CLAR: 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.
CLAR
Largest movements
- Tangible fixed assets +€168,758
up €168,758 (+304%), from €55,458 to €224,217
of which Leasing and similar rights: +€185,490
- Receivables within one year -€122,306
down €122,306 (-78.7%), from €155,347 to €33,041
of which Other amounts receivable: -€108,925
- Cash +€59,104
up €59,104 (+1,262%), from €4,685 to €63,789
mainly Net result for the year (+€359,981) and Other debts (+€359,981)
- Intangible fixed assets -€27,855
down €27,855 (-25.0%), from €111,419 to €83,564
- Deferred charges and accrued income +€10,665
up €10,665 (+6.4%), from €167,529 to €178,194
- Other debts +€359,981
new in 2025: €359,981
- Profit (loss) carried forward -€344,128
no longer reported in 2025 (was €344,128)
- Debts after one year +€76,341
up €76,341 (+234%), from €32,634 to €108,975
- Gross operating margin +€36,701
up €36,701 (+7.2%), from €507,388 to €544,090
- Depreciation +€13,720
up €13,720 (+27.8%), from €49,317 to €63,037
- Taxes +€7,658
up €7,658 (+7.0%), from €109,164 to €116,823
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 | €494,538 | €582,905 | +€88,367 | +17.9% |
| Fixed assets | 21/28 | €166,977 | €307,881 | +€140,904 | +84.4% |
| Intangible fixed assets | 21 | €111,419 | €83,564 | -€27,855 | -25.0% |
| Tangible fixed assets | 22/27 | €55,458 | €224,217 | +€168,758 | +304% |
| Land and buildings | 22 | €3,697 | €3,451 | -€246 | -6.7% |
| Plant, machinery and equipment | 23 | €3,242 | €3,900 | +€658 | +20.3% |
| Furniture and vehicles | 24 | €46,651 | €29,665 | -€16,986 | -36.4% |
| Leasing and similar rights | 25 | - | €185,490 | +€185,490 | |
| Other tangible fixed assets | 26 | €1,869 | €1,711 | -€157 | -8.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €327,561 | €275,024 | -€52,537 | -16.0% |
| Amounts receivable within one year | 40/41 | €155,347 | €33,041 | -€122,306 | -78.7% |
| Trade receivables | 40 | €13,904 | €523 | -€13,381 | -96.2% |
| Other amounts receivable | 41 | €141,443 | €32,518 | -€108,925 | -77.0% |
| Cash at bank and in hand | 54/58 | €4,685 | €63,789 | +€59,104 | +1,262% |
| Deferred charges and accrued income | 490/1 | €167,529 | €178,194 | +€10,665 | +6.4% |
| Total equity and liabilities | 10/49 | €494,538 | €582,905 | +€88,367 | +17.9% |
| Equity | 10/15 | €364,588 | €20,460 | -€344,128 | -94.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €344,128 | - | -€344,128 | |
| Amounts payable | 17/49 | €129,950 | €562,445 | +€432,495 | +333% |
| Amounts payable after more than one year | 17 | €32,634 | €108,975 | +€76,341 | +234% |
| Financial debts | 170/4 | €32,634 | €108,975 | +€76,341 | +234% |
| Amounts payable within one year | 42/48 | €97,316 | €453,469 | +€356,154 | +366% |
| Current portion of amounts payable after more than one year | 42 | €64,480 | €63,390 | -€1,090 | -1.7% |
| Trade debts | 44 | €2,238 | €934 | -€1,304 | -58.3% |
| Suppliers | 440/4 | €2,238 | €934 | -€1,304 | -58.3% |
| Taxes, remuneration and social security | 45 | €30,598 | €29,164 | -€1,433 | -4.7% |
| Taxes | 450/3 | €30,598 | €29,164 | -€1,433 | -4.7% |
| Other amounts payable | 47/48 | - | €359,981 | +€359,981 | |
| Non-recurring operating income | 76A | €582 | - | -€582 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,317 | €63,037 | +€13,720 | +27.8% |
| Other operating charges | 640/8 | €893 | €723 | -€171 | -19.1% |
| Gross operating margin | 9900 | €507,388 | €544,090 | +€36,701 | +7.2% |
| Operating profit (loss) | 9901 | €457,178 | €480,330 | +€23,152 | +5.1% |
| Financial charges | 65/66B | €3,885 | €3,526 | -€359 | -9.3% |
| Recurring financial charges | 65 | €3,885 | €3,526 | -€359 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €453,293 | €476,804 | +€23,511 | +5.2% |
| Income taxes | 67/77 | €109,164 | €116,823 | +€7,658 | +7.0% |
| Profit (loss) for the period | 9904 | €344,128 | €359,981 | +€15,853 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €344,128 | €359,981 | +€15,853 | +4.6% |
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.