CHARLSSEN: 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.
CHARLSSEN
Largest movements
- Tangible fixed assets +€260,315
up €260,315 (+27.6%), from €942,609 to €1.2m
of which Plant, machinery and equipment: +€369,063
- Deferred charges and accrued income +€31,016
up €31,016 (+358.9%), from €8,642 to €39,657
- Receivables within one year +€18,033
up €18,033 (+10.7%), from €168,523 to €186,556
- Cash -€17,294
down €17,294 (-14.2%), from €121,898 to €104,604
mainly Investment in fixed assets (net) (-€558,390) and Deferred charges and accrued income (-€31,016)
- Debts after one year +€146,430
up €146,430 (+23.9%), from €613,710 to €760,140
- Trade debts +€91,283
up €91,283 (+344.8%), from €26,474 to €117,758
- Current portion of long-term debt +€64,714
up €64,714 (+36.5%), from €177,142 to €241,856
- Depreciation +€78,859
up €78,859 (+36.0%), from €219,216 to €298,075
- Gross operating margin +€57,180
up €57,180 (+21.9%), from €261,120 to €318,300
- Financial charges +€8,423
up €8,423 (+50.8%), from €16,584 to €25,007
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 | €1,241,671 | €1,533,742 | +€292,070 | +23.5% |
| Fixed assets | 21/28 | €942,609 | €1,202,924 | +€260,315 | +27.6% |
| Tangible fixed assets | 22/27 | €942,609 | €1,202,924 | +€260,315 | +27.6% |
| Plant, machinery and equipment | 23 | €451,840 | €820,904 | +€369,063 | +81.7% |
| Furniture and vehicles | 24 | €490,769 | €382,020 | -€108,748 | -22.2% |
| Current assets | 29/58 | €299,062 | €330,818 | +€31,756 | +10.6% |
| Amounts receivable within one year | 40/41 | €168,523 | €186,556 | +€18,033 | +10.7% |
| Trade receivables | 40 | €168,523 | €186,556 | +€18,033 | +10.7% |
| Cash at bank and in hand | 54/58 | €121,898 | €104,604 | -€17,294 | -14.2% |
| Deferred charges and accrued income | 490/1 | €8,642 | €39,657 | +€31,016 | +358.9% |
| Total equity and liabilities | 10/49 | €1,241,671 | €1,533,742 | +€292,070 | +23.5% |
| Equity | 10/15 | €342,533 | €337,462 | -€5,070 | -1.5% |
| Contributions | 10/11 | €22,310 | €22,310 | = | 0.0% |
| Reserves | 13 | €2,231 | €2,231 | = | 0.0% |
| Distributable reserves | 133 | €2,231 | €2,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | €317,991 | €312,921 | -€5,070 | -1.6% |
| Amounts payable | 17/49 | €899,139 | €1,196,279 | +€297,141 | +33.0% |
| Amounts payable after more than one year | 17 | €613,710 | €760,140 | +€146,430 | +23.9% |
| Financial debts | 170/4 | €613,710 | €760,140 | +€146,430 | +23.9% |
| Amounts payable within one year | 42/48 | €285,429 | €436,139 | +€150,711 | +52.8% |
| Current portion of amounts payable after more than one year | 42 | €177,142 | €241,856 | +€64,714 | +36.5% |
| Trade debts | 44 | €26,474 | €117,758 | +€91,283 | +344.8% |
| Suppliers | 440/4 | €26,474 | €117,758 | +€91,283 | +344.8% |
| Taxes, remuneration and social security | 45 | €16,218 | €10,931 | -€5,287 | -32.6% |
| Taxes | 450/3 | €16,218 | €10,931 | -€5,287 | -32.6% |
| Other amounts payable | 47/48 | €65,594 | €65,594 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219,216 | €298,075 | +€78,859 | +36.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €803 | - | -€803 | |
| Other operating charges | 640/8 | €1,190 | €1,224 | +€34 | +2.9% |
| Gross operating margin | 9900 | €261,120 | €318,300 | +€57,180 | +21.9% |
| Operating profit (loss) | 9901 | €39,912 | €19,001 | -€20,911 | -52.4% |
| Financial income | 75/76B | €1,220 | €936 | -€284 | -23.3% |
| Recurring financial income | 75 | €1,220 | €936 | -€284 | -23.3% |
| Financial charges | 65/66B | €16,584 | €25,007 | +€8,423 | +50.8% |
| Recurring financial charges | 65 | €16,584 | €25,007 | +€8,423 | +50.8% |
| Profit (loss) for the period before taxes | 9903 | €24,548 | -€5,070 | -€29,618 | |
| Profit (loss) for the period | 9904 | €24,548 | -€5,070 | -€29,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,548 | -€5,070 | -€29,618 |
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.