CINDY CHEVALIER: 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.
CINDY CHEVALIER
Largest movements
- Cash +€28,260
up €28,260 (+40.2%), from €70,313 to €98,573
mainly Receivables within one year (+€23,476) and Net result for the year (+€11,053)
- Receivables within one year -€23,476
down €23,476 (-40.2%), from €58,401 to €34,925
of which Trade receivables: -€27,670
- Tangible fixed assets +€14,296
up €14,296 (+48.8%), from €29,273 to €43,569
of which Plant, machinery and equipment: +€18,981
- Stocks and contracts +€6,578
up €6,578 (+6.9%), from €94,786 to €101,364
- Reserves +€11,053
up €11,053 (+18.3%), from €60,321 to €71,375
- Debts after one year +€10,143
up €10,143 (+76.0%), from €13,341 to €23,484
- Trade debts -€9,873
down €9,873 (-23.6%), from €41,748 to €31,875
- Tax, wage and social debts +€8,766
up €8,766 (+67.4%), from €13,011 to €21,777
of which Remuneration and social security: +€11,694
- Current portion of long-term debt +€4,575
up €4,575 (+67.4%), from €6,789 to €11,364
- Gross operating margin -€6,202
down €6,202 (-5.1%), from €121,026 to €114,824
- Taxes -€4,449
down €4,449 (-47.7%), from €9,332 to €4,883
- Financial charges +€4,217
up €4,217 (+114%), from €3,687 to €7,905
- Depreciation +€3,299
up €3,299 (+46.6%), from €7,076 to €10,374
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 | €256,832 | €282,129 | +€25,297 | +9.8% |
| Fixed assets | 21/28 | €31,897 | €46,193 | +€14,296 | +44.8% |
| Tangible fixed assets | 22/27 | €29,273 | €43,569 | +€14,296 | +48.8% |
| Plant, machinery and equipment | 23 | €5,557 | €24,538 | +€18,981 | +342% |
| Furniture and vehicles | 24 | €19,793 | €13,675 | -€6,119 | -30.9% |
| Other tangible fixed assets | 26 | €3,923 | €5,356 | +€1,433 | +36.5% |
| Financial fixed assets | 28 | €2,624 | €2,624 | = | 0.0% |
| Current assets | 29/58 | €224,935 | €235,936 | +€11,001 | +4.9% |
| Stocks and contracts in progress | 3 | €94,786 | €101,364 | +€6,578 | +6.9% |
| Stocks | 30/36 | €94,786 | €101,364 | +€6,578 | +6.9% |
| Amounts receivable within one year | 40/41 | €58,401 | €34,925 | -€23,476 | -40.2% |
| Trade receivables | 40 | €47,025 | €19,355 | -€27,670 | -58.8% |
| Other amounts receivable | 41 | €11,377 | €15,570 | +€4,194 | +36.9% |
| Cash at bank and in hand | 54/58 | €70,313 | €98,573 | +€28,260 | +40.2% |
| Deferred charges and accrued income | 490/1 | €1,435 | €1,074 | -€361 | -25.1% |
| Total equity and liabilities | 10/49 | €256,832 | €282,129 | +€25,297 | +9.8% |
| Equity | 10/15 | €181,598 | €192,652 | +€11,053 | +6.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €60,321 | €71,375 | +€11,053 | +18.3% |
| Distributable reserves | 133 | €60,321 | €71,375 | +€11,053 | +18.3% |
| Profit (loss) carried forward | 14 | €96,277 | €96,277 | = | 0.0% |
| Amounts payable | 17/49 | €75,234 | €89,477 | +€14,244 | +18.9% |
| Amounts payable after more than one year | 17 | €13,341 | €23,484 | +€10,143 | +76.0% |
| Financial debts | 170/4 | €13,341 | €23,484 | +€10,143 | +76.0% |
| Amounts payable within one year | 42/48 | €61,892 | €65,993 | +€4,101 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €6,789 | €11,364 | +€4,575 | +67.4% |
| Trade debts | 44 | €41,748 | €31,875 | -€9,873 | -23.6% |
| Suppliers | 440/4 | €41,748 | €31,875 | -€9,873 | -23.6% |
| Taxes, remuneration and social security | 45 | €13,011 | €21,777 | +€8,766 | +67.4% |
| Taxes | 450/3 | €5,783 | €2,855 | -€2,928 | -50.6% |
| Remuneration and social security | 454/9 | €7,228 | €18,922 | +€11,694 | +162% |
| Other amounts payable | 47/48 | €344 | €977 | +€633 | +184% |
| Remuneration, social security and pensions | 62 | €80,514 | €81,655 | +€1,141 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,076 | €10,374 | +€3,299 | +46.6% |
| Other operating charges | 640/8 | €1,253 | €1,648 | +€395 | +31.6% |
| Gross operating margin | 9900 | €121,026 | €114,824 | -€6,202 | -5.1% |
| Operating profit (loss) | 9901 | €32,184 | €21,147 | -€11,037 | -34.3% |
| Financial income | 75/76B | €2,441 | €2,695 | +€253 | +10.4% |
| Recurring financial income | 75 | €2,441 | €2,695 | +€253 | +10.4% |
| Financial charges | 65/66B | €3,687 | €7,905 | +€4,217 | +114% |
| Recurring financial charges | 65 | €3,687 | €7,905 | +€4,217 | +114% |
| Profit (loss) for the period before taxes | 9903 | €30,938 | €15,937 | -€15,001 | -48.5% |
| Income taxes | 67/77 | €9,332 | €4,883 | -€4,449 | -47.7% |
| Profit (loss) for the period | 9904 | €21,606 | €11,053 | -€10,552 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,606 | €11,053 | -€10,552 | -48.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.