M. CHAVET: 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.
M. CHAVET
Largest movements
- Current investments -€4,108
down €4,108 (-14.1%), from €29,101 to €24,993
- Receivables within one year +€4,031
up €4,031 (+145%), from €2,777 to €6,808
of which Trade receivables: +€4,800
- Tangible fixed assets -€1,499
down €1,499 (-45.5%), from €3,293 to €1,794
of which Plant, machinery and equipment: -€772
- Deferred charges and accrued income -€1,078
down €1,078 (-22.8%), from €4,731 to €3,653
- Tax, wage and social debts -€2,331
down €2,331 (-33.7%), from €6,909 to €4,578
- Trade debts -€689
down €689 (-51.8%), from €1,330 to €640
- Gross operating margin -€4,732
down €4,732 (-61.6%), from €7,681 to €2,949
- Other operating charges +€134
up €134 (+22.9%), from €585 to €718
- Depreciation -€103
down €103 (-6.4%), from €1,602 to €1,499
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 | €44,871 | €42,301 | -€2,570 | -5.7% |
| Fixed assets | 21/28 | €3,293 | €1,794 | -€1,499 | -45.5% |
| Tangible fixed assets | 22/27 | €3,293 | €1,794 | -€1,499 | -45.5% |
| Plant, machinery and equipment | 23 | €2,450 | €1,678 | -€772 | -31.5% |
| Furniture and vehicles | 24 | €843 | €116 | -€727 | -86.2% |
| Current assets | 29/58 | €41,578 | €40,507 | -€1,071 | -2.6% |
| Stocks and contracts in progress | 3 | €4,833 | €4,917 | +€84 | +1.7% |
| Stocks | 30/36 | €4,833 | €4,917 | +€84 | +1.7% |
| Amounts receivable within one year | 40/41 | €2,777 | €6,808 | +€4,031 | +145% |
| Trade receivables | 40 | €538 | €5,338 | +€4,800 | +891% |
| Other amounts receivable | 41 | €2,238 | €1,469 | -€769 | -34.4% |
| Current investments | 50/53 | €29,101 | €24,993 | -€4,108 | -14.1% |
| Cash at bank and in hand | 54/58 | €136 | €136 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €4,731 | €3,653 | -€1,078 | -22.8% |
| Total equity and liabilities | 10/49 | €44,871 | €42,301 | -€2,570 | -5.7% |
| Equity | 10/15 | €29,981 | €30,159 | +€178 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,852 | €20,852 | = | 0.0% |
| Distributable reserves | 133 | €20,852 | €20,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,471 | -€9,293 | +€178 | +1.9% |
| Amounts payable | 17/49 | €14,890 | €12,143 | -€2,748 | -18.5% |
| Amounts payable within one year | 42/48 | €14,890 | €12,143 | -€2,748 | -18.5% |
| Trade debts | 44 | €1,330 | €640 | -€689 | -51.8% |
| Suppliers | 440/4 | €1,330 | €640 | -€689 | -51.8% |
| Taxes, remuneration and social security | 45 | €6,909 | €4,578 | -€2,331 | -33.7% |
| Taxes | 450/3 | €6,909 | €4,578 | -€2,331 | -33.7% |
| Other amounts payable | 47/48 | €6,651 | €6,924 | +€273 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,602 | €1,499 | -€103 | -6.4% |
| Other operating charges | 640/8 | €585 | €718 | +€134 | +22.9% |
| Gross operating margin | 9900 | €7,681 | €2,949 | -€4,732 | -61.6% |
| Operating profit (loss) | 9901 | €5,494 | €732 | -€4,762 | -86.7% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €370 | €422 | +€52 | +14.2% |
| Recurring financial charges | 65 | €370 | €422 | +€52 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €5,125 | €310 | -€4,815 | -94.0% |
| Income taxes | 67/77 | €181 | €132 | -€49 | -27.1% |
| Profit (loss) for the period | 9904 | €4,944 | €178 | -€4,766 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,944 | €178 | -€4,766 | -96.4% |
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 18 October 2026 via checked.be.