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CLAREBOUT

Active
Public limited companyfounded 1994active for 32 yearsHeirweg(Nieuwk) 26, 8950 Heuvelland, BelgiumKBO/BCE: BE 0452.829.157

Financials · financial year 2024, full format, standalone accounts

2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 1 November 2026.

Annual accounts 2024 filed on 01-07-2025 PDF all 43 filings

Turnover
€794.6m▲ 36.9%
2023 · €580.5m
EBIT margin
1.1%▲ 0.8pp
2023 · 0.3%
Net result
€5.9m▼ 97.1%
2023 · €205.3m
Working capital
-€84.6m▼ 83.9%
2023 · -€46.0m
Trend over the years

2020 to 2024, 5 financial years 2018 to 2024, 7 financial years

The operating result for 2024 is 5.5 times that of 2023 and the highest since 2020. It is a recovery after the fall in 2023.

Turnover€794.6m 2024 Operating result€8.9m 2024 Net result€5.9m 2024

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line2018201920202021202220232024
Turnover€274.1m-€361.6m▲ 31.9%€295.5m▼ 18.3%€321.3m▲ 8.7%€430.7m▲ 34.1%€580.5m▲ 34.8%€794.6m▲ 36.9%
Operating result€1.3m-€4.8m▲ 282%€1.8m▼ 62.6%-€2.5m€2.6m€1.6m▼ 37.5%€8.9m▲ 452%
Net result€0.4m-€3.0m▲ 690%€1.3mabove the sector's middle half▼ 55.4%-€2.2mbelow the sector's middle half€2.6mabove the sector's middle half€205.3mabove the sector's middle half▲ 79×€5.9mabove the sector's middle half▼ 97.1%
EBIT margin0.5%-1.3%▲ 0.9pp0.6%▼ 0.7pp-0.8%▼ 1.4pp0.6%▲ 1.4pp0.3%▼ 0.3pp1.1%▲ 0.8pp
Equity€13.3m-€16.3m▲ 22.5%€17.6mabove the sector's middle half▲ 8.2%€15.4mabove the sector's middle half▼ 12.5%€18.0mabove the sector's middle half▲ 16.8%€223.2mabove the sector's middle half▲ 12×€229.2mabove the sector's middle half▲ 2.7%
Total assets€111.8m-€137.1m▲ 22.7%€146.4mabove the sector's middle half▲ 6.8%€169.2mabove the sector's middle half▲ 15.6%€191.8mabove the sector's middle half▲ 13.4%€500.2mabove the sector's middle half▲ 161%€591.7mabove the sector's middle half▲ 18.3%
Debt€98.5m-€120.8m▲ 22.7%€128.8m▲ 6.6%€153.8m▲ 19.4%€173.9m▲ 13.1%€277.0m▲ 59.3%€362.5m▲ 30.9%
Working capital-€59.6m--€59.3m▲ 0.4%-€73.1mbelow the sector's middle half▼ 23.3%-€72.6mbelow the sector's middle half▲ 0.8%-€90.6mbelow the sector's middle half▼ 24.9%-€46.0mbelow the sector's middle half▲ 49.2%-€84.6mbelow the sector's middle half▼ 83.9%
Solvency11.9%-11.9%=12.0%below the sector's middle half▲ 0.2pp9.1%below the sector's middle half▼ 2.9pp9.4%below the sector's middle half▲ 0.3pp44.6%within the sector's middle half▲ 35.3pp38.7%within the sector's middle half▼ 5.9pp
Current ratio0.31-0.33▲ 0.010.29below the sector's middle half▼ 0.040.28below the sector's middle half▼ 0.010.34below the sector's middle half▲ 0.060.71below the sector's middle half▲ 0.370.69below the sector's middle half▼ 0.02
Return on assets (ROA)0.3%-2.2%▲ 1.8pp0.9%within the sector's middle half▼ 1.3pp-1.3%below the sector's middle half▼ 2.2pp1.4%within the sector's middle half▲ 2.7pp41.0%above the sector's middle half▲ 39.7pp1.0%within the sector's middle half▼ 40.0pp
Staff (FTE)22-22=23.2above the sector's middle half▲ 5.5%22.7above the sector's middle half▼ 2.2%22.5above the sector's middle half▼ 0.9%24.9above the sector's middle half▲ 10.7%32.4above the sector's middle half▲ 30.1%
above within below The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Large changes and their cause
  • 2020 Net result -55% on 2019. Merger absorbing H.J.R. ITRACO, Official Gazette 02-08-2019, in the previous financial year. That operation now counts for a full year for the first time.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €591.7m
Fixed assets €403.8m ▲ 4.8%
Current assets €187.8m ▲ 63.7%
Equity and liabilities €591.7m
Equity €229.2m ▲ 2.7%
Debt €362.5m ▲ 30.9%
Debt's share of the balance-sheet total rises from 55.4% to 61.3%. Equity and debt are higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
€12.9m▲
2023 · €4.9m
Cash flow
€10.0m▼
2023 · €208.6m
Quick ratio
0.61▲
2023 · 0.54
Debt to equity
1.58▲
2023 · 1.24
ROE
2.6%▼
2023 · 92.0%
Interest coverage
2.23▲
2023 · 1.22
Debt ≤ 1 year
€272.4m▲
2023 · €160.7m
Debt > 1 year
€89.3m▼
2023 · €115.3m
Income taxes
€1.4m▲
2023 · €63,986
Customer credit
31 days▼
2023 · 42 days
Supplier credit
115 days▲
2023 · 77 days
Staff costs
€2.8m▲
2023 · €2.0m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as CLAREBOUT: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €76m and €391m, founded between 1985 and 2003.

