CHEZ M: what changed
CHEZ M
Largest movements
- Cash -€66,819
down €66,819 (-20.9%), from €319,892 to €253,073
mainly Contributions, distributions and other (-€101,310) and Current portion of long-term debt (-€14,814)
- Tangible fixed assets -€31,581
down €31,581 (-22.3%), from €141,850 to €110,270
of which Plant, machinery and equipment: -€22,969
- Receivables within one year -€8,142
down €8,142 (-14.8%), from €55,196 to €47,054
of which Trade receivables: -€20,094
- Stocks and contracts +€5,528
up €5,528 (+19.2%), from €28,726 to €34,254
- Profit (loss) carried forward -€87,825
down €87,825 (-33.5%), from €262,517 to €174,692
- Current portion of long-term debt -€14,814
down €14,814 (-34.9%), from €42,480 to €27,666
- Tax, wage and social debts +€13,399
up €13,399 (+19.0%), from €70,449 to €83,848
of which Remuneration and social security: +€14,539
- Debts after one year -€11,594
down €11,594 (-24.6%), from €47,039 to €35,445
- Gross operating margin -€39,940
down €39,940 (-7.8%), from €513,699 to €473,759
- Staff costs -€20,956
down €20,956 (-4.9%), from €425,078 to €404,123
- Financial charges -€8,500
down €8,500 (-38.4%), from €22,162 to €13,661
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €546,710 | €445,493 | -€101,218 | -18.5% |
| Fixed assets | 21/28 | €142,739 | €110,955 | -€31,784 | -22.3% |
| Intangible fixed assets | 21 | €319 | €115 | -€204 | -63.9% |
| Tangible fixed assets | 22/27 | €141,850 | €110,270 | -€31,581 | -22.3% |
| Plant, machinery and equipment | 23 | €97,547 | €74,578 | -€22,969 | -23.5% |
| Furniture and vehicles | 24 | €39,646 | €32,961 | -€6,685 | -16.9% |
| Other tangible fixed assets | 26 | €4,657 | €2,730 | -€1,927 | -41.4% |
| Financial fixed assets | 28 | €570 | €570 | = | 0.0% |
| Current assets | 29/58 | €403,971 | €334,538 | -€69,433 | -17.2% |
| Stocks and contracts in progress | 3 | €28,726 | €34,254 | +€5,528 | +19.2% |
| Stocks | 30/36 | €28,726 | €34,254 | +€5,528 | +19.2% |
| Amounts receivable within one year | 40/41 | €55,196 | €47,054 | -€8,142 | -14.8% |
| Trade receivables | 40 | €28,703 | €8,609 | -€20,094 | -70.0% |
| Other amounts receivable | 41 | €26,493 | €38,445 | +€11,952 | +45.1% |
| Cash at bank and in hand | 54/58 | €319,892 | €253,073 | -€66,819 | -20.9% |
| Deferred charges and accrued income | 490/1 | €158 | €158 | = | 0.0% |
| Total equity and liabilities | 10/49 | €546,710 | €445,493 | -€101,218 | -18.5% |
| Equity | 10/15 | €362,867 | €275,042 | -€87,825 | -24.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €81,350 | €81,350 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €79,450 | €79,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €262,517 | €174,692 | -€87,825 | -33.5% |
| Amounts payable | 17/49 | €183,844 | €170,451 | -€13,393 | -7.3% |
| Amounts payable after more than one year | 17 | €47,039 | €35,445 | -€11,594 | -24.6% |
| Financial debts | 170/4 | €47,039 | €35,445 | -€11,594 | -24.6% |
| Amounts payable within one year | 42/48 | €136,805 | €135,006 | -€1,799 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €42,480 | €27,666 | -€14,814 | -34.9% |
| Trade debts | 44 | €23,063 | €22,680 | -€384 | -1.7% |
| Suppliers | 440/4 | €23,063 | €22,680 | -€384 | -1.7% |
| Taxes, remuneration and social security | 45 | €70,449 | €83,848 | +€13,399 | +19.0% |
| Taxes | 450/3 | €20,086 | €18,945 | -€1,141 | -5.7% |
| Remuneration and social security | 454/9 | €50,363 | €64,902 | +€14,539 | +28.9% |
| Other amounts payable | 47/48 | €812 | €812 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €425,078 | €404,123 | -€20,956 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,379 | €31,784 | +€1,406 | +4.6% |
| Other operating charges | 640/8 | €2,586 | €2,653 | +€67 | +2.6% |
| Gross operating margin | 9900 | €513,699 | €473,759 | -€39,940 | -7.8% |
| Operating profit (loss) | 9901 | €55,656 | €35,199 | -€20,457 | -36.8% |
| Financial income | 75/76B | €349 | €633 | +€284 | +81.4% |
| Recurring financial income | 75 | €349 | €633 | +€284 | +81.4% |
| Financial charges | 65/66B | €22,162 | €13,661 | -€8,500 | -38.4% |
| Recurring financial charges | 65 | €22,162 | €13,661 | -€8,500 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €33,843 | €22,171 | -€11,673 | -34.5% |
| Income taxes | 67/77 | €10,602 | €8,685 | -€1,917 | -18.1% |
| Profit (loss) for the period | 9904 | €23,241 | €13,485 | -€9,756 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,241 | €13,485 | -€9,756 | -42.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.