 | +43.1% |
| Amounts payable | 17/49 | €19,711 | €164,501 | +€144,790 | +735% |
| Amounts payable after more than one year | 17 | - | €117,010 | +€117,010 | |
| Financial debts | 170/4 | - | €117,010 | +€117,010 | |
| Amounts payable within one year | 42/48 | €19,711 | €47,492 | +€27,781 | +141% |
| Current portion of amounts payable after more than one year | 42 | - | €28,351 | +€28,351 | |
| Trade debts | 44 | €9,067 | €7,837 | -€1,230 | -13.6% |
| Suppliers | 440/4 | €9,067 | €7,837 | -€1,230 | -13.6% |
| Taxes, remuneration and social security | 45 | - | €4,947 | +€4,947 | |
| Remuneration and social security | 454/9 | - | €4,947 | +€4,947 | |
| Other amounts payable | 47/48 | €10,644 | €6,357 | -€4,287 | -40.3% |
| Remuneration, social security and pensions | 62 | €102,154 | - | -€102,154 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,062 | €5,496 | +€3,434 | +166% |
| Other operating charges | 640/8 | €889 | €2,652 | +€1,762 | +198% |
| Gross operating margin | 9900 | €231,583 | €142,143 | -€89,440 | -38.6% |
| Operating profit (loss) | 9901 | €126,478 | €133,995 | +€7,517 | +5.9% |
| Financial income | 75/76B | - | €99 | +€99 | |
| Recurring financial income | 75 | - | €99 | +€99 | |
| Financial charges | 65/66B | €1,765 | €3,197 | +€1,432 | +81.1% |
| Recurring financial charges | 65 | €1,765 | €3,197 | +€1,432 | +81.1% |
| Profit (loss) for the period before taxes | 9903 | €124,713 | €130,897 | +€6,184 | +5.0% |
| Income taxes | 67/77 | €39,884 | €37,102 | -€2,783 | -7.0% |
| Profit (loss) for the period | 9904 | €84,829 | €93,795 | +€8,966 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €84,829 | €93,795 | +€8,966 | +10.6% |
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 28 October 2026 via checked.be.