LE CHEVAL DE JADE: 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 CHEVAL DE JADE
Largest movements
- Stocks and contracts -€9,401
down €9,401 (-31.1%), from €30,186 to €20,785
- Tangible fixed assets -€6,643
down €6,643 (-14.8%), from €44,944 to €38,302
of which Plant, machinery and equipment: -€4,807
- Cash -€2,818
down €2,818 (-61.1%), from €4,610 to €1,792
mainly Net result for the year (-€13,150) and Trade debts (-€7,056)
- Receivables within one year +€1,720
new in 2025: €1,720
of which Trade receivables: +€1,385
- Profit (loss) carried forward -€13,150
down €13,150 (-14.9%), from -€88,465 to -€101,615
- Trade debts -€7,056
down €7,056 (-72.1%), from €9,793 to €2,736
- Other debts +€4,329
up €4,329 (+4.9%), from €87,911 to €92,240
- Tax, wage and social debts -€3,676
down €3,676 (-88.5%), from €4,153 to €477
of which Taxes: -€3,676
- Short-term financial debts +€2,412
up €2,412 (+2,304%), from €105 to €2,516
- Gross operating margin -€14,975
down €14,975 (-15.9%), from €94,307 to €79,332
- Staff costs +€6,797
up €6,797 (+9.2%), from €73,612 to €80,410
- Other operating charges -€3,502
down €3,502 (-43.5%), from €8,060 to €4,558
- Financial charges -€1,226
down €1,226 (-62.6%), from €1,958 to €731
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 | €81,667 | €64,526 | -€17,141 | -21.0% |
| Fixed assets | 21/28 | €46,871 | €40,228 | -€6,643 | -14.2% |
| Tangible fixed assets | 22/27 | €44,944 | €38,302 | -€6,643 | -14.8% |
| Land and buildings | 22 | €10,861 | €9,025 | -€1,836 | -16.9% |
| Plant, machinery and equipment | 23 | €34,084 | €29,277 | -€4,807 | -14.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,927 | €1,927 | = | 0.0% |
| Current assets | 29/58 | €34,796 | €24,298 | -€10,499 | -30.2% |
| Stocks and contracts in progress | 3 | €30,186 | €20,785 | -€9,401 | -31.1% |
| Stocks | 30/36 | €30,186 | €20,785 | -€9,401 | -31.1% |
| Amounts receivable within one year | 40/41 | - | €1,720 | +€1,720 | |
| Trade receivables | 40 | - | €1,385 | +€1,385 | |
| Other amounts receivable | 41 | - | €335 | +€335 | |
| Cash at bank and in hand | 54/58 | €4,610 | €1,792 | -€2,818 | -61.1% |
| Total equity and liabilities | 10/49 | €81,667 | €64,526 | -€17,141 | -21.0% |
| Equity | 10/15 | -€20,294 | -€33,444 | -€13,150 | -64.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,465 | -€101,615 | -€13,150 | -14.9% |
| Amounts payable | 17/49 | €101,961 | €97,970 | -€3,991 | -3.9% |
| Amounts payable within one year | 42/48 | €101,961 | €97,970 | -€3,991 | -3.9% |
| Financial debts | 43 | €105 | €2,516 | +€2,412 | +2,304% |
| Credit institutions | 430/8 | €105 | €2,516 | +€2,412 | +2,304% |
| Trade debts | 44 | €9,793 | €2,736 | -€7,056 | -72.1% |
| Suppliers | 440/4 | €9,793 | €2,736 | -€7,056 | -72.1% |
| Taxes, remuneration and social security | 45 | €4,153 | €477 | -€3,676 | -88.5% |
| Taxes | 450/3 | €4,153 | €477 | -€3,676 | -88.5% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €87,911 | €92,240 | +€4,329 | +4.9% |
| Non-recurring operating income | 76A | €7,735 | - | -€7,735 | |
| Remuneration, social security and pensions | 62 | €73,612 | €80,410 | +€6,797 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,608 | €6,643 | +€35 | +0.5% |
| Other operating charges | 640/8 | €8,060 | €4,558 | -€3,502 | -43.5% |
| Gross operating margin | 9900 | €94,307 | €79,332 | -€14,975 | -15.9% |
| Operating profit (loss) | 9901 | €6,027 | -€12,278 | -€18,305 | |
| Financial income | 75/76B | €83 | - | -€83 | |
| Recurring financial income | 75 | €83 | - | -€83 | |
| Financial charges | 65/66B | €1,958 | €731 | -€1,226 | -62.6% |
| Recurring financial charges | 65 | €1,958 | €731 | -€1,226 | -62.6% |
| Profit (loss) for the period before taxes | 9903 | €4,152 | -€13,009 | -€17,162 | |
| Income taxes | 67/77 | - | €141 | +€141 | |
| Profit (loss) for the period | 9904 | €4,152 | -€13,150 | -€17,303 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,152 | -€13,150 | -€17,303 |
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 25 October 2026 via checked.be.