VICTOR CHAPPUIS: what changed
VICTOR CHAPPUIS
Largest movements
- Tangible fixed assets +€70,720
up €70,720 (+553%), from €12,781 to €83,501
of which Furniture and vehicles: +€71,080
- Cash +€39,072
up €39,072 (+301%), from €12,964 to €52,036
mainly Net result for the year (+€76,805) and Debts after one year (+€47,006)
- Receivables within one year +€30,538
up €30,538 (+59.5%), from €51,312 to €81,850
- Intangible fixed assets -€12,000
down €12,000 (-98.4%), from €12,197 to €197
- Reserves +€76,805
up €76,805 (+251%), from €30,628 to €107,432
- Debts after one year +€47,006
up €47,006 (+1,141%), from €4,119 to €51,125
- Other debts -€14,000
down €14,000 (-100%), from €14,000 to €0
- Tax, wage and social debts +€13,671
up €13,671 (+71.1%), from €19,237 to €32,908
of which Taxes: +€16,671
- Current portion of long-term debt +€7,506
up €7,506 (+51.3%), from €14,620 to €22,126
- Gross operating margin +€64,000
up €64,000 (+90.8%), from €70,506 to €134,505
- Taxes +€13,604
up €13,604 (+133%), from €10,237 to €23,841
- Depreciation +€6,520
up €6,520 (+27.7%), from €23,560 to €30,080
- Other operating charges -€2,114
down €2,114 (-53.4%), from €3,956 to €1,842
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €90,161 | €219,980 | +€129,819 | +144% |
| Fixed assets | 21/28 | €24,978 | €83,698 | +€58,720 | +235% |
| Intangible fixed assets | 21 | €12,197 | €197 | -€12,000 | -98.4% |
| Tangible fixed assets | 22/27 | €12,781 | €83,501 | +€70,720 | +553% |
| Plant, machinery and equipment | 23 | €568 | €208 | -€360 | -63.4% |
| Furniture and vehicles | 24 | €12,213 | €83,292 | +€71,080 | +582% |
| Current assets | 29/58 | €65,183 | €136,282 | +€71,099 | +109% |
| Amounts receivable within one year | 40/41 | €51,312 | €81,850 | +€30,538 | +59.5% |
| Other amounts receivable | 41 | €51,312 | €81,850 | +€30,538 | +59.5% |
| Cash at bank and in hand | 54/58 | €12,964 | €52,036 | +€39,072 | +301% |
| Deferred charges and accrued income | 490/1 | €906 | €2,395 | +€1,489 | +164% |
| Total equity and liabilities | 10/49 | €90,161 | €219,980 | +€129,819 | +144% |
| Equity | 10/15 | €35,628 | €112,432 | +€76,805 | +216% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,628 | €107,432 | +€76,805 | +251% |
| Distributable reserves | 133 | €30,628 | €107,432 | +€76,805 | +251% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €54,533 | €107,548 | +€53,015 | +97.2% |
| Amounts payable after more than one year | 17 | €4,119 | €51,125 | +€47,006 | +1,141% |
| Financial debts | 170/4 | €4,119 | €51,125 | +€47,006 | +1,141% |
| Amounts payable within one year | 42/48 | €50,414 | €56,423 | +€6,008 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €14,620 | €22,126 | +€7,506 | +51.3% |
| Trade debts | 44 | €2,557 | €1,388 | -€1,169 | -45.7% |
| Suppliers | 440/4 | €2,557 | €1,388 | -€1,169 | -45.7% |
| Taxes, remuneration and social security | 45 | €19,237 | €32,908 | +€13,671 | +71.1% |
| Taxes | 450/3 | €16,237 | €32,908 | +€16,671 | +103% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100% |
| Other amounts payable | 47/48 | €14,000 | €0 | -€14,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,560 | €30,080 | +€6,520 | +27.7% |
| Other operating charges | 640/8 | €3,956 | €1,842 | -€2,114 | -53.4% |
| Gross operating margin | 9900 | €70,506 | €134,505 | +€64,000 | +90.8% |
| Operating profit (loss) | 9901 | €42,989 | €102,583 | +€59,594 | +139% |
| Financial charges | 65/66B | €1,715 | €1,937 | +€222 | +12.9% |
| Recurring financial charges | 65 | €1,715 | €1,937 | +€222 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €41,274 | €100,646 | +€59,372 | +144% |
| Income taxes | 67/77 | €10,237 | €23,841 | +€13,604 | +133% |
| Profit (loss) for the period | 9904 | €31,036 | €76,805 | +€45,768 | +147% |
| Profit (loss) for the period to be appropriated | 9905 | €31,036 | €76,805 | +€45,768 | +147% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.