Christophe-VKH: 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.
Christophe-VKH
Largest movements
- Cash +€34,349
up €34,349 (+106%), from €32,503 to €66,852
mainly Net result for the year (+€36,665) and Receivables within one year (+€16,397)
- Receivables within one year -€16,397
down €16,397 (-91.0%), from €18,018 to €1,620
of which Trade receivables: -€14,520
- Tangible fixed assets -€10,156
down €10,156 (-25.0%), from €40,623 to €30,467
- Reserves +€36,665
up €36,665 (+102%), from €35,949 to €72,615
- Other debts -€24,000
down €24,000 (-68.6%), from €35,004 to €11,004
- Tax, wage and social debts -€5,053
down €5,053 (-33.6%), from €15,019 to €9,966
of which Taxes: -€5,053
- Gross operating margin +€2,232
up €2,232 (+3.9%), from €56,534 to €58,766
- Taxes +€1,377
up €1,377 (+14.5%), from €9,502 to €10,880
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 | €93,031 | €100,805 | +€7,774 | +8.4% |
| Fixed assets | 21/28 | €40,623 | €30,467 | -€10,156 | -25.0% |
| Tangible fixed assets | 22/27 | €40,623 | €30,467 | -€10,156 | -25.0% |
| Furniture and vehicles | 24 | €40,623 | €30,467 | -€10,156 | -25.0% |
| Current assets | 29/58 | €52,408 | €70,338 | +€17,930 | +34.2% |
| Amounts receivable within one year | 40/41 | €18,018 | €1,620 | -€16,397 | -91.0% |
| Trade receivables | 40 | €14,520 | €0 | -€14,520 | -100% |
| Other amounts receivable | 41 | €3,498 | €1,620 | -€1,877 | -53.7% |
| Cash at bank and in hand | 54/58 | €32,503 | €66,852 | +€34,349 | +106% |
| Deferred charges and accrued income | 490/1 | €1,887 | €1,865 | -€22 | -1.2% |
| Total equity and liabilities | 10/49 | €93,031 | €100,805 | +€7,774 | +8.4% |
| Equity | 10/15 | €40,949 | €77,615 | +€36,665 | +89.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €35,949 | €72,615 | +€36,665 | +102% |
| Distributable reserves | 133 | €35,949 | €72,615 | +€36,665 | +102% |
| Amounts payable | 17/49 | €52,082 | €23,191 | -€28,891 | -55.5% |
| Amounts payable within one year | 42/48 | €52,082 | €23,191 | -€28,891 | -55.5% |
| Trade debts | 44 | €2,059 | €2,221 | +€162 | +7.9% |
| Suppliers | 440/4 | €2,059 | €2,221 | +€162 | +7.9% |
| Taxes, remuneration and social security | 45 | €15,019 | €9,966 | -€5,053 | -33.6% |
| Taxes | 450/3 | €12,214 | €7,161 | -€5,053 | -41.4% |
| Remuneration and social security | 454/9 | €2,805 | €2,805 | = | 0.0% |
| Other amounts payable | 47/48 | €35,004 | €11,004 | -€24,000 | -68.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,156 | €10,156 | = | 0.0% |
| Other operating charges | 640/8 | €926 | €1,022 | +€96 | +10.3% |
| Gross operating margin | 9900 | €56,534 | €58,766 | +€2,232 | +3.9% |
| Operating profit (loss) | 9901 | €45,452 | €47,588 | +€2,136 | +4.7% |
| Financial charges | 65/66B | - | €42 | +€42 | |
| Recurring financial charges | 65 | - | €42 | +€42 | |
| Profit (loss) for the period before taxes | 9903 | €45,452 | €47,545 | +€2,094 | +4.6% |
| Income taxes | 67/77 | €9,502 | €10,880 | +€1,377 | +14.5% |
| Profit (loss) for the period | 9904 | €35,949 | €36,665 | +€716 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,949 | €36,665 | +€716 | +2.0% |
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 31 October 2026 via checked.be.