Cheval Fatal: what changed
What changed
Cheval Fatal
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€156,948
2024 · €67,966+€88,982
Equity
€1.1m
2024 · €978,486+€155,348
Cash
€47,696
2024 · €23,188+€24,509
Balance sheet total
€2.6m
2024 · €2.6m+€26,983
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€155,348
up €155,348 (+33.8%), from €459,831 to €615,179
of which Distributable reserves: +€155,348
- Debts after one year -€107,891
down €107,891 (-8.1%), from €1.3m to €1.2m
of which Financial debts: -€101,707
- Other debts -€61,639
down €61,639 (-92.0%), from €66,968 to €5,329
- Tax, wage and social debts +€37,364
up €37,364 (+185,338%), from €20 to €37,384
Income statement
- Gross operating margin +€121,164
up €121,164 (+51.1%), from €237,054 to €358,219
- Taxes +€44,842
up €44,842 (+138%), from €32,516 to €77,358
- Financial income +€6,901
up €6,901 (+184%), from €3,761 to €10,662
- Financial charges -€5,381
down €5,381 (-10.4%), from €51,909 to €46,528
- Other operating charges -€4,108
down €4,108 (-76.2%), from €5,393 to €1,286
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€67,966
Gross operating margin
+€121,164
Depreciation
-€3,730
Other operating charges
+€4,108
Financial income
+€6,901
Financial charges
+€5,381
Taxes
-€44,842
Result 2025
€156,948
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€224,646
Investment
-€100,973
Financing
-€99,165
Cash 2024
€23,188
From operations (derived)
+€224,646
Net result for the year
+€156,948
Depreciation
+€86,761
Stocks and contracts
-€4,424
Receivables within one year
+€19,112
Deferred charges and accrued income
-€2,950
Trade debts
+€8,386
Tax, wage and social debts
+€37,364
Advances received
-€2,500
Other debts
-€61,639
Accrued charges and deferred income
-€12,413
Investment (derived)
-€100,973
Investment in fixed assets (net)
-€100,973
Financing
-€99,165
Debts after one year
-€107,891
Current portion of long-term debt
+€10,327
Contributions, distributions and other
-€1,600
Cash 2025
€47,696
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,613,088 | €2,640,070 | +€26,983 | +1.0% |
| Fixed assets | 21/28 | €2,392,259 | €2,406,471 | +€14,212 | +0.6% |
| Tangible fixed assets | 22/27 | €521,259 | €535,471 | +€14,212 | +2.7% |
| Land and buildings | 22 | €439,602 | €399,657 | -€39,946 | -9.1% |
| Plant, machinery and equipment | 23 | €36,007 | €23,903 | -€12,104 | -33.6% |
| Furniture and vehicles | 24 | €45,650 | €20,934 | -€24,716 | -54.1% |
| Leasing and similar rights | 25 | - | €90,978 | +€90,978 | |
| Financial fixed assets | 28 | €1,871,000 | €1,871,000 | = | 0.0% |
| Current assets | 29/58 | €220,829 | €233,599 | +€12,771 | +5.8% |
| Stocks and contracts in progress | 3 | €3,000 | €7,424 | +€4,424 | +147% |
| Stocks | 30/36 | €3,000 | €7,424 | +€4,424 | +147% |
| Amounts receivable within one year | 40/41 | €194,641 | €175,530 | -€19,112 | -9.8% |
| Trade receivables | 40 | €41,707 | €82,445 | +€40,737 | +97.7% |
| Other amounts receivable | 41 | €152,934 | €93,085 | -€59,849 | -39.1% |
| Cash at bank and in hand | 54/58 | €23,188 | €47,696 | +€24,509 | +106% |
| Deferred charges and accrued income | 490/1 | - | €2,950 | +€2,950 | |
| Total equity and liabilities | 10/49 | €2,613,088 | €2,640,070 | +€26,983 | +1.0% |
| Equity | 10/15 | €978,486 | €1,133,834 | +€155,348 | +15.9% |
| Contributions | 10/11 | €518,600 | €518,600 | = | 0.0% |
| Reserves | 13 | €459,831 | €615,179 | +€155,348 | +33.8% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €422,331 | €577,679 | +€155,348 | +36.8% |
| Profit (loss) carried forward | 14 | €55 | €55 | = | 0.0% |
| Amounts payable | 17/49 | €1,634,602 | €1,506,236 | -€128,366 | -7.9% |
| Amounts payable after more than one year | 17 | €1,335,499 | €1,227,608 | -€107,891 | -8.1% |
| Financial debts | 170/4 | €1,327,752 | €1,226,045 | -€101,707 | -7.7% |
| Other amounts payable | 178/9 | €7,747 | €1,563 | -€6,184 | -79.8% |
| Amounts payable within one year | 42/48 | €282,058 | €273,996 | -€8,061 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €188,355 | €198,682 | +€10,327 | +5.5% |
| Trade debts | 44 | €23,964 | €32,351 | +€8,386 | +35.0% |
| Suppliers | 440/4 | €23,964 | €32,351 | +€8,386 | +35.0% |
| Advances received on contracts in progress | 46 | €2,750 | €250 | -€2,500 | -90.9% |
| Taxes, remuneration and social security | 45 | €20 | €37,384 | +€37,364 | +185,338% |
| Taxes | 450/3 | €20 | €37,384 | +€37,364 | +185,338% |
| Other amounts payable | 47/48 | €66,968 | €5,329 | -€61,639 | -92.0% |
| Accrued charges and deferred income | 492/3 | €17,045 | €4,632 | -€12,413 | -72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,030 | €86,761 | +€3,730 | +4.5% |
| Other operating charges | 640/8 | €5,393 | €1,286 | -€4,108 | -76.2% |
| Gross operating margin | 9900 | €237,054 | €358,219 | +€121,164 | +51.1% |
| Operating profit (loss) | 9901 | €148,631 | €270,172 | +€121,542 | +81.8% |
| Financial income | 75/76B | €3,761 | €10,662 | +€6,901 | +184% |
| Recurring financial income | 75 | €3,761 | €10,662 | +€6,901 | +184% |
| Financial charges | 65/66B | €51,909 | €46,528 | -€5,381 | -10.4% |
| Recurring financial charges | 65 | €51,909 | €46,528 | -€5,381 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €100,483 | €234,306 | +€133,824 | +133% |
| Income taxes | 67/77 | €32,516 | €77,358 | +€44,842 | +138% |
| Profit (loss) for the period | 9904 | €67,966 | €156,948 | +€88,982 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €67,966 | €156,948 | +€88,982 | +131% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.