CLAERBOUT STUDIO: 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.
CLAERBOUT STUDIO
Largest movements
- Cash -€111,255
down €111,255 (-68.2%), from €163,087 to €51,832
mainly Receivables within one year (-€80,880) and Short-term financial debts (-€24,985)
- Receivables within one year +€80,880
up €80,880 (+494%), from €16,372 to €97,253
of which Trade receivables: +€88,765
- Tangible fixed assets -€16,922
down €16,922 (-14.9%), from €113,457 to €96,535
of which Furniture and vehicles: -€8,477
- Intangible fixed assets -€12,500
down €12,500 (-11.1%), from €112,500 to €100,000
- Short-term financial debts -€24,985
down €24,985 (-12.5%), from €199,664 to €174,679
- Debts after one year -€24,691
down €24,691 (-24.1%), from €102,556 to €77,865
- Profit (loss) carried forward -€11,156
new in 2025: -€11,156
- Trade debts -€4,498
down €4,498 (-54.0%), from €8,326 to €3,828
- Financial charges -€36,656
down €36,656 (-89.0%), from €41,192 to €4,536
of which Non-recurring financial charges: -€36,600
- Gross operating margin -€33,026
down €33,026 (-24.2%), from €136,605 to €103,579
- Staff costs +€20,735
up €20,735 (+63.4%), from €32,715 to €53,450
- Depreciation -€3,631
down €3,631 (-7.1%), from €50,959 to €47,328
- Other operating charges +€3,623
up €3,623 (+65.6%), from €5,520 to €9,143
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 | €409,480 | €348,810 | -€60,671 | -14.8% |
| Fixed assets | 21/28 | €225,957 | €196,535 | -€29,422 | -13.0% |
| Intangible fixed assets | 21 | €112,500 | €100,000 | -€12,500 | -11.1% |
| Tangible fixed assets | 22/27 | €113,457 | €96,535 | -€16,922 | -14.9% |
| Land and buildings | 22 | €13,008 | €11,563 | -€1,445 | -11.1% |
| Plant, machinery and equipment | 23 | €17,690 | €13,515 | -€4,176 | -23.6% |
| Furniture and vehicles | 24 | €46,902 | €38,425 | -€8,477 | -18.1% |
| Other tangible fixed assets | 26 | €35,857 | €33,033 | -€2,824 | -7.9% |
| Current assets | 29/58 | €183,523 | €152,274 | -€31,249 | -17.0% |
| Amounts receivable within one year | 40/41 | €16,372 | €97,253 | +€80,880 | +494% |
| Trade receivables | 40 | €4,100 | €92,865 | +€88,765 | +2,165% |
| Other amounts receivable | 41 | €12,272 | €4,387 | -€7,885 | -64.2% |
| Cash at bank and in hand | 54/58 | €163,087 | €51,832 | -€111,255 | -68.2% |
| Deferred charges and accrued income | 490/1 | €4,063 | €3,189 | -€874 | -21.5% |
| Total equity and liabilities | 10/49 | €409,480 | €348,810 | -€60,671 | -14.8% |
| Equity | 10/15 | €62,824 | €51,668 | -€11,156 | -17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,224 | €44,224 | = | 0.0% |
| Distributable reserves | 133 | €44,224 | €44,224 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,156 | -€11,156 | |
| Amounts payable | 17/49 | €346,656 | €297,142 | -€49,514 | -14.3% |
| Amounts payable after more than one year | 17 | €102,556 | €77,865 | -€24,691 | -24.1% |
| Financial debts | 170/4 | €102,556 | €77,865 | -€24,691 | -24.1% |
| Amounts payable within one year | 42/48 | €244,100 | €219,277 | -€24,823 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €24,082 | €24,691 | +€609 | +2.5% |
| Financial debts | 43 | €199,664 | €174,679 | -€24,985 | -12.5% |
| Other loans | 439 | €199,664 | €174,679 | -€24,985 | -12.5% |
| Trade debts | 44 | €8,326 | €3,828 | -€4,498 | -54.0% |
| Suppliers | 440/4 | €8,326 | €3,828 | -€4,498 | -54.0% |
| Taxes, remuneration and social security | 45 | €12,028 | €16,079 | +€4,050 | +33.7% |
| Taxes | 450/3 | €6,687 | €3,098 | -€3,589 | -53.7% |
| Remuneration and social security | 454/9 | €5,341 | €12,981 | +€7,639 | +143% |
| Non-recurring operating income | 76A | €10,600 | - | -€10,600 | |
| Remuneration, social security and pensions | 62 | €32,715 | €53,450 | +€20,735 | +63.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,959 | €47,328 | -€3,631 | -7.1% |
| Other operating charges | 640/8 | €5,520 | €9,143 | +€3,623 | +65.6% |
| Gross operating margin | 9900 | €136,605 | €103,579 | -€33,026 | -24.2% |
| Operating profit (loss) | 9901 | €47,411 | -€6,342 | -€53,753 | |
| Financial income | 75/76B | €230 | €2 | -€228 | -98.9% |
| Recurring financial income | 75 | €230 | €2 | -€228 | -98.9% |
| Financial charges | 65/66B | €41,192 | €4,536 | -€36,656 | -89.0% |
| Recurring financial charges | 65 | €4,592 | €4,536 | -€56 | -1.2% |
| Non-recurring financial charges | 66B | €36,600 | - | -€36,600 | |
| Profit (loss) for the period before taxes | 9903 | €6,449 | -€10,876 | -€17,325 | |
| Income taxes | 67/77 | €2,343 | €281 | -€2,063 | -88.0% |
| Profit (loss) for the period | 9904 | €4,106 | -€11,156 | -€15,262 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,106 | -€11,156 | -€15,262 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.