CHO: 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.
CHO
Largest movements
- Tangible fixed assets +€343,897
up €343,897 (+6184.1%), from €5,561 to €349,458
of which Land and buildings: +€224,803
- Receivables within one year +€141,134
new in 2025: €141,134
- Cash +€55,341
new in 2025: €55,341
mainly Debts after one year (+€310,451) and Accrued charges and deferred income (+€196,160)
- Stocks and contracts +€27,102
up €27,102 (+18.6%), from €145,588 to €172,690
- Debts after one year +€310,451
up €310,451 (+2939.0%), from €10,563 to €321,014
- Accrued charges and deferred income +€196,160
up €196,160 (+1248.3%), from €15,714 to €211,874
- Other debts +€133,611
new in 2025: €133,611
- Profit (loss) carried forward -€57,545
down €57,545 (-406.8%), from -€14,147 to -€71,692
- Reserves -€32,347
no longer reported in 2025 (was €32,347)
- Gross operating margin -€96,590
down €96,590, from €45,068 to -€51,522
- Depreciation +€25,022
up €25,022 (+2398.7%), from €1,043 to €26,065
- Taxes -€6,127
no longer reported in 2025 (was €6,127)
- Financial charges +€3,824
up €3,824 (+70.1%), from €5,452 to €9,276
- Other operating charges +€2,897
up €2,897 (+485.0%), from €597 to €3,494
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 | €151,149 | €718,623 | +€567,474 | +375.4% |
| Fixed assets | 21/28 | €5,561 | €349,458 | +€343,897 | +6184.1% |
| Tangible fixed assets | 22/27 | €5,561 | €349,458 | +€343,897 | +6184.1% |
| Land and buildings | 22 | €2,692 | €227,495 | +€224,803 | +8352.3% |
| Plant, machinery and equipment | 23 | €2,869 | €121,963 | +€119,094 | +4150.4% |
| Current assets | 29/58 | €145,588 | €369,165 | +€223,578 | +153.6% |
| Stocks and contracts in progress | 3 | €145,588 | €172,690 | +€27,102 | +18.6% |
| Stocks | 30/36 | €145,588 | €172,690 | +€27,102 | +18.6% |
| Amounts receivable within one year | 40/41 | - | €141,134 | +€141,134 | |
| Trade receivables | 40 | - | €141,134 | +€141,134 | |
| Cash at bank and in hand | 54/58 | - | €55,341 | +€55,341 | |
| Total equity and liabilities | 10/49 | €151,149 | €718,623 | +€567,474 | +375.4% |
| Equity | 10/15 | €93,200 | €3,308 | -€89,893 | -96.5% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €32,347 | - | -€32,347 | |
| Distributable reserves | 133 | €32,347 | - | -€32,347 | |
| Profit (loss) carried forward | 14 | -€14,147 | -€71,692 | -€57,545 | -406.8% |
| Amounts payable | 17/49 | €57,948 | €715,315 | +€657,367 | +1134.4% |
| Amounts payable after more than one year | 17 | €10,563 | €321,014 | +€310,451 | +2939.0% |
| Financial debts | 170/4 | €10,563 | €321,014 | +€310,451 | +2939.0% |
| Amounts payable within one year | 42/48 | €31,672 | €182,427 | +€150,756 | +476.0% |
| Current portion of amounts payable after more than one year | 42 | €3,813 | €27,843 | +€24,030 | +630.2% |
| Trade debts | 44 | €9,403 | €4,814 | -€4,589 | -48.8% |
| Suppliers | 440/4 | €9,403 | €4,814 | -€4,589 | -48.8% |
| Taxes, remuneration and social security | 45 | €18,456 | €16,160 | -€2,296 | -12.4% |
| Taxes | 450/3 | €18,456 | €16,160 | -€2,296 | -12.4% |
| Other amounts payable | 47/48 | - | €133,611 | +€133,611 | |
| Accrued charges and deferred income | 492/3 | €15,714 | €211,874 | +€196,160 | +1248.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,043 | €26,065 | +€25,022 | +2398.7% |
| Other operating charges | 640/8 | €597 | €3,494 | +€2,897 | +485.0% |
| Gross operating margin | 9900 | €45,068 | -€51,522 | -€96,590 | |
| Operating profit (loss) | 9901 | €43,427 | -€81,081 | -€124,509 | |
| Financial income | 75/76B | €499 | €465 | -€34 | -6.8% |
| Recurring financial income | 75 | €499 | €465 | -€34 | -6.8% |
| Financial charges | 65/66B | €5,452 | €9,276 | +€3,824 | +70.1% |
| Recurring financial charges | 65 | €5,452 | €9,276 | +€3,824 | +70.1% |
| Profit (loss) for the period before taxes | 9903 | €38,474 | -€89,893 | -€128,367 | |
| Income taxes | 67/77 | €6,127 | - | -€6,127 | |
| Profit (loss) for the period | 9904 | €32,347 | -€89,893 | -€122,240 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,347 | -€89,893 | -€122,240 |
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 7 October 2026 via checked.be.