CompanyFoundedTotal assetsEquityGross marginTurnoverNet resultFTEFinancial year
CLAREBOUT Heuvelland1994€591.7m€229.2m-€794.6m€5.9m32.42024
BDC INTERNATIONAL Mont-Saint-Guibert1985€110.9m€74.9m-€66.3m€4.6m212025
VAN MARCKE TRADING GROUP Kortrijk1989€138.6m€35.0m-€16.6m-€4.8m66.82025
SAN VITO Sint-Lambrechts-Woluwe1993€391.3m€37.0m-€0.09m-€7.4m-2025
Asahi Kasei Bioprocess Europe Schaarbeek2003€75.7m€9.3m-€136.2m€8.7m16.82026
FIWEP Sint-Lambrechts-Woluwe1996€187.2m€149.7m-€0.1m-€7.8m-2025
PARCOFIN Gembloux1999€213.2m€45.2m-€0.06m-€0.007m-2025

They were chosen from the 1,742 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 95 lines

Source: Annual accounts 2024 (PDF), filed on 01-07-2025.

Balance sheet Code20232024
Assets
Total assets20/58€500.2m€591.7m▲
Fixed assets21/28€385.5m€403.8m▲
Intangible fixed assets21€0.01m€0.01m=
Tangible fixed assets22/27€85.9m€90.9m▲
Land and buildings22€79.3m€87.7m▲
Plant, machinery and equipment23€1.3m€1.5m▲
Furniture and vehicles24€0.3m€0.3m▼
Leasing and similar rights25€1.5m€1.4m▼
Assets under construction and advance payments27€3.6m€0.05m▼
Financial fixed assets28€299.5m€312.9m▲
Affiliated companies280/1€214.1m€212.4m▼
Participating interests280€214.1m€212.4m▼
Companies linked by participating interests282/3€47.4m€52.4m▲
Participating interests282€42.4m€47.4m▲
Amounts receivable283€5.0m€5.0m=
Other financial fixed assets284/8€38.0m€48.1m▲
Shares284€36.5m€45.8m▲
Amounts receivable and cash guarantees285/8€1.5m€2.3m▲
Current assets29/58€114.7m€187.8m▲
Amounts receivable after more than one year29-€0.4m
Other amounts receivable291-€0.4m
Stocks and contracts in progress3€27.5m€22.5m▼
Stocks30/36€27.5m€22.5m▼
Goods purchased for resale34€27.5m€22.5m▼
Amounts receivable within one year40/41€76.2m€125.4m▲
Trade receivables40€66.1m€67.6m▲
Other amounts receivable41€10.1m€57.8m▲
Current investments50/53€8.4m€36.0m▲
Own shares50€8.4m€8.4m=
Other investments51/53-€27.6m
Cash at bank and in hand54/58€2.2m€2.3m▲
Deferred charges and accrued income490/1€0.4m€1.3m▲
Equity and liabilities
Total equity and liabilities10/49€500.2m€591.7m▲
Equity10/15€223.2m€229.2m▲
Contributions10/11€0.06m€0.06m=
Capital10€0.06m€0.06m=
Issued capital100€0.06m€0.06m=
Reserves13€223.2m€229.1m▲
Non-distributable reserves130/1€9.1m€9.1m=
Legal reserve130€0.7m€0.7m=
Own shares acquired1312€8.4m€8.4m=
