CHRISTIE'S: what changed
CHRISTIE'S
Largest movements
- Cash -€26,864
down €26,864 (-30.5%), from €87,995 to €61,131
mainly Other debts (-€36,841) and Current portion of long-term debt (-€30,414)
- Tangible fixed assets -€21,787
down €21,787 (-22.8%), from €95,559 to €73,772
of which Plant, machinery and equipment: -€11,320
- Stocks and contracts +€12,755
up €12,755 (+38.6%), from €33,009 to €45,764
- Receivables within one year -€6,918
down €6,918 (-19.8%), from €34,979 to €28,061
of which Other amounts receivable: -€9,521
- Other debts -€36,841
down €36,841 (-61.0%), from €60,441 to €23,600
- Current portion of long-term debt -€30,414
down €30,414 (-61.1%), from €49,804 to €19,390
- Trade debts +€28,944
up €28,944 (+89.3%), from €32,412 to €61,356
- Debts after one year -€16,566
down €16,566 (-36.6%), from €45,252 to €28,685
- Tax, wage and social debts +€8,683
up €8,683 (+31.9%), from €27,235 to €35,917
of which Taxes: +€13,443
- Staff costs +€32,740
up €32,740 (+13.7%), from €238,954 to €271,694
- Gross operating margin -€22,748
down €22,748 (-6.5%), from €348,478 to €325,731
- Taxes -€12,757
down €12,757 (-62.4%), from €20,449 to €7,692
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €259,310 | €215,127 | -€44,183 | -17.0% |
| Fixed assets | 21/28 | €96,313 | €74,276 | -€22,037 | -22.9% |
| Tangible fixed assets | 22/27 | €95,559 | €73,772 | -€21,787 | -22.8% |
| Plant, machinery and equipment | 23 | €30,000 | €18,680 | -€11,320 | -37.7% |
| Furniture and vehicles | 24 | €34,845 | €25,491 | -€9,355 | -26.8% |
| Other tangible fixed assets | 26 | €30,714 | €29,601 | -€1,113 | -3.6% |
| Financial fixed assets | 28 | €754 | €504 | -€250 | -33.2% |
| Current assets | 29/58 | €162,997 | €140,851 | -€22,146 | -13.6% |
| Stocks and contracts in progress | 3 | €33,009 | €45,764 | +€12,755 | +38.6% |
| Stocks | 30/36 | €33,009 | €45,764 | +€12,755 | +38.6% |
| Amounts receivable within one year | 40/41 | €34,979 | €28,061 | -€6,918 | -19.8% |
| Trade receivables | 40 | €25,241 | €27,843 | +€2,603 | +10.3% |
| Other amounts receivable | 41 | €9,738 | €217 | -€9,521 | -97.8% |
| Cash at bank and in hand | 54/58 | €87,995 | €61,131 | -€26,864 | -30.5% |
| Deferred charges and accrued income | 490/1 | €7,014 | €5,896 | -€1,119 | -15.9% |
| Total equity and liabilities | 10/49 | €259,310 | €215,127 | -€44,183 | -17.0% |
| Equity | 10/15 | €39,424 | €46,178 | +€6,754 | +17.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,824 | €27,578 | +€6,754 | +32.4% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €20,824 | €27,578 | +€6,754 | +32.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €219,885 | €168,949 | -€50,937 | -23.2% |
| Amounts payable after more than one year | 17 | €45,252 | €28,685 | -€16,566 | -36.6% |
| Financial debts | 170/4 | €45,252 | €28,685 | -€16,566 | -36.6% |
| Amounts payable within one year | 42/48 | €169,892 | €140,263 | -€29,629 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €49,804 | €19,390 | -€30,414 | -61.1% |
| Trade debts | 44 | €32,412 | €61,356 | +€28,944 | +89.3% |
| Suppliers | 440/4 | €32,412 | €61,356 | +€28,944 | +89.3% |
| Taxes, remuneration and social security | 45 | €27,235 | €35,917 | +€8,683 | +31.9% |
| Taxes | 450/3 | €6,907 | €20,350 | +€13,443 | +195% |
| Remuneration and social security | 454/9 | €20,328 | €15,568 | -€4,761 | -23.4% |
| Other amounts payable | 47/48 | €60,441 | €23,600 | -€36,841 | -61.0% |
| Accrued charges and deferred income | 492/3 | €4,742 | €0 | -€4,742 | -100% |
| Non-recurring operating income | 76A | €1,107 | €0 | -€1,107 | -100% |
| Remuneration, social security and pensions | 62 | €238,954 | €271,694 | +€32,740 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,578 | €27,335 | -€1,243 | -4.4% |
| Other operating charges | 640/8 | €5,412 | €5,403 | -€8 | -0.2% |
| Non-recurring operating charges | 66A | €218 | €0 | -€218 | -100% |
| Gross operating margin | 9900 | €348,478 | €325,731 | -€22,748 | -6.5% |
| Operating profit (loss) | 9901 | €75,316 | €21,299 | -€54,018 | -71.7% |
| Financial income | 75/76B | €106 | €90 | -€16 | -15.2% |
| Recurring financial income | 75 | €106 | €90 | -€16 | -15.2% |
| Financial charges | 65/66B | €7,200 | €6,943 | -€257 | -3.6% |
| Recurring financial charges | 65 | €7,200 | €6,943 | -€257 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €68,222 | €14,445 | -€53,777 | -78.8% |
| Income taxes | 67/77 | €20,449 | €7,692 | -€12,757 | -62.4% |
| Profit (loss) for the period | 9904 | €47,773 | €6,754 | -€41,020 | -85.9% |
| Transfer from tax-exempt reserves | 789 | €248 | €0 | -€248 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €48,021 | €6,754 | -€41,267 | -85.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.