Bertrand Charles: 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.
Bertrand Charles
Largest movements
- Cash -€15,668
down €15,668 (-19.9%), from €78,897 to €63,230
mainly Debts after one year (-€16,558) and Trade debts (-€12,008)
- Receivables within one year -€9,876
down €9,876 (-10.4%), from €95,299 to €85,424
of which Other amounts receivable: -€8,544
- Tangible fixed assets -€5,823
down €5,823 (-4.5%), from €128,771 to €122,948
of which Land and buildings: -€4,386
- Debts after one year -€16,558
down €16,558 (-56.5%), from €29,283 to €12,726
- Trade debts -€12,008
down €12,008 (-10.1%), from €118,566 to €106,558
- Tax, wage and social debts -€9,187
down €9,187 (-54.8%), from €16,778 to €7,591
of which Remuneration and social security: -€5,200
- Reserves +€5,126
up €5,126 (+4.6%), from €110,505 to €115,631
of which Distributable reserves: +€5,126
- Other debts -€3,266
down €3,266 (-100%), from €3,266 to €0
- Gross operating margin -€31,816
down €31,816 (-38.6%), from €82,405 to €50,589
- Taxes -€7,701
down €7,701 (-71.7%), from €10,739 to €3,038
- Staff costs +€4,542
up €4,542 (+15.3%), from €29,742 to €34,283
- Other operating charges +€1,956
up €1,956 (+113%), from €1,733 to €3,689
- Write-downs -€1,446
down €1,446 (-100%), from €1,446 to €0
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 | €314,067 | €278,647 | -€35,420 | -11.3% |
| Fixed assets | 21/28 | €133,011 | €126,238 | -€6,773 | -5.1% |
| Intangible fixed assets | 21 | €4,240 | €3,289 | -€950 | -22.4% |
| Tangible fixed assets | 22/27 | €128,771 | €122,948 | -€5,823 | -4.5% |
| Land and buildings | 22 | €124,915 | €120,529 | -€4,386 | -3.5% |
| Plant, machinery and equipment | 23 | €529 | €0 | -€529 | -100% |
| Furniture and vehicles | 24 | €3,326 | €2,419 | -€907 | -27.3% |
| Current assets | 29/58 | €181,056 | €152,409 | -€28,647 | -15.8% |
| Amounts receivable within one year | 40/41 | €95,299 | €85,424 | -€9,876 | -10.4% |
| Trade receivables | 40 | €27,987 | €26,655 | -€1,332 | -4.8% |
| Other amounts receivable | 41 | €67,312 | €58,768 | -€8,544 | -12.7% |
| Cash at bank and in hand | 54/58 | €78,897 | €63,230 | -€15,668 | -19.9% |
| Deferred charges and accrued income | 490/1 | €6,860 | €3,756 | -€3,104 | -45.2% |
| Total equity and liabilities | 10/49 | €314,067 | €278,647 | -€35,420 | -11.3% |
| Equity | 10/15 | €129,505 | €134,631 | +€5,126 | +4.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €110,505 | €115,631 | +€5,126 | +4.6% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €108,605 | €113,731 | +€5,126 | +4.7% |
| Amounts payable | 17/49 | €184,562 | €144,016 | -€40,546 | -22.0% |
| Amounts payable after more than one year | 17 | €29,283 | €12,726 | -€16,558 | -56.5% |
| Financial debts | 170/4 | €29,283 | €12,726 | -€16,558 | -56.5% |
| Amounts payable within one year | 42/48 | €154,711 | €130,706 | -€24,005 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €16,101 | €16,558 | +€456 | +2.8% |
| Trade debts | 44 | €118,566 | €106,558 | -€12,008 | -10.1% |
| Suppliers | 440/4 | €118,566 | €106,558 | -€12,008 | -10.1% |
| Taxes, remuneration and social security | 45 | €16,778 | €7,591 | -€9,187 | -54.8% |
| Taxes | 450/3 | €7,032 | €3,045 | -€3,988 | -56.7% |
| Remuneration and social security | 454/9 | €9,746 | €4,546 | -€5,200 | -53.4% |
| Other amounts payable | 47/48 | €3,266 | €0 | -€3,266 | -100% |
| Accrued charges and deferred income | 492/3 | €568 | €584 | +€16 | +2.9% |
| Remuneration, social security and pensions | 62 | €29,742 | €34,283 | +€4,542 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,579 | €6,773 | -€806 | -10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,446 | €0 | -€1,446 | -100% |
| Other operating charges | 640/8 | €1,733 | €3,689 | +€1,956 | +113% |
| Gross operating margin | 9900 | €82,405 | €50,589 | -€31,816 | -38.6% |
| Operating profit (loss) | 9901 | €41,904 | €5,844 | -€36,061 | -86.1% |
| Financial income | 75/76B | €5,229 | €4,586 | -€643 | -12.3% |
| Recurring financial income | 75 | €5,229 | €4,586 | -€643 | -12.3% |
| Financial charges | 65/66B | €2,786 | €2,266 | -€521 | -18.7% |
| Recurring financial charges | 65 | €2,786 | €2,266 | -€521 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €44,347 | €8,164 | -€36,183 | -81.6% |
| Income taxes | 67/77 | €10,739 | €3,038 | -€7,701 | -71.7% |
| Profit (loss) for the period | 9904 | €33,608 | €5,126 | -€28,482 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,608 | €5,126 | -€28,482 | -84.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.