Dr. Chinitor: 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.
Dr. Chinitor
Largest movements
- Tangible fixed assets -€71,724
down €71,724 (-13.9%), from €515,820 to €444,096
of which Land and buildings: -€42,214
- Cash +€33,332
up €33,332 (+45.0%), from €74,102 to €107,434
mainly Depreciation (+€80,397) and Trade debts (+€13,183)
- Receivables within one year +€12,222
up €12,222 (+19.2%), from €63,787 to €76,009
of which Other amounts receivable: +€13,347
- Debts after one year -€42,367
down €42,367 (-10.7%), from €394,563 to €352,196
- Tax, wage and social debts -€13,572
down €13,572 (-46.1%), from €29,430 to €15,858
of which Remuneration and social security: -€7,192
- Trade debts +€13,183
up €13,183 (+355.6%), from €3,708 to €16,891
- Current portion of long-term debt +€10,962
up €10,962 (+24.5%), from €44,656 to €55,617
- Gross operating margin -€73,275
down €73,275 (-31.9%), from €229,345 to €156,070
- Taxes -€22,209
down €22,209 (-94.3%), from €23,558 to €1,349
- Staff costs +€4,058
up €4,058 (+8.3%), from €48,657 to €52,715
- Depreciation -€3,423
down €3,423 (-4.1%), from €83,820 to €80,397
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 | €671,341 | €644,533 | -€26,808 | -4.0% |
| Fixed assets | 21/28 | €515,820 | €444,096 | -€71,724 | -13.9% |
| Tangible fixed assets | 22/27 | €515,820 | €444,096 | -€71,724 | -13.9% |
| Land and buildings | 22 | €439,574 | €397,360 | -€42,214 | -9.6% |
| Plant, machinery and equipment | 23 | €16,142 | €12,587 | -€3,555 | -22.0% |
| Furniture and vehicles | 24 | €60,103 | €34,148 | -€25,955 | -43.2% |
| Current assets | 29/58 | €155,521 | €200,437 | +€44,916 | +28.9% |
| Amounts receivable within one year | 40/41 | €63,787 | €76,009 | +€12,222 | +19.2% |
| Trade receivables | 40 | €4,690 | €3,565 | -€1,125 | -24.0% |
| Other amounts receivable | 41 | €59,097 | €72,444 | +€13,347 | +22.6% |
| Cash at bank and in hand | 54/58 | €74,102 | €107,434 | +€33,332 | +45.0% |
| Deferred charges and accrued income | 490/1 | €17,632 | €16,994 | -€638 | -3.6% |
| Total equity and liabilities | 10/49 | €671,341 | €644,533 | -€26,808 | -4.0% |
| Equity | 10/15 | €198,984 | €203,971 | +€4,987 | +2.5% |
| Contributions | 10/11 | €14,500 | €14,500 | = | 0.0% |
| Reserves | 13 | €184,484 | €189,471 | +€4,987 | +2.7% |
| Distributable reserves | 133 | €184,484 | €189,471 | +€4,987 | +2.7% |
| Amounts payable | 17/49 | €472,357 | €440,562 | -€31,795 | -6.7% |
| Amounts payable after more than one year | 17 | €394,563 | €352,196 | -€42,367 | -10.7% |
| Financial debts | 170/4 | €394,563 | €352,196 | -€42,367 | -10.7% |
| Amounts payable within one year | 42/48 | €77,794 | €88,366 | +€10,572 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €44,656 | €55,617 | +€10,962 | +24.5% |
| Trade debts | 44 | €3,708 | €16,891 | +€13,183 | +355.6% |
| Suppliers | 440/4 | €3,708 | €16,891 | +€13,183 | +355.6% |
| Taxes, remuneration and social security | 45 | €29,430 | €15,858 | -€13,572 | -46.1% |
| Taxes | 450/3 | €16,838 | €10,457 | -€6,380 | -37.9% |
| Remuneration and social security | 454/9 | €12,592 | €5,400 | -€7,192 | -57.1% |
| Remuneration, social security and pensions | 62 | €48,657 | €52,715 | +€4,058 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,820 | €80,397 | -€3,423 | -4.1% |
| Other operating charges | 640/8 | €2,279 | €2,598 | +€319 | +14.0% |
| Non-recurring operating charges | 66A | €4,552 | €4,151 | -€401 | -8.8% |
| Gross operating margin | 9900 | €229,345 | €156,070 | -€73,275 | -31.9% |
| Operating profit (loss) | 9901 | €90,038 | €16,209 | -€73,829 | -82.0% |
| Financial income | 75/76B | €346 | €384 | +€38 | +11.0% |
| Recurring financial income | 75 | €346 | €384 | +€38 | +11.0% |
| Financial charges | 65/66B | €11,197 | €10,258 | -€939 | -8.4% |
| Recurring financial charges | 65 | €11,197 | €10,258 | -€939 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €79,187 | €6,336 | -€72,851 | -92.0% |
| Income taxes | 67/77 | €23,558 | €1,349 | -€22,209 | -94.3% |
| Profit (loss) for the period | 9904 | €55,629 | €4,987 | -€50,642 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,629 | €4,987 | -€50,642 | -91.0% |
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 10 October 2026 via checked.be.