LE CHAF: 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.
LE CHAF
Largest movements
- Current investments -€600,000
no longer reported in 2025 (was €600,000)
- Cash +€320,235
up €320,235 (+191%), from €167,954 to €488,188
mainly Current investments (+€600,000) and Contributions, distributions and other (+€573,753)
- Receivables within one year +€126,452
up €126,452 (+45.2%), from €279,689 to €406,141
of which Other amounts receivable: +€138,049
- Tangible fixed assets +€55,038
up €55,038 (+3.2%), from €1.7m to €1.8m
of which Assets under construction and advance payments: +€149,967
- Accrued charges and deferred income -€614,970
down €614,970 (-43.0%), from €1.4m to €814,668
- Investment grants +€548,753
up €548,753 (+848%), from €64,700 to €613,453
- Debts within one year -€143,795
down €143,795 (-14.6%), from €984,771 to €840,976
of which Trade debts: -€176,994
- Profit (loss) carried forward +€137,954
up €137,954 (+59.0%), from -€234,010 to -€96,056
- Debts after one year -€45,973
down €45,973 (-8.4%), from €547,793 to €501,820
- Gross operating margin +€460,246
up €460,246 (+13.5%), from €3.4m to €3.9m
- Purchases and services -€444,023
no longer reported in 2025 (was €444,023)
- Staff costs +€253,827
up €253,827 (+9.1%), from €2.8m to €3.0m
- Other operating charges +€74,813
up €74,813 (+14.7%), from €507,845 to €582,658
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 | €2,792,891 | €2,699,861 | -€93,030 | -3.3% |
| Fixed assets | 21/28 | €1,715,902 | €1,769,940 | +€54,038 | +3.1% |
| Tangible fixed assets | 22/27 | €1,714,902 | €1,769,940 | +€55,038 | +3.2% |
| Land and buildings | 22 | €136,997 | €118,293 | -€18,704 | -13.7% |
| Plant, machinery and equipment | 23 | €465,437 | €401,160 | -€64,276 | -13.8% |
| Furniture and vehicles | 24 | €31,548 | €19,598 | -€11,949 | -37.9% |
| Assets under construction and advance payments | 27 | €1,080,921 | €1,230,888 | +€149,967 | +13.9% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €1,076,989 | €929,921 | -€147,068 | -13.7% |
| Amounts receivable within one year | 40/41 | €279,689 | €406,141 | +€126,452 | +45.2% |
| Trade receivables | 40 | €65,343 | €53,746 | -€11,597 | -17.7% |
| Other amounts receivable | 41 | €214,346 | €352,395 | +€138,049 | +64.4% |
| Current investments | 50/53 | €600,000 | - | -€600,000 | |
| Cash at bank and in hand | 54/58 | €167,954 | €488,188 | +€320,235 | +191% |
| Deferred charges and accrued income | 490/1 | €29,347 | €35,592 | +€6,246 | +21.3% |
| Total equity and liabilities | 10/49 | €2,792,891 | €2,699,861 | -€93,030 | -3.3% |
| Equity | 10/15 | -€169,310 | €542,397 | +€711,707 | |
| Contributions | 10/11 | - | €25,000 | +€25,000 | |
| Capital | 10 | - | €25,000 | +€25,000 | |
| Profit (loss) carried forward | 14 | -€234,010 | -€96,056 | +€137,954 | +59.0% |
| Investment grants | 15 | €64,700 | €613,453 | +€548,753 | +848% |
| Amounts payable | 17/49 | €2,962,202 | €2,157,464 | -€804,738 | -27.2% |
| Amounts payable after more than one year | 17 | €547,793 | €501,820 | -€45,973 | -8.4% |
| Financial debts | 170/4 | €547,793 | €501,820 | -€45,973 | -8.4% |
| Amounts payable within one year | 42/48 | €984,771 | €840,976 | -€143,795 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €45,643 | €45,973 | +€330 | +0.7% |
| Trade debts | 44 | €214,543 | €37,548 | -€176,994 | -82.5% |
| Suppliers | 440/4 | €214,543 | €37,548 | -€176,994 | -82.5% |
| Taxes, remuneration and social security | 45 | €461,616 | €452,256 | -€9,359 | -2.0% |
| Taxes | 450/3 | €71,283 | €60,521 | -€10,761 | -15.1% |
| Remuneration and social security | 454/9 | €390,333 | €391,735 | +€1,402 | +0.4% |
| Accrued charges and deferred income | 492/3 | €1,429,638 | €814,668 | -€614,970 | -43.0% |
| Membership fees, donations, legacies and grants | 73 | €3,840,675 | - | -€3.8m | |
| Non-recurring operating income | 76A | €1,426 | €44,960 | +€43,533 | +3,052% |
| Goods, raw materials, services and sundry goods | 60/61 | €444,023 | - | -€444,023 | |
| Remuneration, social security and pensions | 62 | €2,788,041 | €3,041,868 | +€253,827 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,732 | €108,735 | -€4,997 | -4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,756 | -€19,521 | -€32,277 | |
| Other operating charges | 640/8 | €507,845 | €582,658 | +€74,813 | +14.7% |
| Non-recurring operating charges | 66A | €18,700 | €4,146 | -€14,554 | -77.8% |
| Gross operating margin | 9900 | €3,398,078 | €3,858,324 | +€460,246 | +13.5% |
| Operating profit (loss) | 9901 | -€42,996 | €140,438 | +€183,434 | |
| Financial income | 75/76B | €13,753 | €11,422 | -€2,331 | -16.9% |
| Recurring financial income | 75 | €13,753 | €11,422 | -€2,331 | -16.9% |
| Financial charges | 65/66B | €8,757 | €12,966 | +€4,209 | +48.1% |
| Recurring financial charges | 65 | €8,757 | €12,966 | +€4,209 | +48.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€38,001 | €138,893 | +€176,894 | |
| Income taxes | 67/77 | - | €939 | +€939 | |
| Profit (loss) for the period | 9904 | -€38,001 | €137,954 | +€175,955 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,001 | €137,954 | +€175,955 |
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 27 October 2026 via checked.be.