CHAARCON: 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.
CHAARCON
Largest movements
- Current investments +€240,000
up €240,000 (+92.3%), from €260,000 to €500,000
- Tangible fixed assets -€155,207
down €155,207 (-10.0%), from €1.6m to €1.4m
of which Land and buildings: -€151,321
- Cash +€43,142
up €43,142 (+407.2%), from €10,596 to €53,738
mainly Net result for the year (+€111,012) and Investment in fixed assets (net) (+€83,407)
- Reserves +€111,012
up €111,012 (+15.5%), from €714,982 to €825,994
of which Distributable reserves: +€122,846
- Accrued charges and deferred income +€29,489
up €29,489 (+1694.8%), from €1,740 to €31,229
- Gross operating margin -€44,510
down €44,510 (-13.8%), from €323,228 to €278,717
- Depreciation -€19,606
down €19,606 (-21.4%), from €91,437 to €71,831
- Financial charges -€8,899
down €8,899 (-17.5%), from €50,723 to €41,824
- Taxes -€7,912
down €7,912 (-13.3%), from €59,643 to €51,732
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 | €1,847,048 | €1,987,472 | +€140,424 | +7.6% |
| Fixed assets | 21/28 | €1,557,349 | €1,402,111 | -€155,238 | -10.0% |
| Tangible fixed assets | 22/27 | €1,557,318 | €1,402,111 | -€155,207 | -10.0% |
| Land and buildings | 22 | €1,551,678 | €1,400,357 | -€151,321 | -9.8% |
| Furniture and vehicles | 24 | €3,910 | €1,322 | -€2,588 | -66.2% |
| Other tangible fixed assets | 26 | €1,730 | €433 | -€1,298 | -75.0% |
| Financial fixed assets | 28 | €31 | €0 | -€31 | -100.0% |
| Current assets | 29/58 | €289,699 | €585,361 | +€295,662 | +102.1% |
| Stocks and contracts in progress | 3 | €415 | €2,048 | +€1,632 | +393.0% |
| Stocks | 30/36 | €415 | €2,048 | +€1,632 | +393.0% |
| Amounts receivable within one year | 40/41 | €16,351 | €22,271 | +€5,920 | +36.2% |
| Trade receivables | 40 | €15,531 | €17,912 | +€2,381 | +15.3% |
| Other amounts receivable | 41 | €820 | €4,358 | +€3,539 | +431.7% |
| Current investments | 50/53 | €260,000 | €500,000 | +€240,000 | +92.3% |
| Cash at bank and in hand | 54/58 | €10,596 | €53,738 | +€43,142 | +407.2% |
| Deferred charges and accrued income | 490/1 | €2,337 | €7,304 | +€4,968 | +212.6% |
| Total equity and liabilities | 10/49 | €1,847,048 | €1,987,472 | +€140,424 | +7.6% |
| Equity | 10/15 | €1,163,297 | €1,274,309 | +€111,012 | +9.5% |
| Contributions | 10/11 | €448,315 | €448,315 | = | 0.0% |
| Reserves | 13 | €714,982 | €825,994 | +€111,012 | +15.5% |
| Tax-exempt reserves | 132 | €223,226 | €211,392 | -€11,834 | -5.3% |
| Distributable reserves | 133 | €491,756 | €614,602 | +€122,846 | +25.0% |
| Provisions and deferred taxes | 16 | €60,604 | €56,660 | -€3,945 | -6.5% |
| Deferred taxes | 168 | €60,604 | €56,660 | -€3,945 | -6.5% |
| Amounts payable | 17/49 | €623,147 | €656,503 | +€33,356 | +5.4% |
| Amounts payable after more than one year | 17 | €450,000 | €450,000 | = | 0.0% |
| Other amounts payable | 178/9 | €450,000 | €450,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €171,407 | €175,274 | +€3,867 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,657 | €5,161 | +€1,504 | +41.1% |
| Suppliers | 440/4 | €3,657 | €5,161 | +€1,504 | +41.1% |
| Advances received on contracts in progress | 46 | €847 | €1,694 | +€847 | +100.0% |
| Taxes, remuneration and social security | 45 | €33,750 | €36,401 | +€2,651 | +7.9% |
| Taxes | 450/3 | €33,750 | €36,401 | +€2,651 | +7.9% |
| Other amounts payable | 47/48 | €133,154 | €132,019 | -€1,135 | -0.9% |
| Accrued charges and deferred income | 492/3 | €1,740 | €31,229 | +€29,489 | +1694.8% |
| Non-recurring operating income | 76A | €215,675 | €189,545 | -€26,130 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,437 | €71,831 | -€19,606 | -21.4% |
| Other operating charges | 640/8 | €10,556 | €10,141 | -€415 | -3.9% |
| Non-recurring operating charges | 66A | - | €2,015 | +€2,015 | |
| Gross operating margin | 9900 | €323,228 | €278,717 | -€44,510 | -13.8% |
| Operating profit (loss) | 9901 | €221,235 | €194,730 | -€26,505 | -12.0% |
| Financial income | 75/76B | €6,759 | €5,893 | -€865 | -12.8% |
| Recurring financial income | 75 | €6,759 | €5,893 | -€865 | -12.8% |
| Financial charges | 65/66B | €50,723 | €41,824 | -€8,899 | -17.5% |
| Recurring financial charges | 65 | €50,723 | €41,824 | -€8,899 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €177,270 | €158,799 | -€18,471 | -10.4% |
| Transfer from deferred taxes | 780 | €4,893 | €3,945 | -€948 | -19.4% |
| Income taxes | 67/77 | €59,643 | €51,732 | -€7,912 | -13.3% |
| Profit (loss) for the period | 9904 | €122,519 | €111,012 | -€11,508 | -9.4% |
| Transfer from tax-exempt reserves | 789 | €10,971 | €11,834 | +€862 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €133,491 | €122,846 | -€10,645 | -8.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.