C.L.V.: what changed
Two fiscal 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.V.
Largest movements
- Stocks and contracts -€47,301
down €47,301 (-14.2%), from €332,658 to €285,357
- Tangible fixed assets -€35,441
down €35,441 (-18.6%), from €190,709 to €155,268
of which Land and buildings: -€22,236
- Debts after one year -€46,176
down €46,176 (-100.0%), from €46,176 to €0
of which Other amounts payable: -€42,486
- Reserves -€29,843
down €29,843 (-5.7%), from €523,335 to €493,493
of which Distributable reserves: -€29,843
- Current portion of long-term debt -€8,639
down €8,639 (-70.1%), from €12,329 to €3,690
- Financial charges +€43,847
up €43,847, from -€43,182 to €665
- Taxes -€4,465
down €4,465 (-100.0%), from €4,465 to €0
- Gross operating margin +€4,025
up €4,025 (+36.3%), from €11,083 to €15,108
- Write-downs +€3,149
new in 2025: €3,149
- Other operating charges +€1,409
up €1,409 (+32.5%), from €4,339 to €5,747
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.
Cash bridge derived
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 | €649,994 | €562,356 | -€87,638 | -13.5% |
| Fixed assets | 21/28 | €190,758 | €155,268 | -€35,490 | -18.6% |
| Tangible fixed assets | 22/27 | €190,709 | €155,268 | -€35,441 | -18.6% |
| Land and buildings | 22 | €155,767 | €133,531 | -€22,236 | -14.3% |
| Plant, machinery and equipment | 23 | €399 | €69 | -€330 | -82.6% |
| Furniture and vehicles | 24 | €33,556 | €20,723 | -€12,833 | -38.2% |
| Other tangible fixed assets | 26 | €987 | €945 | -€42 | -4.3% |
| Financial fixed assets | 28 | €50 | €0 | -€50 | -100.0% |
| Current assets | 29/58 | €459,235 | €407,088 | -€52,147 | -11.4% |
| Amounts receivable after more than one year | 29 | €29,818 | €29,818 | = | 0.0% |
| Other amounts receivable | 291 | €29,818 | €29,818 | = | 0.0% |
| Stocks and contracts in progress | 3 | €332,658 | €285,357 | -€47,301 | -14.2% |
| Stocks | 30/36 | €332,658 | €285,357 | -€47,301 | -14.2% |
| Amounts receivable within one year | 40/41 | €29,237 | €30,747 | +€1,511 | +5.2% |
| Trade receivables | 40 | €29,237 | €29,447 | +€211 | +0.7% |
| Other amounts receivable | 41 | €0 | €1,300 | +€1,300 | |
| Cash at bank and in hand | 54/58 | €63,339 | €57,057 | -€6,282 | -9.9% |
| Deferred charges and accrued income | 490/1 | €4,184 | €4,108 | -€75 | -1.8% |
| Total equity and liabilities | 10/49 | €649,994 | €562,356 | -€87,638 | -13.5% |
| Equity | 10/15 | €584,835 | €554,993 | -€29,843 | -5.1% |
| 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 | €523,335 | €493,493 | -€29,843 | -5.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €517,185 | €487,343 | -€29,843 | -5.8% |
| Amounts payable | 17/49 | €65,158 | €7,363 | -€57,795 | -88.7% |
| Amounts payable after more than one year | 17 | €46,176 | €0 | -€46,176 | -100.0% |
| Financial debts | 170/4 | €3,690 | €0 | -€3,690 | -100.0% |
| Other amounts payable | 178/9 | €42,486 | €0 | -€42,486 | -100.0% |
| Amounts payable within one year | 42/48 | €18,983 | €7,341 | -€11,642 | -61.3% |
| Current portion of amounts payable after more than one year | 42 | €12,329 | €3,690 | -€8,639 | -70.1% |
| Financial debts | 43 | - | €844 | +€844 | |
| Credit institutions | 430/8 | - | €844 | +€844 | |
| Trade debts | 44 | €4,425 | €1,353 | -€3,072 | -69.4% |
| Suppliers | 440/4 | €4,425 | €1,353 | -€3,072 | -69.4% |
| Taxes, remuneration and social security | 45 | €2,229 | €1,454 | -€775 | -34.8% |
| Taxes | 450/3 | €2,229 | €1,454 | -€775 | -34.8% |
| Accrued charges and deferred income | 492/3 | €0 | €23 | +€23 | |
| Non-recurring operating income | 76A | €0 | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,031 | €35,441 | -€591 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,149 | +€3,149 | |
| Other operating charges | 640/8 | €4,339 | €5,747 | +€1,409 | +32.5% |
| Gross operating margin | 9900 | €11,083 | €15,108 | +€4,025 | +36.3% |
| Operating profit (loss) | 9901 | -€29,287 | -€29,229 | +€58 | +0.2% |
| Financial income | 75/76B | €56 | €52 | -€4 | -7.9% |
| Recurring financial income | 75 | €56 | €52 | -€4 | -7.9% |
| Financial charges | 65/66B | -€43,182 | €665 | +€43,847 | |
| Recurring financial charges | 65 | -€43,182 | €665 | +€43,847 | |
| Profit (loss) for the period before taxes | 9903 | €13,952 | -€29,843 | -€43,794 | |
| Income taxes | 67/77 | €4,465 | €0 | -€4,465 | -100.0% |
| Profit (loss) for the period | 9904 | €9,487 | -€29,843 | -€39,330 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,487 | -€29,843 | -€39,330 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.