CHV REFLEXION: 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.
CHV REFLEXION
Largest movements
- Receivables within one year -€282,763
down €282,763 (-78.5%), from €360,203 to €77,440
of which Trade receivables: -€301,945
- Tangible fixed assets +€85,635
up €85,635 (+17.7%), from €484,395 to €570,031
of which Land and buildings: +€89,635
- Current investments +€64,098
up €64,098 (+356.1%), from €18,000 to €82,098
- Current portion of long-term debt +€159,206
up €159,206 (+84.1%), from €189,358 to €348,564
- Debts after one year -€98,136
down €98,136 (-6.8%), from €1.4m to €1.3m
- Tax, wage and social debts -€93,500
down €93,500 (-60.6%), from €154,309 to €60,808
- Other debts -€74,174
down €74,174 (-100.0%), from €74,174 to €0
- Gross operating margin -€414,672
down €414,672 (-81.3%), from €509,907 to €95,234
- Taxes -€102,363
down €102,363, from €102,081 to -€282
- Depreciation +€19,298
up €19,298 (+155.6%), from €12,399 to €31,697
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 | €3,267,944 | €3,146,405 | -€121,539 | -3.7% |
| Fixed assets | 21/28 | €2,684,395 | €2,770,031 | +€85,635 | +3.2% |
| Tangible fixed assets | 22/27 | €484,395 | €570,031 | +€85,635 | +17.7% |
| Land and buildings | 22 | €470,839 | €560,474 | +€89,635 | +19.0% |
| Furniture and vehicles | 24 | €13,556 | €9,556 | -€4,000 | -29.5% |
| Financial fixed assets | 28 | €2,200,000 | €2,200,000 | = | 0.0% |
| Current assets | 29/58 | €583,549 | €376,374 | -€207,175 | -35.5% |
| Amounts receivable within one year | 40/41 | €360,203 | €77,440 | -€282,763 | -78.5% |
| Trade receivables | 40 | €301,945 | €0 | -€301,945 | -100.0% |
| Other amounts receivable | 41 | €58,258 | €77,440 | +€19,182 | +32.9% |
| Current investments | 50/53 | €18,000 | €82,098 | +€64,098 | +356.1% |
| Cash at bank and in hand | 54/58 | €203,966 | €215,713 | +€11,748 | +5.8% |
| Deferred charges and accrued income | 490/1 | €1,380 | €1,123 | -€258 | -18.7% |
| Total equity and liabilities | 10/49 | €3,267,944 | €3,146,405 | -€121,539 | -3.7% |
| Equity | 10/15 | €1,415,446 | €1,400,652 | -€14,794 | -1.0% |
| Contributions | 10/11 | €155,100 | €155,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,260,346 | €1,245,552 | -€14,794 | -1.2% |
| Amounts payable | 17/49 | €1,852,498 | €1,745,753 | -€106,746 | -5.8% |
| Amounts payable after more than one year | 17 | €1,434,517 | €1,336,380 | -€98,136 | -6.8% |
| Financial debts | 170/4 | €1,434,517 | €1,336,380 | -€98,136 | -6.8% |
| Amounts payable within one year | 42/48 | €417,982 | €409,373 | -€8,609 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €189,358 | €348,564 | +€159,206 | +84.1% |
| Trade debts | 44 | €141 | €0 | -€141 | -100.0% |
| Suppliers | 440/4 | €141 | €0 | -€141 | -100.0% |
| Taxes, remuneration and social security | 45 | €154,309 | €60,808 | -€93,500 | -60.6% |
| Taxes | 450/3 | €154,309 | €60,808 | -€93,500 | -60.6% |
| Other amounts payable | 47/48 | €74,174 | €0 | -€74,174 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,399 | €31,697 | +€19,298 | +155.6% |
| Other operating charges | 640/8 | €8,712 | €10,401 | +€1,688 | +19.4% |
| Gross operating margin | 9900 | €509,907 | €95,234 | -€414,672 | -81.3% |
| Operating profit (loss) | 9901 | €488,796 | €53,137 | -€435,659 | -89.1% |
| Financial income | 75/76B | €423 | €1,737 | +€1,315 | +311.2% |
| Recurring financial income | 75 | €423 | €1,737 | +€1,315 | +311.2% |
| Financial charges | 65/66B | €72,286 | €69,950 | -€2,336 | -3.2% |
| Recurring financial charges | 65 | €72,286 | €69,950 | -€2,336 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €416,933 | -€15,075 | -€432,008 | |
| Income taxes | 67/77 | €102,081 | -€282 | -€102,363 | |
| Profit (loss) for the period | 9904 | €314,851 | -€14,794 | -€329,645 | |
| Profit (loss) for the period to be appropriated | 9905 | €314,851 | -€14,794 | -€329,645 |
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.