CLARION: 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.
CLARION
Largest movements
- Receivables after one year -€40,532
no longer reported in 2025 (was €40,532)
- Receivables within one year -€17,749
down €17,749 (-5.0%), from €354,135 to €336,386
of which Trade receivables: -€48,866
- Cash -€13,358
down €13,358 (-79.8%), from €16,745 to €3,387
mainly Contributions, distributions and other (-€61,171) and Net result for the year (-€20,500)
- Tangible fixed assets -€8,727
down €8,727 (-29.5%), from €29,569 to €20,842
- Reserves -€78,971
down €78,971 (-22.7%), from €348,121 to €269,150
- Other debts +€17,732
up €17,732 (+40.8%), from €43,440 to €61,172
- Tax, wage and social debts -€12,254
down €12,254 (-57.4%), from €21,367 to €9,113
of which Taxes: -€12,481
- Debts after one year -€7,001
no longer reported in 2025 (was €7,001)
- Gross operating margin -€61,425
down €61,425, from €35,176 to -€26,249
- Taxes -€9,799
down €9,799, from €9,735 to -€64
- Financial income -€1,708
down €1,708 (-9.5%), from €18,066 to €16,358
- Other operating charges -€1,519
down €1,519 (-65.6%), from €2,315 to €796
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 | €444,107 | €360,615 | -€83,492 | -18.8% |
| Fixed assets | 21/28 | €29,569 | €20,842 | -€8,727 | -29.5% |
| Tangible fixed assets | 22/27 | €29,569 | €20,842 | -€8,727 | -29.5% |
| Furniture and vehicles | 24 | €29,569 | €20,842 | -€8,727 | -29.5% |
| Current assets | 29/58 | €414,538 | €339,773 | -€74,765 | -18.0% |
| Amounts receivable after more than one year | 29 | €40,532 | - | -€40,532 | |
| Other amounts receivable | 291 | €40,532 | - | -€40,532 | |
| Amounts receivable within one year | 40/41 | €354,135 | €336,386 | -€17,749 | -5.0% |
| Trade receivables | 40 | €66,233 | €17,367 | -€48,866 | -73.8% |
| Other amounts receivable | 41 | €287,902 | €319,019 | +€31,117 | +10.8% |
| Cash at bank and in hand | 54/58 | €16,745 | €3,387 | -€13,358 | -79.8% |
| Deferred charges and accrued income | 490/1 | €3,126 | - | -€3,126 | |
| Total equity and liabilities | 10/49 | €444,107 | €360,615 | -€83,492 | -18.8% |
| Equity | 10/15 | €363,321 | €281,650 | -€81,671 | -22.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €348,121 | €269,150 | -€78,971 | -22.7% |
| Distributable reserves | 133 | €348,121 | €269,150 | -€78,971 | -22.7% |
| Profit (loss) carried forward | 14 | €2,700 | - | -€2,700 | |
| Amounts payable | 17/49 | €80,786 | €78,965 | -€1,821 | -2.3% |
| Amounts payable after more than one year | 17 | €7,001 | - | -€7,001 | |
| Financial debts | 170/4 | €7,001 | - | -€7,001 | |
| Amounts payable within one year | 42/48 | €73,785 | €78,965 | +€5,180 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €8,978 | €7,001 | -€1,977 | -22.0% |
| Trade debts | 44 | - | €1,679 | +€1,679 | |
| Suppliers | 440/4 | - | €1,679 | +€1,679 | |
| Taxes, remuneration and social security | 45 | €21,367 | €9,113 | -€12,254 | -57.4% |
| Taxes | 450/3 | €14,625 | €2,144 | -€12,481 | -85.3% |
| Remuneration and social security | 454/9 | €6,742 | €6,969 | +€227 | +3.4% |
| Other amounts payable | 47/48 | €43,440 | €61,172 | +€17,732 | +40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,877 | €8,727 | -€150 | -1.7% |
| Other operating charges | 640/8 | €2,315 | €796 | -€1,519 | -65.6% |
| Gross operating margin | 9900 | €35,176 | -€26,249 | -€61,425 | |
| Operating profit (loss) | 9901 | €23,984 | -€35,772 | -€59,756 | |
| Financial income | 75/76B | €18,066 | €16,358 | -€1,708 | -9.5% |
| Recurring financial income | 75 | €18,066 | €16,358 | -€1,708 | -9.5% |
| Financial charges | 65/66B | €1,415 | €1,150 | -€265 | -18.7% |
| Recurring financial charges | 65 | €1,415 | €1,150 | -€265 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €40,635 | -€20,564 | -€61,199 | |
| Income taxes | 67/77 | €9,735 | -€64 | -€9,799 | |
| Profit (loss) for the period | 9904 | €30,900 | -€20,500 | -€51,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,900 | -€20,500 | -€51,400 |
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 20 October 2026 via checked.be.