CLAM: 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.
CLAM
Largest movements
- Tangible fixed assets -€50,822
down €50,822 (-3.2%), from €1.6m to €1.5m
of which Land and buildings: -€52,183
- Cash +€43,422
up €43,422 (+76.8%), from €56,504 to €99,926
mainly Net result for the year (+€88,550) and Depreciation (+€58,479)
- Receivables within one year -€22,914
down €22,914 (-23.9%), from €96,008 to €73,094
of which Other amounts receivable: -€22,589
- Debts after one year -€80,438
down €80,438 (-10.6%), from €760,808 to €680,370
- Reserves +€48,550
up €48,550 (+6.4%), from €753,773 to €802,324
of which Distributable reserves: +€66,009
- Gross operating margin +€7,898
up €7,898 (+3.9%), from €203,265 to €211,163
- Taxes +€3,375
up €3,375 (+17.8%), from €18,971 to €22,346
- Financial charges -€2,250
down €2,250 (-9.9%), from €22,657 to €20,407
- Depreciation -€2,182
down €2,182 (-3.6%), from €60,661 to €58,479
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 | €1,731,599 | €1,700,983 | -€30,616 | -1.8% |
| Fixed assets | 21/28 | €1,578,761 | €1,527,939 | -€50,822 | -3.2% |
| Tangible fixed assets | 22/27 | €1,578,761 | €1,527,939 | -€50,822 | -3.2% |
| Land and buildings | 22 | €1,571,590 | €1,519,407 | -€52,183 | -3.3% |
| Furniture and vehicles | 24 | €7,171 | €8,532 | +€1,361 | +19.0% |
| Current assets | 29/58 | €152,838 | €173,044 | +€20,206 | +13.2% |
| Amounts receivable within one year | 40/41 | €96,008 | €73,094 | -€22,914 | -23.9% |
| Trade receivables | 40 | €325 | - | -€325 | |
| Other amounts receivable | 41 | €95,683 | €73,094 | -€22,589 | -23.6% |
| Cash at bank and in hand | 54/58 | €56,504 | €99,926 | +€43,422 | +76.8% |
| Deferred charges and accrued income | 490/1 | €326 | €25 | -€302 | -92.5% |
| Total equity and liabilities | 10/49 | €1,731,599 | €1,700,983 | -€30,616 | -1.8% |
| Equity | 10/15 | €773,773 | €822,324 | +€48,550 | +6.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €753,773 | €802,324 | +€48,550 | +6.4% |
| Tax-exempt reserves | 132 | €198,706 | €181,247 | -€17,459 | -8.8% |
| Distributable reserves | 133 | €555,067 | €621,076 | +€66,009 | +11.9% |
| Provisions and deferred taxes | 16 | €66,235 | €60,416 | -€5,820 | -8.8% |
| Deferred taxes | 168 | €66,235 | €60,416 | -€5,820 | -8.8% |
| Amounts payable | 17/49 | €891,591 | €818,243 | -€73,347 | -8.2% |
| Amounts payable after more than one year | 17 | €760,808 | €680,370 | -€80,438 | -10.6% |
| Financial debts | 170/4 | €760,808 | €680,370 | -€80,438 | -10.6% |
| Amounts payable within one year | 42/48 | €129,897 | €137,031 | +€7,134 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €78,212 | €80,563 | +€2,350 | +3.0% |
| Trade debts | 44 | €4,027 | €5,260 | +€1,233 | +30.6% |
| Suppliers | 440/4 | €4,027 | €5,260 | +€1,233 | +30.6% |
| Taxes, remuneration and social security | 45 | €7,658 | €11,208 | +€3,550 | +46.4% |
| Taxes | 450/3 | €7,658 | €11,208 | +€3,550 | +46.4% |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €886 | €843 | -€43 | -4.8% |
| Non-recurring operating income | 76A | - | €2,657 | +€2,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,661 | €58,479 | -€2,182 | -3.6% |
| Other operating charges | 640/8 | €27,897 | €27,478 | -€419 | -1.5% |
| Gross operating margin | 9900 | €203,265 | €211,163 | +€7,898 | +3.9% |
| Operating profit (loss) | 9901 | €114,706 | €125,205 | +€10,499 | +9.2% |
| Financial income | 75/76B | €85 | €278 | +€193 | +228% |
| Recurring financial income | 75 | €85 | €278 | +€193 | +228% |
| Financial charges | 65/66B | €22,657 | €20,407 | -€2,250 | -9.9% |
| Recurring financial charges | 65 | €22,657 | €20,407 | -€2,250 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €92,134 | €105,077 | +€12,943 | +14.0% |
| Transfer from deferred taxes | 780 | €5,820 | €5,820 | = | 0.0% |
| Income taxes | 67/77 | €18,971 | €22,346 | +€3,375 | +17.8% |
| Profit (loss) for the period | 9904 | €78,983 | €88,550 | +€9,567 | +12.1% |
| Transfer from tax-exempt reserves | 789 | €17,459 | €17,459 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,442 | €106,009 | +€9,567 | +9.9% |
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 17 October 2026 via checked.be.