DAVIDE CHAPE: 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.
DAVIDE CHAPE
Largest movements
- Tangible fixed assets +€195,194
up €195,194 (+63.7%), from €306,511 to €501,705
of which Furniture and vehicles: +€109,052
- Receivables within one year -€37,099
down €37,099 (-15.7%), from €236,667 to €199,568
of which Trade receivables: -€55,694
- Cash -€16,737
down €16,737 (-21.3%), from €78,457 to €61,721
mainly Investment in fixed assets (net) (-€369,572) and Deferred charges and accrued income (-€7,124)
- Debts after one year +€85,283
up €85,283 (+70.3%), from €121,356 to €206,639
- Current portion of long-term debt +€75,571
up €75,571 (+108.2%), from €69,843 to €145,413
- Profit (loss) carried forward -€33,203
down €33,203 (-16.1%), from €206,596 to €173,392
- Reserves +€30,000
up €30,000 (+60.0%), from €50,000 to €80,000
- Depreciation +€95,384
up €95,384 (+120.7%), from €78,994 to €174,378
- Gross operating margin +€37,615
up €37,615 (+14.0%), from €269,548 to €307,162
- Taxes +€19,762
up €19,762 (+49.4%), from €40,000 to €59,762
- Financial charges +€7,412
up €7,412 (+167.4%), from €4,429 to €11,840
- Write-downs +€4,491
new in 2025: €4,491
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 | €630,238 | €778,719 | +€148,482 | +23.6% |
| Fixed assets | 21/28 | €306,511 | €501,705 | +€195,194 | +63.7% |
| Tangible fixed assets | 22/27 | €306,511 | €501,705 | +€195,194 | +63.7% |
| Plant, machinery and equipment | 23 | €2,214 | €876 | -€1,337 | -60.4% |
| Furniture and vehicles | 24 | €111,737 | €220,789 | +€109,052 | +97.6% |
| Leasing and similar rights | 25 | €192,560 | €280,040 | +€87,479 | +45.4% |
| Current assets | 29/58 | €323,727 | €277,014 | -€46,712 | -14.4% |
| Amounts receivable within one year | 40/41 | €236,667 | €199,568 | -€37,099 | -15.7% |
| Trade receivables | 40 | €151,763 | €96,069 | -€55,694 | -36.7% |
| Other amounts receivable | 41 | €84,904 | €103,498 | +€18,594 | +21.9% |
| Cash at bank and in hand | 54/58 | €78,457 | €61,721 | -€16,737 | -21.3% |
| Deferred charges and accrued income | 490/1 | €8,602 | €15,726 | +€7,124 | +82.8% |
| Total equity and liabilities | 10/49 | €630,238 | €778,719 | +€148,482 | +23.6% |
| Equity | 10/15 | €276,596 | €273,392 | -€3,203 | -1.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €80,000 | +€30,000 | +60.0% |
| Distributable reserves | 133 | €50,000 | €80,000 | +€30,000 | +60.0% |
| Profit (loss) carried forward | 14 | €206,596 | €173,392 | -€33,203 | -16.1% |
| Amounts payable | 17/49 | €353,642 | €505,327 | +€151,685 | +42.9% |
| Amounts payable after more than one year | 17 | €121,356 | €206,639 | +€85,283 | +70.3% |
| Financial debts | 170/4 | €121,356 | €206,639 | +€85,283 | +70.3% |
| Amounts payable within one year | 42/48 | €232,287 | €298,688 | +€66,402 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €69,843 | €145,413 | +€75,571 | +108.2% |
| Trade debts | 44 | €149,117 | €147,003 | -€2,114 | -1.4% |
| Suppliers | 440/4 | €149,117 | €147,003 | -€2,114 | -1.4% |
| Taxes, remuneration and social security | 45 | €13,327 | €6,272 | -€7,055 | -52.9% |
| Taxes | 450/3 | €469 | €1,253 | +€784 | +167.2% |
| Remuneration and social security | 454/9 | €12,858 | €5,019 | -€7,840 | -61.0% |
| Remuneration, social security and pensions | 62 | €32,059 | €32,680 | +€622 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,994 | €174,378 | +€95,384 | +120.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,491 | +€4,491 | |
| Other operating charges | 640/8 | €23,408 | €27,220 | +€3,812 | +16.3% |
| Gross operating margin | 9900 | €269,548 | €307,162 | +€37,615 | +14.0% |
| Operating profit (loss) | 9901 | €135,088 | €68,394 | -€66,694 | -49.4% |
| Financial income | 75/76B | €1 | €5 | +€4 | +706.9% |
| Recurring financial income | 75 | €1 | €5 | +€4 | +706.9% |
| Financial charges | 65/66B | €4,429 | €11,840 | +€7,412 | +167.4% |
| Recurring financial charges | 65 | €4,429 | €11,840 | +€7,412 | +167.4% |
| Profit (loss) for the period before taxes | 9903 | €130,660 | €56,558 | -€74,101 | -56.7% |
| Income taxes | 67/77 | €40,000 | €59,762 | +€19,762 | +49.4% |
| Profit (loss) for the period | 9904 | €90,660 | -€3,203 | -€93,863 | |
| Profit (loss) for the period to be appropriated | 9905 | €90,660 | -€3,203 | -€93,863 |
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 11 October 2026 via checked.be.