CHIBEAU MANAGEMENT: 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.
CHIBEAU MANAGEMENT
Largest movements
- Financial fixed assets +€68,035
up €68,035 (+12.4%), from €549,192 to €617,226
- Current investments +€45,000
up €45,000 (+69.2%), from €65,000 to €110,000
- Cash -€23,238
down €23,238 (-51.2%), from €45,424 to €22,186
mainly Contributions, distributions and other (-€123,595) and Investment in fixed assets (net) (-€68,035)
- Tangible fixed assets -€11,419
down €11,419 (-24.6%), from €46,439 to €35,021
of which Furniture and vehicles: -€10,052
- Reserves +€48,152
up €48,152 (+11.8%), from €407,209 to €455,362
of which Distributable reserves: +€48,152
- Other debts +€31,245
up €31,245 (+12.0%), from €260,576 to €291,821
- Gross operating margin +€212,630
up €212,630 (+122%), from €174,385 to €387,015
- Taxes +€59,983
up €59,983 (+162%), from €37,078 to €97,061
- Financial charges +€40,336
up €40,336 (+199%), from €20,252 to €60,588
- Financial income -€23,410
down €23,410 (-92.4%), from €25,345 to €1,935
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €710,174 | €790,982 | +€80,808 | +11.4% |
| Fixed assets | 21/28 | €595,631 | €652,247 | +€56,616 | +9.5% |
| Tangible fixed assets | 22/27 | €46,439 | €35,021 | -€11,419 | -24.6% |
| Furniture and vehicles | 24 | €40,857 | €30,805 | -€10,052 | -24.6% |
| Other tangible fixed assets | 26 | €5,582 | €4,216 | -€1,366 | -24.5% |
| Financial fixed assets | 28 | €549,192 | €617,226 | +€68,035 | +12.4% |
| Current assets | 29/58 | €114,544 | €138,735 | +€24,192 | +21.1% |
| Amounts receivable within one year | 40/41 | €2,381 | €4,819 | +€2,438 | +102% |
| Other amounts receivable | 41 | €2,381 | €4,819 | +€2,438 | +102% |
| Current investments | 50/53 | €65,000 | €110,000 | +€45,000 | +69.2% |
| Cash at bank and in hand | 54/58 | €45,424 | €22,186 | -€23,238 | -51.2% |
| Deferred charges and accrued income | 490/1 | €1,738 | €1,729 | -€9 | -0.5% |
| Total equity and liabilities | 10/49 | €710,174 | €790,982 | +€80,808 | +11.4% |
| Equity | 10/15 | €427,209 | €475,362 | +€48,152 | +11.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €407,209 | €455,362 | +€48,152 | +11.8% |
| Non-distributable reserves | 130/1 | €9,020 | €9,020 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,020 | €9,020 | = | 0.0% |
| Distributable reserves | 133 | €398,189 | €446,342 | +€48,152 | +12.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €282,965 | €315,620 | +€32,655 | +11.5% |
| Amounts payable within one year | 42/48 | €282,965 | €315,620 | +€32,655 | +11.5% |
| Financial debts | 43 | €12 | €1,116 | +€1,104 | +9,209% |
| Credit institutions | 430/8 | €12 | €1,116 | +€1,104 | +9,209% |
| Trade debts | 44 | €788 | €879 | +€91 | +11.5% |
| Suppliers | 440/4 | €788 | €879 | +€91 | +11.5% |
| Taxes, remuneration and social security | 45 | €21,590 | €21,804 | +€215 | +1.0% |
| Taxes | 450/3 | €10,914 | €12,232 | +€1,318 | +12.1% |
| Remuneration and social security | 454/9 | €10,676 | €9,573 | -€1,103 | -10.3% |
| Other amounts payable | 47/48 | €260,576 | €291,821 | +€31,245 | +12.0% |
| Remuneration, social security and pensions | 62 | €45,356 | €47,395 | +€2,039 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,247 | €11,419 | +€172 | +1.5% |
| Other operating charges | 640/8 | €505 | €741 | +€236 | +46.7% |
| Non-recurring operating charges | 66A | €11,766 | €0 | -€11,766 | -100% |
| Gross operating margin | 9900 | €174,385 | €387,015 | +€212,630 | +122% |
| Operating profit (loss) | 9901 | €105,511 | €327,461 | +€221,950 | +210% |
| Financial income | 75/76B | €25,345 | €1,935 | -€23,410 | -92.4% |
| Recurring financial income | 75 | €25,345 | €1,935 | -€23,410 | -92.4% |
| Financial charges | 65/66B | €20,252 | €60,588 | +€40,336 | +199% |
| Recurring financial charges | 65 | €20,252 | €60,588 | +€40,336 | +199% |
| Profit (loss) for the period before taxes | 9903 | €110,604 | €268,808 | +€158,204 | +143% |
| Income taxes | 67/77 | €37,078 | €97,061 | +€59,983 | +162% |
| Profit (loss) for the period | 9904 | €73,526 | €171,747 | +€98,221 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €73,526 | €171,747 | +€98,221 | +134% |
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 18 October 2026 via checked.be.