CHARMAX: 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.
CHARMAX
Largest movements
- Tangible fixed assets +€118,594
up €118,594 (+25.7%), from €461,267 to €579,862
of which Other tangible fixed assets: +€136,960
- Receivables within one year +€14,438
up €14,438 (+18.9%), from €76,471 to €90,909
of which Other amounts receivable: +€14,438
- Other debts +€101,755
up €101,755 (+324.0%), from €31,404 to €133,159
- Debts after one year +€55,000
up €55,000 (+11.3%), from €485,994 to €540,994
of which Other amounts payable: +€55,000
- Current portion of long-term debt -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Profit (loss) carried forward -€12,729
down €12,729 (-292.4%), from -€4,353 to -€17,082
- Gross operating margin -€9,606
down €9,606 (-26.3%), from €36,561 to €26,955
- Depreciation +€7,840
up €7,840 (+27.6%), from €28,447 to €36,287
- Financial charges -€1,502
down €1,502 (-61.2%), from €2,454 to €953
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 | €563,916 | €687,470 | +€123,555 | +21.9% |
| Fixed assets | 21/28 | €461,267 | €579,862 | +€118,594 | +25.7% |
| Tangible fixed assets | 22/27 | €461,267 | €579,862 | +€118,594 | +25.7% |
| Land and buildings | 22 | €316,126 | €256,648 | -€59,478 | -18.8% |
| Plant, machinery and equipment | 23 | €66,767 | €107,879 | +€41,112 | +61.6% |
| Other tangible fixed assets | 26 | €78,375 | €215,335 | +€136,960 | +174.7% |
| Current assets | 29/58 | €102,648 | €107,609 | +€4,961 | +4.8% |
| Amounts receivable within one year | 40/41 | €76,471 | €90,909 | +€14,438 | +18.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €76,471 | €90,909 | +€14,438 | +18.9% |
| Cash at bank and in hand | 54/58 | €21,703 | €14,831 | -€6,872 | -31.7% |
| Deferred charges and accrued income | 490/1 | €4,474 | €1,869 | -€2,605 | -58.2% |
| Total equity and liabilities | 10/49 | €563,916 | €687,470 | +€123,555 | +21.9% |
| Equity | 10/15 | €15,647 | €2,918 | -€12,729 | -81.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,353 | -€17,082 | -€12,729 | -292.4% |
| Amounts payable | 17/49 | €548,268 | €684,552 | +€136,284 | +24.9% |
| Amounts payable after more than one year | 17 | €485,994 | €540,994 | +€55,000 | +11.3% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €485,994 | €540,994 | +€55,000 | +11.3% |
| Amounts payable within one year | 42/48 | €62,274 | €143,558 | +€81,284 | +130.5% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €0 | -€25,000 | -100.0% |
| Trade debts | 44 | €5,870 | €10,399 | +€4,529 | +77.2% |
| Suppliers | 440/4 | €5,870 | €10,399 | +€4,529 | +77.2% |
| Other amounts payable | 47/48 | €31,404 | €133,159 | +€101,755 | +324.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,447 | €36,287 | +€7,840 | +27.6% |
| Other operating charges | 640/8 | €2,533 | €2,543 | +€10 | +0.4% |
| Gross operating margin | 9900 | €36,561 | €26,955 | -€9,606 | -26.3% |
| Operating profit (loss) | 9901 | €5,581 | -€11,875 | -€17,456 | |
| Financial income | 75/76B | - | €98 | +€98 | |
| Recurring financial income | 75 | - | €98 | +€98 | |
| Financial charges | 65/66B | €2,454 | €953 | -€1,502 | -61.2% |
| Recurring financial charges | 65 | €2,454 | €953 | -€1,502 | -61.2% |
| Profit (loss) for the period before taxes | 9903 | €3,127 | -€12,729 | -€15,856 | |
| Profit (loss) for the period | 9904 | €3,127 | -€12,729 | -€15,856 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,127 | -€12,729 | -€15,856 |
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 3 October 2026 via checked.be.