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.
CHEN & LIN
Largest movements
- Tangible fixed assets -€13,679
down €13,679 (-30.5%), from €44,819 to €31,140
of which Land and buildings: -€7,364
- Deferred charges and accrued income +€11,300
up €11,300 (+425.5%), from €2,656 to €13,956
- Financial fixed assets +€7,000
new in 2025: €7,000
- Cash +€6,944
up €6,944 (+14.0%), from €49,579 to €56,523
mainly Net result for the year (+€27,647) and Other debts (+€26,736)
- Reserves +€27,647
up €27,647 (+206.3%), from €13,404 to €41,051
- Other debts +€26,736
up €26,736 (+4126.4%), from €648 to €27,384
- Tax, wage and social debts -€23,568
down €23,568 (-41.5%), from €56,767 to €33,199
of which Taxes: -€35,152
- Trade debts -€9,678
down €9,678 (-40.2%), from €24,052 to €14,374
- Contributions -€8,060
no longer reported in 2025 (was €8,060)
- Gross operating margin -€25,493
down €25,493 (-15.6%), from €163,048 to €137,555
- Staff costs +€19,405
up €19,405 (+29.6%), from €65,538 to €84,944
- Financial charges -€2,969
down €2,969 (-76.9%), from €3,862 to €893
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 | €104,180 | €116,007 | +€11,827 | +11.4% |
| Fixed assets | 21/28 | €44,819 | €38,140 | -€6,679 | -14.9% |
| Tangible fixed assets | 22/27 | €44,819 | €31,140 | -€13,679 | -30.5% |
| Land and buildings | 22 | €34,053 | €26,688 | -€7,364 | -21.6% |
| Plant, machinery and equipment | 23 | €5,898 | €3,365 | -€2,533 | -42.9% |
| Furniture and vehicles | 24 | €4,869 | €1,087 | -€3,782 | -77.7% |
| Financial fixed assets | 28 | - | €7,000 | +€7,000 | |
| Current assets | 29/58 | €59,361 | €77,867 | +€18,506 | +31.2% |
| Stocks and contracts in progress | 3 | €1,605 | €971 | -€634 | -39.5% |
| Stocks | 30/36 | €1,605 | €971 | -€634 | -39.5% |
| Amounts receivable within one year | 40/41 | €5,521 | €6,417 | +€896 | +16.2% |
| Trade receivables | 40 | €4,753 | €1,377 | -€3,376 | -71.0% |
| Other amounts receivable | 41 | €768 | €5,040 | +€4,272 | +556.1% |
| Cash at bank and in hand | 54/58 | €49,579 | €56,523 | +€6,944 | +14.0% |
| Deferred charges and accrued income | 490/1 | €2,656 | €13,956 | +€11,300 | +425.5% |
| Total equity and liabilities | 10/49 | €104,180 | €116,007 | +€11,827 | +11.4% |
| Equity | 10/15 | €21,464 | €41,051 | +€19,587 | +91.3% |
| Contributions | 10/11 | €8,060 | - | -€8,060 | |
| Reserves | 13 | €13,404 | €41,051 | +€27,647 | +206.3% |
| Distributable reserves | 133 | €13,404 | €41,051 | +€27,647 | +206.3% |
| Amounts payable | 17/49 | €82,716 | €74,956 | -€7,760 | -9.4% |
| Amounts payable within one year | 42/48 | €81,466 | €74,956 | -€6,510 | -8.0% |
| Trade debts | 44 | €24,052 | €14,374 | -€9,678 | -40.2% |
| Suppliers | 440/4 | €24,052 | €14,374 | -€9,678 | -40.2% |
| Taxes, remuneration and social security | 45 | €56,767 | €33,199 | -€23,568 | -41.5% |
| Taxes | 450/3 | €48,007 | €12,855 | -€35,152 | -73.2% |
| Remuneration and social security | 454/9 | €8,759 | €20,344 | +€11,584 | +132.3% |
| Other amounts payable | 47/48 | €648 | €27,384 | +€26,736 | +4126.4% |
| Accrued charges and deferred income | 492/3 | €1,250 | - | -€1,250 | |
| Non-recurring operating income | 76A | - | €10,442 | +€10,442 | |
| Remuneration, social security and pensions | 62 | €65,538 | €84,944 | +€19,405 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,013 | €10,546 | -€1,466 | -12.2% |
| Other operating charges | 640/8 | €2,733 | €2,232 | -€501 | -18.3% |
| Gross operating margin | 9900 | €163,048 | €137,555 | -€25,493 | -15.6% |
| Operating profit (loss) | 9901 | €82,763 | €39,833 | -€42,931 | -51.9% |
| Financial income | 75/76B | €1,360 | €0 | -€1,360 | -100.0% |
| Recurring financial income | 75 | €1,360 | €0 | -€1,360 | -100.0% |
| Financial charges | 65/66B | €3,862 | €893 | -€2,969 | -76.9% |
| Recurring financial charges | 65 | €3,862 | €893 | -€2,969 | -76.9% |
| Profit (loss) for the period before taxes | 9903 | €80,262 | €38,940 | -€41,322 | -51.5% |
| Income taxes | 67/77 | €11,482 | €11,293 | -€189 | -1.6% |
| Profit (loss) for the period | 9904 | €68,780 | €27,647 | -€41,133 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €68,780 | €27,647 | -€41,133 | -59.8% |
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 28 September 2026 via checked.be.