CHOPIN: 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.
CHOPIN
Largest movements
- Tangible fixed assets +€118,358
up €118,358 (+28.1%), from €421,178 to €539,536
of which Assets under construction and advance payments: +€128,827
- Cash +€12,337
up €12,337 (+694.7%), from €1,776 to €14,113
mainly Other debts (+€75,100) and Trade debts (+€46,535)
- Other debts +€75,100
up €75,100 (+18.5%), from €405,147 to €480,247
- Trade debts +€46,535
up €46,535 (+17811.0%), from €261 to €46,796
- Tax, wage and social debts +€19,137
up €19,137 (+3501.9%), from €546 to €19,684
- Profit (loss) carried forward -€10,077
down €10,077 (-2.3%), from -€446,879 to -€456,956
- Financial charges -€504,119
no longer reported in 2025 (was €504,119)
- Gross operating margin +€7,206
no longer reported in 2025 (was -€7,206)
- Other operating charges -€6,365
no longer reported in 2025 (was €6,365)
- Financial income -€484
down €484 (-55.2%), from €876 to €392
- Depreciation -€231
down €231 (-2.2%), from €10,700 to €10,469
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 | €422,954 | €553,649 | +€130,695 | +30.9% |
| Fixed assets | 21/28 | €421,178 | €539,536 | +€118,358 | +28.1% |
| Tangible fixed assets | 22/27 | €421,178 | €539,536 | +€118,358 | +28.1% |
| Land and buildings | 22 | €421,178 | €410,709 | -€10,469 | -2.5% |
| Assets under construction and advance payments | 27 | - | €128,827 | +€128,827 | |
| Current assets | 29/58 | €1,776 | €14,113 | +€12,337 | +694.7% |
| Cash at bank and in hand | 54/58 | €1,776 | €14,113 | +€12,337 | +694.7% |
| Total equity and liabilities | 10/49 | €422,954 | €553,649 | +€130,695 | +30.9% |
| Equity | 10/15 | €16,999 | €6,922 | -€10,077 | -59.3% |
| Contributions | 10/11 | €400,782 | €400,782 | = | 0.0% |
| Reserves | 13 | €63,097 | €63,097 | = | 0.0% |
| Distributable reserves | 133 | €63,097 | €63,097 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€446,879 | -€456,956 | -€10,077 | -2.3% |
| Amounts payable | 17/49 | €405,955 | €546,727 | +€140,772 | +34.7% |
| Amounts payable within one year | 42/48 | €405,955 | €546,727 | +€140,772 | +34.7% |
| Trade debts | 44 | €261 | €46,796 | +€46,535 | +17811.0% |
| Suppliers | 440/4 | €261 | €46,796 | +€46,535 | +17811.0% |
| Taxes, remuneration and social security | 45 | €546 | €19,684 | +€19,137 | +3501.9% |
| Taxes | 450/3 | €546 | €19,684 | +€19,137 | +3501.9% |
| Other amounts payable | 47/48 | €405,147 | €480,247 | +€75,100 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,700 | €10,469 | -€231 | -2.2% |
| Other operating charges | 640/8 | €6,365 | - | -€6,365 | |
| Gross operating margin | 9900 | -€7,206 | - | +€7,206 | |
| Operating profit (loss) | 9901 | -€24,271 | -€10,469 | +€13,802 | +56.9% |
| Financial income | 75/76B | €876 | €392 | -€484 | -55.2% |
| Recurring financial income | 75 | €876 | €392 | -€484 | -55.2% |
| Financial charges | 65/66B | €504,119 | - | -€504,119 | |
| Recurring financial charges | 65 | €504,119 | - | -€504,119 | |
| Profit (loss) for the period before taxes | 9903 | -€527,514 | -€10,077 | +€517,437 | +98.1% |
| Profit (loss) for the period | 9904 | -€527,514 | -€10,077 | +€517,437 | +98.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€527,514 | -€10,077 | +€517,437 | +98.1% |
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 2 October 2026 via checked.be.