CLAES EIEREN: what changed
Two fiscal 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 EIEREN
Largest movements
- Receivables within one year +€8.9m
up €8.9m (+195.2%), from €4.5m to €13.4m
of which Trade receivables: +€10.5m
- Stocks and contracts +€1.3m
up €1.3m (+832.0%), from €150,660 to €1.4m
- Cash +€724,822
up €724,822 (+1097.2%), from €66,062 to €790,884
mainly Short-term financial debts (+€4.5m) and Trade debts (+€3.3m)
- Short-term financial debts +€4.5m
new in 2025: €4.5m
- Trade debts +€3.3m
up €3.3m (+226.0%), from €1.4m to €4.7m
- Reserves +€1.5m
up €1.5m (+58.5%), from €2.6m to €4.1m
of which Distributable reserves: +€771,690
- Other debts +€1.5m
up €1.5m (+249.5%), from €597,619 to €2.1m
- Staff costs +€286,583
new in 2025: €286,583
- Taxes -€81,863
down €81,863 (-14.3%), from €573,927 to €492,063
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 | €4,765,036 | €15,609,832 | +€10.8m | +227.6% |
| Fixed assets | 21/28 | €5,642 | €2,852 | -€2,789 | -49.4% |
| Tangible fixed assets | 22/27 | €5,642 | €2,852 | -€2,789 | -49.4% |
| Plant, machinery and equipment | 23 | €5,642 | €2,852 | -€2,789 | -49.4% |
| Current assets | 29/58 | €4,759,394 | €15,606,980 | +€10.8m | +227.9% |
| Stocks and contracts in progress | 3 | €150,660 | €1,404,223 | +€1.3m | +832.0% |
| Stocks | 30/36 | €150,660 | €1,404,223 | +€1.3m | +832.0% |
| Amounts receivable within one year | 40/41 | €4,542,673 | €13,409,597 | +€8.9m | +195.2% |
| Trade receivables | 40 | €2,231,366 | €12,778,954 | +€10.5m | +472.7% |
| Other amounts receivable | 41 | €2,311,307 | €630,642 | -€1.7m | -72.7% |
| Cash at bank and in hand | 54/58 | €66,062 | €790,884 | +€724,822 | +1097.2% |
| Deferred charges and accrued income | 490/1 | - | €2,276 | +€2,276 | |
| Total equity and liabilities | 10/49 | €4,765,036 | €15,609,832 | +€10.8m | +227.6% |
| Equity | 10/15 | €2,705,662 | €4,214,102 | +€1.5m | +55.8% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €2,580,662 | €4,089,102 | +€1.5m | +58.5% |
| Tax-exempt reserves | 132 | - | €736,750 | +€736,750 | |
| Distributable reserves | 133 | €2,580,662 | €3,352,352 | +€771,690 | +29.9% |
| Amounts payable | 17/49 | €2,059,374 | €11,395,730 | +€9.3m | +453.4% |
| Amounts payable within one year | 42/48 | €2,059,374 | €11,395,730 | +€9.3m | +453.4% |
| Financial debts | 43 | - | €4,500,000 | +€4.5m | |
| Credit institutions | 430/8 | - | €4,500,000 | +€4.5m | |
| Trade debts | 44 | €1,448,252 | €4,720,861 | +€3.3m | +226.0% |
| Suppliers | 440/4 | €1,448,252 | €4,720,861 | +€3.3m | +226.0% |
| Taxes, remuneration and social security | 45 | €13,503 | €86,439 | +€72,935 | +540.1% |
| Taxes | 450/3 | €13,503 | €17,180 | +€3,677 | +27.2% |
| Remuneration and social security | 454/9 | - | €69,258 | +€69,258 | |
| Other amounts payable | 47/48 | €597,619 | €2,088,431 | +€1.5m | +249.5% |
| Remuneration, social security and pensions | 62 | - | €286,583 | +€286,583 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,789 | €2,789 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,227 | €1,118 | -€1,108 | -49.8% |
| Gross operating margin | 9900 | €2,357,070 | €2,370,490 | +€13,420 | +0.6% |
| Operating profit (loss) | 9901 | €2,352,054 | €2,080,000 | -€272,054 | -11.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -52.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -52.4% |
| Financial charges | 65/66B | €77,094 | €79,496 | +€2,403 | +3.1% |
| Recurring financial charges | 65 | €77,094 | €79,496 | +€2,403 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €2,274,960 | €2,000,503 | -€274,457 | -12.1% |
| Income taxes | 67/77 | €573,927 | €492,063 | -€81,863 | -14.3% |
| Profit (loss) for the period | 9904 | €1,701,034 | €1,508,440 | -€192,594 | -11.3% |
| Transfer to tax-exempt reserves | 689 | - | €736,750 | +€736,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,701,034 | €771,690 | -€929,344 | -54.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.