Tax-exempt reserves132€1.0m-
Distributable reserves133€213.1m€220.0m▲
Amounts payable17/49€277.0m€362.5m▲
Amounts payable after more than one year17€115.3m€89.3m▼
Financial debts170/4€114.7m€88.9m▼
Subordinated loans170€3.9m€3.9m=
Leasing and similar obligations172€0.4m€0.2m▼
Credit institutions173€108.3m€84.8m▼
Other loans174€2.1m-
Other amounts payable178/9€0.6m€0.4m▼
Amounts payable within one year42/48€160.7m€272.4m▲
Current portion of amounts payable after more than one year42€26.0m€25.9m▼
Trade debts44€118.8m€241.9m▲
Suppliers440/4€118.8m€241.9m▲
Taxes, remuneration and social security45€2.1m€1.6m▼
Taxes450/3€1.7m€1.1m▼
Remuneration and social security454/9€0.4m€0.4m▲
Other amounts payable47/48€13.8m€3.0m▼
Accrued charges and deferred income492/3€0.9m€0.8m▼
Income statement Code20232024
Operating income70/76A€581.2m€794.8m▲
Turnover70€580.5m€794.6m▲
Other operating income74€0.6m€0.006m▼
Non-recurring operating income76A€0.04m€0.2m▲
Operating charges60/66A€579.6m€786.0m▲
Goods for resale, raw materials and consumables60€565.8m€768.4m▲
Purchases600/8€570.4m€763.4m▲
Change in stocks: decrease (increase)609-€4.6m€5.1m▲
Services and other goods61€8.0m€10.0m▲
Remuneration, social security and pensions62€2.0m€2.8m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3.3m€4.1m▲
Other operating charges640/8€0.4m€0.6m▲
Non-recurring operating charges66A-€0.001m
Operating profit (loss)9901€1.6m€8.9m▲
Financial income75/76B€208.0m€4.6m▼
Recurring financial income75€208.0m€4.6m▼
Income from financial fixed assets750€207.5m€0.8m▼
Income from current assets751€0.5m€2.2m▲
Other financial income752/9€0.04m€1.5m▲
Financial charges65/66B€4.3m€6.1m▲
Recurring financial charges65€4.3m€6.1m▲
Debt charges650€4.1m€5.8m▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€0.2m
Other financial charges652/9€0.3m€0.1m▼
Profit (loss) for the period before taxes9903€205.3m€7.3m▼
Income taxes67/77€0.06m€1.4m▲
Taxes670/3€0.9m€1.4m▲
Tax adjustments and reversals of tax provisions77€0.8m-
Profit (loss) for the period9904€205.3m€5.9m▼
Transfer from tax-exempt reserves789-€1.0m
Profit (loss) for the period to be appropriated9905€205.3m€6.9m▼
Appropriation of the result
Profit (loss) to be appropriated9906€205.3m€6.9m▼
Transfer to equity691/2€205.3m€6.9m▼
To other reserves6921€205.3m€6.9m▼
Social balance sheet
Average headcount (FTE)908724.932.4▲

