CLAREX: what changed
Two fiscal 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.
CLAREX
Largest movements
- Tangible fixed assets +€38,476
up €38,476 (+5.7%), from €669,477 to €707,953
of which Land and buildings: +€46,433
- Receivables within one year -€8,486
down €8,486 (-59.8%), from €14,198 to €5,712
of which Trade receivables: -€6,993
- Reserves +€16,935
up €16,935 (+7.5%), from €224,386 to €241,321
- Current portion of long-term debt +€16,269
up €16,269 (+41.3%), from €39,397 to €55,666
- Trade debts +€8,634
up €8,634 (+3018.9%), from €286 to €8,920
- Depreciation +€3,950
up €3,950 (+5.8%), from €67,919 to €71,869
- Gross operating margin +€3,888
up €3,888 (+3.2%), from €120,731 to €124,619
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.
Cash bridge derived
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 | €731,419 | €765,642 | +€34,223 | +4.7% |
| Fixed assets | 21/28 | €669,677 | €708,153 | +€38,476 | +5.7% |
| Tangible fixed assets | 22/27 | €669,477 | €707,953 | +€38,476 | +5.7% |
| Land and buildings | 22 | €627,679 | €674,112 | +€46,433 | +7.4% |
| Plant, machinery and equipment | 23 | €13,039 | €10,820 | -€2,219 | -17.0% |
| Furniture and vehicles | 24 | €27,670 | €23,021 | -€4,649 | -16.8% |
| Leasing and similar rights | 25 | €1,089 | - | -€1,089 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €61,742 | €57,489 | -€4,253 | -6.9% |
| Stocks and contracts in progress | 3 | - | €1,500 | +€1,500 | |
| Stocks | 30/36 | - | €1,500 | +€1,500 | |
| Amounts receivable within one year | 40/41 | €14,198 | €5,712 | -€8,486 | -59.8% |
| Trade receivables | 40 | €12,705 | €5,712 | -€6,993 | -55.0% |
| Other amounts receivable | 41 | €1,493 | - | -€1,493 | |
| Cash at bank and in hand | 54/58 | €44,095 | €47,113 | +€3,018 | +6.8% |
| Deferred charges and accrued income | 490/1 | €3,449 | €3,164 | -€285 | -8.3% |
| Total equity and liabilities | 10/49 | €731,419 | €765,642 | +€34,223 | +4.7% |
| Equity | 10/15 | €262,986 | €279,921 | +€16,935 | +6.4% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €224,386 | €241,321 | +€16,935 | +7.5% |
| Distributable reserves | 133 | €224,386 | €241,321 | +€16,935 | +7.5% |
| Amounts payable | 17/49 | €468,433 | €485,721 | +€17,288 | +3.7% |
| Amounts payable after more than one year | 17 | €396,271 | €391,058 | -€5,213 | -1.3% |
| Financial debts | 170/4 | €243,271 | €238,058 | -€5,213 | -2.1% |
| Other amounts payable | 178/9 | €153,000 | €153,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €72,162 | €94,663 | +€22,501 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €39,397 | €55,666 | +€16,269 | +41.3% |
| Trade debts | 44 | €286 | €8,920 | +€8,634 | +3018.9% |
| Suppliers | 440/4 | €286 | €8,920 | +€8,634 | +3018.9% |
| Taxes, remuneration and social security | 45 | €5,589 | €3,329 | -€2,260 | -40.4% |
| Taxes | 450/3 | €5,059 | €1,547 | -€3,512 | -69.4% |
| Remuneration and social security | 454/9 | €530 | €1,782 | +€1,252 | +236.2% |
| Other amounts payable | 47/48 | €26,890 | €26,748 | -€142 | -0.5% |
| Non-recurring operating income | 76A | €1,296 | - | -€1,296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,919 | €71,869 | +€3,950 | +5.8% |
| Other operating charges | 640/8 | €2,825 | €2,997 | +€172 | +6.1% |
| Non-recurring operating charges | 66A | €919 | €899 | -€20 | -2.2% |
| Gross operating margin | 9900 | €120,731 | €124,619 | +€3,888 | +3.2% |
| Operating profit (loss) | 9901 | €49,068 | €48,854 | -€214 | -0.4% |
| Financial charges | 65/66B | €22,122 | €21,464 | -€658 | -3.0% |
| Recurring financial charges | 65 | €22,122 | €21,464 | -€658 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €26,946 | €27,390 | +€444 | +1.6% |
| Income taxes | 67/77 | €8,434 | €8,789 | +€355 | +4.2% |
| Profit (loss) for the period | 9904 | €18,512 | €18,601 | +€89 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,512 | €18,601 | +€89 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.