CHARLES NICOLAY: 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.
CHARLES NICOLAY
Largest movements
- Receivables within one year -€1,616
down €1,616 (-64.2%), from €2,519 to €903
of which Trade receivables: -€1,476
- Financial fixed assets -€799
down €799 (-100%), from €799 to €0
- Cash +€295
up €295 (+38.2%), from €774 to €1,070
mainly Net result for the year (+€6,143) and Receivables within one year (+€1,616)
- Other debts -€7,655
down €7,655 (-70.7%), from €10,825 to €3,171
- Profit (loss) carried forward +€6,143
up €6,143 (+18.0%), from -€34,169 to -€28,027
- Tax, wage and social debts -€371
down €371 (-45.7%), from €812 to €441
- Trade debts -€236
down €236 (-68.3%), from €346 to €110
- Gross operating margin +€6,916
up €6,916 (+643%), from €1,075 to €7,991
- Other operating charges +€829
up €829 (+92.2%), from €899 to €1,727
- Taxes -€403
no longer reported in 2025 (was €403)
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 | €4,093 | €1,974 | -€2,120 | -51.8% |
| Fixed assets | 21/28 | €799 | €0 | -€799 | -100% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €799 | €0 | -€799 | -100% |
| Current assets | 29/58 | €3,294 | €1,974 | -€1,320 | -40.1% |
| Amounts receivable within one year | 40/41 | €2,519 | €903 | -€1,616 | -64.2% |
| Trade receivables | 40 | €1,476 | €0 | -€1,476 | -100% |
| Other amounts receivable | 41 | €1,043 | €903 | -€140 | -13.4% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €774 | €1,070 | +€295 | +38.2% |
| Total equity and liabilities | 10/49 | €4,093 | €1,974 | -€2,120 | -51.8% |
| Equity | 10/15 | -€7,889 | -€1,747 | +€6,143 | +77.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €7,730 | €7,730 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,817 | €6,817 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,817 | €6,817 | = | 0.0% |
| Distributable reserves | 133 | €913 | €913 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,169 | -€28,027 | +€6,143 | +18.0% |
| Amounts payable | 17/49 | €11,983 | €3,721 | -€8,262 | -69.0% |
| Amounts payable within one year | 42/48 | €11,983 | €3,721 | -€8,262 | -69.0% |
| Trade debts | 44 | €346 | €110 | -€236 | -68.3% |
| Suppliers | 440/4 | €346 | €110 | -€236 | -68.3% |
| Taxes, remuneration and social security | 45 | €812 | €441 | -€371 | -45.7% |
| Taxes | 450/3 | €812 | €441 | -€371 | -45.7% |
| Other amounts payable | 47/48 | €10,825 | €3,171 | -€7,655 | -70.7% |
| Other operating charges | 640/8 | €899 | €1,727 | +€829 | +92.2% |
| Gross operating margin | 9900 | €1,075 | €7,991 | +€6,916 | +643% |
| Operating profit (loss) | 9901 | €177 | €6,264 | +€6,087 | +3,443% |
| Financial charges | 65/66B | €143 | €121 | -€22 | -15.2% |
| Recurring financial charges | 65 | €143 | €121 | -€22 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €34 | €6,143 | +€6,109 | +18,127% |
| Income taxes | 67/77 | €403 | - | -€403 | |
| Profit (loss) for the period | 9904 | -€369 | €6,143 | +€6,512 | |
| Profit (loss) for the period to be appropriated | 9905 | -€369 | €6,143 | +€6,512 |
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 30 October 2026 via checked.be.