CHODECO: 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.
CHODECO
Largest movements
- Tangible fixed assets -€14,164
down €14,164 (-8.9%), from €158,785 to €144,621
of which Other tangible fixed assets: -€8,103
- Stocks and contracts +€13,680
new in 2025: €13,680
- Cash +€2,834
up €2,834 (+159%), from €1,788 to €4,622
mainly Other debts (+€78,003) and Depreciation (+€15,139)
- Receivables within one year -€2,723
down €2,723 (-17.6%), from €15,503 to €12,780
of which Trade receivables: -€3,975
- Other debts +€78,003
up €78,003 (+258%), from €30,195 to €108,199
- Profit (loss) carried forward -€54,895
new in 2025: -€54,895
- Debts after one year -€11,341
down €11,341 (-17.4%), from €65,130 to €53,789
- Tax, wage and social debts -€9,532
down €9,532 (-80.4%), from €11,856 to €2,325
of which Remuneration and social security: -€6,855
- Gross operating margin -€251,365
down €251,365, from €219,562 to -€31,802
- Staff costs -€152,808
no longer reported in 2025 (was €152,808)
- Other operating charges -€39,376
down €39,376 (-89.4%), from €44,023 to €4,647
- Financial charges -€5,160
down €5,160 (-63.0%), from €8,190 to €3,030
- Depreciation +€3,366
up €3,366 (+28.6%), from €11,773 to €15,139
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 | €258,041 | €259,655 | +€1,614 | +0.6% |
| Fixed assets | 21/28 | €158,785 | €144,621 | -€14,164 | -8.9% |
| Tangible fixed assets | 22/27 | €158,785 | €144,621 | -€14,164 | -8.9% |
| Plant, machinery and equipment | 23 | €786 | €439 | -€347 | -44.1% |
| Furniture and vehicles | 24 | €17,846 | €12,131 | -€5,715 | -32.0% |
| Other tangible fixed assets | 26 | €140,153 | €132,051 | -€8,103 | -5.8% |
| Current assets | 29/58 | €99,256 | €115,034 | +€15,778 | +15.9% |
| Stocks and contracts in progress | 3 | - | €13,680 | +€13,680 | |
| Stocks | 30/36 | - | €13,680 | +€13,680 | |
| Amounts receivable within one year | 40/41 | €15,503 | €12,780 | -€2,723 | -17.6% |
| Trade receivables | 40 | €6,175 | €2,200 | -€3,975 | -64.4% |
| Other amounts receivable | 41 | €9,328 | €10,580 | +€1,252 | +13.4% |
| Current investments | 50/53 | €79,897 | €79,797 | -€100 | -0.1% |
| Cash at bank and in hand | 54/58 | €1,788 | €4,622 | +€2,834 | +159% |
| Deferred charges and accrued income | 490/1 | €2,069 | €4,156 | +€2,087 | +101% |
| Total equity and liabilities | 10/49 | €258,041 | €259,655 | +€1,614 | +0.6% |
| Equity | 10/15 | €137,845 | €82,950 | -€54,895 | -39.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €118,845 | €118,845 | = | 0.0% |
| Distributable reserves | 133 | €118,845 | €118,845 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€54,895 | -€54,895 | |
| Amounts payable | 17/49 | €120,196 | €176,705 | +€56,509 | +47.0% |
| Amounts payable after more than one year | 17 | €65,130 | €53,789 | -€11,341 | -17.4% |
| Financial debts | 170/4 | €65,130 | €53,789 | -€11,341 | -17.4% |
| Amounts payable within one year | 42/48 | €54,124 | €122,916 | +€68,793 | +127% |
| Current portion of amounts payable after more than one year | 42 | €11,049 | €11,341 | +€293 | +2.6% |
| Trade debts | 44 | €1,023 | €1,052 | +€28 | +2.7% |
| Suppliers | 440/4 | €1,023 | €1,052 | +€28 | +2.7% |
| Taxes, remuneration and social security | 45 | €11,856 | €2,325 | -€9,532 | -80.4% |
| Taxes | 450/3 | €5,001 | €2,325 | -€2,676 | -53.5% |
| Remuneration and social security | 454/9 | €6,855 | - | -€6,855 | |
| Other amounts payable | 47/48 | €30,195 | €108,199 | +€78,003 | +258% |
| Accrued charges and deferred income | 492/3 | €942 | - | -€942 | |
| Remuneration, social security and pensions | 62 | €152,808 | - | -€152,808 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,773 | €15,139 | +€3,366 | +28.6% |
| Other operating charges | 640/8 | €44,023 | €4,647 | -€39,376 | -89.4% |
| Gross operating margin | 9900 | €219,562 | -€31,802 | -€251,365 | |
| Operating profit (loss) | 9901 | €10,958 | -€51,588 | -€62,546 | |
| Financial income | 75/76B | €1,446 | €74 | -€1,372 | -94.9% |
| Recurring financial income | 75 | €1,446 | €74 | -€1,372 | -94.9% |
| Financial charges | 65/66B | €8,190 | €3,030 | -€5,160 | -63.0% |
| Recurring financial charges | 65 | €8,190 | €3,030 | -€5,160 | -63.0% |
| Profit (loss) for the period before taxes | 9903 | €4,214 | -€54,544 | -€58,758 | |
| Income taxes | 67/77 | €715 | €351 | -€364 | -50.9% |
| Profit (loss) for the period | 9904 | €3,500 | -€54,895 | -€58,395 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,500 | -€54,895 | -€58,395 |
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 13 October 2026 via checked.be.