CHARLES SEPT: 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 SEPT
Largest movements
- Cash +€25,908
up €25,908 (+75.1%), from €34,506 to €60,414
mainly Trade debts (+€22,601) and Debts after one year (+€20,000)
- Receivables within one year -€10,136
down €10,136 (-40.9%), from €24,788 to €14,652
of which Trade receivables: -€6,284
- Tangible fixed assets -€9,762
down €9,762 (-11.9%), from €82,135 to €72,373
of which Furniture and vehicles: -€18,132
- Stocks and contracts +€4,849
up €4,849 (+39.0%), from €12,436 to €17,285
of which Stocks: +€3,349
- Other debts -€39,400
down €39,400 (-64.5%), from €61,042 to €21,642
- Trade debts +€22,601
up €22,601 (+2,024%), from €1,116 to €23,717
- Debts after one year +€20,000
up €20,000 (+50.0%), from €40,000 to €60,000
- Accrued charges and deferred income +€3,540
new in 2025: €3,540
- Reserves +€1,772
up €1,772 (+13.7%), from €12,955 to €14,727
- Gross operating margin +€7,499
up €7,499 (+25.1%), from €29,844 to €37,343
- Depreciation +€6,690
up €6,690 (+53.5%), from €12,511 to €19,200
- Taxes +€1,930
up €1,930 (+85.4%), from €2,260 to €4,190
- Financial charges +€656
up €656 (+19.7%), from €3,330 to €3,986
of which Financial charges: +€328
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 | €155,935 | €166,184 | +€10,249 | +6.6% |
| Fixed assets | 21/28 | €82,885 | €72,373 | -€10,512 | -12.7% |
| Tangible fixed assets | 22/27 | €82,135 | €72,373 | -€9,762 | -11.9% |
| Furniture and vehicles | 24 | €82,135 | €64,003 | -€18,132 | -22.1% |
| Other tangible fixed assets | 26 | - | €8,370 | +€8,370 | |
| Financial fixed assets | 28 | €750 | - | -€750 | |
| Current assets | 29/58 | €73,050 | €93,811 | +€20,761 | +28.4% |
| Stocks and contracts in progress | 3 | €12,436 | €17,285 | +€4,849 | +39.0% |
| Stocks | 30/36 | €12,436 | €15,785 | +€3,349 | +26.9% |
| Contracts in progress | 37 | - | €1,500 | +€1,500 | |
| Amounts receivable within one year | 40/41 | €24,788 | €14,652 | -€10,136 | -40.9% |
| Trade receivables | 40 | €20,936 | €14,652 | -€6,284 | -30.0% |
| Other amounts receivable | 41 | €3,852 | - | -€3,852 | |
| Cash at bank and in hand | 54/58 | €34,506 | €60,414 | +€25,908 | +75.1% |
| Deferred charges and accrued income | 490/1 | €1,320 | €1,460 | +€140 | +10.6% |
| Total equity and liabilities | 10/49 | €155,935 | €166,184 | +€10,249 | +6.6% |
| Equity | 10/15 | €51,555 | €53,327 | +€1,772 | +3.4% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €12,955 | €14,727 | +€1,772 | +13.7% |
| Distributable reserves | 133 | €12,955 | €14,727 | +€1,772 | +13.7% |
| Amounts payable | 17/49 | €104,380 | €112,857 | +€8,476 | +8.1% |
| Amounts payable after more than one year | 17 | €40,000 | €60,000 | +€20,000 | +50.0% |
| Financial debts | 170/4 | €40,000 | €60,000 | +€20,000 | +50.0% |
| Amounts payable within one year | 42/48 | €64,380 | €49,317 | -€15,064 | -23.4% |
| Trade debts | 44 | €1,116 | €23,717 | +€22,601 | +2,024% |
| Suppliers | 440/4 | €1,116 | €23,717 | +€22,601 | +2,024% |
| Taxes, remuneration and social security | 45 | €2,222 | €3,958 | +€1,735 | +78.1% |
| Taxes | 450/3 | €2,222 | €3,958 | +€1,735 | +78.1% |
| Other amounts payable | 47/48 | €61,042 | €21,642 | -€39,400 | -64.5% |
| Accrued charges and deferred income | 492/3 | - | €3,540 | +€3,540 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,511 | €19,200 | +€6,690 | +53.5% |
| Other operating charges | 640/8 | €1,164 | €1,292 | +€127 | +10.9% |
| Non-recurring operating charges | 66A | - | €1,154 | +€1,154 | |
| Gross operating margin | 9900 | €29,844 | €37,343 | +€7,499 | +25.1% |
| Operating profit (loss) | 9901 | €16,169 | €15,697 | -€472 | -2.9% |
| Financial income | 75/76B | €3 | €0 | -€3 | -98.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -98.7% |
| Financial charges | 65/66B | €3,330 | €3,986 | +€656 | +19.7% |
| Recurring financial charges | 65 | €3,330 | €3,659 | +€328 | +9.9% |
| Non-recurring financial charges | 66B | - | €327 | +€327 | |
| Profit (loss) for the period before taxes | 9903 | €12,842 | €11,711 | -€1,131 | -8.8% |
| Income taxes | 67/77 | €2,260 | €4,190 | +€1,930 | +85.4% |
| Profit (loss) for the period | 9904 | €10,582 | €7,521 | -€3,061 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,582 | €7,521 | -€3,061 | -28.9% |
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 14 October 2026 via checked.be.