FLORIN CHELEA: what changed
FLORIN CHELEA
Largest movements
- Receivables within one year -€69,023
down €69,023 (-14.4%), from €479,554 to €410,532
of which Other amounts receivable: -€274,860
- Cash -€42,938
down €42,938 (-68.9%), from €62,301 to €19,363
mainly Trade debts (-€221,679) and Tax, wage and social debts (-€56,186)
- Tangible fixed assets -€33,085
down €33,085 (-18.5%), from €178,829 to €145,744
of which Plant, machinery and equipment: -€34,245
- Stocks and contracts -€10,000
down €10,000 (-16.7%), from €60,000 to €50,000
- Trade debts -€221,679
down €221,679 (-60.4%), from €366,804 to €145,125
- Tax, wage and social debts -€56,186
down €56,186 (-71.8%), from €78,253 to €22,066
of which Taxes: -€37,653
- Profit (loss) carried forward +€36,650
up €36,650 (+26.1%), from €140,643 to €177,293
- Other debts +€36,380
new in 2025: €36,380
- Current portion of long-term debt +€30,432
up €30,432 (+189%), from €16,079 to €46,511
- Gross operating margin +€35,583
up €35,583 (+15.0%), from €238,009 to €273,592
- Depreciation +€13,093
up €13,093 (+31.2%), from €41,931 to €55,024
- Financial charges +€10,328
up €10,328 (+105%), from €9,875 to €20,203
- Taxes +€7,624
up €7,624 (+45.3%), from €16,814 to €24,438
- Other operating charges +€5,817
up €5,817 (+50.3%), from €11,571 to €17,389
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €821,175 | €661,742 | -€159,434 | -19.4% |
| Fixed assets | 21/28 | €210,542 | €177,457 | -€33,085 | -15.7% |
| Tangible fixed assets | 22/27 | €178,829 | €145,744 | -€33,085 | -18.5% |
| Plant, machinery and equipment | 23 | €122,626 | €88,381 | -€34,245 | -27.9% |
| Furniture and vehicles | 24 | €15,033 | €12,897 | -€2,136 | -14.2% |
| Other tangible fixed assets | 26 | €41,170 | €44,466 | +€3,297 | +8.0% |
| Financial fixed assets | 28 | €31,713 | €31,713 | = | 0.0% |
| Current assets | 29/58 | €610,633 | €484,284 | -€126,349 | -20.7% |
| Stocks and contracts in progress | 3 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Stocks | 30/36 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Amounts receivable within one year | 40/41 | €479,554 | €410,532 | -€69,023 | -14.4% |
| Trade receivables | 40 | €192,415 | €398,252 | +€205,837 | +107% |
| Other amounts receivable | 41 | €287,140 | €12,280 | -€274,860 | -95.7% |
| Cash at bank and in hand | 54/58 | €62,301 | €19,363 | -€42,938 | -68.9% |
| Deferred charges and accrued income | 490/1 | €8,778 | €4,390 | -€4,388 | -50.0% |
| Total equity and liabilities | 10/49 | €821,175 | €661,742 | -€159,434 | -19.4% |
| Equity | 10/15 | €272,643 | €309,293 | +€36,650 | +13.4% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,643 | €177,293 | +€36,650 | +26.1% |
| Amounts payable | 17/49 | €548,532 | €352,448 | -€196,084 | -35.7% |
| Amounts payable after more than one year | 17 | €83,921 | €96,089 | +€12,168 | +14.5% |
| Financial debts | 170/4 | €83,921 | €96,089 | +€12,168 | +14.5% |
| Amounts payable within one year | 42/48 | €461,136 | €253,012 | -€208,125 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €16,079 | €46,511 | +€30,432 | +189% |
| Trade debts | 44 | €366,804 | €145,125 | -€221,679 | -60.4% |
| Suppliers | 440/4 | €366,804 | €145,125 | -€221,679 | -60.4% |
| Advances received on contracts in progress | 46 | - | €2,929 | +€2,929 | |
| Taxes, remuneration and social security | 45 | €78,253 | €22,066 | -€56,186 | -71.8% |
| Taxes | 450/3 | €55,646 | €17,994 | -€37,653 | -67.7% |
| Remuneration and social security | 454/9 | €22,606 | €4,072 | -€18,534 | -82.0% |
| Other amounts payable | 47/48 | - | €36,380 | +€36,380 | |
| Accrued charges and deferred income | 492/3 | €3,475 | €3,348 | -€127 | -3.7% |
| Remuneration, social security and pensions | 62 | €119,918 | €121,108 | +€1,190 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,931 | €55,024 | +€13,093 | +31.2% |
| Other operating charges | 640/8 | €11,571 | €17,389 | +€5,817 | +50.3% |
| Gross operating margin | 9900 | €238,009 | €273,592 | +€35,583 | +15.0% |
| Operating profit (loss) | 9901 | €64,589 | €80,072 | +€15,483 | +24.0% |
| Financial income | 75/76B | €4,727 | €1,219 | -€3,507 | -74.2% |
| Recurring financial income | 75 | €4,727 | €1,219 | -€3,507 | -74.2% |
| Financial charges | 65/66B | €9,875 | €20,203 | +€10,328 | +105% |
| Recurring financial charges | 65 | €9,875 | €20,203 | +€10,328 | +105% |
| Profit (loss) for the period before taxes | 9903 | €59,440 | €61,088 | +€1,648 | +2.8% |
| Income taxes | 67/77 | €16,814 | €24,438 | +€7,624 | +45.3% |
| Profit (loss) for the period | 9904 | €42,626 | €36,650 | -€5,976 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,626 | €36,650 | -€5,976 | -14.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.