CHO&CGO: 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&CGO
Largest movements
- Deferred charges and accrued income +€20,608
up €20,608 (+293.3%), from €7,025 to €27,633
- Intangible fixed assets -€10,267
down €10,267 (-100.0%), from €10,267 to €0
- Tangible fixed assets +€9,155
up €9,155 (+71.1%), from €12,885 to €22,040
of which Other tangible fixed assets: +€16,097
- Receivables within one year +€7,806
up €7,806 (+11.2%), from €69,933 to €77,739
of which Trade receivables: +€23,970
- Other debts +€30,296
up €30,296 (+141.1%), from €21,469 to €51,765
- Reserves -€3,966
down €3,966 (-2.6%), from €154,129 to €150,162
- Financial income +€13,715
up €13,715 (+1191.0%), from €1,152 to €14,866
of which Non-recurring financial income: +€12,428
- Gross operating margin -€7,916
down €7,916 (-9.7%), from €81,723 to €73,807
- Depreciation -€1,185
down €1,185 (-7.0%), from €16,832 to €15,647
- Taxes +€1,058
up €1,058 (+5.6%), from €18,974 to €20,031
- Other operating charges +€900
up €900 (+84.5%), from €1,065 to €1,965
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 | €203,046 | €230,383 | +€27,337 | +13.5% |
| Fixed assets | 21/28 | €23,152 | €22,040 | -€1,112 | -4.8% |
| Intangible fixed assets | 21 | €10,267 | €0 | -€10,267 | -100.0% |
| Tangible fixed assets | 22/27 | €12,885 | €22,040 | +€9,155 | +71.1% |
| Furniture and vehicles | 24 | €12,498 | €5,556 | -€6,942 | -55.5% |
| Other tangible fixed assets | 26 | €387 | €16,484 | +€16,097 | +4158.1% |
| Current assets | 29/58 | €179,894 | €208,343 | +€28,449 | +15.8% |
| Amounts receivable within one year | 40/41 | €69,933 | €77,739 | +€7,806 | +11.2% |
| Trade receivables | 40 | €23,856 | €47,825 | +€23,970 | +100.5% |
| Other amounts receivable | 41 | €46,077 | €29,914 | -€16,163 | -35.1% |
| Cash at bank and in hand | 54/58 | €102,936 | €102,971 | +€35 | 0.0% |
| Deferred charges and accrued income | 490/1 | €7,025 | €27,633 | +€20,608 | +293.3% |
| Total equity and liabilities | 10/49 | €203,046 | €230,383 | +€27,337 | +13.5% |
| Equity | 10/15 | €160,329 | €156,362 | -€3,966 | -2.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €154,129 | €150,162 | -€3,966 | -2.6% |
| Distributable reserves | 133 | €154,129 | €150,162 | -€3,966 | -2.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,718 | €74,021 | +€31,303 | +73.3% |
| Amounts payable within one year | 42/48 | €42,718 | €74,021 | +€31,303 | +73.3% |
| Trade debts | 44 | €392 | €1,116 | +€724 | +184.8% |
| Suppliers | 440/4 | €392 | €1,116 | +€724 | +184.8% |
| Taxes, remuneration and social security | 45 | €20,857 | €21,140 | +€283 | +1.4% |
| Taxes | 450/3 | €20,857 | €21,140 | +€283 | +1.4% |
| Other amounts payable | 47/48 | €21,469 | €51,765 | +€30,296 | +141.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,832 | €15,647 | -€1,185 | -7.0% |
| Other operating charges | 640/8 | €1,065 | €1,965 | +€900 | +84.5% |
| Non-recurring operating charges | 66A | €0 | €170 | +€170 | |
| Gross operating margin | 9900 | €81,723 | €73,807 | -€7,916 | -9.7% |
| Operating profit (loss) | 9901 | €63,826 | €56,025 | -€7,801 | -12.2% |
| Financial income | 75/76B | €1,152 | €14,866 | +€13,715 | +1191.0% |
| Recurring financial income | 75 | €1,152 | €2,438 | +€1,287 | +111.7% |
| Non-recurring financial income | 76B | €0 | €12,428 | +€12,428 | |
| Financial charges | 65/66B | €201 | €147 | -€54 | -26.9% |
| Recurring financial charges | 65 | €201 | €147 | -€54 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €64,776 | €70,744 | +€5,968 | +9.2% |
| Income taxes | 67/77 | €18,974 | €20,031 | +€1,058 | +5.6% |
| Profit (loss) for the period | 9904 | €45,802 | €50,712 | +€4,910 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,802 | €50,712 | +€4,910 | +10.7% |
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 3 October 2026 via checked.be.