C.L.S.: 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.
C.L.S.
Largest movements
- Receivables within one year +€159,314
up €159,314 (+94.7%), from €168,220 to €327,534
of which Trade receivables: +€140,022
- Cash -€43,596
down €43,596 (-32.8%), from €133,075 to €89,480
mainly Receivables within one year (-€159,314) and Investment in fixed assets (net) (-€32,642)
- Tangible fixed assets +€17,451
up €17,451 (+43.8%), from €39,806 to €57,257
of which Furniture and vehicles: +€17,651
- Reserves +€131,681
up €131,681 (+72.9%), from €180,528 to €312,209
of which Distributable reserves: +€131,681
- Current portion of long-term debt -€29,675
down €29,675 (-76.0%), from €39,032 to €9,357
- Trade debts +€16,316
up €16,316 (+48.8%), from €33,436 to €49,752
- Tax, wage and social debts +€9,799
up €9,799 (+74.2%), from €13,208 to €23,008
of which Taxes: +€10,919
- Gross operating margin +€94,441
up €94,441 (+61.7%), from €152,959 to €247,400
- Taxes +€27,174
up €27,174 (+57.1%), from €47,625 to €74,799
- Depreciation +€10,695
up €10,695 (+236%), from €4,540 to €15,235
- Write-downs -€3,385
no longer reported in 2025 (was €3,385)
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 | €347,886 | €481,609 | +€133,724 | +38.4% |
| Fixed assets | 21/28 | €41,550 | €58,957 | +€17,407 | +41.9% |
| Intangible fixed assets | 21 | €44 | - | -€44 | |
| Tangible fixed assets | 22/27 | €39,806 | €57,257 | +€17,451 | +43.8% |
| Plant, machinery and equipment | 23 | €814 | €615 | -€200 | -24.5% |
| Furniture and vehicles | 24 | €38,991 | €56,642 | +€17,651 | +45.3% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €306,336 | €422,653 | +€116,317 | +38.0% |
| Stocks and contracts in progress | 3 | €980 | €901 | -€79 | -8.0% |
| Stocks | 30/36 | €980 | €901 | -€79 | -8.0% |
| Amounts receivable within one year | 40/41 | €168,220 | €327,534 | +€159,314 | +94.7% |
| Trade receivables | 40 | €126,487 | €266,509 | +€140,022 | +111% |
| Other amounts receivable | 41 | €41,733 | €61,025 | +€19,292 | +46.2% |
| Cash at bank and in hand | 54/58 | €133,075 | €89,480 | -€43,596 | -32.8% |
| Deferred charges and accrued income | 490/1 | €4,061 | €4,739 | +€678 | +16.7% |
| Total equity and liabilities | 10/49 | €347,886 | €481,609 | +€133,724 | +38.4% |
| Equity | 10/15 | €242,028 | €373,709 | +€131,681 | +54.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €180,528 | €312,209 | +€131,681 | +72.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €174,378 | €306,059 | +€131,681 | +75.5% |
| Amounts payable | 17/49 | €105,857 | €107,901 | +€2,043 | +1.9% |
| Amounts payable after more than one year | 17 | €18,331 | €18,385 | +€54 | +0.3% |
| Financial debts | 170/4 | €18,331 | €18,385 | +€54 | +0.3% |
| Amounts payable within one year | 42/48 | €85,676 | €87,430 | +€1,754 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €39,032 | €9,357 | -€29,675 | -76.0% |
| Trade debts | 44 | €33,436 | €49,752 | +€16,316 | +48.8% |
| Suppliers | 440/4 | €33,436 | €49,752 | +€16,316 | +48.8% |
| Advances received on contracts in progress | 46 | - | €3,647 | +€3,647 | |
| Taxes, remuneration and social security | 45 | €13,208 | €23,008 | +€9,799 | +74.2% |
| Taxes | 450/3 | €12,088 | €23,008 | +€10,919 | +90.3% |
| Remuneration and social security | 454/9 | €1,120 | - | -€1,120 | |
| Other amounts payable | 47/48 | - | €1,666 | +€1,666 | |
| Accrued charges and deferred income | 492/3 | €1,850 | €2,086 | +€236 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,540 | €15,235 | +€10,695 | +236% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,385 | - | -€3,385 | |
| Other operating charges | 640/8 | €912 | €1,064 | +€152 | +16.7% |
| Gross operating margin | 9900 | €152,959 | €247,400 | +€94,441 | +61.7% |
| Operating profit (loss) | 9901 | €144,122 | €231,102 | +€86,980 | +60.4% |
| Financial income | 75/76B | €1,209 | €2,352 | +€1,143 | +94.6% |
| Recurring financial income | 75 | €1,209 | €2,352 | +€1,143 | +94.6% |
| Financial charges | 65/66B | €570 | €2,003 | +€1,433 | +252% |
| Recurring financial charges | 65 | €570 | €2,003 | +€1,433 | +252% |
| Profit (loss) for the period before taxes | 9903 | €144,761 | €231,450 | +€86,689 | +59.9% |
| Income taxes | 67/77 | €47,625 | €74,799 | +€27,174 | +57.1% |
| Profit (loss) for the period | 9904 | €97,136 | €156,652 | +€59,516 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,136 | €156,652 | +€59,516 | +61.3% |
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 15 October 2026 via checked.be.