CHOUCONUT: 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.
CHOUCONUT
Largest movements
- Tangible fixed assets -€96,648
down €96,648 (-57.5%), from €168,115 to €71,467
of which Plant, machinery and equipment: -€62,506
- Cash -€55,671
down €55,671 (-70.9%), from €78,477 to €22,806
mainly Net result for the year (-€130,817) and Tax, wage and social debts (-€33,149)
- Receivables within one year -€4,417
down €4,417 (-54.0%), from €8,185 to €3,768
of which Trade receivables: -€7,220
- Profit (loss) carried forward -€130,817
down €130,817, from €84,113 to -€46,704
- Contributions +€45,000
up €45,000 (+242%), from €18,600 to €63,600
- Tax, wage and social debts -€33,149
down €33,149 (-94.7%), from €35,000 to €1,851
of which Remuneration and social security: -€27,235
- Advances received +€27,830
new in 2025: €27,830
- Other debts -€26,900
down €26,900 (-45.5%), from €59,063 to €32,163
- Gross operating margin -€120,460
down €120,460 (-84.8%), from €142,029 to €21,569
- Depreciation -€49,905
down €49,905 (-69.3%), from €72,017 to €22,112
- Staff costs -€38,946
down €38,946 (-41.7%), from €93,324 to €54,378
- Financial charges -€14,021
down €14,021 (-81.0%), from €17,319 to €3,298
- Taxes +€2,950
up €2,950 (+983%), from €300 to €3,250
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 | €268,441 | €113,363 | -€155,078 | -57.8% |
| Fixed assets | 21/28 | €181,645 | €85,147 | -€96,498 | -53.1% |
| Tangible fixed assets | 22/27 | €168,115 | €71,467 | -€96,648 | -57.5% |
| Plant, machinery and equipment | 23 | €74,556 | €12,050 | -€62,506 | -83.8% |
| Furniture and vehicles | 24 | €10,465 | €83 | -€10,382 | -99.2% |
| Other tangible fixed assets | 26 | €83,094 | €59,334 | -€23,760 | -28.6% |
| Financial fixed assets | 28 | €13,530 | €13,680 | +€150 | +1.1% |
| Current assets | 29/58 | €86,796 | €28,216 | -€58,580 | -67.5% |
| Amounts receivable within one year | 40/41 | €8,185 | €3,768 | -€4,417 | -54.0% |
| Trade receivables | 40 | €8,185 | €965 | -€7,220 | -88.2% |
| Other amounts receivable | 41 | - | €2,803 | +€2,803 | |
| Cash at bank and in hand | 54/58 | €78,477 | €22,806 | -€55,671 | -70.9% |
| Deferred charges and accrued income | 490/1 | €134 | €1,642 | +€1,508 | +1,125% |
| Total equity and liabilities | 10/49 | €268,441 | €113,363 | -€155,078 | -57.8% |
| Equity | 10/15 | €121,187 | €27,063 | -€94,124 | -77.7% |
| Contributions | 10/11 | €18,600 | €63,600 | +€45,000 | +242% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,113 | -€46,704 | -€130,817 | |
| Investment grants | 15 | €16,614 | €8,307 | -€8,307 | -50.0% |
| Amounts payable | 17/49 | €147,254 | €86,300 | -€60,954 | -41.4% |
| Amounts payable after more than one year | 17 | €18,074 | - | -€18,074 | |
| Financial debts | 170/4 | €18,074 | - | -€18,074 | |
| Amounts payable within one year | 42/48 | €129,180 | €86,300 | -€42,880 | -33.2% |
| Current portion of amounts payable after more than one year | 42 | €30,634 | €21,612 | -€9,022 | -29.5% |
| Trade debts | 44 | €4,483 | €2,844 | -€1,639 | -36.6% |
| Suppliers | 440/4 | €4,483 | €2,844 | -€1,639 | -36.6% |
| Advances received on contracts in progress | 46 | - | €27,830 | +€27,830 | |
| Taxes, remuneration and social security | 45 | €35,000 | €1,851 | -€33,149 | -94.7% |
| Taxes | 450/3 | €5,914 | - | -€5,914 | |
| Remuneration and social security | 454/9 | €29,086 | €1,851 | -€27,235 | -93.6% |
| Other amounts payable | 47/48 | €59,063 | €32,163 | -€26,900 | -45.5% |
| Remuneration, social security and pensions | 62 | €93,324 | €54,378 | -€38,946 | -41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,017 | €22,112 | -€49,905 | -69.3% |
| Other operating charges | 640/8 | €132 | €1,406 | +€1,274 | +965% |
| Non-recurring operating charges | 66A | - | €78,686 | +€78,686 | |
| Gross operating margin | 9900 | €142,029 | €21,569 | -€120,460 | -84.8% |
| Operating profit (loss) | 9901 | -€23,444 | -€135,013 | -€111,569 | -476% |
| Financial income | 75/76B | €13,209 | €10,744 | -€2,465 | -18.7% |
| Recurring financial income | 75 | €13,209 | €10,744 | -€2,465 | -18.7% |
| Financial charges | 65/66B | €17,319 | €3,298 | -€14,021 | -81.0% |
| Recurring financial charges | 65 | €17,319 | €3,298 | -€14,021 | -81.0% |
| Profit (loss) for the period before taxes | 9903 | -€27,554 | -€127,567 | -€100,013 | -363% |
| Income taxes | 67/77 | €300 | €3,250 | +€2,950 | +983% |
| Profit (loss) for the period | 9904 | -€27,854 | -€130,817 | -€102,963 | -370% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,854 | -€130,817 | -€102,963 | -370% |
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 31 October 2026 via checked.be.