The notes to these accounts have 91 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line2018201920202021202220232024Change
Operating income70/76A---€326.7m€431.5m€581.2m€794.8m▲ 36.8%
Turnover70€274.1m€361.6m€295.5m€321.3m€430.7m€580.5m€794.6m▲ 36.9%
Other operating income74---€5.4m€0.7m€0.6m€0.006m▼ 99.1%
Non-recurring operating income76A---€305€0.003m€0.04m€0.2m▲ 368%
Operating charges60/66A---€329.2m€428.9m€579.6m€786.0m▲ 35.6%
Goods for resale, raw materials and consumables60---€315.7m€417.6m€565.8m€768.4m▲ 35.8%
Purchases600/8---€316.3m€421.5m€570.4m€763.4m▲ 33.8%
Change in stocks: decrease (increase)609----€0.6m-€3.9m-€4.6m€5.1m-
Services and other goods61---€8.7m€6.5m€8.0m€10.0m▲ 25.0%
Remuneration, social security and pensions62---€1.5m€1.6m€2.0m€2.8m▲ 38.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.5m€2.5m€2.9m€2.9m€2.9m€3.3m€4.1m▲ 22.4%
Other operating charges640/8---€0.4m€0.3m€0.4m€0.6m▲ 48.2%
Non-recurring operating charges66A------€0.001m-
Operating profit (loss)9901€1.3m€4.8m€1.8m-€2.5m€2.6m€1.6m€8.9m▲ 452%
Financial income75/76B---€1.4m€1.7m€208.0m€4.6m▼ 97.8%
Recurring financial income75€0.05m€0.5m€0.5m€1.4m€1.6m€208.0m€4.6m▼ 97.8%
Income from financial fixed assets750---€1.4m€1.3m€207.5m€0.8m▼ 99.6%
Income from current assets751---€67€0.06m€0.5m€2.2m▲ 329%
Other financial income752/9---€0.02m€0.3m€0.04m€1.5m▲ 41×
Non-recurring financial income76B----€0.06m---
Financial charges65/66B---€1.3m€1.3m€4.3m€6.1m▲ 40.7%
Recurring financial charges65€0.7m€1.1m€1.1m€1.3m€1.3m€4.3m€6.1m▲ 40.7%
Debt charges650€0.7m€1.0m€1.0m€1.0m€1.3m€4.1m€5.8m▲ 42.7%
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651------€0.2m-
Other financial charges652/9---€0.2m€0.04m€0.3m€0.1m▼ 58.8%
Profit (loss) for the period before taxes9903€0.6m€4.2m€2.3m-€2.3m€2.9m€205.3m€7.3m▼ 96.4%
Income taxes67/77€0.3m€1.2m€0.9m-€0.1m€0.3m€0.06m€1.4m▲ 22×
Taxes670/3---€0.007m€0.3m€0.9m€1.4m▲ 62.2%
Tax adjustments and reversals of tax provisions77---€0.1m-€0.8m--
Profit (loss) for the period9904€0.4m€3.0m€1.3m-€2.2m€2.6m€205.3m€5.9m▼ 97.1%
Transfer from tax-exempt reserves789---€0.7m€0.7m-€1.0m-
Transfer to tax-exempt reserves689----€0.9m---
Profit (loss) for the period to be appropriated9905-€3.7m€0.8m-€1.5m€2.5m€205.3m€6.9m▼ 96.6%
Line2018201920202021202220232024Change
Assets
Total assets20/58€111.8m€137.1m€146.4m€169.2m€191.8m€500.2m€591.7m▲ 18.3%
Fixed assets21/28€84.8m€108.5m€117.2m€141.4m€145.1m€385.5m€403.8m▲ 4.8%
Intangible fixed assets21€0.03m€0.01m€0.01m€0.01m€0.01m€0.01m€0.01m=
Tangible fixed assets22/27€52.0m€68.0m€73.7m€66.6m€66.4m€85.9m€90.9m▲ 5.8%
Land and buildings22---€61.9m€60.9m€79.3m€87.7m▲ 10.6%
Plant, machinery and equipment23---€1.6m€1.4m€1.3m€1.5m▲ 17.1%
Furniture and vehicles24---€0.3m€0.2m€0.3m€0.3m▼ 4.1%
Leasing and similar rights25---€1.9m€1.7m€1.5m€1.4m▼ 5.3%
Assets under construction and advance payments27---€1.0m€2.2m€3.6m€0.05m▼ 98.7%
Financial fixed assets28€32.7m€40.5m€43.4m€74.7m€78.7m€299.5m€312.9m▲ 4.5%
Affiliated companies280/1---€42.2m€45.2m€214.1m€212.4m▼ 0.8%
Participating interests280---€42.2m€45.2m€214.1m€212.4m▼ 0.8%
Companies linked by participating interests282/3---€15.9m€15.9m€47.4m€52.4m▲ 10.6%
Participating interests282---€10.9m€10.9m€42.4m€47.4m▲ 11.8%
Amounts receivable283---€5.0m€5.0m€5.0m€5.0m=
Other financial fixed assets284/8---€16.6m€17.6m€38.0m€48.1m▲ 26.6%
Shares284---€15.1m€16.1m€36.5m€45.8m▲ 25.5%
Amounts receivable and cash guarantees285/8---€1.5m€1.5m€1.5m€2.3m▲ 50.9%
Current assets29/58€27.0m€28.6m€29.2m€27.8m€46.7m€114.7m€187.8m▲ 63.7%
