CHRISTIAENSEN: 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.
CHRISTIAENSEN
Largest movements
- Cash -€64,688
down €64,688 (-28.0%), from €230,731 to €166,043
mainly Receivables within one year (-€41,932) and Net result for the year (-€16,854)
- Receivables within one year +€41,932
up €41,932 (+32.8%), from €127,903 to €169,834
- Tangible fixed assets -€13,689
down €13,689 (-5.3%), from €259,775 to €246,086
of which Land and buildings: -€9,735
- Profit (loss) carried forward -€16,854
down €16,854 (-23.0%), from -€73,251 to -€90,105
- Current portion of long-term debt -€16,263
no longer reported in 2025 (was €16,263)
- Depreciation -€19,474
down €19,474 (-58.7%), from €33,163 to €13,689
- Gross operating margin -€7,588
down €7,588, from €1,032 to -€6,557
- Financial income +€1,778
up €1,778 (+30.0%), from €5,934 to €7,712
- Financial charges -€1,014
down €1,014 (-78.4%), from €1,294 to €280
- Taxes +€900
up €900 (+1,182%), from €76 to €976
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 | €623,077 | €588,331 | -€34,746 | -5.6% |
| Fixed assets | 21/28 | €259,775 | €246,086 | -€13,689 | -5.3% |
| Tangible fixed assets | 22/27 | €259,775 | €246,086 | -€13,689 | -5.3% |
| Land and buildings | 22 | €255,821 | €246,086 | -€9,735 | -3.8% |
| Furniture and vehicles | 24 | €3,954 | - | -€3,954 | |
| Current assets | 29/58 | €363,302 | €342,245 | -€21,057 | -5.8% |
| Amounts receivable within one year | 40/41 | €127,903 | €169,834 | +€41,932 | +32.8% |
| Other amounts receivable | 41 | €127,903 | €169,834 | +€41,932 | +32.8% |
| Cash at bank and in hand | 54/58 | €230,731 | €166,043 | -€64,688 | -28.0% |
| Deferred charges and accrued income | 490/1 | €4,668 | €6,368 | +€1,700 | +36.4% |
| Total equity and liabilities | 10/49 | €623,077 | €588,331 | -€34,746 | -5.6% |
| Equity | 10/15 | €603,930 | €587,076 | -€16,854 | -2.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €652,181 | €652,181 | = | 0.0% |
| Distributable reserves | 133 | €652,181 | €652,181 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,251 | -€90,105 | -€16,854 | -23.0% |
| Amounts payable | 17/49 | €19,147 | €1,255 | -€17,892 | -93.4% |
| Amounts payable within one year | 42/48 | €16,826 | €1,255 | -€15,571 | -92.5% |
| Current portion of amounts payable after more than one year | 42 | €16,263 | - | -€16,263 | |
| Trade debts | 44 | €563 | €1,255 | +€692 | +123% |
| Suppliers | 440/4 | €563 | €1,255 | +€692 | +123% |
| Accrued charges and deferred income | 492/3 | €2,321 | - | -€2,321 | |
| Non-recurring operating income | 76A | €1,146 | €1,848 | +€702 | +61.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,163 | €13,689 | -€19,474 | -58.7% |
| Other operating charges | 640/8 | €3,800 | €3,064 | -€736 | -19.4% |
| Gross operating margin | 9900 | €1,032 | -€6,557 | -€7,588 | |
| Operating profit (loss) | 9901 | -€35,932 | -€23,310 | +€12,622 | +35.1% |
| Financial income | 75/76B | €5,934 | €7,712 | +€1,778 | +30.0% |
| Recurring financial income | 75 | €5,934 | €7,712 | +€1,778 | +30.0% |
| Financial charges | 65/66B | €1,294 | €280 | -€1,014 | -78.4% |
| Recurring financial charges | 65 | €1,294 | €280 | -€1,014 | -78.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,292 | -€15,878 | +€15,414 | +49.3% |
| Income taxes | 67/77 | €76 | €976 | +€900 | +1,182% |
| Profit (loss) for the period | 9904 | -€31,368 | -€16,854 | +€14,514 | +46.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,368 | -€16,854 | +€14,514 | +46.3% |
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 25 October 2026 via checked.be.