Ferme du Chapitre: 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.
Ferme du Chapitre
Largest movements
- Stocks and contracts +€735,313
new in 2025: €735,313
- Receivables within one year +€405,843
up €405,843 (+54.1%), from €750,808 to €1.2m
of which Trade receivables: +€373,380
- Cash +€100,048
up €100,048 (+11,534%), from €867 to €100,916
mainly Trade debts (+€879,733) and Short-term financial debts (+€250,000)
- Tangible fixed assets -€78,505
down €78,505 (-16.2%), from €485,832 to €407,327
of which Land and buildings: -€80,972
- Trade debts +€879,733
up €879,733 (+3,068%), from €28,679 to €908,412
- Short-term financial debts +€250,000
new in 2025: €250,000
- Other debts +€33,553
up €33,553 (+3.2%), from €1.1m to €1.1m
- Gross operating margin +€12,911
up €12,911 (+15.2%), from €84,694 to €97,605
- Financial charges +€2,376
up €2,376 (+169%), from €1,406 to €3,782
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 | €1,276,138 | €2,446,117 | +€1.2m | +91.7% |
| Fixed assets | 21/28 | €524,463 | €445,958 | -€78,505 | -15.0% |
| Tangible fixed assets | 22/27 | €485,832 | €407,327 | -€78,505 | -16.2% |
| Land and buildings | 22 | €485,832 | €404,860 | -€80,972 | -16.7% |
| Other tangible fixed assets | 26 | - | €2,467 | +€2,467 | |
| Financial fixed assets | 28 | €38,631 | €38,631 | = | 0.0% |
| Current assets | 29/58 | €751,675 | €2,000,159 | +€1.2m | +166% |
| Stocks and contracts in progress | 3 | - | €735,313 | +€735,313 | |
| Stocks | 30/36 | - | €735,313 | +€735,313 | |
| Amounts receivable within one year | 40/41 | €750,808 | €1,156,651 | +€405,843 | +54.1% |
| Trade receivables | 40 | €709,695 | €1,083,075 | +€373,380 | +52.6% |
| Other amounts receivable | 41 | €41,113 | €73,576 | +€32,463 | +79.0% |
| Cash at bank and in hand | 54/58 | €867 | €100,916 | +€100,048 | +11,534% |
| Deferred charges and accrued income | 490/1 | - | €7,280 | +€7,280 | |
| Total equity and liabilities | 10/49 | €1,276,138 | €2,446,117 | +€1.2m | +91.7% |
| Equity | 10/15 | €189,433 | €197,480 | +€8,047 | +4.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €88,663 | €85,668 | -€2,996 | -3.4% |
| Non-distributable reserves | 130/1 | €6,400 | €6,400 | = | 0.0% |
| Legal reserve | 130 | €6,400 | €6,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €73,570 | €70,575 | -€2,996 | -4.1% |
| Distributable reserves | 133 | €8,693 | €8,693 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,270 | €50,313 | +€11,043 | +28.1% |
| Provisions and deferred taxes | 16 | €5,991 | €4,993 | -€999 | -16.7% |
| Deferred taxes | 168 | €5,991 | €4,993 | -€999 | -16.7% |
| Amounts payable | 17/49 | €1,080,714 | €2,243,644 | +€1.2m | +108% |
| Amounts payable within one year | 42/48 | €1,080,357 | €2,243,644 | +€1.2m | +108% |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €28,679 | €908,412 | +€879,733 | +3,068% |
| Suppliers | 440/4 | €28,679 | €908,412 | +€879,733 | +3,068% |
| Other amounts payable | 47/48 | €1,051,679 | €1,085,232 | +€33,553 | +3.2% |
| Accrued charges and deferred income | 492/3 | €356 | - | -€356 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,972 | €80,973 | +€1 | 0.0% |
| Other operating charges | 640/8 | €5,653 | €5,802 | +€150 | +2.6% |
| Gross operating margin | 9900 | €84,694 | €97,605 | +€12,911 | +15.2% |
| Operating profit (loss) | 9901 | -€1,930 | €10,830 | +€12,760 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,406 | €3,782 | +€2,376 | +169% |
| Recurring financial charges | 65 | €1,406 | €3,782 | +€2,376 | +169% |
| Profit (loss) for the period before taxes | 9903 | -€3,337 | €7,049 | +€10,385 | |
| Transfer from deferred taxes | 780 | €999 | €999 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€2,338 | €8,047 | +€10,385 | |
| Transfer from tax-exempt reserves | 789 | €2,996 | €2,996 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €658 | €11,043 | +€10,385 | +1,579% |
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 22 October 2026 via checked.be.