CHARLIE FOUR: 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.
CHARLIE FOUR
Largest movements
- Cash +€62,368
up €62,368 (+56.4%), from €110,654 to €173,021
mainly Net result for the year (+€42,030) and Tax, wage and social debts (+€10,913)
- Receivables within one year -€6,751
down €6,751 (-32.6%), from €20,694 to €13,944
of which Trade receivables: -€6,395
- Reserves +€41,900
up €41,900 (+189%), from €22,200 to €64,100
- Tax, wage and social debts +€10,913
up €10,913 (+90.6%), from €12,039 to €22,951
- Trade debts +€3,075
up €3,075 (+68.3%), from €4,503 to €7,579
- Other debts -€2,700
down €2,700 (-82.4%), from €3,278 to €577
- Gross operating margin +€20,820
up €20,820 (+49.8%), from €41,781 to €62,602
- Taxes +€6,797
up €6,797 (+64.9%), from €10,466 to €17,262
- Depreciation +€1,148
up €1,148 (+227%), from €506 to €1,654
- Other operating charges -€896
down €896 (-65.7%), from €1,363 to €467
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 | €137,104 | €190,421 | +€53,317 | +38.9% |
| Fixed assets | 21/28 | €5,756 | €2,802 | -€2,954 | -51.3% |
| Tangible fixed assets | 22/27 | €4,456 | €2,802 | -€1,654 | -37.1% |
| Furniture and vehicles | 24 | €4,456 | €2,802 | -€1,654 | -37.1% |
| Financial fixed assets | 28 | €1,300 | - | -€1,300 | |
| Current assets | 29/58 | €131,348 | €187,619 | +€56,271 | +42.8% |
| Amounts receivable within one year | 40/41 | €20,694 | €13,944 | -€6,751 | -32.6% |
| Trade receivables | 40 | €20,338 | €13,944 | -€6,395 | -31.4% |
| Other amounts receivable | 41 | €356 | - | -€356 | |
| Cash at bank and in hand | 54/58 | €110,654 | €173,021 | +€62,368 | +56.4% |
| Deferred charges and accrued income | 490/1 | - | €655 | +€655 | |
| Total equity and liabilities | 10/49 | €137,104 | €190,421 | +€53,317 | +38.9% |
| Equity | 10/15 | €99,784 | €141,814 | +€42,030 | +42.1% |
| Contributions | 10/11 | €77,500 | €77,500 | = | 0.0% |
| Capital | 10 | €77,500 | €77,500 | = | 0.0% |
| Issued capital | 100 | €77,500 | €77,500 | = | 0.0% |
| Reserves | 13 | €22,200 | €64,100 | +€41,900 | +189% |
| Distributable reserves | 133 | €22,200 | €64,100 | +€41,900 | +189% |
| Profit (loss) carried forward | 14 | €84 | €214 | +€130 | +154% |
| Amounts payable | 17/49 | €37,320 | €48,607 | +€11,288 | +30.2% |
| Amounts payable after more than one year | 17 | €17,500 | €17,500 | = | 0.0% |
| Financial debts | 170/4 | €17,500 | €17,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €19,820 | €31,107 | +€11,288 | +57.0% |
| Trade debts | 44 | €4,503 | €7,579 | +€3,075 | +68.3% |
| Suppliers | 440/4 | €4,503 | €7,579 | +€3,075 | +68.3% |
| Taxes, remuneration and social security | 45 | €12,039 | €22,951 | +€10,913 | +90.6% |
| Taxes | 450/3 | €12,039 | €22,951 | +€10,913 | +90.6% |
| Other amounts payable | 47/48 | €3,278 | €577 | -€2,700 | -82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €506 | €1,654 | +€1,148 | +227% |
| Other operating charges | 640/8 | €1,363 | €467 | -€896 | -65.7% |
| Gross operating margin | 9900 | €41,781 | €62,602 | +€20,820 | +49.8% |
| Operating profit (loss) | 9901 | €39,912 | €60,480 | +€20,568 | +51.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,696 | €1,188 | -€508 | -30.0% |
| Recurring financial charges | 65 | €1,696 | €1,188 | -€508 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €38,216 | €59,292 | +€21,076 | +55.2% |
| Income taxes | 67/77 | €10,466 | €17,262 | +€6,797 | +64.9% |
| Profit (loss) for the period | 9904 | €27,750 | €42,030 | +€14,280 | +51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,750 | €42,030 | +€14,280 | +51.5% |
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 26 October 2026 via checked.be.