charlhot: 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.
charlhot
Largest movements
- Tangible fixed assets +€4.9m
up €4.9m (+308.5%), from €1.6m to €6.5m
of which Land and buildings: +€4.7m
- Cash +€118,718
up €118,718 (+416.3%), from €28,516 to €147,234
mainly Debts after one year (+€4.9m) and Short-term financial debts (+€2.2m)
- Debts after one year +€4.9m
new in 2025: €4.9m
of which Financial debts: +€4.9m
- Short-term financial debts +€2.2m
new in 2025: €2.2m
- Other debts -€2.2m
down €2.2m (-76.6%), from €2.9m to €670,000
- Gross operating margin +€129,113
up €129,113 (+60.8%), from €212,272 to €341,385
- Depreciation +€97,701
up €97,701 (+86.8%), from €112,606 to €210,306
- Financial charges -€72,715
down €72,715 (-45.0%), from €161,699 to €88,983
- Other operating charges +€14,882
up €14,882 (+27.7%), from €53,794 to €68,675
- Financial income -€8,923
down €8,923 (-99.1%), from €9,001 to €78
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 | €1,843,089 | €6,784,028 | +€4.9m | +268.1% |
| Fixed assets | 21/28 | €1,586,296 | €6,479,669 | +€4.9m | +308.5% |
| Tangible fixed assets | 22/27 | €1,586,296 | €6,479,669 | +€4.9m | +308.5% |
| Land and buildings | 22 | €1,456,646 | €6,161,389 | +€4.7m | +323.0% |
| Plant, machinery and equipment | 23 | €124,628 | €78,195 | -€46,432 | -37.3% |
| Furniture and vehicles | 24 | €5,023 | €240,085 | +€235,062 | +4679.7% |
| Current assets | 29/58 | €256,793 | €304,358 | +€47,566 | +18.5% |
| Amounts receivable within one year | 40/41 | €217,703 | €151,392 | -€66,312 | -30.5% |
| Trade receivables | 40 | €23,649 | €86,098 | +€62,450 | +264.1% |
| Other amounts receivable | 41 | €194,055 | €65,294 | -€128,761 | -66.4% |
| Cash at bank and in hand | 54/58 | €28,516 | €147,234 | +€118,718 | +416.3% |
| Deferred charges and accrued income | 490/1 | €10,574 | €5,733 | -€4,841 | -45.8% |
| Total equity and liabilities | 10/49 | €1,843,089 | €6,784,028 | +€4.9m | +268.1% |
| Equity | 10/15 | -€1,095,270 | -€1,121,771 | -€26,502 | -2.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,115,270 | -€1,141,771 | -€26,502 | -2.4% |
| Amounts payable | 17/49 | €2,938,359 | €7,905,799 | +€5.0m | +169.1% |
| Amounts payable after more than one year | 17 | - | €4,919,764 | +€4.9m | |
| Financial debts | 170/4 | - | €4,916,904 | +€4.9m | |
| Other amounts payable | 178/9 | - | €2,860 | +€2,860 | |
| Amounts payable within one year | 42/48 | €2,932,549 | €2,982,520 | +€49,971 | +1.7% |
| Financial debts | 43 | - | €2,200,000 | +€2.2m | |
| Credit institutions | 430/8 | - | €2,200,000 | +€2.2m | |
| Trade debts | 44 | €51,853 | €109,026 | +€57,174 | +110.3% |
| Suppliers | 440/4 | €51,853 | €109,026 | +€57,174 | +110.3% |
| Taxes, remuneration and social security | 45 | €11,873 | €3,494 | -€8,379 | -70.6% |
| Taxes | 450/3 | €11,873 | €3,494 | -€8,379 | -70.6% |
| Other amounts payable | 47/48 | €2,868,823 | €670,000 | -€2.2m | -76.6% |
| Accrued charges and deferred income | 492/3 | €5,810 | €3,515 | -€2,295 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,606 | €210,306 | +€97,701 | +86.8% |
| Other operating charges | 640/8 | €53,794 | €68,675 | +€14,882 | +27.7% |
| Gross operating margin | 9900 | €212,272 | €341,385 | +€129,113 | +60.8% |
| Operating profit (loss) | 9901 | €45,873 | €62,403 | +€16,531 | +36.0% |
| Financial income | 75/76B | €9,001 | €78 | -€8,923 | -99.1% |
| Recurring financial income | 75 | €9,001 | €78 | -€8,923 | -99.1% |
| Financial charges | 65/66B | €161,699 | €88,983 | -€72,715 | -45.0% |
| Recurring financial charges | 65 | €161,699 | €88,983 | -€72,715 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | -€106,825 | -€26,502 | +€80,323 | +75.2% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period | 9904 | -€106,825 | -€26,502 | +€80,323 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€106,825 | -€26,502 | +€80,323 | +75.2% |
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 12 October 2026 via checked.be.