CHEOPS: 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.
CHEOPS
Largest movements
- Tangible fixed assets -€11,447
down €11,447 (-3.0%), from €377,668 to €366,220
of which Land and buildings: -€10,591
- Profit (loss) carried forward -€9,487
down €9,487 (-41.0%), from €23,145 to €13,658
- Gross operating margin +€13,983
up €13,983, from -€9,810 to €4,172
- Financial charges -€3,866
down €3,866 (-98.5%), from €3,925 to €59
of which Non-recurring financial charges: -€3,836
- Other operating charges +€1,584
up €1,584 (+278.0%), from €570 to €2,154
- Depreciation +€1,111
up €1,111 (+10.7%), from €10,336 to €11,447
- Taxes +€140
no longer reported in 2025 (was -€140)
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 | €389,203 | €378,040 | -€11,163 | -2.9% |
| Fixed assets | 21/28 | €380,321 | €368,874 | -€11,447 | -3.0% |
| Tangible fixed assets | 22/27 | €377,668 | €366,220 | -€11,447 | -3.0% |
| Land and buildings | 22 | €373,914 | €363,323 | -€10,591 | -2.8% |
| Plant, machinery and equipment | 23 | €3,321 | €2,897 | -€424 | -12.8% |
| Furniture and vehicles | 24 | €433 | - | -€433 | |
| Financial fixed assets | 28 | €2,654 | €2,654 | = | 0.0% |
| Current assets | 29/58 | €8,882 | €9,166 | +€284 | +3.2% |
| Amounts receivable within one year | 40/41 | €4,000 | €4,483 | +€483 | +12.1% |
| Trade receivables | 40 | - | €1,983 | +€1,983 | |
| Other amounts receivable | 41 | €4,000 | €2,500 | -€1,500 | -37.5% |
| Cash at bank and in hand | 54/58 | €4,882 | €4,683 | -€199 | -4.1% |
| Total equity and liabilities | 10/49 | €389,203 | €378,040 | -€11,163 | -2.9% |
| Equity | 10/15 | €257,652 | €248,165 | -€9,487 | -3.7% |
| Contributions | 10/11 | €213,188 | €213,188 | = | 0.0% |
| Capital | 10 | €213,188 | €213,188 | = | 0.0% |
| Issued capital | 100 | €213,188 | €213,188 | = | 0.0% |
| Reserves | 13 | €21,319 | €21,319 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,319 | €21,319 | = | 0.0% |
| Legal reserve | 130 | €21,319 | €21,319 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,145 | €13,658 | -€9,487 | -41.0% |
| Amounts payable | 17/49 | €131,551 | €129,875 | -€1,676 | -1.3% |
| Amounts payable after more than one year | 17 | €44,500 | €44,500 | = | 0.0% |
| Financial debts | 170/4 | €44,500 | €44,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €86,664 | €84,912 | -€1,752 | -2.0% |
| Other amounts payable | 47/48 | €86,664 | €84,912 | -€1,752 | -2.0% |
| Accrued charges and deferred income | 492/3 | €387 | €464 | +€76 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,336 | €11,447 | +€1,111 | +10.7% |
| Other operating charges | 640/8 | €570 | €2,154 | +€1,584 | +278.0% |
| Gross operating margin | 9900 | -€9,810 | €4,172 | +€13,983 | |
| Operating profit (loss) | 9901 | -€20,717 | -€9,429 | +€11,288 | +54.5% |
| Financial charges | 65/66B | €3,925 | €59 | -€3,866 | -98.5% |
| Recurring financial charges | 65 | €89 | €59 | -€30 | -34.1% |
| Non-recurring financial charges | 66B | €3,836 | - | -€3,836 | |
| Profit (loss) for the period before taxes | 9903 | -€24,641 | -€9,487 | +€15,154 | +61.5% |
| Income taxes | 67/77 | -€140 | - | +€140 | |
| Profit (loss) for the period | 9904 | -€24,501 | -€9,487 | +€15,014 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,501 | -€9,487 | +€15,014 | +61.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.