CHRISTIAENS: 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.
CHRISTIAENS
Largest movements
- Tangible fixed assets -€30,693
down €30,693 (-3.2%), from €951,125 to €920,432
of which Land and buildings: -€28,908
- Cash -€15,647
down €15,647 (-23.3%), from €67,097 to €51,450
mainly Net result for the year (-€41,128) and Investment in fixed assets (net) (-€16,907)
- Profit (loss) carried forward -€29,367
down €29,367 (-11.6%), from -€252,872 to -€282,238
- Trade debts -€12,953
down €12,953 (-66.6%), from €19,462 to €6,508
- Debts after one year +€12,476
up €12,476 (+1.8%), from €702,483 to €714,959
of which Other amounts payable: +€47,695
- Reserves -€11,762
down €11,762 (-6.1%), from €191,307 to €179,545
- Gross operating margin -€3,594
down €3,594 (-17.0%), from €21,137 to €17,542
- Other operating charges +€2,031
up €2,031 (+47.3%), from €4,297 to €6,328
- Depreciation +€1,353
up €1,353 (+2.9%), from €46,247 to €47,600
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 | €1,020,477 | €973,841 | -€46,636 | -4.6% |
| Fixed assets | 21/28 | €951,125 | €920,432 | -€30,693 | -3.2% |
| Tangible fixed assets | 22/27 | €951,125 | €920,432 | -€30,693 | -3.2% |
| Land and buildings | 22 | €949,122 | €920,214 | -€28,908 | -3.0% |
| Plant, machinery and equipment | 23 | €326 | €218 | -€108 | -33.2% |
| Furniture and vehicles | 24 | €1,676 | - | -€1,676 | |
| Current assets | 29/58 | €69,352 | €53,409 | -€15,943 | -23.0% |
| Amounts receivable within one year | 40/41 | €1,136 | - | -€1,136 | |
| Trade receivables | 40 | €1,045 | - | -€1,045 | |
| Other amounts receivable | 41 | €90 | - | -€90 | |
| Cash at bank and in hand | 54/58 | €67,097 | €51,450 | -€15,647 | -23.3% |
| Deferred charges and accrued income | 490/1 | €1,119 | €1,959 | +€840 | +75.1% |
| Total equity and liabilities | 10/49 | €1,020,477 | €973,841 | -€46,636 | -4.6% |
| Equity | 10/15 | €198,435 | €157,307 | -€41,128 | -20.7% |
| Contributions | 10/11 | €260,000 | €260,000 | = | 0.0% |
| Capital | 10 | €260,000 | €260,000 | = | 0.0% |
| Issued capital | 100 | €260,000 | €260,000 | = | 0.0% |
| Reserves | 13 | €191,307 | €179,545 | -€11,762 | -6.1% |
| Tax-exempt reserves | 132 | €191,307 | €179,545 | -€11,762 | -6.1% |
| Profit (loss) carried forward | 14 | -€252,872 | -€282,238 | -€29,367 | -11.6% |
| Provisions and deferred taxes | 16 | €63,769 | €59,848 | -€3,921 | -6.1% |
| Deferred taxes | 168 | €63,769 | €59,848 | -€3,921 | -6.1% |
| Amounts payable | 17/49 | €758,273 | €756,685 | -€1,587 | -0.2% |
| Amounts payable after more than one year | 17 | €702,483 | €714,959 | +€12,476 | +1.8% |
| Financial debts | 170/4 | €435,862 | €400,644 | -€35,218 | -8.1% |
| Other amounts payable | 178/9 | €266,621 | €314,315 | +€47,695 | +17.9% |
| Amounts payable within one year | 42/48 | €55,790 | €41,727 | -€14,063 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €36,328 | €35,218 | -€1,110 | -3.1% |
| Trade debts | 44 | €19,462 | €6,508 | -€12,953 | -66.6% |
| Suppliers | 440/4 | €19,462 | €6,508 | -€12,953 | -66.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,247 | €47,600 | +€1,353 | +2.9% |
| Other operating charges | 640/8 | €4,297 | €6,328 | +€2,031 | +47.3% |
| Gross operating margin | 9900 | €21,137 | €17,542 | -€3,594 | -17.0% |
| Operating profit (loss) | 9901 | -€29,407 | -€36,386 | -€6,979 | -23.7% |
| Financial charges | 65/66B | €8,611 | €8,663 | +€52 | +0.6% |
| Recurring financial charges | 65 | €8,611 | €8,663 | +€52 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | -€38,018 | -€45,049 | -€7,031 | -18.5% |
| Transfer from deferred taxes | 780 | €3,921 | €3,921 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€34,098 | -€41,128 | -€7,031 | -20.6% |
| Transfer from tax-exempt reserves | 789 | €11,762 | €11,762 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,336 | -€29,367 | -€7,031 | -31.5% |
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 18 October 2026 via checked.be.