CHRISTOFELLI: what changed
Two fiscal 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.
CHRISTOFELLI
Largest movements
- Receivables within one year +€34,642
up €34,642 (+4261.2%), from €813 to €35,455
of which Other amounts receivable: +€33,718
- Stocks and contracts -€17,984
down €17,984 (-16.7%), from €107,979 to €89,996
- Tangible fixed assets -€7,176
down €7,176 (-24.7%), from €29,070 to €21,894
of which Furniture and vehicles: -€4,240
- Other debts -€19,314
no longer reported in 2025 (was €19,314)
- Trade debts +€13,000
up €13,000 (+1459.6%), from €891 to €13,891
- Reserves +€11,488
up €11,488 (+17.4%), from €65,969 to €77,457
- Tax, wage and social debts +€9,512
up €9,512 (+42.0%), from €22,640 to €32,153
of which Taxes: +€16,680
- Debts after one year -€4,383
down €4,383 (-31.4%), from €13,974 to €9,591
- Gross operating margin +€9,694
up €9,694 (+54.5%), from €17,804 to €27,498
- Taxes +€3,707
up €3,707 (+141.3%), from €2,623 to €6,330
- Financial income +€1,837
up €1,837 (+3801.8%), from €48 to €1,885
- Depreciation +€513
up €513 (+6.2%), from €8,254 to €8,767
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.
Cash bridge derived
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 | €145,509 | €156,067 | +€10,558 | +7.3% |
| Fixed assets | 21/28 | €29,070 | €21,894 | -€7,176 | -24.7% |
| Tangible fixed assets | 22/27 | €29,070 | €21,894 | -€7,176 | -24.7% |
| Land and buildings | 22 | €910 | €627 | -€283 | -31.1% |
| Plant, machinery and equipment | 23 | €7,843 | €5,191 | -€2,653 | -33.8% |
| Furniture and vehicles | 24 | €20,316 | €16,076 | -€4,240 | -20.9% |
| Current assets | 29/58 | €116,440 | €134,173 | +€17,733 | +15.2% |
| Stocks and contracts in progress | 3 | €107,979 | €89,996 | -€17,984 | -16.7% |
| Stocks | 30/36 | €107,979 | €89,996 | -€17,984 | -16.7% |
| Amounts receivable within one year | 40/41 | €813 | €35,455 | +€34,642 | +4261.2% |
| Trade receivables | 40 | - | €924 | +€924 | |
| Other amounts receivable | 41 | €813 | €34,531 | +€33,718 | +4147.5% |
| Cash at bank and in hand | 54/58 | €7,648 | €8,723 | +€1,075 | +14.1% |
| Total equity and liabilities | 10/49 | €145,509 | €156,067 | +€10,558 | +7.3% |
| Equity | 10/15 | €84,561 | €96,049 | +€11,488 | +13.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €65,969 | €77,457 | +€11,488 | +17.4% |
| Distributable reserves | 133 | €65,969 | €77,457 | +€11,488 | +17.4% |
| Amounts payable | 17/49 | €60,949 | €60,018 | -€931 | -1.5% |
| Amounts payable after more than one year | 17 | €13,974 | €9,591 | -€4,383 | -31.4% |
| Financial debts | 170/4 | €13,974 | €9,591 | -€4,383 | -31.4% |
| Amounts payable within one year | 42/48 | €46,974 | €50,427 | +€3,453 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €4,130 | €4,383 | +€254 | +6.1% |
| Trade debts | 44 | €891 | €13,891 | +€13,000 | +1459.6% |
| Suppliers | 440/4 | €891 | €13,891 | +€13,000 | +1459.6% |
| Taxes, remuneration and social security | 45 | €22,640 | €32,153 | +€9,512 | +42.0% |
| Taxes | 450/3 | €15,473 | €32,153 | +€16,680 | +107.8% |
| Remuneration and social security | 454/9 | €7,167 | - | -€7,167 | |
| Other amounts payable | 47/48 | €19,314 | - | -€19,314 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,254 | €8,767 | +€513 | +6.2% |
| Other operating charges | 640/8 | €1,341 | €1,446 | +€105 | +7.8% |
| Gross operating margin | 9900 | €17,804 | €27,498 | +€9,694 | +54.5% |
| Operating profit (loss) | 9901 | €8,209 | €17,285 | +€9,077 | +110.6% |
| Financial income | 75/76B | €48 | €1,885 | +€1,837 | +3801.8% |
| Recurring financial income | 75 | €48 | €1,885 | +€1,837 | +3801.8% |
| Financial charges | 65/66B | €1,581 | €1,353 | -€228 | -14.4% |
| Recurring financial charges | 65 | €1,581 | €1,353 | -€228 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €6,677 | €17,818 | +€11,141 | +166.9% |
| Income taxes | 67/77 | €2,623 | €6,330 | +€3,707 | +141.3% |
| Profit (loss) for the period | 9904 | €4,054 | €11,488 | +€7,435 | +183.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,054 | €11,488 | +€7,435 | +183.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.