Chez Blanche: 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.
What changed
Chez Blanche
NACE 10.712, Artisanal bread and fresh pastry making
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.3m
2024 · -€539,659-€740,697
Equity
-€1.2m
2024 · -€89,120-€1.1m
Cash
€306,460
2024 · €330,815-€24,355
Balance sheet total
€4.5m
2024 · €5.1m-€593,377
Largest movements
Assets
- Receivables within one year -€558,717
down €558,717 (-74.5%), from €749,679 to €190,962
of which Trade receivables: -€400,950
- Intangible fixed assets +€342,400
up €342,400 (+49.3%), from €694,801 to €1.0m
- Stocks and contracts -€180,457
down €180,457 (-17.6%), from €1.0m to €844,280
- Tangible fixed assets -€168,803
down €168,803 (-7.8%), from €2.2m to €2.0m
of which Plant, machinery and equipment: -€203,964
Equity and liabilities
- Profit (loss) carried forward -€1.3m
down €1.3m (-148%), from -€863,150 to -€2.1m
- Short-term financial debts +€357,880
up €357,880 (+79.8%), from €448,503 to €806,383
- Tax, wage and social debts +€340,809
up €340,809 (+35.1%), from €971,948 to €1.3m
of which Remuneration and social security: +€353,731
- Other debts -€150,137
down €150,137 (-100%), from €150,137 to €0
- Contributions +€150,000
up €150,000 (+20.9%), from €718,600 to €868,600
Income statement
- Gross operating margin -€480,566
down €480,566 (-11.6%), from €4.1m to €3.7m
- Depreciation +€104,798
up €104,798 (+20.5%), from €511,951 to €616,749
- Staff costs +€62,957
up €62,957 (+1.6%), from €4.0m to €4.1m
- Financial charges +€55,964
up €55,964 (+30.6%), from €183,146 to €239,110
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.
Result 2024
-€539,659
Gross operating margin
-€480,566
Staff costs
-€62,957
Depreciation
-€104,798
Write-downs
+€3,413
Other operating charges
-€25,219
Financial income
-€14,478
Financial charges
-€55,964
Taxes
-€128
Result 2025
-€1.3m
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€247,695
Investment
-€792,978
Financing
+€520,928
Cash 2024
€330,815
From operations (derived)
+€247,695
Net result for the year
-€1.3m
Depreciation
+€616,749
Stocks and contracts
+€180,457
Receivables within one year
+€558,717
Deferred charges and accrued income
+€6,078
Trade debts
-€40,594
Tax, wage and social debts
+€340,809
Advances received
+€4,990
Other debts
-€150,137
Accrued charges and deferred income
+€10,984
Investment (derived)
-€792,978
Investment in fixed assets (net)
-€792,978
Financing
+€520,928
Debts after one year
+€20,375
Current portion of long-term debt
+€9,395
Short-term financial debts
+€357,880
Contributions, distributions and other
+€133,278
Cash 2025
€306,460
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,137,089 | €4,543,712 | -€593,377 | -11.6% |
| Formation expenses | 20 | €37,270 | €24,330 | -€12,940 | -34.7% |
| Fixed assets | 21/28 | €2,891,404 | €3,080,574 | +€189,170 | +6.5% |
| Intangible fixed assets | 21 | €694,801 | €1,037,201 | +€342,400 | +49.3% |
| Tangible fixed assets | 22/27 | €2,174,270 | €2,005,467 | -€168,803 | -7.8% |
| Plant, machinery and equipment | 23 | €640,285 | €436,321 | -€203,964 | -31.9% |
| Furniture and vehicles | 24 | €25,717 | €18,651 | -€7,065 | -27.5% |
| Leasing and similar rights | 25 | €414,823 | €396,696 | -€18,126 | -4.4% |
| Other tangible fixed assets | 26 | €1,093,446 | €1,153,799 | +€60,353 | +5.5% |
| Financial fixed assets | 28 | €22,333 | €37,906 | +€15,573 | +69.7% |
| Current assets | 29/58 | €2,208,415 | €1,438,809 | -€769,606 | -34.8% |