Amounts receivable after more than one year29----€0.9m-€0.4m-
Other amounts receivable291----€0.9m-€0.4m-
Stocks and contracts in progress3€15.5m€15.8m€18.5m€19.1m€22.9m€27.5m€22.5m▼ 18.4%
Stocks30/36---€19.1m€22.9m€27.5m€22.5m▼ 18.4%
Goods purchased for resale34---€19.1m€22.9m€27.5m€22.5m▼ 18.4%
Amounts receivable within one year40/41€8.1m€9.0m€8.2m€6.5m€8.3m€76.2m€125.4m▲ 64.6%
Trade receivables40---€2.4m€3.6m€66.1m€67.6m▲ 2.4%
Other amounts receivable41---€4.1m€4.7m€10.1m€57.8m▲ 471%
Current investments50/53----€8.4m€8.4m€36.0m▲ 330%
Own shares50----€8.4m€8.4m€8.4m=
Other investments51/53------€27.6m-
Cash at bank and in hand54/58€3.1m€3.7m€2.1m€1.8m€5.4m€2.2m€2.3m▲ 6.7%
Deferred charges and accrued income490/1---€0.5m€0.7m€0.4m€1.3m▲ 179%
Equity and liabilities
Total equity and liabilities10/49€111.8m€137.1m€146.4m€169.2m€191.8m€500.2m€591.7m▲ 18.3%
Equity10/15€13.3m€16.3m€17.6m€15.4m€18.0m€223.2m€229.2m▲ 2.7%
Contributions10/11€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m=
Capital10---€0.06m€0.06m€0.06m€0.06m=
Issued capital100---€0.06m€0.06m€0.06m€0.06m=
Reserves13€13.2m€16.2m€17.5m€15.3m€17.9m€223.2m€229.1m▲ 2.7%
Non-distributable reserves130/1---€0.7m€9.1m€9.1m€9.1m=
Legal reserve130---€0.7m€0.7m€0.7m€0.7m=
Own shares acquired1312----€8.4m€8.4m€8.4m=
Tax-exempt reserves132---€0.9m€1.0m€1.0m--
Distributable reserves133---€13.7m€7.8m€213.1m€220.0m▲ 3.3%
Amounts payable17/49€98.5m€120.8m€128.8m€153.8m€173.9m€277.0m€362.5m▲ 30.9%
Amounts payable after more than one year17€11.5m€32.4m€26.0m€53.0m€35.9m€115.3m€89.3m▼ 22.6%
Financial debts170/4---€38.4m€35.1m€114.7m€88.9m▼ 22.5%
Subordinated loans170---€3.9m€3.9m€3.9m€3.9m=
Leasing and similar obligations172---€1.3m€0.8m€0.4m€0.2m▼ 45.6%
Credit institutions173---€33.2m€26.2m€108.3m€84.8m▼ 21.7%
Other loans174----€4.2m€2.1m--
Other amounts payable178/9---€14.6m€0.8m€0.6m€0.4m▼ 33.3%
Amounts payable within one year42/48€86.5m€87.9m€102.3m€100.4m€137.3m€160.7m€272.4m▲ 69.5%
Current portion of amounts payable after more than one year42---€9.2m€23.2m€26.0m€25.9m▼ 0.1%
Trade debts44€79.7m€77.5m€91.3m€87.3m€109.6m€118.8m€241.9m▲ 104%
Suppliers440/4---€87.3m€109.6m€118.8m€241.9m▲ 104%
Taxes, remuneration and social security45---€0.4m€0.9m€2.1m€1.6m▼ 27.4%
Taxes450/3---€0.09m€0.6m€1.7m€1.1m▼ 34.7%
Remuneration and social security454/9---€0.3m€0.3m€0.4m€0.4m▲ 3.7%
Other amounts payable47/48---€3.6m€3.6m€13.8m€3.0m▼ 78.1%
Accrued charges and deferred income492/3---€0.4m€0.7m€0.9m€0.8m▼ 12.0%
Line2018201920202021202220232024Change
Profit (loss) for the period9904€0.4m€3.0m€1.3m-€2.2m€2.6m€205.3m€5.9m▼ 97.1%
+ Depreciation and write-downs630€2.5m€2.5m€2.9m€2.9m€2.9m€3.3m€4.1m▲ 22.4%
Operating cash flow (approximation)€2.9m€5.5m€4.2m€0.7m€5.5m€208.6m€10.0m▼ 95.2%
Investment in fixed assets (approximation)--€26.3m-€11.5m-€27.0m-€6.6m-€243.7m-€22.4m▲ 90.8%
Change in cash-€0.6m-€1.5m-€0.4m€3.7m-€3.2m€0.1m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 43 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2024 full format 01-07-2025 2025-00218719 PDF
31-12-2023 full format 27-08-2024 2024-00386630 PDF
31-12-2022 full format 25-08-2023 2023-00362937 PDF
31-12-2021 full format 25-08-2022 2022-20326742 PDF
31-12-2020 full format 25-08-2021 2021-53100324 PDF
31-12-2019 full format 25-08-2020 2020-44600548 PDF
31-12-2018 full format 27-08-2019 2019-53800226 PDF
31-12-2018 consolidated 27-08-2019 2019-54000006 PDF
31-12-2017 consolidated 26-07-2018 2018-38700186 PDF
31-12-2017 full format 25-07-2018 2018-38600044 PDF

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