CHORUS: 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.
CHORUS
Largest movements
- Receivables within one year +€131,273
up €131,273 (+629.1%), from €20,867 to €152,141
of which Trade receivables: +€131,000
- Tangible fixed assets -€98,585
down €98,585 (-3.0%), from €3.2m to €3.1m
of which Land and buildings: -€77,266
- Other debts +€185,000
up €185,000 (+14.1%), from €1.3m to €1.5m
- Trade debts -€132,783
down €132,783 (-8.9%), from €1.5m to €1.4m
- Gross operating margin -€75,610
down €75,610 (-36.6%), from €206,780 to €131,170
- Financial charges -€8,974
down €8,974 (-8.3%), from €108,509 to €99,536
- Other operating charges -€2,307
down €2,307 (-35.1%), from €6,579 to €4,272
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 | €9,082,658 | €9,108,197 | +€25,538 | +0.3% |
| Fixed assets | 21/28 | €9,050,306 | €8,951,721 | -€98,585 | -1.1% |
| Tangible fixed assets | 22/27 | €3,240,806 | €3,142,221 | -€98,585 | -3.0% |
| Land and buildings | 22 | €3,101,385 | €3,024,119 | -€77,266 | -2.5% |
| Plant, machinery and equipment | 23 | €109,680 | €96,696 | -€12,984 | -11.8% |
| Furniture and vehicles | 24 | €29,741 | €21,406 | -€8,335 | -28.0% |
| Financial fixed assets | 28 | €5,809,500 | €5,809,500 | = | 0.0% |
| Current assets | 29/58 | €32,352 | €156,475 | +€124,123 | +383.7% |
| Amounts receivable within one year | 40/41 | €20,867 | €152,141 | +€131,273 | +629.1% |
| Trade receivables | 40 | - | €131,000 | +€131,000 | |
| Other amounts receivable | 41 | €20,867 | €21,141 | +€273 | +1.3% |
| Cash at bank and in hand | 54/58 | €7,761 | €472 | -€7,289 | -93.9% |
| Deferred charges and accrued income | 490/1 | €3,723 | €3,863 | +€139 | +3.7% |
| Total equity and liabilities | 10/49 | €9,082,658 | €9,108,197 | +€25,538 | +0.3% |
| Equity | 10/15 | €3,101,152 | €3,029,933 | -€71,219 | -2.3% |
| Contributions | 10/11 | €4,287,752 | €4,287,752 | = | 0.0% |
| Capital | 10 | €4,287,752 | €4,287,752 | = | 0.0% |
| Issued capital | 100 | €4,704,190 | €4,704,190 | = | 0.0% |
| Uncalled capital | 101 | €416,438 | €416,438 | = | 0.0% |
| Reserves | 13 | €183,900 | €183,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €170,400 | €170,400 | = | 0.0% |
| Legal reserve | 130 | €170,400 | €170,400 | = | 0.0% |
| Distributable reserves | 133 | €13,500 | €13,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,370,500 | -€1,441,719 | -€71,219 | -5.2% |
| Amounts payable | 17/49 | €5,981,507 | €6,078,264 | +€96,757 | +1.6% |
| Amounts payable after more than one year | 17 | €206,474 | €171,614 | -€34,860 | -16.9% |
| Financial debts | 170/4 | €206,474 | €171,614 | -€34,860 | -16.9% |
| Amounts payable within one year | 42/48 | €2,844,716 | €2,897,566 | +€52,851 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €34,227 | €34,860 | +€633 | +1.9% |
| Trade debts | 44 | €1,495,599 | €1,362,816 | -€132,783 | -8.9% |
| Suppliers | 440/4 | €1,495,599 | €1,362,816 | -€132,783 | -8.9% |
| Other amounts payable | 47/48 | €1,314,890 | €1,499,890 | +€185,000 | +14.1% |
| Accrued charges and deferred income | 492/3 | €2,930,317 | €3,009,083 | +€78,767 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,577 | €98,585 | +€1,008 | +1.0% |
| Other operating charges | 640/8 | €6,579 | €4,272 | -€2,307 | -35.1% |
| Gross operating margin | 9900 | €206,780 | €131,170 | -€75,610 | -36.6% |
| Operating profit (loss) | 9901 | €102,624 | €28,313 | -€74,311 | -72.4% |
| Financial income | 75/76B | €1 | €4 | +€2 | +180.5% |
| Recurring financial income | 75 | €1 | €4 | +€2 | +180.5% |
| Financial charges | 65/66B | €108,509 | €99,536 | -€8,974 | -8.3% |
| Recurring financial charges | 65 | €108,509 | €99,536 | -€8,974 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,884 | -€71,219 | -€65,335 | -1110.4% |
| Profit (loss) for the period | 9904 | -€5,884 | -€71,219 | -€65,335 | -1110.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,884 | -€71,219 | -€65,335 | -1110.4% |
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 29 September 2026 via checked.be.