CHARL: 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.
CHARL
Largest movements
- Receivables within one year -€1.2m
down €1.2m (-95.5%), from €1.2m to €56,454
of which Other amounts receivable: -€1.2m
- Tangible fixed assets -€249,389
down €249,389 (-4.3%), from €5.8m to €5.6m
- Intangible fixed assets -€128,178
down €128,178 (-25.0%), from €512,713 to €384,534
- Stocks and contracts -€116,115
no longer reported in 2025 (was €116,115)
- Other debts -€4.7m
down €4.7m (-71.1%), from €6.6m to €1.9m
- Short-term financial debts +€2.8m
new in 2025: €2.8m
- Gross operating margin +€579,178
up €579,178, from -€9,963 to €569,215
- Financial charges +€168,077
up €168,077 (+1615.7%), from €10,403 to €178,480
- Depreciation +€130,995
up €130,995 (+92.8%), from €141,183 to €272,178
- Financial income -€6,816
down €6,816 (-95.8%), from €7,118 to €302
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 | €8,415,971 | €6,726,536 | -€1.7m | -20.1% |
| Fixed assets | 21/28 | €7,046,969 | €6,669,402 | -€377,567 | -5.4% |
| Intangible fixed assets | 21 | €512,713 | €384,534 | -€128,178 | -25.0% |
| Tangible fixed assets | 22/27 | €5,803,417 | €5,554,027 | -€249,389 | -4.3% |
| Land and buildings | 22 | €5,803,417 | €5,554,027 | -€249,389 | -4.3% |
| Financial fixed assets | 28 | €730,840 | €730,840 | = | 0.0% |
| Current assets | 29/58 | €1,369,002 | €57,134 | -€1.3m | -95.8% |
| Stocks and contracts in progress | 3 | €116,115 | - | -€116,115 | |
| Stocks | 30/36 | €116,115 | - | -€116,115 | |
| Amounts receivable within one year | 40/41 | €1,248,676 | €56,454 | -€1.2m | -95.5% |
| Trade receivables | 40 | €27,520 | €29,500 | +€1,980 | +7.2% |
| Other amounts receivable | 41 | €1,221,157 | €26,954 | -€1.2m | -97.8% |
| Cash at bank and in hand | 54/58 | €4,211 | €680 | -€3,531 | -83.9% |
| Deferred charges and accrued income | 490/1 | - | €0 | +€0 | |
| Total equity and liabilities | 10/49 | €8,415,971 | €6,726,536 | -€1.7m | -20.1% |
| Equity | 10/15 | €892,191 | €986,186 | +€93,995 | +10.5% |
| Contributions | 10/11 | €156,200 | €156,200 | = | 0.0% |
| Reserves | 13 | €2,701,250 | €2,766,335 | +€65,085 | +2.4% |
| Tax-exempt reserves | 132 | €2,701,250 | €2,766,335 | +€65,085 | +2.4% |
| Profit (loss) carried forward | 14 | -€1,965,259 | -€1,936,350 | +€28,909 | +1.5% |
| Provisions and deferred taxes | 16 | €900,417 | €922,112 | +€21,695 | +2.4% |
| Deferred taxes | 168 | €900,417 | €922,112 | +€21,695 | +2.4% |
| Amounts payable | 17/49 | €6,623,364 | €4,818,238 | -€1.8m | -27.3% |
| Amounts payable within one year | 42/48 | €6,623,364 | €4,818,238 | -€1.8m | -27.3% |
| Financial debts | 43 | - | €2,838,492 | +€2.8m | |
| Credit institutions | 430/8 | - | €2,838,492 | +€2.8m | |
| Trade debts | 44 | €39,430 | €68,675 | +€29,246 | +74.2% |
| Suppliers | 440/4 | €39,430 | €68,675 | +€29,246 | +74.2% |
| Taxes, remuneration and social security | 45 | - | €6,990 | +€6,990 | |
| Taxes | 450/3 | - | €6,990 | +€6,990 | |
| Other amounts payable | 47/48 | €6,583,934 | €1,904,082 | -€4.7m | -71.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,183 | €272,178 | +€130,995 | +92.8% |
| Other operating charges | 640/8 | €6,506 | €3,168 | -€3,338 | -51.3% |
| Gross operating margin | 9900 | -€9,963 | €569,215 | +€579,178 | |
| Operating profit (loss) | 9901 | -€157,652 | €293,869 | +€451,521 | |
| Financial income | 75/76B | €7,118 | €302 | -€6,816 | -95.8% |
| Recurring financial income | 75 | €7,118 | €302 | -€6,816 | -95.8% |
| Financial charges | 65/66B | €10,403 | €178,480 | +€168,077 | +1615.7% |
| Recurring financial charges | 65 | €10,403 | €178,480 | +€168,077 | +1615.7% |
| Profit (loss) for the period before taxes | 9903 | -€160,937 | €115,691 | +€276,628 | |
| Transfer from deferred taxes | 780 | €370 | €27,024 | +€26,653 | +7200.1% |
| Transfer to deferred taxes | 680 | - | €48,719 | +€48,719 | |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€160,567 | €93,995 | +€254,561 | |
| Transfer from tax-exempt reserves | 789 | €1,111 | €81,071 | +€79,960 | +7200.0% |
| Transfer to tax-exempt reserves | 689 | - | €146,156 | +€146,156 | |
| Profit (loss) for the period to be appropriated | 9905 | -€159,456 | €28,909 | +€188,365 |
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 7 October 2026 via checked.be.