CHARTWELL: 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.
CHARTWELL
Largest movements
- Receivables within one year -€23,979
down €23,979 (-22.4%), from €107,173 to €83,193
of which Trade receivables: -€23,979
- Cash -€20,029
down €20,029 (-48.7%), from €41,164 to €21,136
mainly Contributions, distributions and other (-€90,222) and Deferred charges and accrued income (-€1,469)
- Tangible fixed assets -€2,311
down €2,311 (-37.5%), from €6,159 to €3,848
of which Other tangible fixed assets: -€1,506
- Reserves -€67,457
down €67,457 (-52.0%), from €129,631 to €62,174
- Tax, wage and social debts +€10,665
up €10,665 (+57.9%), from €18,409 to €29,074
- Trade debts +€9,398
up €9,398 (+9136.9%), from €103 to €9,501
- Gross operating margin +€76,163
up €76,163, from -€9,357 to €66,806
- Other operating charges +€15,261
up €15,261 (+2567.7%), from €594 to €15,855
- Taxes +€15,124
up €15,124 (+255.0%), from €5,930 to €21,054
- Financial charges +€2,944
up €2,944 (+513.6%), from €573 to €3,517
- Depreciation +€671
up €671 (+40.9%), from €1,640 to €2,311
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 | €155,996 | €111,146 | -€44,850 | -28.8% |
| Fixed assets | 21/28 | €7,659 | €5,348 | -€2,311 | -30.2% |
| Tangible fixed assets | 22/27 | €6,159 | €3,848 | -€2,311 | -37.5% |
| Plant, machinery and equipment | 23 | €3,148 | €2,342 | -€806 | -25.6% |
| Other tangible fixed assets | 26 | €3,011 | €1,506 | -€1,506 | -50.0% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €148,337 | €105,798 | -€42,539 | -28.7% |
| Amounts receivable within one year | 40/41 | €107,173 | €83,193 | -€23,979 | -22.4% |
| Trade receivables | 40 | €106,889 | €82,910 | -€23,979 | -22.4% |
| Other amounts receivable | 41 | €284 | €284 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €41,164 | €21,136 | -€20,029 | -48.7% |
| Deferred charges and accrued income | 490/1 | - | €1,469 | +€1,469 | |
| Total equity and liabilities | 10/49 | €155,996 | €111,146 | -€44,850 | -28.8% |
| Equity | 10/15 | €128,324 | €62,174 | -€66,151 | -51.5% |
| Reserves | 13 | €129,631 | €62,174 | -€67,457 | -52.0% |
| Distributable reserves | 133 | €129,631 | €62,174 | -€67,457 | -52.0% |
| Profit (loss) carried forward | 14 | -€1,307 | - | +€1,307 | |
| Amounts payable | 17/49 | €27,671 | €48,972 | +€21,301 | +77.0% |
| Amounts payable within one year | 42/48 | €27,671 | €48,972 | +€21,301 | +77.0% |
| Trade debts | 44 | €103 | €9,501 | +€9,398 | +9136.9% |
| Suppliers | 440/4 | €103 | €9,501 | +€9,398 | +9136.9% |
| Taxes, remuneration and social security | 45 | €18,409 | €29,074 | +€10,665 | +57.9% |
| Taxes | 450/3 | €18,409 | €29,074 | +€10,665 | +57.9% |
| Other amounts payable | 47/48 | €9,159 | €10,397 | +€1,238 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,640 | €2,311 | +€671 | +40.9% |
| Other operating charges | 640/8 | €594 | €15,855 | +€15,261 | +2567.7% |
| Gross operating margin | 9900 | -€9,357 | €66,806 | +€76,163 | |
| Operating profit (loss) | 9901 | -€11,592 | €48,639 | +€60,231 | |
| Financial income | 75/76B | €59 | €3 | -€56 | -95.0% |
| Recurring financial income | 75 | €59 | €3 | -€56 | -95.0% |
| Financial charges | 65/66B | €573 | €3,517 | +€2,944 | +513.6% |
| Recurring financial charges | 65 | €573 | €3,517 | +€2,944 | +513.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,106 | €45,125 | +€57,231 | |
| Income taxes | 67/77 | €5,930 | €21,054 | +€15,124 | +255.0% |
| Profit (loss) for the period | 9904 | -€18,036 | €24,072 | +€42,107 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,036 | €24,072 | +€42,107 |
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 28 September 2026 via checked.be.