Claes Connect: 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.
Claes Connect
Largest movements
- Cash +€23,469
up €23,469 (+30.0%), from €78,176 to €101,645
mainly Net result for the year (+€76,507) and Other debts (+€25,000)
- Tangible fixed assets +€4,772
up €4,772 (+345.3%), from €1,382 to €6,154
- Receivables within one year +€1,339
up €1,339 (+6.6%), from €20,237 to €21,576
of which Trade receivables: +€1,338
- Other debts +€25,000
up €25,000 (+46.9%), from €53,269 to €78,269
- Tax, wage and social debts +€2,775
up €2,775 (+48.9%), from €5,673 to €8,448
- Reserves +€1,665
up €1,665 (+9.3%), from €17,857 to €19,523
of which Distributable reserves: +€1,665
- Taxes -€14,062
down €14,062 (-35.0%), from €40,186 to €26,124
- Gross operating margin +€9,947
up €9,947 (+10.4%), from €95,334 to €105,281
- Depreciation +€1,266
up €1,266 (+174.9%), from €724 to €1,989
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.
Cash bridge derived
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 | €99,795 | €129,374 | +€29,579 | +29.6% |
| Fixed assets | 21/28 | €1,382 | €6,154 | +€4,772 | +345.3% |
| Tangible fixed assets | 22/27 | €1,382 | €6,154 | +€4,772 | +345.3% |
| Furniture and vehicles | 24 | €1,382 | €6,154 | +€4,772 | +345.3% |
| Current assets | 29/58 | €98,413 | €123,221 | +€24,807 | +25.2% |
| Amounts receivable within one year | 40/41 | €20,237 | €21,576 | +€1,339 | +6.6% |
| Trade receivables | 40 | €10,947 | €12,284 | +€1,338 | +12.2% |
| Other amounts receivable | 41 | €9,290 | €9,292 | +€1 | 0.0% |
| Cash at bank and in hand | 54/58 | €78,176 | €101,645 | +€23,469 | +30.0% |
| Total equity and liabilities | 10/49 | €99,795 | €129,374 | +€29,579 | +29.6% |
| Equity | 10/15 | €40,853 | €42,361 | +€1,507 | +3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,857 | €19,523 | +€1,665 | +9.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,997 | €17,663 | +€1,665 | +10.4% |
| Profit (loss) carried forward | 14 | €4,396 | €4,238 | -€158 | -3.6% |
| Amounts payable | 17/49 | €58,942 | €87,014 | +€28,072 | +47.6% |
| Amounts payable within one year | 42/48 | €58,942 | €87,014 | +€28,072 | +47.6% |
| Trade debts | 44 | - | €297 | +€297 | |
| Suppliers | 440/4 | - | €297 | +€297 | |
| Taxes, remuneration and social security | 45 | €5,673 | €8,448 | +€2,775 | +48.9% |
| Taxes | 450/3 | €5,673 | €8,448 | +€2,775 | +48.9% |
| Other amounts payable | 47/48 | €53,269 | €78,269 | +€25,000 | +46.9% |
| Remuneration, social security and pensions | 62 | €229 | - | -€229 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €724 | €1,989 | +€1,266 | +174.9% |
| Other operating charges | 640/8 | €668 | €567 | -€101 | -15.2% |
| Gross operating margin | 9900 | €95,334 | €105,281 | +€9,947 | +10.4% |
| Operating profit (loss) | 9901 | €93,714 | €102,725 | +€9,012 | +9.6% |
| Financial income | 75/76B | €202 | €256 | +€53 | +26.4% |
| Recurring financial income | 75 | €202 | €256 | +€53 | +26.4% |
| Financial charges | 65/66B | €156 | €350 | +€193 | +123.6% |
| Recurring financial charges | 65 | €156 | €350 | +€193 | +123.6% |
| Profit (loss) for the period before taxes | 9903 | €93,759 | €102,631 | +€8,872 | +9.5% |
| Income taxes | 67/77 | €40,186 | €26,124 | -€14,062 | -35.0% |
| Profit (loss) for the period | 9904 | €53,573 | €76,507 | +€22,934 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,573 | €76,507 | +€22,934 | +42.8% |
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 11 October 2026 via checked.be.