CHRISTIAEN: 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.
CHRISTIAEN
Largest movements
- Receivables within one year +€182,486
up €182,486 (+197%), from €92,423 to €274,909
of which Trade receivables: +€233,150
- Tangible fixed assets +€157,608
up €157,608 (+8.2%), from €1.9m to €2.1m
of which Land and buildings: +€222,641
- Current investments +€143,000
up €143,000 (+21.2%), from €673,881 to €816,881
- Cash -€118,037
down €118,037 (-7.8%), from €1.5m to €1.4m
mainly Investment in fixed assets (net) (-€323,739) and Receivables within one year (-€182,486)
- Receivables after one year +€113,712
new in 2025: €113,712
- Debts after one year +€488,559
up €488,559 (+768%), from €63,644 to €552,203
of which Financial debts: +€511,370
- Reserves +€60,176
up €60,176 (+1.4%), from €4.3m to €4.3m
of which Distributable reserves: +€60,176
- Gross operating margin -€858,410
down €858,410 (-72.8%), from €1.2m to €320,560
- Turnover -€626,185
down €626,185 (-27.6%), from €2.3m to €1.6m
- Taxes -€278,664
down €278,664 (-94.4%), from €295,158 to €16,494
- Purchases and services +€199,725
up €199,725 (+17.8%), from €1.1m to €1.3m
- Financial income +€34,360
up €34,360 (+416%), from €8,250 to €42,610
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 | €4,495,969 | €5,018,978 | +€523,009 | +11.6% |
| Fixed assets | 21/28 | €1,911,313 | €2,068,921 | +€157,608 | +8.2% |
| Tangible fixed assets | 22/27 | €1,911,158 | €2,068,766 | +€157,608 | +8.2% |
| Land and buildings | 22 | €1,376,167 | €1,598,808 | +€222,641 | +16.2% |
| Plant, machinery and equipment | 23 | €530,661 | €469,737 | -€60,924 | -11.5% |
| Furniture and vehicles | 24 | €4,330 | €221 | -€4,109 | -94.9% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €2,584,656 | €2,950,057 | +€365,401 | +14.1% |
| Amounts receivable after more than one year | 29 | - | €113,712 | +€113,712 | |
| Other amounts receivable | 291 | - | €113,712 | +€113,712 | |
| Stocks and contracts in progress | 3 | €270,420 | €308,715 | +€38,295 | +14.2% |
| Stocks | 30/36 | €270,420 | €308,715 | +€38,295 | +14.2% |
| Amounts receivable within one year | 40/41 | €92,423 | €274,909 | +€182,486 | +197% |
| Trade receivables | 40 | €21,344 | €254,494 | +€233,150 | +1,092% |
| Other amounts receivable | 41 | €71,079 | €20,415 | -€50,664 | -71.3% |
| Current investments | 50/53 | €673,881 | €816,881 | +€143,000 | +21.2% |
| Cash at bank and in hand | 54/58 | €1,513,922 | €1,395,885 | -€118,037 | -7.8% |
| Deferred charges and accrued income | 490/1 | €34,010 | €39,955 | +€5,945 | +17.5% |
| Total equity and liabilities | 10/49 | €4,495,969 | €5,018,978 | +€523,009 | +11.6% |
| Equity | 10/15 | €4,296,782 | €4,356,958 | +€60,176 | +1.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €4,271,028 | €4,331,204 | +€60,176 | +1.4% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €389,230 | €389,230 | = | 0.0% |
| Distributable reserves | 133 | €3,879,298 | €3,939,474 | +€60,176 | +1.6% |
| Profit (loss) carried forward | 14 | €754 | €754 | = | 0.0% |
| Amounts payable | 17/49 | €199,187 | €662,020 | +€462,833 | +232% |
| Amounts payable after more than one year | 17 | €63,644 | €552,203 | +€488,559 | +768% |
| Financial debts | 170/4 | €40,833 | €552,203 | +€511,370 | +1,252% |
| Other amounts payable | 178/9 | €22,811 | - | -€22,811 | |
| Amounts payable within one year | 42/48 | €130,929 | €109,642 | -€21,287 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €70,000 | €73,391 | +€3,391 | +4.8% |
| Trade debts | 44 | €15,599 | €25,763 | +€10,164 | +65.2% |
| Suppliers | 440/4 | €15,599 | €25,763 | +€10,164 | +65.2% |
| Taxes, remuneration and social security | 45 | €45,330 | €10,488 | -€34,842 | -76.9% |
| Taxes | 450/3 | €42,759 | €7,354 | -€35,405 | -82.8% |
| Remuneration and social security | 454/9 | €2,571 | €3,134 | +€563 | +21.9% |
| Accrued charges and deferred income | 492/3 | €4,614 | €175 | -€4,439 | -96.2% |
| Turnover | 70 | €2,270,585 | €1,644,400 | -€626,185 | -27.6% |
| Non-recurring operating income | 76A | €32,500 | - | -€32,500 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,124,115 | €1,323,840 | +€199,725 | +17.8% |
| Remuneration, social security and pensions | 62 | €72,183 | €89,053 | +€16,870 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,114 | €166,131 | +€21,017 | +14.5% |
| Other operating charges | 640/8 | €18,613 | €19,361 | +€748 | +4.0% |
| Gross operating margin | 9900 | €1,178,970 | €320,560 | -€858,410 | -72.8% |
| Operating profit (loss) | 9901 | €943,060 | €46,015 | -€897,045 | -95.1% |
| Financial income | 75/76B | €8,250 | €42,610 | +€34,360 | +416% |
| Recurring financial income | 75 | €8,250 | €42,610 | +€34,360 | +416% |
| Financial charges | 65/66B | €6,038 | €11,955 | +€5,917 | +98.0% |
| Recurring financial charges | 65 | €6,038 | €11,955 | +€5,917 | +98.0% |
| Profit (loss) for the period before taxes | 9903 | €945,272 | €76,670 | -€868,602 | -91.9% |
| Income taxes | 67/77 | €295,158 | €16,494 | -€278,664 | -94.4% |
| Profit (loss) for the period | 9904 | €650,114 | €60,176 | -€589,938 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €650,114 | €60,176 | -€589,938 | -90.7% |
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 20 October 2026 via checked.be.