NEW CHINA: 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.
NEW CHINA
Largest movements
- Tangible fixed assets +€10,935
up €10,935 (+42.5%), from €25,719 to €36,655
of which Other tangible fixed assets: +€11,023
- Receivables within one year +€7,353
up €7,353 (+333%), from €2,207 to €9,559
of which Other amounts receivable: +€5,622
- Cash -€2,683
down €2,683 (-2.6%), from €102,918 to €100,236
mainly Investment in fixed assets (net) (-€16,596) and Tax, wage and social debts (-€15,748)
- Reserves +€27,000
up €27,000 (+35.1%), from €77,000 to €104,000
- Tax, wage and social debts -€15,748
down €15,748 (-83.3%), from €18,914 to €3,166
- Other debts +€3,470
up €3,470 (+61.9%), from €5,601 to €9,071
- Current portion of long-term debt -€1,734
no longer reported in 2025 (was €1,734)
- Trade debts +€1,519
up €1,519 (+32.3%), from €4,699 to €6,219
- Gross operating margin -€8,280
down €8,280 (-14.8%), from €56,015 to €47,736
- Taxes -€3,915
down €3,915 (-27.9%), from €14,055 to €10,140
- Depreciation +€1,218
up €1,218 (+27.4%), from €4,442 to €5,660
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 | €133,352 | €148,580 | +€15,229 | +11.4% |
| Fixed assets | 21/28 | €25,719 | €36,655 | +€10,935 | +42.5% |
| Tangible fixed assets | 22/27 | €25,719 | €36,655 | +€10,935 | +42.5% |
| Plant, machinery and equipment | 23 | €3,029 | €1,824 | -€1,205 | -39.8% |
| Furniture and vehicles | 24 | €684 | €1,802 | +€1,117 | +163% |
| Other tangible fixed assets | 26 | €22,006 | €33,029 | +€11,023 | +50.1% |
| Current assets | 29/58 | €107,632 | €111,926 | +€4,294 | +4.0% |
| Stocks and contracts in progress | 3 | €1,387 | €957 | -€429 | -31.0% |
| Stocks | 30/36 | €1,387 | €957 | -€429 | -31.0% |
| Amounts receivable within one year | 40/41 | €2,207 | €9,559 | +€7,353 | +333% |
| Trade receivables | 40 | €1,442 | €3,173 | +€1,731 | +120% |
| Other amounts receivable | 41 | €764 | €6,386 | +€5,622 | +735% |
| Cash at bank and in hand | 54/58 | €102,918 | €100,236 | -€2,683 | -2.6% |
| Deferred charges and accrued income | 490/1 | €1,121 | €1,174 | +€53 | +4.7% |
| Total equity and liabilities | 10/49 | €133,352 | €148,580 | +€15,229 | +11.4% |
| Equity | 10/15 | €102,403 | €130,125 | +€27,722 | +27.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €77,000 | €104,000 | +€27,000 | +35.1% |
| Distributable reserves | 133 | €77,000 | €104,000 | +€27,000 | +35.1% |
| Profit (loss) carried forward | 14 | €6,811 | €7,533 | +€722 | +10.6% |
| Amounts payable | 17/49 | €30,949 | €18,455 | -€12,493 | -40.4% |
| Amounts payable within one year | 42/48 | €30,949 | €18,455 | -€12,493 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | €1,734 | - | -€1,734 | |
| Trade debts | 44 | €4,699 | €6,219 | +€1,519 | +32.3% |
| Suppliers | 440/4 | €4,699 | €6,219 | +€1,519 | +32.3% |
| Taxes, remuneration and social security | 45 | €18,914 | €3,166 | -€15,748 | -83.3% |
| Taxes | 450/3 | €18,914 | €3,166 | -€15,748 | -83.3% |
| Other amounts payable | 47/48 | €5,601 | €9,071 | +€3,470 | +61.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,442 | €5,660 | +€1,218 | +27.4% |
| Other operating charges | 640/8 | €1,982 | €1,995 | +€13 | +0.6% |
| Gross operating margin | 9900 | €56,015 | €47,736 | -€8,280 | -14.8% |
| Operating profit (loss) | 9901 | €49,591 | €40,080 | -€9,511 | -19.2% |
| Financial income | 75/76B | €48 | €1 | -€46 | -97.2% |
| Recurring financial income | 75 | €48 | €1 | -€46 | -97.2% |
| Financial charges | 65/66B | €1,713 | €2,219 | +€506 | +29.5% |
| Recurring financial charges | 65 | €1,713 | €2,219 | +€506 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | €47,925 | €37,862 | -€10,063 | -21.0% |
| Income taxes | 67/77 | €14,055 | €10,140 | -€3,915 | -27.9% |
| Profit (loss) for the period | 9904 | €33,871 | €27,722 | -€6,148 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,871 | €27,722 | -€6,148 | -18.2% |
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 27 October 2026 via checked.be.