| Stocks and contracts in progress | 3 | €1,024,737 | €844,280 | -€180,457 | -17.6% |
| Stocks | 30/36 | €1,024,737 | €844,280 | -€180,457 | -17.6% |
| Amounts receivable within one year | 40/41 | €749,679 | €190,962 | -€558,717 | -74.5% |
| Trade receivables | 40 | €466,858 | €65,908 | -€400,950 | -85.9% |
| Other amounts receivable | 41 | €282,820 | €125,054 | -€157,766 | -55.8% |
| Cash at bank and in hand | 54/58 | €330,815 | €306,460 | -€24,355 | -7.4% |
| Deferred charges and accrued income | 490/1 | €103,184 | €97,106 | -€6,078 | -5.9% |
| Total equity and liabilities | 10/49 | €5,137,089 | €4,543,712 | -€593,377 | -11.6% |
| Equity | 10/15 | -€89,120 | -€1,236,197 | -€1.1m | -1,287% |
| Contributions | 10/11 | €718,600 | €868,600 | +€150,000 | +20.9% |
| Capital | 10 | €718,600 | €868,600 | +€150,000 | +20.9% |
| Issued capital | 100 | €718,600 | €868,600 | +€150,000 | +20.9% |
| Profit (loss) carried forward | 14 | -€863,150 | -€2,143,505 | -€1.3m | -148% |
| Investment grants | 15 | €55,430 | €38,709 | -€16,722 | -30.2% |
| Amounts payable | 17/49 | €5,226,209 | €5,779,909 | +€553,700 | +10.6% |
| Amounts payable after more than one year | 17 | €2,018,196 | €2,038,571 | +€20,375 | +1.0% |
| Financial debts | 170/4 | €1,993,196 | €1,863,571 | -€129,625 | -6.5% |
| Other amounts payable | 178/9 | €25,000 | €175,000 | +€150,000 | +600% |
| Amounts payable within one year | 42/48 | €3,149,895 | €3,672,236 | +€522,341 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €502,334 | €511,728 | +€9,395 | +1.9% |
| Financial debts | 43 | €448,503 | €806,383 | +€357,880 | +79.8% |
| Credit institutions | 430/8 | €448,503 | €806,383 | +€357,880 | +79.8% |
| Trade debts | 44 | €1,076,973 | €1,036,379 | -€40,594 | -3.8% |
| Suppliers | 440/4 | €1,076,973 | €1,036,379 | -€40,594 | -3.8% |
| Advances received on contracts in progress | 46 | - | €4,990 | +€4,990 | |
| Taxes, remuneration and social security | 45 | €971,948 | €1,312,757 | +€340,809 | +35.1% |
| Taxes | 450/3 | €174,796 | €161,874 | -€12,922 | -7.4% |
| Remuneration and social security | 454/9 | €797,151 | €1,150,882 | +€353,731 | +44.4% |
| Other amounts payable | 47/48 | €150,137 | €0 | -€150,137 | -100% |
| Accrued charges and deferred income | 492/3 | €58,118 | €69,101 | +€10,984 | +18.9% |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €4,000,364 | €4,063,320 | +€62,957 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €511,951 | €616,749 | +€104,798 | +20.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,672 | €2,258 | -€3,413 | -60.2% |
| Other operating charges | 640/8 | €12,407 | €37,625 | +€25,219 | +203% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €4,141,423 | €3,660,857 | -€480,566 | -11.6% |
| Operating profit (loss) | 9901 | -€388,970 | -€1,059,096 | -€670,126 | -172% |
| Financial income | 75/76B | €33,867 | €19,389 | -€14,478 | -42.8% |
| Recurring financial income | 75 | €33,867 | €19,389 | -€14,478 | -42.8% |
| Financial charges | 65/66B | €183,146 | €239,110 | +€55,964 | +30.6% |
| Recurring financial charges | 65 | €183,146 | €239,110 | +€55,964 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | -€538,249 | -€1,278,817 | -€740,569 | -138% |
| Income taxes | 67/77 | €1,410 | €1,538 | +€128 | +9.1% |
| Profit (loss) for the period | 9904 | -€539,659 | -€1,280,355 | -€740,697 | -137% |
| Profit (loss) for the period to be appropriated | 9905 | -€539,659 | -€1,280,355 | -€740,697 | -137% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.