CHINA: 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.
CHINA
Largest movements
- Receivables within one year +€60,505
up €60,505 (+31.5%), from €191,870 to €252,375
- Current investments -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Cash +€13,861
up €13,861 (+31.3%), from €44,333 to €58,194
mainly Current investments (+€50,000) and Net result for the year (+€36,953)
- Reserves +€36,953
up €36,953 (+28.5%), from €129,655 to €166,608
of which Distributable reserves: +€36,953
- Other debts -€6,750
down €6,750 (-100.0%), from €6,750 to €0
- Short-term financial debts +€6,679
up €6,679 (+655.5%), from €1,019 to €7,698
- Tax, wage and social debts -€6,595
down €6,595 (-31.3%), from €21,066 to €14,471
of which Taxes: -€5,978
- Current portion of long-term debt -€4,539
down €4,539 (-63.9%), from €7,104 to €2,566
- Gross operating margin -€10,081
down €10,081 (-9.2%), from €109,772 to €99,691
- Staff costs -€5,036
down €5,036 (-10.6%), from €47,579 to €42,543
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 | €294,050 | €315,270 | +€21,220 | +7.2% |
| Fixed assets | 21/28 | €4,177 | €1,367 | -€2,810 | -67.3% |
| Tangible fixed assets | 22/27 | €4,177 | €1,367 | -€2,810 | -67.3% |
| Plant, machinery and equipment | 23 | €885 | €502 | -€383 | -43.3% |
| Furniture and vehicles | 24 | €3,292 | €865 | -€2,427 | -73.7% |
| Current assets | 29/58 | €289,872 | €313,903 | +€24,031 | +8.3% |
| Stocks and contracts in progress | 3 | €1,168 | €1,396 | +€228 | +19.5% |
| Stocks | 30/36 | €1,168 | €1,396 | +€228 | +19.5% |
| Amounts receivable within one year | 40/41 | €191,870 | €252,375 | +€60,505 | +31.5% |
| Other amounts receivable | 41 | €191,870 | €252,375 | +€60,505 | +31.5% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €44,333 | €58,194 | +€13,861 | +31.3% |
| Deferred charges and accrued income | 490/1 | €2,501 | €1,938 | -€563 | -22.5% |
| Total equity and liabilities | 10/49 | €294,050 | €315,270 | +€21,220 | +7.2% |
| Equity | 10/15 | €137,263 | €174,216 | +€36,953 | +26.9% |
| Contributions | 10/11 | €7,608 | €7,608 | = | 0.0% |
| Reserves | 13 | €129,655 | €166,608 | +€36,953 | +28.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €129,655 | €166,608 | +€36,953 | +28.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €156,787 | €141,054 | -€15,733 | -10.0% |
| Amounts payable after more than one year | 17 | €111,020 | €106,653 | -€4,366 | -3.9% |
| Financial debts | 170/4 | €2,337 | €0 | -€2,337 | -100.0% |
| Other amounts payable | 178/9 | €108,683 | €106,653 | -€2,030 | -1.9% |
| Amounts payable within one year | 42/48 | €45,757 | €34,398 | -€11,359 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €7,104 | €2,566 | -€4,539 | -63.9% |
| Financial debts | 43 | €1,019 | €7,698 | +€6,679 | +655.5% |
| Credit institutions | 430/8 | €1,019 | €7,698 | +€6,679 | +655.5% |
| Trade debts | 44 | €9,818 | €9,663 | -€155 | -1.6% |
| Suppliers | 440/4 | €9,818 | €9,663 | -€155 | -1.6% |
| Taxes, remuneration and social security | 45 | €21,066 | €14,471 | -€6,595 | -31.3% |
| Taxes | 450/3 | €12,511 | €6,533 | -€5,978 | -47.8% |
| Remuneration and social security | 454/9 | €8,555 | €7,938 | -€617 | -7.2% |
| Other amounts payable | 47/48 | €6,750 | €0 | -€6,750 | -100.0% |
| Accrued charges and deferred income | 492/3 | €10 | €3 | -€7 | -70.2% |
| Remuneration, social security and pensions | 62 | €47,579 | €42,543 | -€5,036 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,692 | €2,810 | +€118 | +4.4% |
| Other operating charges | 640/8 | €962 | €1,567 | +€604 | +62.8% |
| Gross operating margin | 9900 | €109,772 | €99,691 | -€10,081 | -9.2% |
| Operating profit (loss) | 9901 | €58,539 | €52,771 | -€5,767 | -9.9% |
| Financial income | 75/76B | €97 | €352 | +€255 | +264.4% |
| Recurring financial income | 75 | €97 | €352 | +€255 | +264.4% |
| Financial charges | 65/66B | €974 | €786 | -€188 | -19.3% |
| Recurring financial charges | 65 | €974 | €786 | -€188 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €57,661 | €52,337 | -€5,324 | -9.2% |
| Income taxes | 67/77 | €15,448 | €15,384 | -€64 | -0.4% |
| Profit (loss) for the period | 9904 | €42,213 | €36,953 | -€5,260 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,213 | €36,953 | -€5,260 | -12.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.