CLAES & GERARD: 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 & GERARD
Largest movements
- Tangible fixed assets -€22,967
down €22,967 (-3.9%), from €585,214 to €562,247
- Debts after one year -€33,640
down €33,640 (-11.7%), from €287,740 to €254,100
- Profit (loss) carried forward +€16,856
up €16,856, from -€15,007 to €1,849
- Other debts -€13,278
down €13,278 (-5.1%), from €261,568 to €248,290
- Gross operating margin +€30,800
up €30,800 (+105%), from €29,224 to €60,024
- Financial charges -€1,377
down €1,377 (-12.4%), from €11,063 to €9,686
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €593,514 | €564,747 | -€28,767 | -4.8% |
| Fixed assets | 21/28 | €585,214 | €562,247 | -€22,967 | -3.9% |
| Tangible fixed assets | 22/27 | €585,214 | €562,247 | -€22,967 | -3.9% |
| Land and buildings | 22 | €585,214 | €562,247 | -€22,967 | -3.9% |
| Current assets | 29/58 | €8,300 | €2,500 | -€5,800 | -69.9% |
| Amounts receivable within one year | 40/41 | €8,300 | €2,500 | -€5,800 | -69.9% |
| Other amounts receivable | 41 | €8,300 | €2,500 | -€5,800 | -69.9% |
| Total equity and liabilities | 10/49 | €593,514 | €564,747 | -€28,767 | -4.8% |
| Equity | 10/15 | -€3,983 | €12,872 | +€16,856 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,823 | €4,823 | = | 0.0% |
| Distributable reserves | 133 | €4,823 | €4,823 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,007 | €1,849 | +€16,856 | |
| Amounts payable | 17/49 | €597,498 | €551,875 | -€45,623 | -7.6% |
| Amounts payable after more than one year | 17 | €287,740 | €254,100 | -€33,640 | -11.7% |
| Financial debts | 170/4 | €287,740 | €254,100 | -€33,640 | -11.7% |
| Amounts payable within one year | 42/48 | €297,069 | €282,814 | -€14,255 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €32,984 | €33,640 | +€656 | +2.0% |
| Financial debts | 43 | €2,517 | €884 | -€1,634 | -64.9% |
| Credit institutions | 430/8 | €2,517 | €884 | -€1,634 | -64.9% |
| Other amounts payable | 47/48 | €261,568 | €248,290 | -€13,278 | -5.1% |
| Accrued charges and deferred income | 492/3 | €12,689 | €14,961 | +€2,272 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,507 | €26,677 | +€171 | +0.6% |
| Other operating charges | 640/8 | €6,884 | €6,805 | -€79 | -1.1% |
| Gross operating margin | 9900 | €29,224 | €60,024 | +€30,800 | +105% |
| Operating profit (loss) | 9901 | -€4,167 | €26,542 | +€30,709 | |
| Financial charges | 65/66B | €11,063 | €9,686 | -€1,377 | -12.4% |
| Recurring financial charges | 65 | €11,063 | €9,686 | -€1,377 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | -€15,230 | €16,856 | +€32,086 | |
| Profit (loss) for the period | 9904 | -€15,230 | €16,856 | +€32,086 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,230 | €16,856 | +€32,086 |
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 28 October 2026 via checked.be.