CHEVAL BLANC: 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.
CHEVAL BLANC
Largest movements
- Cash +€10,130
up €10,130 (+11.8%), from €86,107 to €96,237
mainly Net result for the year (+€7,591) and Tax, wage and social debts (+€3,462)
- Tangible fixed assets -€1,813
down €1,813 (-2.2%), from €82,412 to €80,599
of which Land and buildings: -€1,550
- Tax, wage and social debts +€3,462
up €3,462 (+576%), from €601 to €4,064
- Profit (loss) carried forward +€3,257
up €3,257 (+3.8%), from €85,218 to €88,475
- Gross operating margin -€4,064
down €4,064 (-20.5%), from €19,799 to €15,734
- Taxes -€838
down €838 (-23.3%), from €3,601 to €2,763
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,030 | €177,358 | +€8,327 | +4.9% |
| Fixed assets | 21/28 | €82,462 | €80,649 | -€1,813 | -2.2% |
| Tangible fixed assets | 22/27 | €82,412 | €80,599 | -€1,813 | -2.2% |
| Land and buildings | 22 | €79,904 | €78,354 | -€1,550 | -1.9% |
| Plant, machinery and equipment | 23 | €2,508 | €2,246 | -€263 | -10.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €86,568 | €96,709 | +€10,141 | +11.7% |
| Amounts receivable within one year | 40/41 | €40 | €40 | = | 0.0% |
| Other amounts receivable | 41 | €40 | €40 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €86,107 | €96,237 | +€10,130 | +11.8% |
| Deferred charges and accrued income | 490/1 | €421 | €432 | +€11 | +2.6% |
| Total equity and liabilities | 10/49 | €169,030 | €177,358 | +€8,327 | +4.9% |
| Equity | 10/15 | €144,311 | €147,594 | +€3,282 | +2.3% |
| Contributions | 10/11 | €53,694 | €53,719 | +€25 | 0.0% |
| Contributions outside capital | 11 | €53,694 | €53,719 | +€25 | 0.0% |
| Other | 1109/19 | €53,694 | €53,719 | +€25 | 0.0% |
| Reserves | 13 | €5,400 | €5,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,400 | €5,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,400 | €5,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,218 | €88,475 | +€3,257 | +3.8% |
| Provisions and deferred taxes | 16 | €12,000 | €12,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €12,000 | €12,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €12,000 | €12,000 | = | 0.0% |
| Amounts payable | 17/49 | €12,719 | €17,764 | +€5,045 | +39.7% |
| Amounts payable within one year | 42/48 | €3,725 | €8,657 | +€4,932 | +132% |
| Taxes, remuneration and social security | 45 | €601 | €4,064 | +€3,462 | +576% |
| Taxes | 450/3 | €601 | €4,064 | +€3,462 | +576% |
| Other amounts payable | 47/48 | €3,124 | €4,594 | +€1,470 | +47.1% |
| Accrued charges and deferred income | 492/3 | €8,994 | €9,106 | +€112 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,813 | €1,813 | = | 0.0% |
| Other operating charges | 640/8 | €3,624 | €3,521 | -€103 | -2.8% |
| Gross operating margin | 9900 | €19,799 | €15,734 | -€4,064 | -20.5% |
| Operating profit (loss) | 9901 | €14,361 | €10,400 | -€3,962 | -27.6% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €14,316 | €10,355 | -€3,962 | -27.7% |
| Income taxes | 67/77 | €3,601 | €2,763 | -€838 | -23.3% |
| Profit (loss) for the period | 9904 | €10,715 | €7,591 | -€3,124 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,715 | €7,591 | -€3,124 | -29.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.