MEMO DU CHENE: 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.
MEMO DU CHENE
Largest movements
- Receivables within one year +€23,391
up €23,391 (+99.5%), from €23,517 to €46,908
of which Trade receivables: +€14,230
- Tangible fixed assets +€23,167
up €23,167 (+34.7%), from €66,824 to €89,990
of which Plant, machinery and equipment: +€29,581
- Stocks and contracts +€5,178
new in 2025: €5,178
- Trade debts +€20,510
up €20,510 (+108%), from €19,038 to €39,548
- Debts after one year +€16,133
up €16,133 (+34.3%), from €46,980 to €63,113
- Profit (loss) carried forward +€7,222
up €7,222 (+91.8%), from €7,869 to €15,090
- Current portion of long-term debt +€3,754
up €3,754 (+36.2%), from €10,374 to €14,128
- Tax, wage and social debts +€3,234
up €3,234 (+147%), from €2,200 to €5,434
of which Taxes: +€3,768
- Purchases and services -€43,053
no longer reported in 2025 (was €43,053)
- Depreciation +€10,505
up €10,505 (+274%), from €3,839 to €14,343
- Gross operating margin -€9,631
down €9,631 (-26.8%), from €35,947 to €26,316
- Financial charges +€3,422
up €3,422 (+411%), from €833 to €4,254
- Staff costs -€1,677
down €1,677 (-86.7%), from €1,934 to €257
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 | €91,460 | €142,479 | +€51,019 | +55.8% |
| Fixed assets | 21/28 | €66,824 | €90,290 | +€23,467 | +35.1% |
| Tangible fixed assets | 22/27 | €66,824 | €89,990 | +€23,167 | +34.7% |
| Plant, machinery and equipment | 23 | €48,652 | €78,233 | +€29,581 | +60.8% |
| Furniture and vehicles | 24 | €18,171 | €11,757 | -€6,414 | -35.3% |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €24,637 | €52,189 | +€27,552 | +112% |
| Stocks and contracts in progress | 3 | - | €5,178 | +€5,178 | |
| Stocks | 30/36 | - | €5,178 | +€5,178 | |
| Amounts receivable within one year | 40/41 | €23,517 | €46,908 | +€23,391 | +99.5% |
| Trade receivables | 40 | €11,982 | €26,213 | +€14,230 | +119% |
| Other amounts receivable | 41 | €11,535 | €20,695 | +€9,160 | +79.4% |
| Cash at bank and in hand | 54/58 | €777 | - | -€777 | |
| Deferred charges and accrued income | 490/1 | €343 | €103 | -€240 | -70.0% |
| Total equity and liabilities | 10/49 | €91,460 | €142,479 | +€51,019 | +55.8% |
| Equity | 10/15 | €12,869 | €20,090 | +€7,222 | +56.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,869 | €15,090 | +€7,222 | +91.8% |
| Amounts payable | 17/49 | €78,592 | €122,389 | +€43,797 | +55.7% |
| Amounts payable after more than one year | 17 | €46,980 | €63,113 | +€16,133 | +34.3% |
| Financial debts | 170/4 | €46,980 | €63,113 | +€16,133 | +34.3% |
| Amounts payable within one year | 42/48 | €31,612 | €59,115 | +€27,503 | +87.0% |
| Current portion of amounts payable after more than one year | 42 | €10,374 | €14,128 | +€3,754 | +36.2% |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €19,038 | €39,548 | +€20,510 | +108% |
| Suppliers | 440/4 | €19,038 | €39,548 | +€20,510 | +108% |
| Taxes, remuneration and social security | 45 | €2,200 | €5,434 | +€3,234 | +147% |
| Taxes | 450/3 | €1,667 | €5,434 | +€3,768 | +226% |
| Remuneration and social security | 454/9 | €533 | - | -€533 | |
| Accrued charges and deferred income | 492/3 | - | €161 | +€161 | |
| Goods, raw materials, services and sundry goods | 60/61 | €43,053 | - | -€43,053 | |
| Remuneration, social security and pensions | 62 | €1,934 | €257 | -€1,677 | -86.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,839 | €14,343 | +€10,505 | +274% |
| Other operating charges | 640/8 | €50 | €126 | +€76 | +153% |
| Non-recurring operating charges | 66A | €20,630 | - | -€20,630 | |
| Gross operating margin | 9900 | €35,947 | €26,316 | -€9,631 | -26.8% |
| Operating profit (loss) | 9901 | €9,494 | €11,590 | +€2,095 | +22.1% |
| Financial income | 75/76B | €309 | €844 | +€535 | +173% |
| Recurring financial income | 75 | €309 | €844 | +€535 | +173% |
| Financial charges | 65/66B | €833 | €4,254 | +€3,422 | +411% |
| Recurring financial charges | 65 | €833 | €4,254 | +€3,422 | +411% |
| Profit (loss) for the period before taxes | 9903 | €8,971 | €8,180 | -€791 | -8.8% |
| Income taxes | 67/77 | €1,102 | €958 | -€144 | -13.1% |
| Profit (loss) for the period | 9904 | €7,869 | €7,222 | -€647 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,869 | €7,222 | -€647 | -8.2% |
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 31 October 2026 via checked.be.