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
- Cash +€19,791
up €19,791 (+38.9%), from €50,851 to €70,642
mainly Net result for the year (+€12,892) and Trade debts (+€8,167)
- Receivables within one year +€10,745
up €10,745 (+234.6%), from €4,581 to €15,325
of which Trade receivables: +€7,716
- Tangible fixed assets -€2,636
down €2,636 (-33.9%), from €7,774 to €5,139
of which Furniture and vehicles: -€1,652
- Reserves +€12,800
up €12,800 (+39.4%), from €32,500 to €45,300
- Trade debts +€8,167
up €8,167 (+606.6%), from €1,346 to €9,513
- Tax, wage and social debts +€4,575
up €4,575 (+494.7%), from €925 to €5,500
- Other debts +€2,227
up €2,227 (+25.5%), from €8,746 to €10,973
- Gross operating margin +€10,790
up €10,790 (+67.7%), from €15,935 to €26,725
- Taxes +€6,280
up €6,280 (+697.8%), from €900 to €7,180
- Other operating charges +€577
up €577 (+72.8%), from €792 to €1,368
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 | €63,543 | €91,403 | +€27,861 | +43.8% |
| Fixed assets | 21/28 | €7,774 | €5,139 | -€2,636 | -33.9% |
| Tangible fixed assets | 22/27 | €7,774 | €5,139 | -€2,636 | -33.9% |
| Plant, machinery and equipment | 23 | €5,248 | €4,265 | -€983 | -18.7% |
| Furniture and vehicles | 24 | €2,526 | €874 | -€1,652 | -65.4% |
| Current assets | 29/58 | €55,769 | €86,265 | +€30,496 | +54.7% |
| Amounts receivable within one year | 40/41 | €4,581 | €15,325 | +€10,745 | +234.6% |
| Trade receivables | 40 | €2,981 | €10,697 | +€7,716 | +258.9% |
| Other amounts receivable | 41 | €1,600 | €4,628 | +€3,028 | +189.3% |
| Cash at bank and in hand | 54/58 | €50,851 | €70,642 | +€19,791 | +38.9% |
| Deferred charges and accrued income | 490/1 | €337 | €298 | -€39 | -11.7% |
| Total equity and liabilities | 10/49 | €63,543 | €91,403 | +€27,861 | +43.8% |
| Equity | 10/15 | €52,526 | €65,418 | +€12,892 | +24.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €32,500 | €45,300 | +€12,800 | +39.4% |
| Distributable reserves | 133 | €32,500 | €45,300 | +€12,800 | +39.4% |
| Profit (loss) carried forward | 14 | €26 | €118 | +€92 | +361.0% |
| Amounts payable | 17/49 | €11,017 | €25,986 | +€14,968 | +135.9% |
| Amounts payable within one year | 42/48 | €11,017 | €25,986 | +€14,968 | +135.9% |
| Trade debts | 44 | €1,346 | €9,513 | +€8,167 | +606.6% |
| Suppliers | 440/4 | €1,346 | €9,513 | +€8,167 | +606.6% |
| Taxes, remuneration and social security | 45 | €925 | €5,500 | +€4,575 | +494.7% |
| Taxes | 450/3 | €925 | €5,500 | +€4,575 | +494.7% |
| Other amounts payable | 47/48 | €8,746 | €10,973 | +€2,227 | +25.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,122 | €5,237 | +€115 | +2.2% |
| Other operating charges | 640/8 | €792 | €1,368 | +€577 | +72.8% |
| Gross operating margin | 9900 | €15,935 | €26,725 | +€10,790 | +67.7% |
| Operating profit (loss) | 9901 | €10,022 | €20,120 | +€10,098 | +100.8% |
| Financial charges | 65/66B | €45 | €48 | +€3 | +7.1% |
| Recurring financial charges | 65 | €45 | €48 | +€3 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €9,977 | €20,072 | +€10,095 | +101.2% |
| Income taxes | 67/77 | €900 | €7,180 | +€6,280 | +697.8% |
| Profit (loss) for the period | 9904 | €9,077 | €12,892 | +€3,815 | +42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,077 | €12,892 | +€3,815 | +42.0% |
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 6 October 2026 via checked.be.