CL BELGIUM: what changed
CL BELGIUM
Largest movements
- Receivables within one year +€434,829
up €434,829 (+603%), from €72,164 to €506,992
of which Trade receivables: +€345,790
- Stocks and contracts +€276,094
up €276,094 (+30.6%), from €903,699 to €1.2m
- Tangible fixed assets -€179,289
down €179,289 (-12.8%), from €1.4m to €1.2m
of which Plant, machinery and equipment: -€150,064
- Cash -€45,655
down €45,655 (-8.7%), from €521,786 to €476,131
mainly Receivables within one year (-€434,829) and Stocks and contracts (-€276,094)
- Trade debts +€374,263
up €374,263 (+224%), from €167,039 to €541,302
- Other debts +€308,786
up €308,786 (+78.7%), from €392,487 to €701,272
- Profit (loss) carried forward -€169,190
down €169,190 (-658%), from -€25,712 to -€194,901
- Staff costs +€350,106
up €350,106 (+120%), from €290,909 to €641,015
- Gross operating margin +€348,580
up €348,580 (+90.4%), from €385,590 to €734,170
- Depreciation +€90,916
up €90,916 (+102%), from €89,002 to €179,918
- Financial charges +€38,812
up €38,812 (+143%), from €27,134 to €65,946
- Other operating charges +€13,641
up €13,641 (+88.7%), from €15,372 to €29,013
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,090,087 | €3,590,225 | +€500,138 | +16.2% |
| Fixed assets | 21/28 | €1,489,013 | €1,308,282 | -€180,732 | -12.1% |
| Intangible fixed assets | 21 | €6,513 | €5,071 | -€1,442 | -22.1% |
| Tangible fixed assets | 22/27 | €1,400,356 | €1,221,067 | -€179,289 | -12.8% |
| Plant, machinery and equipment | 23 | €1,270,424 | €1,120,360 | -€150,064 | -11.8% |
| Furniture and vehicles | 24 | €129,932 | €100,707 | -€29,226 | -22.5% |
| Financial fixed assets | 28 | €82,144 | €82,144 | = | 0.0% |
| Current assets | 29/58 | €1,601,074 | €2,281,943 | +€680,869 | +42.5% |
| Stocks and contracts in progress | 3 | €903,699 | €1,179,792 | +€276,094 | +30.6% |
| Stocks | 30/36 | €903,699 | €1,179,792 | +€276,094 | +30.6% |
| Amounts receivable within one year | 40/41 | €72,164 | €506,992 | +€434,829 | +603% |
| Trade receivables | 40 | €72,164 | €417,954 | +€345,790 | +479% |
| Other amounts receivable | 41 | - | €89,038 | +€89,038 | |
| Cash at bank and in hand | 54/58 | €521,786 | €476,131 | -€45,655 | -8.7% |
| Deferred charges and accrued income | 490/1 | €103,426 | €119,027 | +€15,602 | +15.1% |
| Total equity and liabilities | 10/49 | €3,090,087 | €3,590,225 | +€500,138 | +16.2% |
| Equity | 10/15 | -€15,712 | -€184,901 | -€169,190 | -1,077% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | - | -€10,000 | |
| Other | 1109/19 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | -€25,712 | -€194,901 | -€169,190 | -658% |
| Amounts payable | 17/49 | €3,105,799 | €3,775,126 | +€669,327 | +21.6% |
| Amounts payable within one year | 42/48 | €3,105,799 | €3,775,126 | +€669,327 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €2,340,000 | €2,340,000 | = | 0.0% |
| Trade debts | 44 | €167,039 | €541,302 | +€374,263 | +224% |
| Suppliers | 440/4 | €167,039 | €541,302 | +€374,263 | +224% |
| Taxes, remuneration and social security | 45 | €206,273 | €192,552 | -€13,721 | -6.7% |
| Taxes | 450/3 | €141,232 | €151,664 | +€10,432 | +7.4% |
| Remuneration and social security | 454/9 | €65,041 | €40,888 | -€24,153 | -37.1% |
| Other amounts payable | 47/48 | €392,487 | €701,272 | +€308,786 | +78.7% |
| Non-recurring operating income | 76A | - | €495 | +€495 | |
| Remuneration, social security and pensions | 62 | €290,909 | €641,015 | +€350,106 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,002 | €179,918 | +€90,916 | +102% |
| Other operating charges | 640/8 | €15,372 | €29,013 | +€13,641 | +88.7% |
| Non-recurring operating charges | 66A | - | €1,162 | +€1,162 | |
| Gross operating margin | 9900 | €385,590 | €734,170 | +€348,580 | +90.4% |
| Operating profit (loss) | 9901 | -€9,693 | -€116,938 | -€107,245 | -1,106% |
| Financial income | 75/76B | €11,124 | €13,780 | +€2,656 | +23.9% |
| Recurring financial income | 75 | €11,124 | €13,780 | +€2,656 | +23.9% |
| Financial charges | 65/66B | €27,134 | €65,946 | +€38,812 | +143% |
| Recurring financial charges | 65 | €27,134 | €65,946 | +€38,812 | +143% |
| Profit (loss) for the period before taxes | 9903 | -€25,703 | -€169,104 | -€143,401 | -558% |
| Income taxes | 67/77 | €9 | €86 | +€77 | +890% |
| Profit (loss) for the period | 9904 | -€25,712 | -€169,190 | -€143,478 | -558% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,712 | -€169,190 | -€143,478 | -558% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.