B. DE CLERCQ: what changed
Two financial 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.
B. DE CLERCQ
Largest movements
- Tangible fixed assets -€61,773
down €61,773 (-33.9%), from €182,274 to €120,501
of which Furniture and vehicles: -€61,169
- Receivables within one year +€42,675
up €42,675 (+63.1%), from €67,649 to €110,324
of which Trade receivables: +€42,790
- Cash +€40,582
up €40,582 (+10.4%), from €391,641 to €432,223
mainly Net result for the year (+€139,491) and Other debts (+€85,789)
- Other debts +€85,789
up €85,789 (+52.6%), from €163,161 to €248,950
- Debts after one year -€43,257
down €43,257 (-39.8%), from €108,604 to €65,348
- Tax, wage and social debts -€20,050
down €20,050 (-14.3%), from €139,772 to €119,723
of which Taxes: -€22,417
- Depreciation +€8,051
up €8,051 (+15.0%), from €53,722 to €61,773
- Staff costs +€7,739
up €7,739 (+2.8%), from €280,654 to €288,393
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.
Derived cash bridge
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 | €654,884 | €675,162 | +€20,277 | +3.1% |
| Fixed assets | 21/28 | €182,274 | €120,501 | -€61,773 | -33.9% |
| Tangible fixed assets | 22/27 | €182,274 | €120,501 | -€61,773 | -33.9% |
| Plant, machinery and equipment | 23 | €2,735 | €2,131 | -€604 | -22.1% |
| Furniture and vehicles | 24 | €179,540 | €118,370 | -€61,169 | -34.1% |
| Current assets | 29/58 | €472,610 | €554,660 | +€82,050 | +17.4% |
| Amounts receivable within one year | 40/41 | €67,649 | €110,324 | +€42,675 | +63.1% |
| Trade receivables | 40 | €67,534 | €110,324 | +€42,790 | +63.4% |
| Other amounts receivable | 41 | €115 | - | -€115 | |
| Cash at bank and in hand | 54/58 | €391,641 | €432,223 | +€40,582 | +10.4% |
| Deferred charges and accrued income | 490/1 | €13,320 | €12,113 | -€1,207 | -9.1% |
| Total equity and liabilities | 10/49 | €654,884 | €675,162 | +€20,277 | +3.1% |
| Equity | 10/15 | €171,125 | €171,125 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €152,525 | €152,525 | = | 0.0% |
| Distributable reserves | 133 | €152,525 | €152,525 | = | 0.0% |
| Amounts payable | 17/49 | €483,759 | €504,036 | +€20,277 | +4.2% |
| Amounts payable after more than one year | 17 | €108,604 | €65,348 | -€43,257 | -39.8% |
| Financial debts | 170/4 | €108,604 | €65,348 | -€43,257 | -39.8% |
| Amounts payable within one year | 42/48 | €375,155 | €438,689 | +€63,534 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €41,702 | €43,257 | +€1,555 | +3.7% |
| Trade debts | 44 | €30,519 | €26,759 | -€3,760 | -12.3% |
| Suppliers | 440/4 | €30,519 | €26,759 | -€3,760 | -12.3% |
| Taxes, remuneration and social security | 45 | €139,772 | €119,723 | -€20,050 | -14.3% |
| Taxes | 450/3 | €110,203 | €87,786 | -€22,417 | -20.3% |
| Remuneration and social security | 454/9 | €29,569 | €31,937 | +€2,368 | +8.0% |
| Other amounts payable | 47/48 | €163,161 | €248,950 | +€85,789 | +52.6% |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Remuneration, social security and pensions | 62 | €280,654 | €288,393 | +€7,739 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,722 | €61,773 | +€8,051 | +15.0% |
| Other operating charges | 640/8 | €5,292 | €4,517 | -€774 | -14.6% |
| Gross operating margin | 9900 | €550,518 | €550,994 | +€476 | +0.1% |
| Operating profit (loss) | 9901 | €210,850 | €196,310 | -€14,540 | -6.9% |
| Financial income | 75/76B | €686 | €969 | +€283 | +41.3% |
| Recurring financial income | 75 | €686 | €969 | +€283 | +41.3% |
| Financial charges | 65/66B | €8,398 | €7,317 | -€1,081 | -12.9% |
| Recurring financial charges | 65 | €8,398 | €7,317 | -€1,081 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €203,138 | €189,961 | -€13,176 | -6.5% |
| Income taxes | 67/77 | €52,473 | €50,470 | -€2,002 | -3.8% |
| Profit (loss) for the period | 9904 | €150,665 | €139,491 | -€11,174 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €150,665 | €139,491 | -€11,174 | -7.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.