PRO - CHAPES: what changed
Two fiscal 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.
PRO - CHAPES
Largest movements
- Tangible fixed assets +€307,427
up €307,427 (+73.5%), from €418,431 to €725,858
of which Land and buildings: +€289,646
- Receivables within one year -€58,311
down €58,311 (-14.5%), from €401,231 to €342,920
of which Trade receivables: -€56,101
- Cash +€36,035
up €36,035 (+92.5%), from €38,958 to €74,993
mainly Debts after one year (+€163,065) and Tax, wage and social debts (+€148,393)
- Formation expenses -€18,823
down €18,823 (-33.3%), from €56,468 to €37,645
- Stocks and contracts +€17,722
up €17,722 (+7.5%), from €234,753 to €252,475
- Debts after one year +€163,065
up €163,065 (+233.0%), from €69,985 to €233,050
- Tax, wage and social debts +€148,393
up €148,393 (+89.0%), from €166,798 to €315,192
of which Remuneration and social security: +€155,942
- Other debts +€53,690
up €53,690 (+85.5%), from €62,776 to €116,466
- Short-term financial debts -€29,976
down €29,976 (-10.2%), from €294,387 to €264,411
- Trade debts -€26,888
down €26,888 (-5.8%), from €462,154 to €435,266
- Gross operating margin -€104,803
down €104,803 (-8.3%), from €1.3m to €1.2m
- Staff costs -€27,759
down €27,759 (-2.6%), from €1.1m to €1.0m
- Other operating charges -€19,204
down €19,204 (-43.0%), from €44,647 to €25,443
- Depreciation +€15,437
up €15,437 (+23.1%), from €66,715 to €82,152
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.
Cash bridge derived
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 | €1,193,168 | €1,488,694 | +€295,526 | +24.8% |
| Formation expenses | 20 | €56,468 | €37,645 | -€18,823 | -33.3% |
| Fixed assets | 21/28 | €427,931 | €747,680 | +€319,748 | +74.7% |
| Intangible fixed assets | 21 | €7,889 | €19,011 | +€11,122 | +141.0% |
| Tangible fixed assets | 22/27 | €418,431 | €725,858 | +€307,427 | +73.5% |
| Land and buildings | 22 | €323,950 | €613,595 | +€289,646 | +89.4% |
| Plant, machinery and equipment | 23 | €57,988 | €48,648 | -€9,340 | -16.1% |
| Furniture and vehicles | 24 | €36,494 | €63,614 | +€27,121 | +74.3% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,611 | €2,811 | +€1,200 | +74.5% |
| Current assets | 29/58 | €708,768 | €703,369 | -€5,400 | -0.8% |
| Stocks and contracts in progress | 3 | €234,753 | €252,475 | +€17,722 | +7.5% |
| Stocks | 30/36 | €234,753 | €252,475 | +€17,722 | +7.5% |
| Amounts receivable within one year | 40/41 | €401,231 | €342,920 | -€58,311 | -14.5% |
| Trade receivables | 40 | €394,569 | €338,467 | -€56,101 | -14.2% |
| Other amounts receivable | 41 | €6,662 | €4,453 | -€2,209 | -33.2% |
| Current investments | 50/53 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €38,958 | €74,993 | +€36,035 | +92.5% |
| Deferred charges and accrued income | 490/1 | €33,827 | €32,980 | -€846 | -2.5% |
| Total equity and liabilities | 10/49 | €1,193,168 | €1,488,694 | +€295,526 | +24.8% |
| Equity | 10/15 | €69,795 | €47,335 | -€22,459 | -32.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,943 | -€3,166 | -€21,109 | |
| Investment grants | 15 | €31,401 | €30,050 | -€1,351 | -4.3% |
| Amounts payable | 17/49 | €1,123,373 | €1,441,359 | +€317,986 | +28.3% |
| Amounts payable after more than one year | 17 | €69,985 | €233,050 | +€163,065 | +233.0% |
| Financial debts | 170/4 | €69,985 | €233,050 | +€163,065 | +233.0% |
| Amounts payable within one year | 42/48 | €1,043,217 | €1,198,289 | +€155,072 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €56,811 | €66,954 | +€10,143 | +17.9% |
| Financial debts | 43 | €294,387 | €264,411 | -€29,976 | -10.2% |
| Credit institutions | 430/8 | €294,387 | €264,411 | -€29,976 | -10.2% |
| Trade debts | 44 | €462,154 | €435,266 | -€26,888 | -5.8% |
| Suppliers | 440/4 | €462,154 | €435,266 | -€26,888 | -5.8% |
| Advances received on contracts in progress | 46 | €290 | - | -€290 | |
| Taxes, remuneration and social security | 45 | €166,798 | €315,192 | +€148,393 | +89.0% |
| Taxes | 450/3 | €41,237 | €33,687 | -€7,549 | -18.3% |
| Remuneration and social security | 454/9 | €125,562 | €281,504 | +€155,942 | +124.2% |
| Other amounts payable | 47/48 | €62,776 | €116,466 | +€53,690 | +85.5% |
| Accrued charges and deferred income | 492/3 | €10,171 | €10,020 | -€151 | -1.5% |
| Non-recurring operating income | 76A | €2,000 | €4,192 | +€2,192 | +109.6% |
| Remuneration, social security and pensions | 62 | €1,059,011 | €1,031,252 | -€27,759 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,715 | €82,152 | +€15,437 | +23.1% |
| Other operating charges | 640/8 | €44,647 | €25,443 | -€19,204 | -43.0% |
| Non-recurring operating charges | 66A | €1,884 | €1,712 | -€173 | -9.2% |
| Gross operating margin | 9900 | €1,264,295 | €1,159,492 | -€104,803 | -8.3% |
| Operating profit (loss) | 9901 | €92,038 | €18,933 | -€73,105 | -79.4% |
| Financial income | 75/76B | €1,709 | €7,726 | +€6,017 | +352.1% |
| Recurring financial income | 75 | €1,709 | €7,726 | +€6,017 | +352.1% |
| Financial charges | 65/66B | €49,640 | €47,488 | -€2,152 | -4.3% |
| Recurring financial charges | 65 | €49,640 | €47,488 | -€2,152 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €44,107 | -€20,828 | -€64,935 | |
| Income taxes | 67/77 | €10,450 | €281 | -€10,169 | -97.3% |
| Profit (loss) for the period | 9904 | €33,657 | -€21,109 | -€54,766 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,657 | -€21,109 | -€54,766 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.