Charlton Athletic have announced a loss of £3.78m in their accounts for the financial year to the end of June 2015.
The Championship club's match-day income fell by £1.2m but operating expenses were reduced by £1m to 16.8m.
The Addicks made a profit of £4.4m on player sales, which included the departures of Joe Gomez and Diego Poyet to Liverpool and West Ham respectively.
The overall figures are an improvement on the previous year's accounts, where Charlton recorded a loss of £5.72m.
"It is the board's strategy to continue to reduce these levels of losses over time and move towards a break-even position whilst remaining highly competitive in the Championship," chief executive Katrien Meire wrote in a statement.
Meire pointed to "a significant level of investment" in the playing squad and infrastructure at The Valley before the start of the 2014-15 campaign, which included a new playing surface.
The club's overall debt to parent company Baton 2010 Limited grew to £40.1m. Charlton's ultimate holding company is Staprix NL, which is controlled by Addicks owner Roland Duchatelet.
Charlton have struggled on the pitch under three different coaches this season and are currently 23rd in the Championship table, seven points from safety.
Supporters have aimed a series of protests at Meire and Duchatelet in recent months, calling on the Belgian businessman to sell the south-east London club.