The Chase: 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.
The Chase
Largest movements
- Receivables within one year +€35,291
up €35,291 (+78.9%), from €44,710 to €80,001
of which Other amounts receivable: +€30,792
- Tangible fixed assets -€15,874
down €15,874 (-40.8%), from €38,925 to €23,051
- Cash -€3,176
down €3,176 (-56.5%), from €5,619 to €2,442
mainly Receivables within one year (-€35,291) and Debts after one year (-€15,733)
- Deferred charges and accrued income +€2,501
up €2,501 (+200.8%), from €1,245 to €3,746
- Reserves +€16,919
up €16,919 (+369.8%), from €4,575 to €21,494
- Debts after one year -€15,733
down €15,733 (-65.8%), from €23,893 to €8,160
- Other debts +€10,000
new in 2025: €10,000
- Trade debts +€7,079
up €7,079 (+614.0%), from €1,153 to €8,231
- Gross operating margin +€44,832
up €44,832 (+8020.1%), from €559 to €45,391
- Financial income +€2,496
new in 2025: €2,496
- Other operating charges -€928
down €928 (-37.1%), from €2,498 to €1,570
- Taxes +€845
up €845 (+405.5%), from €208 to €1,054
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 | €92,499 | €111,240 | +€18,742 | +20.3% |
| Fixed assets | 21/28 | €38,925 | €23,051 | -€15,874 | -40.8% |
| Tangible fixed assets | 22/27 | €38,925 | €23,051 | -€15,874 | -40.8% |
| Furniture and vehicles | 24 | €38,925 | €23,051 | -€15,874 | -40.8% |
| Current assets | 29/58 | €53,574 | €88,190 | +€34,616 | +64.6% |
| Amounts receivable after more than one year | 29 | €2,000 | €2,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €44,710 | €80,001 | +€35,291 | +78.9% |
| Trade receivables | 40 | €15,826 | €20,325 | +€4,499 | +28.4% |
| Other amounts receivable | 41 | €28,884 | €59,675 | +€30,792 | +106.6% |
| Cash at bank and in hand | 54/58 | €5,619 | €2,442 | -€3,176 | -56.5% |
| Deferred charges and accrued income | 490/1 | €1,245 | €3,746 | +€2,501 | +200.8% |
| Total equity and liabilities | 10/49 | €92,499 | €111,240 | +€18,742 | +20.3% |
| Equity | 10/15 | €7,075 | €23,994 | +€16,919 | +239.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €4,575 | €21,494 | +€16,919 | +369.8% |
| Distributable reserves | 133 | €4,575 | €21,494 | +€16,919 | +369.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €85,424 | €87,247 | +€1,823 | +2.1% |
| Amounts payable after more than one year | 17 | €23,893 | €8,160 | -€15,733 | -65.8% |
| Financial debts | 170/4 | €23,893 | €8,160 | -€15,733 | -65.8% |
| Amounts payable within one year | 42/48 | €61,531 | €79,086 | +€17,556 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €14,980 | €15,733 | +€753 | +5.0% |
| Financial debts | 43 | €34 | €0 | -€34 | -100.0% |
| Credit institutions | 430/8 | €34 | €0 | -€34 | -100.0% |
| Trade debts | 44 | €1,153 | €8,231 | +€7,079 | +614.0% |
| Suppliers | 440/4 | €1,153 | €8,231 | +€7,079 | +614.0% |
| Taxes, remuneration and social security | 45 | €45,364 | €45,122 | -€241 | -0.5% |
| Taxes | 450/3 | €41,864 | €45,122 | +€3,259 | +7.8% |
| Remuneration and social security | 454/9 | €3,500 | €0 | -€3,500 | -100.0% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,874 | €15,874 | = | 0.0% |
| Other operating charges | 640/8 | €2,498 | €1,570 | -€928 | -37.1% |
| Gross operating margin | 9900 | €559 | €45,391 | +€44,832 | +8020.1% |
| Operating profit (loss) | 9901 | -€17,813 | €27,947 | +€45,760 | |
| Financial income | 75/76B | - | €2,496 | +€2,496 | |
| Recurring financial income | 75 | - | €2,496 | +€2,496 | |
| Financial charges | 65/66B | €2,825 | €2,471 | -€354 | -12.5% |
| Recurring financial charges | 65 | €2,825 | €2,471 | -€354 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | -€20,638 | €27,972 | +€48,610 | |
| Income taxes | 67/77 | €208 | €1,054 | +€845 | +405.5% |
| Profit (loss) for the period | 9904 | -€20,847 | €26,919 | +€47,765 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,847 | €26,919 | +€47,765 |
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.