CHEVAL.BF: 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.
CHEVAL.BF
Largest movements
- Cash -€19,612
down €19,612 (-36.4%), from €53,855 to €34,243
mainly Trade debts (-€46,375) and Investment in fixed assets (net) (-€20,885)
- Financial fixed assets +€16,700
up €16,700 (+280.7%), from €5,950 to €22,650
- Stocks and contracts -€12,773
down €12,773 (-14.4%), from €88,683 to €75,910
- Tangible fixed assets -€10,562
down €10,562 (-26.2%), from €40,275 to €29,713
- Receivables within one year -€4,437
down €4,437 (-7.5%), from €58,812 to €54,375
of which Trade receivables: -€6,782
- Trade debts -€46,375
down €46,375 (-46.4%), from €100,036 to €53,662
- Profit (loss) carried forward +€23,565
up €23,565 (+50.6%), from €46,599 to €70,164
- Other debts -€13,265
down €13,265 (-66.3%), from €20,000 to €6,735
- Tax, wage and social debts +€6,171
up €6,171 (+38.7%), from €15,952 to €22,123
- Gross operating margin -€43,064
down €43,064 (-17.9%), from €240,304 to €197,239
- Staff costs -€27,405
down €27,405 (-16.3%), from €168,013 to €140,608
- Other operating charges +€3,314
up €3,314 (+36.7%), from €9,028 to €12,343
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 | €256,074 | €225,902 | -€30,172 | -11.8% |
| Fixed assets | 21/28 | €46,225 | €52,363 | +€6,138 | +13.3% |
| Tangible fixed assets | 22/27 | €40,275 | €29,713 | -€10,562 | -26.2% |
| Other tangible fixed assets | 26 | €40,275 | €29,713 | -€10,562 | -26.2% |
| Financial fixed assets | 28 | €5,950 | €22,650 | +€16,700 | +280.7% |
| Current assets | 29/58 | €209,849 | €173,539 | -€36,309 | -17.3% |
| Stocks and contracts in progress | 3 | €88,683 | €75,910 | -€12,773 | -14.4% |
| Stocks | 30/36 | €88,683 | €75,910 | -€12,773 | -14.4% |
| Amounts receivable within one year | 40/41 | €58,812 | €54,375 | -€4,437 | -7.5% |
| Trade receivables | 40 | €54,953 | €48,171 | -€6,782 | -12.3% |
| Other amounts receivable | 41 | €3,859 | €6,204 | +€2,345 | +60.8% |
| Cash at bank and in hand | 54/58 | €53,855 | €34,243 | -€19,612 | -36.4% |
| Deferred charges and accrued income | 490/1 | €8,499 | €9,011 | +€512 | +6.0% |
| Total equity and liabilities | 10/49 | €256,074 | €225,902 | -€30,172 | -11.8% |
| Equity | 10/15 | €113,345 | €136,910 | +€23,565 | +20.8% |
| Contributions | 10/11 | €19,333 | €19,333 | = | 0.0% |
| Reserves | 13 | €47,412 | €47,412 | = | 0.0% |
| Distributable reserves | 133 | €47,412 | €47,412 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,599 | €70,164 | +€23,565 | +50.6% |
| Amounts payable | 17/49 | €142,730 | €88,993 | -€53,737 | -37.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €142,730 | €88,993 | -€53,737 | -37.6% |
| Trade debts | 44 | €100,036 | €53,662 | -€46,375 | -46.4% |
| Suppliers | 440/4 | €100,036 | €53,662 | -€46,375 | -46.4% |
| Advances received on contracts in progress | 46 | €6,741 | €6,473 | -€268 | -4.0% |
| Taxes, remuneration and social security | 45 | €15,952 | €22,123 | +€6,171 | +38.7% |
| Taxes | 450/3 | €15,952 | €22,123 | +€6,171 | +38.7% |
| Other amounts payable | 47/48 | €20,000 | €6,735 | -€13,265 | -66.3% |
| Remuneration, social security and pensions | 62 | €168,013 | €140,608 | -€27,405 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,772 | €14,748 | +€976 | +7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,595 | €5,841 | +€2,246 | +62.5% |
| Other operating charges | 640/8 | €9,028 | €12,343 | +€3,314 | +36.7% |
| Gross operating margin | 9900 | €240,304 | €197,239 | -€43,064 | -17.9% |
| Operating profit (loss) | 9901 | €45,895 | €23,701 | -€22,194 | -48.4% |
| Financial charges | 65/66B | €209 | €136 | -€74 | -35.2% |
| Recurring financial charges | 65 | €209 | €136 | -€74 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €45,686 | €23,565 | -€22,121 | -48.4% |
| Income taxes | 67/77 | -€8 | €0 | +€8 | |
| Profit (loss) for the period | 9904 | €45,693 | €23,565 | -€22,128 | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,693 | €23,565 | -€22,128 | -48.4% |
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 4 October 2026 via checked.be.