CHARBON STUDIO: 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.
CHARBON STUDIO
Largest movements
- Receivables within one year -€18,193
down €18,193 (-20.6%), from €88,490 to €70,297
of which Trade receivables: -€13,116
- Tangible fixed assets +€6,855
up €6,855 (+35.6%), from €19,234 to €26,089
of which Furniture and vehicles: +€17,717
- Cash +€5,856
up €5,856 (+981.1%), from €597 to €6,453
mainly Contributions, distributions and other (+€19,500) and Receivables within one year (+€18,193)
- Financial fixed assets +€3,342
up €3,342 (+115.2%), from €2,900 to €6,242
- Trade debts -€25,907
down €25,907 (-84.5%), from €30,666 to €4,759
- Revaluation surpluses +€19,500
new in 2025: €19,500
- Profit (loss) carried forward +€17,507
up €17,507, from -€17,473 to €33
- Debts after one year -€15,760
down €15,760 (-33.7%), from €46,705 to €30,944
- Short-term financial debts -€15,080
down €15,080 (-93.1%), from €16,197 to €1,117
- Gross operating margin +€20,123
up €20,123 (+28.7%), from €70,017 to €90,140
- Depreciation -€11,035
down €11,035 (-44.9%), from €24,554 to €13,519
- Other operating charges +€8,217
up €8,217 (+975.2%), from €843 to €9,059
- Financial income -€4,147
down €4,147 (-100.0%), from €4,147 to €0
- Staff costs +€1,638
up €1,638 (+3.7%), from €44,170 to €45,808
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 | €133,249 | €130,780 | -€2,469 | -1.9% |
| Fixed assets | 21/28 | €44,081 | €54,030 | +€9,948 | +22.6% |
| Intangible fixed assets | 21 | €21,947 | €21,699 | -€248 | -1.1% |
| Tangible fixed assets | 22/27 | €19,234 | €26,089 | +€6,855 | +35.6% |
| Furniture and vehicles | 24 | €8,373 | €26,089 | +€17,717 | +211.6% |
| Other tangible fixed assets | 26 | €10,862 | - | -€10,862 | |
| Financial fixed assets | 28 | €2,900 | €6,242 | +€3,342 | +115.2% |
| Current assets | 29/58 | €89,168 | €76,750 | -€12,418 | -13.9% |
| Amounts receivable within one year | 40/41 | €88,490 | €70,297 | -€18,193 | -20.6% |
| Trade receivables | 40 | €83,414 | €70,297 | -€13,116 | -15.7% |
| Other amounts receivable | 41 | €5,077 | - | -€5,077 | |
| Cash at bank and in hand | 54/58 | €597 | €6,453 | +€5,856 | +981.1% |
| Deferred charges and accrued income | 490/1 | €81 | - | -€81 | |
| Total equity and liabilities | 10/49 | €133,249 | €130,780 | -€2,469 | -1.9% |
| Equity | 10/15 | €14,227 | €51,233 | +€37,007 | +260.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | - | €19,500 | +€19,500 | |
| Reserves | 13 | €13,100 | €13,100 | = | 0.0% |
| Distributable reserves | 133 | €13,100 | €13,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,473 | €33 | +€17,507 | |
| Amounts payable | 17/49 | €119,023 | €79,547 | -€39,476 | -33.2% |
| Amounts payable after more than one year | 17 | €46,705 | €30,944 | -€15,760 | -33.7% |
| Financial debts | 170/4 | €46,705 | €30,944 | -€15,760 | -33.7% |
| Amounts payable within one year | 42/48 | €70,457 | €48,379 | -€22,077 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €13,575 | €15,787 | +€2,212 | +16.3% |
| Financial debts | 43 | €16,197 | €1,117 | -€15,080 | -93.1% |
| Other loans | 439 | €16,197 | €1,117 | -€15,080 | -93.1% |
| Trade debts | 44 | €30,666 | €4,759 | -€25,907 | -84.5% |
| Suppliers | 440/4 | €30,666 | €4,759 | -€25,907 | -84.5% |
| Taxes, remuneration and social security | 45 | €10,019 | €12,925 | +€2,905 | +29.0% |
| Taxes | 450/3 | €2,069 | €4,608 | +€2,539 | +122.7% |
| Remuneration and social security | 454/9 | €7,950 | €8,317 | +€366 | +4.6% |
| Other amounts payable | 47/48 | - | €13,793 | +€13,793 | |
| Accrued charges and deferred income | 492/3 | €1,862 | €223 | -€1,639 | -88.0% |
| Remuneration, social security and pensions | 62 | €44,170 | €45,808 | +€1,638 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,554 | €13,519 | -€11,035 | -44.9% |
| Other operating charges | 640/8 | €843 | €9,059 | +€8,217 | +975.2% |
| Gross operating margin | 9900 | €70,017 | €90,140 | +€20,123 | +28.7% |
| Operating profit (loss) | 9901 | €451 | €21,754 | +€21,303 | +4721.7% |
| Financial income | 75/76B | €4,147 | €0 | -€4,147 | -100.0% |
| Recurring financial income | 75 | €4,147 | €0 | -€4,147 | -100.0% |
| Financial charges | 65/66B | €3,606 | €4,236 | +€630 | +17.5% |
| Recurring financial charges | 65 | €3,606 | €4,236 | +€630 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €992 | €17,518 | +€16,526 | +1666.0% |
| Income taxes | 67/77 | - | €12 | +€12 | |
| Profit (loss) for the period | 9904 | €992 | €17,507 | +€16,515 | +1664.8% |
| Profit (loss) for the period to be appropriated | 9905 | €992 | €17,507 | +€16,515 | +1664.8% |
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 4 October 2026 via checked.be.