Claro: 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.
Claro
Largest movements
- Tangible fixed assets +€302,747
up €302,747 (+85.7%), from €353,124 to €655,871
of which Land and buildings: +€310,965
- Receivables within one year +€225,230
up €225,230 (+166%), from €136,000 to €361,230
of which Other amounts receivable: +€351,454
- Cash +€151,625
up €151,625 (+660%), from €22,979 to €174,604
mainly Debts after one year (+€514,949) and Net result for the year (+€363,005)
- Debts after one year +€514,949
up €514,949 (+781%), from €65,964 to €580,914
- Reserves +€363,005
up €363,005 (+832%), from €43,649 to €406,654
of which Distributable reserves: +€369,155
- Other debts -€216,456
down €216,456 (-70.2%), from €308,183 to €91,727
- Trade debts +€20,815
up €20,815 (+19,009%), from €110 to €20,924
- Gross operating margin +€259,756
up €259,756 (+95.2%), from €272,822 to €532,578
- Taxes +€67,175
up €67,175 (+150%), from €44,841 to €112,015
- Other operating charges -€14,421
down €14,421 (-43.6%), from €33,082 to €18,661
- Depreciation -€12,316
down €12,316 (-26.4%), from €46,735 to €34,419
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 | €512,104 | €1,192,434 | +€680,330 | +133% |
| Fixed assets | 21/28 | €353,124 | €655,871 | +€302,747 | +85.7% |
| Tangible fixed assets | 22/27 | €353,124 | €655,871 | +€302,747 | +85.7% |
| Land and buildings | 22 | €335,584 | €646,548 | +€310,965 | +92.7% |
| Plant, machinery and equipment | 23 | €8,009 | €6,530 | -€1,479 | -18.5% |
| Furniture and vehicles | 24 | €9,532 | €2,793 | -€6,739 | -70.7% |
| Current assets | 29/58 | €158,979 | €536,563 | +€377,584 | +238% |
| Amounts receivable within one year | 40/41 | €136,000 | €361,230 | +€225,230 | +166% |
| Trade receivables | 40 | €136,000 | €9,776 | -€126,224 | -92.8% |
| Other amounts receivable | 41 | €0 | €351,454 | +€351,454 | |
| Cash at bank and in hand | 54/58 | €22,979 | €174,604 | +€151,625 | +660% |
| Deferred charges and accrued income | 490/1 | €0 | €728 | +€728 | |
| Total equity and liabilities | 10/49 | €512,104 | €1,192,434 | +€680,330 | +133% |
| Equity | 10/15 | €105,149 | €468,154 | +€363,005 | +345% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | - | -€61,500 | |
| Issued capital | 100 | €61,500 | - | -€61,500 | |
| Reserves | 13 | €43,649 | €406,654 | +€363,005 | +832% |
| Non-distributable reserves | 130/1 | €6,150 | €0 | -€6,150 | -100% |
| Legal reserve | 130 | €6,150 | - | -€6,150 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €37,499 | €406,654 | +€369,155 | +984% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €406,954 | €724,280 | +€317,326 | +78.0% |
| Amounts payable after more than one year | 17 | €65,964 | €580,914 | +€514,949 | +781% |
| Financial debts | 170/4 | €65,964 | €580,914 | +€514,949 | +781% |
| Amounts payable within one year | 42/48 | €340,990 | €143,367 | -€197,624 | -58.0% |
| Current portion of amounts payable after more than one year | 42 | €22,057 | €30,715 | +€8,658 | +39.3% |
| Trade debts | 44 | €110 | €20,924 | +€20,815 | +19,009% |
| Suppliers | 440/4 | €110 | €20,924 | +€20,815 | +19,009% |
| Taxes, remuneration and social security | 45 | €10,641 | €0 | -€10,641 | -100% |
| Taxes | 450/3 | €10,641 | €0 | -€10,641 | -100% |
| Other amounts payable | 47/48 | €308,183 | €91,727 | -€216,456 | -70.2% |
| Non-recurring operating income | 76A | - | €441,264 | +€441,264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,735 | €34,419 | -€12,316 | -26.4% |
| Other operating charges | 640/8 | €33,082 | €18,661 | -€14,421 | -43.6% |
| Gross operating margin | 9900 | €272,822 | €532,578 | +€259,756 | +95.2% |
| Operating profit (loss) | 9901 | €193,006 | €479,499 | +€286,493 | +148% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,609 | €4,479 | -€130 | -2.8% |
| Recurring financial charges | 65 | €4,609 | €4,479 | -€130 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €188,397 | €475,020 | +€286,623 | +152% |
| Income taxes | 67/77 | €44,841 | €112,015 | +€67,175 | +150% |
| Profit (loss) for the period | 9904 | €143,556 | €363,005 | +€219,449 | +153% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €143,556 | €363,005 | +€219,449 | +153% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.