PROXY ROI CHEVALIER: 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.
PROXY ROI CHEVALIER
Largest movements
- Cash +€209,125
up €209,125 (+30.0%), from €696,496 to €905,621
mainly Net result for the year (+€433,507) and Tax, wage and social debts (+€190,951)
- Stocks and contracts +€158,576
up €158,576 (+52.9%), from €300,032 to €458,608
- Tangible fixed assets -€60,678
down €60,678 (-11.0%), from €550,534 to €489,857
of which Plant, machinery and equipment: -€40,415
- Profit (loss) carried forward +€433,507
up €433,507 (+84.3%), from €514,232 to €947,740
- Tax, wage and social debts +€190,951
up €190,951 (+68.4%), from €279,031 to €469,982
of which Taxes: +€165,699
- Other debts -€138,161
down €138,161 (-98.1%), from €140,841 to €2,680
- Trade debts -€92,992
down €92,992 (-8.9%), from €1.0m to €952,125
- Accrued charges and deferred income -€42,778
down €42,778 (-79.0%), from €54,155 to €11,377
- Gross operating margin +€391,457
up €391,457 (+19.6%), from €2.0m to €2.4m
- Taxes +€98,858
up €98,858 (+149%), from €66,138 to €164,996
- Staff costs +€55,988
up €55,988 (+3.4%), from €1.6m to €1.7m
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 | €3,120,272 | €3,421,365 | +€301,094 | +9.6% |
| Fixed assets | 21/28 | €550,534 | €489,857 | -€60,678 | -11.0% |
| Tangible fixed assets | 22/27 | €550,534 | €489,857 | -€60,678 | -11.0% |
| Plant, machinery and equipment | 23 | €305,724 | €265,309 | -€40,415 | -13.2% |
| Furniture and vehicles | 24 | €72,820 | €82,456 | +€9,636 | +13.2% |
| Other tangible fixed assets | 26 | €171,990 | €142,092 | -€29,899 | -17.4% |
| Current assets | 29/58 | €2,569,737 | €2,931,509 | +€361,772 | +14.1% |
| Stocks and contracts in progress | 3 | €300,032 | €458,608 | +€158,576 | +52.9% |
| Stocks | 30/36 | €300,032 | €458,608 | +€158,576 | +52.9% |
| Amounts receivable within one year | 40/41 | €786,610 | €762,089 | -€24,521 | -3.1% |
| Trade receivables | 40 | €111,018 | €89,292 | -€21,727 | -19.6% |
| Other amounts receivable | 41 | €675,591 | €672,797 | -€2,795 | -0.4% |
| Current investments | 50/53 | €786,600 | €786,600 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €696,496 | €905,621 | +€209,125 | +30.0% |
| Deferred charges and accrued income | 490/1 | - | €18,591 | +€18,591 | |
| Total equity and liabilities | 10/49 | €3,120,272 | €3,421,365 | +€301,094 | +9.6% |
| Equity | 10/15 | €1,515,060 | €1,947,758 | +€432,698 | +28.6% |
| Contributions | 10/11 | €192,300 | €192,300 | = | 0.0% |
| Capital | 10 | €192,300 | €192,300 | = | 0.0% |
| Issued capital | 100 | €192,300 | €192,300 | = | 0.0% |
| Reserves | 13 | €805,830 | €805,830 | = | 0.0% |
| Non-distributable reserves | 130/1 | €805,830 | €805,830 | = | 0.0% |
| Legal reserve | 130 | €19,230 | €19,230 | = | 0.0% |
| Own shares acquired | 1312 | €786,600 | €786,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €514,232 | €947,740 | +€433,507 | +84.3% |
| Investment grants | 15 | €2,697 | €1,888 | -€809 | -30.0% |
| Amounts payable | 17/49 | €1,605,212 | €1,473,608 | -€131,604 | -8.2% |
| Amounts payable after more than one year | 17 | €37,445 | - | -€37,445 | |
| Financial debts | 170/4 | €37,445 | - | -€37,445 | |
| Amounts payable within one year | 42/48 | €1,513,612 | €1,462,231 | -€51,382 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €48,624 | €37,445 | -€11,179 | -23.0% |
| Trade debts | 44 | €1,045,117 | €952,125 | -€92,992 | -8.9% |
| Suppliers | 440/4 | €1,045,117 | €952,125 | -€92,992 | -8.9% |
| Taxes, remuneration and social security | 45 | €279,031 | €469,982 | +€190,951 | +68.4% |
| Taxes | 450/3 | €74,991 | €240,690 | +€165,699 | +221% |
| Remuneration and social security | 454/9 | €204,040 | €229,291 | +€25,252 | +12.4% |
| Other amounts payable | 47/48 | €140,841 | €2,680 | -€138,161 | -98.1% |
| Accrued charges and deferred income | 492/3 | €54,155 | €11,377 | -€42,778 | -79.0% |
| Remuneration, social security and pensions | 62 | €1,643,535 | €1,699,523 | +€55,988 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,208 | €96,494 | -€11,714 | -10.8% |
| Other operating charges | 640/8 | €2,185 | €21,530 | +€19,344 | +885% |
| Gross operating margin | 9900 | €1,998,456 | €2,389,913 | +€391,457 | +19.6% |
| Operating profit (loss) | 9901 | €244,528 | €572,366 | +€327,838 | +134% |
| Financial income | 75/76B | €50,736 | €37,274 | -€13,462 | -26.5% |
| Recurring financial income | 75 | €50,736 | €37,274 | -€13,462 | -26.5% |
| Financial charges | 65/66B | €19,426 | €11,137 | -€8,290 | -42.7% |
| Recurring financial charges | 65 | €19,426 | €11,137 | -€8,290 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | €275,838 | €598,503 | +€322,666 | +117% |
| Income taxes | 67/77 | €66,138 | €164,996 | +€98,858 | +149% |
| Profit (loss) for the period | 9904 | €209,700 | €433,507 | +€223,808 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €209,700 | €433,507 | +€223,808 | +107% |
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 23 October 2026 via checked.be.