BENJAMIN 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.
BENJAMIN DE CLERCQ
Largest movements
- Current investments +€100,708
up €100,708 (+33.6%), from €300,000 to €400,708
- Tangible fixed assets -€19,225
down €19,225 (-18.9%), from €101,783 to €82,558
of which Furniture and vehicles: -€9,902
- Other debts +€107,548
up €107,548 (+141%), from €76,090 to €183,638
- Reserves -€21,336
down €21,336 (-4.3%), from €500,159 to €478,822
- Tax, wage and social debts +€7,227
up €7,227 (+140%), from €5,172 to €12,399
of which Taxes: +€7,227
- Gross operating margin +€18,566
up €18,566 (+15.4%), from €120,646 to €139,212
- Taxes +€7,877
up €7,877 (+28.7%), from €27,491 to €35,368
- Depreciation +€2,027
up €2,027 (+11.8%), from €17,198 to €19,225
- Financial income +€1,790
up €1,790 (+22.5%), from €7,954 to €9,744
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 | €624,879 | €714,482 | +€89,603 | +14.3% |
| Fixed assets | 21/28 | €101,783 | €82,558 | -€19,225 | -18.9% |
| Tangible fixed assets | 22/27 | €101,783 | €82,558 | -€19,225 | -18.9% |
| Land and buildings | 22 | €65,253 | €56,923 | -€8,330 | -12.8% |
| Plant, machinery and equipment | 23 | €1,626 | €632 | -€994 | -61.1% |
| Furniture and vehicles | 24 | €34,904 | €25,002 | -€9,902 | -28.4% |
| Current assets | 29/58 | €523,096 | €631,924 | +€108,828 | +20.8% |
| Stocks and contracts in progress | 3 | €4,624 | €8,402 | +€3,778 | +81.7% |
| Stocks | 30/36 | €4,624 | €8,402 | +€3,778 | +81.7% |
| Amounts receivable within one year | 40/41 | €3,252 | €7,112 | +€3,860 | +119% |
| Trade receivables | 40 | €3,252 | €6,563 | +€3,310 | +102% |
| Other amounts receivable | 41 | - | €550 | +€550 | |
| Current investments | 50/53 | €300,000 | €400,708 | +€100,708 | +33.6% |
| Cash at bank and in hand | 54/58 | €211,189 | €211,371 | +€182 | +0.1% |
| Deferred charges and accrued income | 490/1 | €4,030 | €4,331 | +€301 | +7.5% |
| Total equity and liabilities | 10/49 | €624,879 | €714,482 | +€89,603 | +14.3% |
| Equity | 10/15 | €520,248 | €498,912 | -€21,336 | -4.1% |
| Contributions | 10/11 | €20,089 | €20,089 | = | 0.0% |
| Reserves | 13 | €500,159 | €478,822 | -€21,336 | -4.3% |
| Distributable reserves | 133 | €500,159 | €478,822 | -€21,336 | -4.3% |
| Amounts payable | 17/49 | €104,631 | €215,570 | +€110,939 | +106% |
| Amounts payable within one year | 42/48 | €104,631 | €215,570 | +€110,939 | +106% |
| Current portion of amounts payable after more than one year | 42 | €2,887 | - | -€2,887 | |
| Trade debts | 44 | €20,482 | €19,533 | -€949 | -4.6% |
| Suppliers | 440/4 | €20,482 | €19,533 | -€949 | -4.6% |
| Taxes, remuneration and social security | 45 | €5,172 | €12,399 | +€7,227 | +140% |
| Taxes | 450/3 | €922 | €8,149 | +€7,227 | +784% |
| Remuneration and social security | 454/9 | €4,250 | €4,250 | = | 0.0% |
| Other amounts payable | 47/48 | €76,090 | €183,638 | +€107,548 | +141% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,198 | €19,225 | +€2,027 | +11.8% |
| Other operating charges | 640/8 | €1,650 | €1,879 | +€229 | +13.9% |
| Gross operating margin | 9900 | €120,646 | €139,212 | +€18,566 | +15.4% |
| Operating profit (loss) | 9901 | €101,798 | €118,108 | +€16,311 | +16.0% |
| Financial income | 75/76B | €7,954 | €9,744 | +€1,790 | +22.5% |
| Recurring financial income | 75 | €7,954 | €9,744 | +€1,790 | +22.5% |
| Financial charges | 65/66B | €6,340 | €5,370 | -€970 | -15.3% |
| Recurring financial charges | 65 | €6,340 | €5,370 | -€970 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €103,412 | €122,482 | +€19,070 | +18.4% |
| Income taxes | 67/77 | €27,491 | €35,368 | +€7,877 | +28.7% |
| Profit (loss) for the period | 9904 | €75,921 | €87,114 | +€11,193 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,921 | €87,114 | +€11,193 | +14.7% |
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 17 October 2026 via checked.be.