DR. CARCHON: 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.
DR. CARCHON
Largest movements
- Tangible fixed assets -€35,560
down €35,560 (-78.8%), from €45,110 to €9,550
of which Land and buildings: -€27,540
- Cash +€20,172
up €20,172 (+55.4%), from €36,425 to €56,598
mainly Investment in fixed assets (net) (+€29,676) and Trade debts (+€12,310)
- Receivables within one year -€2,592
down €2,592 (-8.9%), from €29,230 to €26,638
of which Trade receivables: -€5,274
- Profit (loss) carried forward -€26,854
down €26,854 (-73.0%), from -€36,776 to -€63,630
- Trade debts +€12,310
up €12,310 (+890.4%), from €1,383 to €13,692
- Short-term financial debts -€3,119
no longer reported in 2025 (was €3,119)
- Gross operating margin -€42,306
down €42,306, from €23,240 to -€19,066
- Depreciation -€5,024
down €5,024 (-46.1%), from €10,909 to €5,885
- Taxes -€2,419
down €2,419 (-86.9%), from €2,784 to €364
- Financial charges -€323
down €323 (-23.0%), from €1,404 to €1,081
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 | €113,416 | €96,197 | -€17,219 | -15.2% |
| Fixed assets | 21/28 | €45,129 | €9,569 | -€35,560 | -78.8% |
| Tangible fixed assets | 22/27 | €45,110 | €9,550 | -€35,560 | -78.8% |
| Land and buildings | 22 | €27,540 | - | -€27,540 | |
| Plant, machinery and equipment | 23 | €7,655 | €3,887 | -€3,767 | -49.2% |
| Furniture and vehicles | 24 | €3,187 | €263 | -€2,924 | -91.8% |
| Other tangible fixed assets | 26 | €6,729 | €5,400 | -€1,329 | -19.7% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €68,287 | €86,628 | +€18,341 | +26.9% |
| Amounts receivable within one year | 40/41 | €29,230 | €26,638 | -€2,592 | -8.9% |
| Trade receivables | 40 | €7,908 | €2,633 | -€5,274 | -66.7% |
| Other amounts receivable | 41 | €21,323 | €24,005 | +€2,682 | +12.6% |
| Cash at bank and in hand | 54/58 | €36,425 | €56,598 | +€20,172 | +55.4% |
| Deferred charges and accrued income | 490/1 | €2,631 | €3,392 | +€761 | +28.9% |
| Total equity and liabilities | 10/49 | €113,416 | €96,197 | -€17,219 | -15.2% |
| Equity | 10/15 | €108,915 | €82,061 | -€26,854 | -24.7% |
| Contributions | 10/11 | €126,941 | €126,941 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,776 | -€63,630 | -€26,854 | -73.0% |
| Amounts payable | 17/49 | €4,501 | €14,136 | +€9,635 | +214.1% |
| Amounts payable within one year | 42/48 | €4,501 | €14,136 | +€9,635 | +214.1% |
| Financial debts | 43 | €3,119 | - | -€3,119 | |
| Credit institutions | 430/8 | €3,119 | - | -€3,119 | |
| Trade debts | 44 | €1,383 | €13,692 | +€12,310 | +890.4% |
| Suppliers | 440/4 | €1,383 | €13,692 | +€12,310 | +890.4% |
| Taxes, remuneration and social security | 45 | - | €443 | +€443 | |
| Taxes | 450/3 | - | €443 | +€443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,909 | €5,885 | -€5,024 | -46.1% |
| Other operating charges | 640/8 | €798 | €654 | -€144 | -18.1% |
| Gross operating margin | 9900 | €23,240 | -€19,066 | -€42,306 | |
| Operating profit (loss) | 9901 | €11,532 | -€25,605 | -€37,137 | |
| Financial income | 75/76B | €275 | €196 | -€79 | -28.6% |
| Recurring financial income | 75 | €275 | €196 | -€79 | -28.6% |
| Financial charges | 65/66B | €1,404 | €1,081 | -€323 | -23.0% |
| Recurring financial charges | 65 | €1,404 | €1,081 | -€323 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €10,404 | -€26,489 | -€36,893 | |
| Income taxes | 67/77 | €2,784 | €364 | -€2,419 | -86.9% |
| Profit (loss) for the period | 9904 | €7,620 | -€26,854 | -€34,474 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,620 | -€26,854 | -€34,474 |
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 8 October 2026 via checked.be.