CLAES: what changed
What changed
CLAES
NACE 43.343, Specialised construction activities
filed annual accounts (NBB)
Net result for the year
€35,876
2024 · €41,287-€5,410
Equity
€952,621
2024 · €930,205+€22,416
Cash
€109,324
2024 · €78,287+€31,037
Balance sheet total
€1.2m
2024 · €1.3m-€14,137
Largest movements
Assets
- Tangible fixed assets -€108,204
down €108,204 (-15.3%), from €709,291 to €601,086
of which Land and buildings: -€60,273
- Current investments +€40,097
up €40,097 (+11.1%), from €361,638 to €401,735
- Cash +€31,037
up €31,037 (+39.6%), from €78,287 to €109,324
mainly Depreciation (+€129,627) and Net result for the year (+€35,876)
- Receivables within one year +€29,621
up €29,621 (+61.9%), from €47,836 to €77,456
of which Trade receivables: +€21,587
Equity and liabilities
- Debts after one year -€43,701
down €43,701 (-16.7%), from €261,503 to €217,802
- Reserves +€22,416
up €22,416 (+2.5%), from €900,205 to €922,621
Income statement
- Gross operating margin +€23,731
up €23,731 (+10.2%), from €232,727 to €256,459
- Staff costs +€17,612
up €17,612 (+43.9%), from €40,120 to €57,731
- Taxes -€3,645
down €3,645 (-21.4%), from €17,066 to €13,421
- Depreciation +€3,398
up €3,398 (+2.7%), from €126,229 to €129,627
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.
Result 2024
€41,287
Gross operating margin
+€23,731
Staff costs
-€17,612
Depreciation
-€3,398
Other operating charges
-€1,058
Other operating items
-€14,903
Financial income
+€2,429
Financial charges
+€1,754
Taxes
+€3,645
Result 2025
€35,876
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€148,997
Investment
-€61,520
Financing
-€56,440
Cash 2024
€78,287
From operations (derived)
+€148,997
Net result for the year
+€35,876
Depreciation
+€129,627
Stocks and contracts
+€8,150
Receivables within one year
-€29,621
Deferred charges and accrued income
-€1,463
Trade debts
-€4,647
Tax, wage and social debts
+€11,704
Advances received
+€337
Other debts
-€226
Accrued charges and deferred income
-€741
Investment (derived)
-€61,520
Investment in fixed assets (net)
-€21,422
Current investments
-€40,097
Financing
-€56,440
Debts after one year
-€43,701
Current portion of long-term debt
+€721
Contributions, distributions and other
-€13,460
Cash 2025
€109,324
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,257,360 | €1,243,223 | -€14,137 | -1.1% |
| Fixed assets | 21/28 | €709,561 | €601,356 | -€108,204 | -15.2% |
| Tangible fixed assets | 22/27 | €709,291 | €601,086 | -€108,204 | -15.3% |
| Land and buildings | 22 | €486,639 | €426,366 | -€60,273 | -12.4% |
| Plant, machinery and equipment | 23 | €123,973 | €106,473 | -€17,500 | -14.1% |
| Furniture and vehicles | 24 | €98,678 | €68,246 | -€30,432 | -30.8% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €547,800 | €641,867 | +€94,067 | +17.2% |
| Stocks and contracts in progress | 3 | €56,842 | €48,692 | -€8,150 | -14.3% |
| Stocks | 30/36 | €56,842 | €48,692 | -€8,150 | -14.3% |
| Amounts receivable within one year | 40/41 | €47,836 | €77,456 | +€29,621 | +61.9% |
| Trade receivables | 40 | €38,474 | €60,061 | +€21,587 | +56.1% |
| Other amounts receivable | 41 | €9,362 | €17,395 | +€8,033 | +85.8% |
| Current investments | 50/53 | €361,638 | €401,735 | +€40,097 | +11.1% |
| Cash at bank and in hand | 54/58 | €78,287 | €109,324 | +€31,037 | +39.6% |
| Deferred charges and accrued income | 490/1 | €3,197 | €4,660 | +€1,463 | +45.7% |
| Total equity and liabilities | 10/49 | €1,257,360 | €1,243,223 | -€14,137 | -1.1% |
| Equity | 10/15 | €930,205 | €952,621 | +€22,416 | +2.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €900,205 | €922,621 | +€22,416 | +2.5% |
| Distributable reserves | 133 | €900,205 | €922,621 | +€22,416 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €327,156 | €290,603 | -€36,553 | -11.2% |
| Amounts payable after more than one year | 17 | €261,503 | €217,802 | -€43,701 | -16.7% |
| Financial debts | 170/4 | €261,503 | €217,802 | -€43,701 | -16.7% |
| Amounts payable within one year | 42/48 | €64,912 | €72,800 | +€7,889 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €42,980 | €43,701 | +€721 | +1.7% |
| Trade debts | 44 | €21,039 | €16,392 | -€4,647 | -22.1% |
| Suppliers | 440/4 | €21,039 | €16,392 | -€4,647 | -22.1% |
| Advances received on contracts in progress | 46 | €0 | €337 | +€337 | |
| Taxes, remuneration and social security | 45 | €667 | €12,371 | +€11,704 | +1,754% |
| Taxes | 450/3 | €667 | €10,296 | +€9,629 | +1,443% |
| Remuneration and social security | 454/9 | - | €2,075 | +€2,075 | |
| Other amounts payable | 47/48 | €226 | €0 | -€226 | -100% |
| Accrued charges and deferred income | 492/3 | €741 | €0 | -€741 | -100% |
| Remuneration, social security and pensions | 62 | €40,120 | €57,731 | +€17,612 | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,229 | €129,627 | +€3,398 | +2.7% |
| Other operating charges | 640/8 | €13,681 | €14,738 | +€1,058 | +7.7% |
| Non-recurring operating charges | 66A | - | €14,903 | +€14,903 | |
| Gross operating margin | 9900 | €232,727 | €256,459 | +€23,731 | +10.2% |
| Operating profit (loss) | 9901 | €52,698 | €39,460 | -€13,239 | -25.1% |
| Financial income | 75/76B | €14,099 | €16,528 | +€2,429 | +17.2% |
| Recurring financial income | 75 | €14,099 | €16,528 | +€2,429 | +17.2% |
| Financial charges | 65/66B | €8,444 | €6,690 | -€1,754 | -20.8% |
| Recurring financial charges | 65 | €8,444 | €6,690 | -€1,754 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €58,353 | €49,297 | -€9,056 | -15.5% |
| Income taxes | 67/77 | €17,066 | €13,421 | -€3,645 | -21.4% |
| Profit (loss) for the period | 9904 | €41,287 | €35,876 | -€5,410 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,287 | €35,876 | -€5,410 | -13.1% |
Next steps
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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 4 November 2026 via checked.be.