CHERKAOUI: 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.
CHERKAOUI
Largest movements
- Receivables within one year -€33,642
down €33,642 (-23.5%), from €143,171 to €109,529
of which Other amounts receivable: -€33,642
- Cash +€24,883
up €24,883 (+245.2%), from €10,146 to €35,030
mainly Receivables within one year (+€33,642) and Depreciation (+€8,414)
- Tangible fixed assets -€8,414
down €8,414 (-39.3%), from €21,393 to €12,979
of which Other tangible fixed assets: -€7,571
- Deferred charges and accrued income +€3,507
up €3,507 (+307.1%), from €1,142 to €4,648
- Reserves -€7,813
down €7,813 (-4.2%), from €184,131 to €176,318
of which Distributable reserves: -€7,813
- Other debts -€3,426
no longer reported in 2025 (was €3,426)
- Gross operating margin -€27,186
down €27,186, from €21,636 to -€5,550
- Depreciation -€10,083
down €10,083 (-54.5%), from €18,497 to €8,414
- Financial income +€3,291
up €3,291 (+244.8%), from €1,344 to €4,635
- Taxes -€1,830
down €1,830, from €842 to -€988
- Other operating charges -€253
down €253 (-33.3%), from €760 to €507
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 | €213,602 | €199,936 | -€13,666 | -6.4% |
| Fixed assets | 21/28 | €21,393 | €12,979 | -€8,414 | -39.3% |
| Tangible fixed assets | 22/27 | €21,393 | €12,979 | -€8,414 | -39.3% |
| Furniture and vehicles | 24 | €843 | - | -€843 | |
| Other tangible fixed assets | 26 | €20,550 | €12,979 | -€7,571 | -36.8% |
| Current assets | 29/58 | €192,209 | €186,957 | -€5,252 | -2.7% |
| Amounts receivable after more than one year | 29 | €37,500 | €37,500 | = | 0.0% |
| Other amounts receivable | 291 | €37,500 | €37,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €143,171 | €109,529 | -€33,642 | -23.5% |
| Trade receivables | 40 | €4,122 | €4,122 | = | 0.0% |
| Other amounts receivable | 41 | €139,049 | €105,407 | -€33,642 | -24.2% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,146 | €35,030 | +€24,883 | +245.2% |
| Deferred charges and accrued income | 490/1 | €1,142 | €4,648 | +€3,507 | +307.1% |
| Total equity and liabilities | 10/49 | €213,602 | €199,936 | -€13,666 | -6.4% |
| Equity | 10/15 | €202,731 | €193,710 | -€9,021 | -4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €184,131 | €176,318 | -€7,813 | -4.2% |
| Non-distributable reserves | 130/1 | €3,946 | €3,946 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,946 | €3,946 | = | 0.0% |
| Distributable reserves | 133 | €180,185 | €172,372 | -€7,813 | -4.3% |
| Profit (loss) carried forward | 14 | - | -€1,208 | -€1,208 | |
| Amounts payable | 17/49 | €10,871 | €6,226 | -€4,645 | -42.7% |
| Amounts payable within one year | 42/48 | €10,653 | €6,226 | -€4,426 | -41.6% |
| Trade debts | 44 | €245 | €245 | = | 0.0% |
| Suppliers | 440/4 | €245 | €245 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,981 | €5,981 | -€1,000 | -14.3% |
| Taxes | 450/3 | €6,981 | €5,981 | -€1,000 | -14.3% |
| Other amounts payable | 47/48 | €3,426 | - | -€3,426 | |
| Accrued charges and deferred income | 492/3 | €218 | - | -€218 | |
| Non-recurring operating income | 76A | €15,233 | - | -€15,233 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,497 | €8,414 | -€10,083 | -54.5% |
| Other operating charges | 640/8 | €760 | €507 | -€253 | -33.3% |
| Gross operating margin | 9900 | €21,636 | -€5,550 | -€27,186 | |
| Operating profit (loss) | 9901 | €2,378 | -€14,471 | -€16,850 | |
| Financial income | 75/76B | €1,344 | €4,635 | +€3,291 | +244.8% |
| Recurring financial income | 75 | €1,344 | €4,635 | +€3,291 | +244.8% |
| Financial charges | 65/66B | €207 | €172 | -€34 | -16.6% |
| Recurring financial charges | 65 | €207 | €172 | -€34 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €3,515 | -€10,009 | -€13,525 | |
| Income taxes | 67/77 | €842 | -€988 | -€1,830 | |
| Profit (loss) for the period | 9904 | €2,674 | -€9,021 | -€11,695 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,674 | -€9,021 | -€11,695 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.