CHRISTINA-M: 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.
CHRISTINA-M
Largest movements
- Tangible fixed assets -€16,453
down €16,453 (-1.6%), from €1.0m to €1.0m
of which Furniture and vehicles: -€39,476
- Deferred charges and accrued income -€14,000
down €14,000 (-100%), from €14,000 to €0
- Other debts +€70,000
up €70,000 (+10.9%), from €640,000 to €710,000
- Profit (loss) carried forward -€67,753
down €67,753 (-3,260%), from -€2,079 to -€69,832
- Debts after one year -€27,538
down €27,538 (-100%), from €27,538 to €0
- Current portion of long-term debt -€27,458
down €27,458 (-49.9%), from €54,996 to €27,538
- Accrued charges and deferred income +€25,688
up €25,688 (+23.1%), from €111,324 to €137,011
- Gross operating margin -€90,028
down €90,028, from €86,451 to -€3,577
- Other operating charges -€2,337
down €2,337 (-100%), from €2,337 to €0
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 | €1,080,890 | €1,054,358 | -€26,532 | -2.5% |
| Fixed assets | 21/28 | €1,030,684 | €1,014,230 | -€16,453 | -1.6% |
| Tangible fixed assets | 22/27 | €1,030,684 | €1,014,230 | -€16,453 | -1.6% |
| Furniture and vehicles | 24 | €1,030,684 | €991,208 | -€39,476 | -3.8% |
| Other tangible fixed assets | 26 | - | €23,023 | +€23,023 | |
| Current assets | 29/58 | €50,206 | €40,128 | -€10,078 | -20.1% |
| Amounts receivable within one year | 40/41 | €8,406 | €14,713 | +€6,307 | +75.0% |
| Trade receivables | 40 | €7,483 | €12,272 | +€4,789 | +64.0% |
| Other amounts receivable | 41 | €923 | €2,441 | +€1,518 | +164% |
| Cash at bank and in hand | 54/58 | €27,800 | €25,415 | -€2,385 | -8.6% |
| Deferred charges and accrued income | 490/1 | €14,000 | €0 | -€14,000 | -100% |
| Total equity and liabilities | 10/49 | €1,080,890 | €1,054,358 | -€26,532 | -2.5% |
| Equity | 10/15 | €205,921 | €132,168 | -€73,753 | -35.8% |
| Contributions | 10/11 | €96,000 | €96,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,079 | -€69,832 | -€67,753 | -3,260% |
| Investment grants | 15 | €112,000 | €106,000 | -€6,000 | -5.4% |
| Provisions and deferred taxes | 16 | €39,893 | €38,533 | -€1,360 | -3.4% |
| Deferred taxes | 168 | €39,893 | €38,533 | -€1,360 | -3.4% |
| Amounts payable | 17/49 | €835,075 | €883,657 | +€48,581 | +5.8% |
| Amounts payable after more than one year | 17 | €27,538 | €0 | -€27,538 | -100% |
| Financial debts | 170/4 | €27,538 | €0 | -€27,538 | -100% |
| Amounts payable within one year | 42/48 | €696,214 | €746,645 | +€50,431 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €54,996 | €27,538 | -€27,458 | -49.9% |
| Trade debts | 44 | €1,218 | €9,107 | +€7,889 | +648% |
| Suppliers | 440/4 | €1,218 | €9,107 | +€7,889 | +648% |
| Other amounts payable | 47/48 | €640,000 | €710,000 | +€70,000 | +10.9% |
| Accrued charges and deferred income | 492/3 | €111,324 | €137,011 | +€25,688 | +23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,435 | €44,783 | +€348 | +0.8% |
| Other operating charges | 640/8 | €2,337 | €0 | -€2,337 | -100% |
| Gross operating margin | 9900 | €86,451 | -€3,577 | -€90,028 | |
| Operating profit (loss) | 9901 | €39,679 | -€48,360 | -€88,039 | |
| Financial income | 75/76B | €6,000 | €6,000 | +€0 | 0.0% |
| Recurring financial income | 75 | €6,000 | €6,000 | +€0 | 0.0% |
| Financial charges | 65/66B | €27,263 | €26,753 | -€510 | -1.9% |
| Recurring financial charges | 65 | €27,263 | €26,753 | -€510 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €18,416 | -€69,113 | -€87,529 | |
| Transfer from deferred taxes | 780 | €1,360 | €1,360 | = | 0.0% |
| Income taxes | 67/77 | €847 | €0 | -€847 | -100% |
| Profit (loss) for the period | 9904 | €18,928 | -€67,753 | -€86,681 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,928 | -€67,753 | -€86,681 |
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 26 October 2026 via checked.be.