CHRISTOFFEL: 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.
CHRISTOFFEL
Largest movements
- Tangible fixed assets -€37,333
down €37,333 (-7.4%), from €507,822 to €470,489
- Cash -€18,781
down €18,781 (-51.7%), from €36,350 to €17,569
mainly Other debts (-€45,000) and Debts after one year (-€22,421)
- Other debts -€45,000
no longer reported in 2025 (was €45,000)
- Debts after one year -€22,421
down €22,421 (-6.2%), from €364,383 to €341,962
of which Financial debts: -€22,421
- Reserves +€5,897
up €5,897 (+5.5%), from €107,777 to €113,674
of which Distributable reserves: +€8,049
- Gross operating margin +€8,197
up €8,197 (+14.8%), from €55,565 to €63,762
- Taxes +€2,989
up €2,989 (+237%), from €1,261 to €4,250
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 | €550,541 | €489,853 | -€60,688 | -11.0% |
| Fixed assets | 21/28 | €507,822 | €470,489 | -€37,333 | -7.4% |
| Tangible fixed assets | 22/27 | €507,822 | €470,489 | -€37,333 | -7.4% |
| Land and buildings | 22 | €507,822 | €470,489 | -€37,333 | -7.4% |
| Current assets | 29/58 | €42,719 | €19,364 | -€23,355 | -54.7% |
| Amounts receivable within one year | 40/41 | €6,369 | €1,795 | -€4,574 | -71.8% |
| Trade receivables | 40 | €2,010 | €1,269 | -€741 | -36.9% |
| Other amounts receivable | 41 | €4,359 | €526 | -€3,833 | -87.9% |
| Cash at bank and in hand | 54/58 | €36,350 | €17,569 | -€18,781 | -51.7% |
| Total equity and liabilities | 10/49 | €550,541 | €489,853 | -€60,688 | -11.0% |
| Equity | 10/15 | €107,877 | €113,774 | +€5,897 | +5.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €107,777 | €113,674 | +€5,897 | +5.5% |
| Tax-exempt reserves | 132 | €28,228 | €26,076 | -€2,152 | -7.6% |
| Distributable reserves | 133 | €79,549 | €87,598 | +€8,049 | +10.1% |
| Provisions and deferred taxes | 16 | €9,409 | €8,692 | -€717 | -7.6% |
| Deferred taxes | 168 | €9,409 | €8,692 | -€717 | -7.6% |
| Amounts payable | 17/49 | €433,255 | €367,387 | -€65,868 | -15.2% |
| Amounts payable after more than one year | 17 | €364,383 | €341,962 | -€22,421 | -6.2% |
| Financial debts | 170/4 | €340,950 | €318,529 | -€22,421 | -6.6% |
| Other amounts payable | 178/9 | €23,433 | €23,433 | = | 0.0% |
| Amounts payable within one year | 42/48 | €66,872 | €23,425 | -€43,447 | -65.0% |
| Current portion of amounts payable after more than one year | 42 | €21,578 | €22,421 | +€843 | +3.9% |
| Trade debts | 44 | - | €199 | +€199 | |
| Suppliers | 440/4 | - | €199 | +€199 | |
| Taxes, remuneration and social security | 45 | €294 | €805 | +€511 | +174% |
| Taxes | 450/3 | €294 | €805 | +€511 | +174% |
| Other amounts payable | 47/48 | €45,000 | - | -€45,000 | |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,333 | €37,333 | = | 0.0% |
| Other operating charges | 640/8 | €3,517 | €3,107 | -€410 | -11.7% |
| Gross operating margin | 9900 | €55,565 | €63,762 | +€8,197 | +14.8% |
| Operating profit (loss) | 9901 | €14,715 | €23,322 | +€8,607 | +58.5% |
| Financial charges | 65/66B | €13,379 | €13,892 | +€513 | +3.8% |
| Recurring financial charges | 65 | €13,379 | €13,892 | +€513 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €1,336 | €9,430 | +€8,094 | +606% |
| Transfer from deferred taxes | 780 | €717 | €717 | = | 0.0% |
| Income taxes | 67/77 | €1,261 | €4,250 | +€2,989 | +237% |
| Profit (loss) for the period | 9904 | €792 | €5,897 | +€5,105 | +645% |
| Transfer from tax-exempt reserves | 789 | €2,151 | €2,152 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,943 | €8,049 | +€5,106 | +173% |
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 13 October 2026 via checked.be.