CLAEZO: 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.
CLAEZO
Largest movements
- Tangible fixed assets -€22,811
down €22,811 (-5.4%), from €423,119 to €400,308
of which Land and buildings: -€15,017
- Cash +€8,268
up €8,268 (+23.7%), from €34,936 to €43,204
mainly Depreciation (+€22,811) and Other debts (+€9,206)
- Receivables within one year +€5,299
up €5,299 (+20.4%), from €26,030 to €31,329
of which Trade receivables: +€5,431
- Debts after one year -€16,213
down €16,213 (-4.2%), from €390,447 to €374,234
- Other debts +€9,206
up €9,206 (+122%), from €7,518 to €16,723
- Gross operating margin -€15,233
down €15,233 (-25.3%), from €60,317 to €45,083
- Taxes -€4,739
down €4,739 (-85.4%), from €5,551 to €812
- Depreciation +€4,053
up €4,053 (+21.6%), from €18,758 to €22,811
- Financial charges -€2,769
down €2,769 (-13.6%), from €20,386 to €17,617
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
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 | €522,638 | €512,562 | -€10,076 | -1.9% |
| Fixed assets | 21/28 | €423,119 | €400,308 | -€22,811 | -5.4% |
| Tangible fixed assets | 22/27 | €423,119 | €400,308 | -€22,811 | -5.4% |
| Land and buildings | 22 | €393,065 | €378,049 | -€15,017 | -3.8% |
| Plant, machinery and equipment | 23 | €8,352 | €4,978 | -€3,374 | -40.4% |
| Furniture and vehicles | 24 | €21,701 | €17,281 | -€4,420 | -20.4% |
| Current assets | 29/58 | €99,519 | €112,253 | +€12,734 | +12.8% |
| Stocks and contracts in progress | 3 | €36,491 | €32,469 | -€4,023 | -11.0% |
| Stocks | 30/36 | €36,491 | €32,469 | -€4,023 | -11.0% |
| Amounts receivable within one year | 40/41 | €26,030 | €31,329 | +€5,299 | +20.4% |
| Trade receivables | 40 | €21,030 | €26,461 | +€5,431 | +25.8% |
| Other amounts receivable | 41 | €5,000 | €4,868 | -€132 | -2.6% |
| Cash at bank and in hand | 54/58 | €34,936 | €43,204 | +€8,268 | +23.7% |
| Deferred charges and accrued income | 490/1 | €2,062 | €5,251 | +€3,190 | +155% |
| Total equity and liabilities | 10/49 | €522,638 | €512,562 | -€10,076 | -1.9% |
| Equity | 10/15 | €97,610 | €98,623 | +€1,013 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €79,010 | €80,023 | +€1,013 | +1.3% |
| Distributable reserves | 133 | €79,010 | €80,023 | +€1,013 | +1.3% |
| Amounts payable | 17/49 | €425,028 | €413,939 | -€11,089 | -2.6% |
| Amounts payable after more than one year | 17 | €390,447 | €374,234 | -€16,213 | -4.2% |
| Financial debts | 170/4 | €390,447 | €374,234 | -€16,213 | -4.2% |
| Amounts payable within one year | 42/48 | €34,539 | €39,530 | +€4,991 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €15,626 | €16,213 | +€587 | +3.8% |
| Trade debts | 44 | €925 | €486 | -€439 | -47.5% |
| Suppliers | 440/4 | €925 | €486 | -€439 | -47.5% |
| Advances received on contracts in progress | 46 | €254 | €986 | +€732 | +288% |
| Taxes, remuneration and social security | 45 | €10,215 | €5,121 | -€5,094 | -49.9% |
| Taxes | 450/3 | €10,215 | €5,121 | -€5,094 | -49.9% |
| Other amounts payable | 47/48 | €7,518 | €16,723 | +€9,206 | +122% |
| Accrued charges and deferred income | 492/3 | €42 | €175 | +€133 | +318% |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,758 | €22,811 | +€4,053 | +21.6% |
| Other operating charges | 640/8 | €2,610 | €2,682 | +€72 | +2.8% |
| Non-recurring operating charges | 66A | - | €261 | +€261 | |
| Gross operating margin | 9900 | €60,317 | €45,083 | -€15,233 | -25.3% |
| Operating profit (loss) | 9901 | €38,949 | €19,330 | -€19,619 | -50.4% |
| Financial income | 75/76B | €39 | €112 | +€74 | +190% |
| Recurring financial income | 75 | €39 | €112 | +€74 | +190% |
| Financial charges | 65/66B | €20,386 | €17,617 | -€2,769 | -13.6% |
| Recurring financial charges | 65 | €20,386 | €17,617 | -€2,769 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €18,602 | €1,825 | -€16,777 | -90.2% |
| Income taxes | 67/77 | €5,551 | €812 | -€4,739 | -85.4% |
| Profit (loss) for the period | 9904 | €13,050 | €1,013 | -€12,038 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,050 | €1,013 | -€12,038 | -92.2% |
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 16 October 2026 via checked.be.