CHARLING: 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.
CHARLING
Largest movements
- Receivables within one year -€438,750
down €438,750 (-15.7%), from €2.8m to €2.3m
of which Trade receivables: -€548,244
- Cash +€382,473
up €382,473 (+783.0%), from €48,848 to €431,321
mainly Trade debts (+€746,243) and Receivables within one year (+€438,750)
- Stocks and contracts +€69,611
up €69,611 (+3.7%), from €1.9m to €1.9m
- Intangible fixed assets -€59,673
down €59,673 (-25.0%), from €238,773 to €179,100
- Trade debts +€746,243
up €746,243 (+55.6%), from €1.3m to €2.1m
- Other debts -€477,634
down €477,634 (-65.2%), from €732,634 to €255,000
- Profit (loss) carried forward -€407,390
down €407,390 (-18.9%), from €2.1m to €1.7m
- Short-term financial debts +€301,302
new in 2025: €301,302
- Current portion of long-term debt -€211,050
down €211,050 (-80.8%), from €261,095 to €50,045
- Gross operating margin -€982,936
down €982,936 (-22.0%), from €4.5m to €3.5m
- Depreciation -€152,328
down €152,328 (-26.9%), from €567,132 to €414,804
- Taxes -€85,793
down €85,793 (-72.1%), from €118,959 to €33,167
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 | €5,473,456 | €5,431,576 | -€41,879 | -0.8% |
| Fixed assets | 21/28 | €759,460 | €668,963 | -€90,496 | -11.9% |
| Intangible fixed assets | 21 | €238,773 | €179,100 | -€59,673 | -25.0% |
| Tangible fixed assets | 22/27 | €509,747 | €489,864 | -€19,884 | -3.9% |
| Plant, machinery and equipment | 23 | €106,448 | €312,942 | +€206,494 | +194.0% |
| Furniture and vehicles | 24 | €13,961 | €29,165 | +€15,204 | +108.9% |
| Leasing and similar rights | 25 | €384,469 | €147,757 | -€236,712 | -61.6% |
| Assets under construction and advance payments | 27 | €4,869 | - | -€4,869 | |
| Financial fixed assets | 28 | €10,940 | - | -€10,940 | |
| Current assets | 29/58 | €4,713,996 | €4,762,613 | +€48,617 | +1.0% |
| Stocks and contracts in progress | 3 | €1,878,104 | €1,947,715 | +€69,611 | +3.7% |
| Stocks | 30/36 | €1,878,104 | €1,947,715 | +€69,611 | +3.7% |
| Amounts receivable within one year | 40/41 | €2,787,045 | €2,348,294 | -€438,750 | -15.7% |
| Trade receivables | 40 | €2,281,174 | €1,732,930 | -€548,244 | -24.0% |
| Other amounts receivable | 41 | €505,870 | €615,364 | +€109,494 | +21.6% |
| Cash at bank and in hand | 54/58 | €48,848 | €431,321 | +€382,473 | +783.0% |
| Deferred charges and accrued income | 490/1 | - | €35,283 | +€35,283 | |
| Total equity and liabilities | 10/49 | €5,473,456 | €5,431,576 | -€41,879 | -0.8% |
| Equity | 10/15 | €2,667,594 | €2,311,659 | -€355,935 | -13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,154 | €362,154 | = | 0.0% |
| Tax-exempt reserves | 132 | €444 | €444 | = | 0.0% |
| Distributable reserves | 133 | €361,710 | €361,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,149,857 | €1,742,467 | -€407,390 | -18.9% |
| Investment grants | 15 | €136,983 | €188,437 | +€51,454 | +37.6% |
| Amounts payable | 17/49 | €2,805,862 | €3,119,918 | +€314,056 | +11.2% |
| Amounts payable after more than one year | 17 | €66,193 | €16,148 | -€50,045 | -75.6% |
| Financial debts | 170/4 | €66,193 | €16,148 | -€50,045 | -75.6% |
| Amounts payable within one year | 42/48 | €2,737,829 | €3,103,770 | +€365,941 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €261,095 | €50,045 | -€211,050 | -80.8% |
| Financial debts | 43 | - | €301,302 | +€301,302 | |
| Credit institutions | 430/8 | - | €301,302 | +€301,302 | |
| Trade debts | 44 | €1,342,286 | €2,088,529 | +€746,243 | +55.6% |
| Suppliers | 440/4 | €1,342,286 | €2,088,529 | +€746,243 | +55.6% |
| Taxes, remuneration and social security | 45 | €401,814 | €408,894 | +€7,080 | +1.8% |
| Taxes | 450/3 | €79,909 | €59,552 | -€20,358 | -25.5% |
| Remuneration and social security | 454/9 | €321,905 | €349,343 | +€27,438 | +8.5% |
| Other amounts payable | 47/48 | €732,634 | €255,000 | -€477,634 | -65.2% |
| Accrued charges and deferred income | 492/3 | €1,840 | - | -€1,840 | |
| Remuneration, social security and pensions | 62 | €2,735,720 | €2,720,093 | -€15,627 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €567,132 | €414,804 | -€152,328 | -26.9% |
| Other operating charges | 640/8 | €3,150 | €5,268 | +€2,118 | +67.2% |
| Gross operating margin | 9900 | €4,470,805 | €3,487,868 | -€982,936 | -22.0% |
| Operating profit (loss) | 9901 | €1,164,803 | €347,703 | -€817,099 | -70.1% |
| Financial income | 75/76B | €36,450 | €40,227 | +€3,777 | +10.4% |
| Recurring financial income | 75 | €36,450 | €40,227 | +€3,777 | +10.4% |
| Financial charges | 65/66B | €5,552 | €7,154 | +€1,601 | +28.8% |
| Recurring financial charges | 65 | €5,552 | €7,154 | +€1,601 | +28.8% |
| Profit (loss) for the period before taxes | 9903 | €1,195,700 | €380,777 | -€814,923 | -68.2% |
| Income taxes | 67/77 | €118,959 | €33,167 | -€85,793 | -72.1% |
| Profit (loss) for the period | 9904 | €1,076,741 | €347,610 | -€729,131 | -67.7% |
| Transfer from tax-exempt reserves | 789 | €105,250 | - | -€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,181,991 | €347,610 | -€834,381 | -70.6% |
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 5 October 2026 via checked.be.