Claes-Wagner: 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-Wagner
Largest movements
- Cash -€60,389
down €60,389 (-92.7%), from €65,110 to €4,721
mainly Investment in fixed assets (net) (-€71,109) and Receivables within one year (-€20,009)
- Tangible fixed assets +€58,534
up €58,534 (+20.1%), from €291,146 to €349,680
of which Furniture and vehicles: +€51,051
- Receivables within one year +€20,009
up €20,009 (+13.9%), from €144,217 to €164,226
of which Other amounts receivable: +€28,987
- Debts after one year +€21,141
new in 2026: €21,141
- Other debts +€13,045
new in 2026: €13,045
- Profit (loss) carried forward -€10,159
down €10,159 (-2.0%), from €497,798 to €487,639
- Current portion of long-term debt +€9,866
new in 2026: €9,866
- Tax, wage and social debts -€8,529
down €8,529 (-98.3%), from €8,673 to €144
- Gross operating margin -€22,976
down €22,976 (-65.4%), from €35,145 to €12,169
- Depreciation +€9,442
up €9,442 (+301%), from €3,133 to €12,575
- Taxes -€6,829
down €6,829 (-97.6%), from €6,997 to €168
- Other operating charges +€3,851
up €3,851 (+81.1%), from €4,750 to €8,601
- Financial income +€1,358
new in 2026: €1,358
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €591,786 | €609,950 | +€18,164 | +3.1% |
| Fixed assets | 21/28 | €316,146 | €374,680 | +€58,534 | +18.5% |
| Tangible fixed assets | 22/27 | €291,146 | €349,680 | +€58,534 | +20.1% |
| Land and buildings | 22 | €291,146 | €298,628 | +€7,482 | +2.6% |
| Furniture and vehicles | 24 | - | €51,051 | +€51,051 | |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €275,640 | €235,271 | -€40,369 | -14.6% |
| Amounts receivable within one year | 40/41 | €144,217 | €164,226 | +€20,009 | +13.9% |
| Trade receivables | 40 | €55,757 | €46,779 | -€8,978 | -16.1% |
| Other amounts receivable | 41 | €88,460 | €117,447 | +€28,987 | +32.8% |
| Cash at bank and in hand | 54/58 | €65,110 | €4,721 | -€60,389 | -92.7% |
| Deferred charges and accrued income | 490/1 | €66,313 | €66,324 | +€11 | 0.0% |
| Total equity and liabilities | 10/49 | €591,786 | €609,950 | +€18,164 | +3.1% |
| Equity | 10/15 | €564,366 | €554,207 | -€10,159 | -1.8% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €35,568 | €35,568 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,046 | €32,046 | = | 0.0% |
| Distributable reserves | 133 | €422 | €422 | = | 0.0% |
| Profit (loss) carried forward | 14 | €497,798 | €487,639 | -€10,159 | -2.0% |
| Amounts payable | 17/49 | €27,420 | €55,743 | +€28,323 | +103% |
| Amounts payable after more than one year | 17 | - | €21,141 | +€21,141 | |
| Financial debts | 170/4 | - | €21,141 | +€21,141 | |
| Amounts payable within one year | 42/48 | €27,420 | €34,602 | +€7,182 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,866 | +€9,866 | |
| Trade debts | 44 | €18,747 | €11,546 | -€7,201 | -38.4% |
| Suppliers | 440/4 | €18,747 | €11,546 | -€7,201 | -38.4% |
| Taxes, remuneration and social security | 45 | €8,673 | €144 | -€8,529 | -98.3% |
| Taxes | 450/3 | €8,673 | €144 | -€8,529 | -98.3% |
| Other amounts payable | 47/48 | - | €13,045 | +€13,045 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,133 | €12,575 | +€9,442 | +301% |
| Other operating charges | 640/8 | €4,750 | €8,601 | +€3,851 | +81.1% |
| Gross operating margin | 9900 | €35,145 | €12,169 | -€22,976 | -65.4% |
| Operating profit (loss) | 9901 | €27,262 | -€9,007 | -€36,269 | |
| Financial income | 75/76B | - | €1,358 | +€1,358 | |
| Recurring financial income | 75 | - | €1,358 | +€1,358 | |
| Financial charges | 65/66B | €1,456 | €2,342 | +€887 | +60.9% |
| Recurring financial charges | 65 | €1,456 | €2,342 | +€887 | +60.9% |
| Profit (loss) for the period before taxes | 9903 | €25,806 | -€9,992 | -€35,798 | |
| Transfer from deferred taxes | 780 | €208 | - | -€208 | |
| Income taxes | 67/77 | €6,997 | €168 | -€6,829 | -97.6% |
| Profit (loss) for the period | 9904 | €19,017 | -€10,159 | -€29,177 | |
| Transfer from tax-exempt reserves | 789 | €513 | - | -€513 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,531 | -€10,159 | -€29,690 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.