Chevalier: 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.
Chevalier
Largest movements
- Receivables within one year +€15,749
up €15,749 (+6.2%), from €254,705 to €270,454
of which Other amounts receivable: +€14,511
- Cash -€11,201
down €11,201 (-18.4%), from €60,840 to €49,640
mainly Receivables within one year (-€15,749) and Other debts (-€1,928)
- Tangible fixed assets -€7,581
down €7,581 (-83.0%), from €9,131 to €1,550
of which Furniture and vehicles: -€7,417
No liability line moved by more than 1% of the balance sheet total.
- Depreciation -€3,110
down €3,110 (-29.1%), from €10,691 to €7,581
- Financial charges +€1,662
up €1,662 (+1846.3%), from €90 to €1,752
of which Non-recurring financial charges: +€1,662
- Gross operating margin +€482
up €482 (+9.9%), from -€4,881 to -€4,399
- Financial income +€351
up €351 (+2.7%), from €12,786 to €13,137
of which Financial income: +€990
- Write-downs -€226
no longer reported in 2025 (was €226)
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 | €325,088 | €321,926 | -€3,162 | -1.0% |
| Fixed assets | 21/28 | €9,131 | €1,550 | -€7,581 | -83.0% |
| Tangible fixed assets | 22/27 | €9,131 | €1,550 | -€7,581 | -83.0% |
| Furniture and vehicles | 24 | €8,708 | €1,291 | -€7,417 | -85.2% |
| Other tangible fixed assets | 26 | €423 | €259 | -€164 | -38.8% |
| Current assets | 29/58 | €315,957 | €320,376 | +€4,419 | +1.4% |
| Amounts receivable within one year | 40/41 | €254,705 | €270,454 | +€15,749 | +6.2% |
| Trade receivables | 40 | €9,851 | €11,089 | +€1,238 | +12.6% |
| Other amounts receivable | 41 | €244,854 | €259,365 | +€14,511 | +5.9% |
| Cash at bank and in hand | 54/58 | €60,840 | €49,640 | -€11,201 | -18.4% |
| Deferred charges and accrued income | 490/1 | €411 | €282 | -€129 | -31.3% |
| Total equity and liabilities | 10/49 | €325,088 | €321,926 | -€3,162 | -1.0% |
| Equity | 10/15 | €322,887 | €321,721 | -€1,166 | -0.4% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €221,218 | €221,218 | = | 0.0% |
| Distributable reserves | 133 | €221,218 | €221,218 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,880 | €75,714 | -€1,166 | -1.5% |
| Amounts payable | 17/49 | €2,201 | €205 | -€1,996 | -90.7% |
| Amounts payable within one year | 42/48 | €2,201 | €205 | -€1,996 | -90.7% |
| Trade debts | 44 | €75 | - | -€75 | |
| Suppliers | 440/4 | €75 | - | -€75 | |
| Taxes, remuneration and social security | 45 | €198 | €205 | +€8 | +3.8% |
| Taxes | 450/3 | €198 | €205 | +€8 | +3.8% |
| Other amounts payable | 47/48 | €1,928 | - | -€1,928 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,691 | €7,581 | -€3,110 | -29.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €226 | - | -€226 | |
| Other operating charges | 640/8 | €282 | €366 | +€85 | +30.0% |
| Gross operating margin | 9900 | -€4,881 | -€4,399 | +€482 | +9.9% |
| Operating profit (loss) | 9901 | -€16,080 | -€12,347 | +€3,733 | +23.2% |
| Financial income | 75/76B | €12,786 | €13,137 | +€351 | +2.7% |
| Recurring financial income | 75 | €12,147 | €13,137 | +€990 | +8.1% |
| Non-recurring financial income | 76B | €639 | - | -€639 | |
| Financial charges | 65/66B | €90 | €1,752 | +€1,662 | +1846.3% |
| Recurring financial charges | 65 | €90 | €90 | = | 0.0% |
| Non-recurring financial charges | 66B | - | €1,662 | +€1,662 | |
| Profit (loss) for the period before taxes | 9903 | -€3,383 | -€961 | +€2,422 | +71.6% |
| Income taxes | 67/77 | €198 | €205 | +€8 | +3.8% |
| Profit (loss) for the period | 9904 | -€3,581 | -€1,166 | +€2,415 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,581 | -€1,166 | +€2,415 | +67.4% |
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 5 October 2026 via checked.be.