A. CHARPENTIER: what changed
A. CHARPENTIER
Largest movements
- Intangible fixed assets +€56,762
new in 2025: €56,762
- Tangible fixed assets +€26,740
up €26,740 (+2,909%), from €919 to €27,659
of which Plant, machinery and equipment: +€24,603
- Cash +€9,188
up €9,188 (+238%), from €3,856 to €13,044
mainly Debts after one year (+€57,013) and Current portion of long-term debt (+€22,055)
- Receivables within one year -€3,682
down €3,682 (-71.4%), from €5,157 to €1,475
of which Trade receivables: -€3,527
- Debts after one year +€57,013
up €57,013 (+39.2%), from €145,579 to €202,591
of which Other amounts payable: +€35,514
- Current portion of long-term debt +€22,055
up €22,055 (+159%), from €13,839 to €35,894
- Profit (loss) carried forward +€18,344
up €18,344 (+1,155%), from €1,588 to €19,933
- Other debts -€13,940
down €13,940 (-92.4%), from €15,083 to €1,143
- Advances received +€5,660
new in 2025: €5,660
- Gross operating margin +€23,625
up €23,625 (+165%), from €14,290 to €37,916
- Depreciation +€9,152
up €9,152 (+687%), from €1,331 to €10,484
- Financial income +€6,021
new in 2025: €6,021
- Financial charges +€4,344
up €4,344 (+134%), from €3,248 to €7,592
- Taxes +€3,223
up €3,223 (+125%), from €2,578 to €5,801
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 | €193,736 | €285,106 | +€91,370 | +47.2% |
| Formation expenses | 20 | €1,204 | €0 | -€1,204 | -100% |
| Fixed assets | 21/28 | €183,519 | €267,020 | +€83,501 | +45.5% |
| Intangible fixed assets | 21 | - | €56,762 | +€56,762 | |
| Tangible fixed assets | 22/27 | €919 | €27,659 | +€26,740 | +2,909% |
| Plant, machinery and equipment | 23 | - | €24,603 | +€24,603 | |
| Furniture and vehicles | 24 | €919 | €3,056 | +€2,137 | +232% |
| Financial fixed assets | 28 | €182,600 | €182,600 | = | 0.0% |
| Current assets | 29/58 | €9,013 | €18,086 | +€9,073 | +101% |
| Stocks and contracts in progress | 3 | - | €1,735 | +€1,735 | |
| Stocks | 30/36 | - | €1,735 | +€1,735 | |
| Amounts receivable within one year | 40/41 | €5,157 | €1,475 | -€3,682 | -71.4% |
| Trade receivables | 40 | €4,970 | €1,443 | -€3,527 | -71.0% |
| Other amounts receivable | 41 | €187 | €32 | -€155 | -82.9% |
| Cash at bank and in hand | 54/58 | €3,856 | €13,044 | +€9,188 | +238% |
| Deferred charges and accrued income | 490/1 | - | €1,831 | +€1,831 | |
| Total equity and liabilities | 10/49 | €193,736 | €285,106 | +€91,370 | +47.2% |
| Equity | 10/15 | €11,288 | €29,633 | +€18,344 | +163% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,700 | €4,700 | = | 0.0% |
| Distributable reserves | 133 | €4,700 | €4,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,588 | €19,933 | +€18,344 | +1,155% |
| Amounts payable | 17/49 | €182,448 | €255,473 | +€73,026 | +40.0% |
| Amounts payable after more than one year | 17 | €145,579 | €202,591 | +€57,013 | +39.2% |
| Financial debts | 170/4 | €145,579 | €167,077 | +€21,498 | +14.8% |
| Other amounts payable | 178/9 | - | €35,514 | +€35,514 | |
| Amounts payable within one year | 42/48 | €36,869 | €51,928 | +€15,059 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €13,839 | €35,894 | +€22,055 | +159% |
| Trade debts | 44 | €774 | €1,340 | +€567 | +73.2% |
| Suppliers | 440/4 | €774 | €1,340 | +€567 | +73.2% |
| Advances received on contracts in progress | 46 | - | €5,660 | +€5,660 | |
| Taxes, remuneration and social security | 45 | €7,173 | €7,890 | +€717 | +10.0% |
| Taxes | 450/3 | €4,217 | €7,890 | +€3,673 | +87.1% |
| Remuneration and social security | 454/9 | €2,956 | €0 | -€2,956 | -100% |
| Other amounts payable | 47/48 | €15,083 | €1,143 | -€13,940 | -92.4% |
| Accrued charges and deferred income | 492/3 | - | €954 | +€954 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,331 | €10,484 | +€9,152 | +687% |
| Other operating charges | 640/8 | €11 | €82 | +€71 | +648% |
| Gross operating margin | 9900 | €14,290 | €37,916 | +€23,625 | +165% |
| Operating profit (loss) | 9901 | €12,948 | €27,350 | +€14,402 | +111% |
| Financial income | 75/76B | - | €6,021 | +€6,021 | |
| Recurring financial income | 75 | - | €6,021 | +€6,021 | |
| Financial charges | 65/66B | €3,248 | €7,592 | +€4,344 | +134% |
| Recurring financial charges | 65 | €3,248 | €7,592 | +€4,344 | +134% |
| Profit (loss) for the period before taxes | 9903 | €9,700 | €25,779 | +€16,079 | +166% |
| Income taxes | 67/77 | €2,578 | €5,801 | +€3,223 | +125% |
| Profit (loss) for the period | 9904 | €7,121 | €19,978 | +€12,856 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €7,121 | €19,978 | +€12,856 | +181% |
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 7 November 2026 via checked.be.