CLADWERK: 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.
CLADWERK
Largest movements
- Cash +€26,244
up €26,244 (+97.0%), from €27,058 to €53,302
mainly Net result for the year (+€20,072) and Receivables within one year (+€7,150)
- Receivables within one year -€7,150
down €7,150 (-54.7%), from €13,079 to €5,929
- Tangible fixed assets -€4,214
down €4,214 (-15.9%), from €26,434 to €22,219
of which Furniture and vehicles: -€4,015
- Reserves +€20,072
up €20,072 (+101%), from €19,789 to €39,861
- Debts after one year -€7,523
down €7,523 (-62.3%), from €12,085 to €4,562
- Tax, wage and social debts +€3,548
up €3,548 (+19.0%), from €18,654 to €22,202
of which Taxes: +€6,948
- Other debts -€1,945
down €1,945 (-34.1%), from €5,705 to €3,761
- Trade debts +€1,140
up €1,140 (+97.0%), from €1,174 to €2,314
- Gross operating margin +€3,951
up €3,951 (+11.9%), from €33,082 to €37,033
- Depreciation +€3,389
up €3,389 (+116%), from €2,931 to €6,320
- Other operating charges -€720
down €720 (-53.2%), from €1,354 to €634
- Taxes +€625
up €625 (+7.4%), from €8,404 to €9,029
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 | €66,571 | €82,223 | +€15,651 | +23.5% |
| Fixed assets | 21/28 | €26,434 | €22,219 | -€4,214 | -15.9% |
| Tangible fixed assets | 22/27 | €26,434 | €22,219 | -€4,214 | -15.9% |
| Plant, machinery and equipment | 23 | €544 | €345 | -€199 | -36.6% |
| Furniture and vehicles | 24 | €25,890 | €21,875 | -€4,015 | -15.5% |
| Current assets | 29/58 | €40,138 | €60,003 | +€19,866 | +49.5% |
| Amounts receivable within one year | 40/41 | €13,079 | €5,929 | -€7,150 | -54.7% |
| Trade receivables | 40 | €13,079 | €5,929 | -€7,150 | -54.7% |
| Cash at bank and in hand | 54/58 | €27,058 | €53,302 | +€26,244 | +97.0% |
| Deferred charges and accrued income | 490/1 | - | €772 | +€772 | |
| Total equity and liabilities | 10/49 | €66,571 | €82,223 | +€15,651 | +23.5% |
| Equity | 10/15 | €21,789 | €41,861 | +€20,072 | +92.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €19,789 | €39,861 | +€20,072 | +101% |
| Distributable reserves | 133 | €19,789 | €39,861 | +€20,072 | +101% |
| Amounts payable | 17/49 | €44,782 | €40,361 | -€4,421 | -9.9% |
| Amounts payable after more than one year | 17 | €12,085 | €4,562 | -€7,523 | -62.3% |
| Financial debts | 170/4 | €12,085 | €4,562 | -€7,523 | -62.3% |
| Amounts payable within one year | 42/48 | €32,698 | €35,800 | +€3,102 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €7,163 | €7,523 | +€360 | +5.0% |
| Trade debts | 44 | €1,174 | €2,314 | +€1,140 | +97.0% |
| Suppliers | 440/4 | €1,174 | €2,314 | +€1,140 | +97.0% |
| Taxes, remuneration and social security | 45 | €18,654 | €22,202 | +€3,548 | +19.0% |
| Taxes | 450/3 | €13,554 | €20,502 | +€6,948 | +51.3% |
| Remuneration and social security | 454/9 | €5,100 | €1,700 | -€3,400 | -66.7% |
| Other amounts payable | 47/48 | €5,705 | €3,761 | -€1,945 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,931 | €6,320 | +€3,389 | +116% |
| Other operating charges | 640/8 | €1,354 | €634 | -€720 | -53.2% |
| Gross operating margin | 9900 | €33,082 | €37,033 | +€3,951 | +11.9% |
| Operating profit (loss) | 9901 | €28,798 | €30,080 | +€1,282 | +4.5% |
| Financial income | 75/76B | €73 | €0 | -€73 | -100.0% |
| Recurring financial income | 75 | €73 | €0 | -€73 | -100.0% |
| Financial charges | 65/66B | €677 | €979 | +€302 | +44.6% |
| Recurring financial charges | 65 | €677 | €979 | +€302 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €28,193 | €29,101 | +€908 | +3.2% |
| Income taxes | 67/77 | €8,404 | €9,029 | +€625 | +7.4% |
| Profit (loss) for the period | 9904 | €19,789 | €20,072 | +€283 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,789 | €20,072 | +€283 | +1.4% |
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 26 October 2026 via checked.be.