CLAECO: 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.
CLAECO
Largest movements
- Receivables within one year +€960,651
up €960,651 (+117%), from €820,783 to €1.8m
of which Other amounts receivable: +€736,989
- Current investments +€600,000
up €600,000 (+150%), from €400,000 to €1.0m
- Tangible fixed assets -€570,478
down €570,478 (-56.8%), from €1.0m to €433,466
of which Land and buildings: -€557,865
- Cash +€106,797
up €106,797 (+35.6%), from €300,032 to €406,829
mainly Net result for the year (+€972,087) and Investment in fixed assets (net) (+€536,965)
- Reserves +€972,087
up €972,087 (+37.1%), from €2.6m to €3.6m
of which Distributable reserves: +€974,372
- Tax, wage and social debts +€124,578
up €124,578 (+85.7%), from €145,382 to €269,960
- Gross operating margin -€581,246
down €581,246 (-52.0%), from €1.1m to €535,926
- Financial income -€117,356
down €117,356 (-14.3%), from €823,514 to €706,159
- Depreciation -€107,716
down €107,716 (-76.3%), from €141,230 to €33,514
- Taxes -€100,806
down €100,806 (-30.0%), from €335,749 to €234,943
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 | €2,830,409 | €3,927,254 | +€1.1m | +38.8% |
| Fixed assets | 21/28 | €1,306,222 | €735,743 | -€570,478 | -43.7% |
| Tangible fixed assets | 22/27 | €1,003,944 | €433,466 | -€570,478 | -56.8% |
| Land and buildings | 22 | €949,567 | €391,703 | -€557,865 | -58.7% |
| Plant, machinery and equipment | 23 | €1,481 | €1,046 | -€434 | -29.3% |
| Furniture and vehicles | 24 | €52,896 | €40,717 | -€12,179 | -23.0% |
| Financial fixed assets | 28 | €302,277 | €302,277 | = | 0.0% |
| Current assets | 29/58 | €1,524,187 | €3,191,511 | +€1.7m | +109% |
| Amounts receivable within one year | 40/41 | €820,783 | €1,781,435 | +€960,651 | +117% |
| Trade receivables | 40 | €237,371 | €461,033 | +€223,662 | +94.2% |
| Other amounts receivable | 41 | €583,412 | €1,320,402 | +€736,989 | +126% |
| Current investments | 50/53 | €400,000 | €1,000,000 | +€600,000 | +150% |
| Cash at bank and in hand | 54/58 | €300,032 | €406,829 | +€106,797 | +35.6% |
| Deferred charges and accrued income | 490/1 | €3,372 | €3,247 | -€125 | -3.7% |
| Total equity and liabilities | 10/49 | €2,830,409 | €3,927,254 | +€1.1m | +38.8% |
| Equity | 10/15 | €2,639,778 | €3,611,864 | +€972,087 | +36.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,621,178 | €3,593,264 | +€972,087 | +37.1% |
| Tax-exempt reserves | 132 | €119,751 | €117,466 | -€2,285 | -1.9% |
| Distributable reserves | 133 | €2,501,427 | €3,475,798 | +€974,372 | +39.0% |
| Provisions and deferred taxes | 16 | €39,917 | €39,155 | -€762 | -1.9% |
| Deferred taxes | 168 | €39,917 | €39,155 | -€762 | -1.9% |
| Amounts payable | 17/49 | €150,714 | €276,234 | +€125,521 | +83.3% |
| Amounts payable within one year | 42/48 | €150,714 | €276,234 | +€125,521 | +83.3% |
| Trade debts | 44 | €5,332 | €6,274 | +€943 | +17.7% |
| Suppliers | 440/4 | €5,332 | €6,274 | +€943 | +17.7% |
| Taxes, remuneration and social security | 45 | €145,382 | €269,960 | +€124,578 | +85.7% |
| Taxes | 450/3 | €145,382 | €269,960 | +€124,578 | +85.7% |
| Non-recurring operating income | 76A | €161,404 | - | -€161,404 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,230 | €33,514 | -€107,716 | -76.3% |
| Other operating charges | 640/8 | €2,771 | €1,967 | -€804 | -29.0% |
| Gross operating margin | 9900 | €1,117,171 | €535,926 | -€581,246 | -52.0% |
| Operating profit (loss) | 9901 | €973,171 | €500,445 | -€472,726 | -48.6% |
| Financial income | 75/76B | €823,514 | €706,159 | -€117,356 | -14.3% |
| Recurring financial income | 75 | €823,514 | €706,159 | -€117,356 | -14.3% |
| Financial charges | 65/66B | €2,261 | €336 | -€1,925 | -85.2% |
| Recurring financial charges | 65 | €2,261 | €336 | -€1,925 | -85.2% |
| Profit (loss) for the period before taxes | 9903 | €1,794,424 | €1,206,268 | -€588,156 | -32.8% |
| Transfer from deferred taxes | 780 | €434 | €762 | +€328 | +75.5% |
| Transfer to deferred taxes | 680 | €40,351 | - | -€40,351 | |
| Income taxes | 67/77 | €335,749 | €234,943 | -€100,806 | -30.0% |
| Profit (loss) for the period | 9904 | €1,418,758 | €972,087 | -€446,672 | -31.5% |
| Transfer from tax-exempt reserves | 789 | €1,302 | €2,285 | +€983 | +75.5% |
| Transfer to tax-exempt reserves | 689 | €121,053 | - | -€121,053 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,299,007 | €974,372 | -€324,636 | -25.0% |
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 21 October 2026 via checked.be.