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
- Cash +€710,066
up €710,066 (+98.9%), from €717,886 to €1.4m
mainly Stocks and contracts (+€372,352) and Net result for the year (+€346,401)
- Stocks and contracts -€372,352
down €372,352 (-19.2%), from €1.9m to €1.6m
- Reserves +€346,401
up €346,401 (+10.7%), from €3.2m to €3.6m
- Short-term financial debts -€44,111
no longer reported in 2025 (was €44,111)
- Gross operating margin -€85,938
down €85,938 (-15.5%), from €554,920 to €468,982
- Financial income +€16,930
up €16,930 (+92.5%), from €18,302 to €35,232
- Taxes -€15,986
down €15,986 (-12.2%), from €131,453 to €115,467
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 | €3,324,914 | €3,643,880 | +€318,965 | +9.6% |
| Current assets | 29/58 | €3,324,914 | €3,643,880 | +€318,965 | +9.6% |
| Stocks and contracts in progress | 3 | €1,935,271 | €1,562,919 | -€372,352 | -19.2% |
| Stocks | 30/36 | €1,935,271 | €1,562,919 | -€372,352 | -19.2% |
| Amounts receivable within one year | 40/41 | €671,757 | €653,008 | -€18,749 | -2.8% |
| Trade receivables | 40 | €607,759 | €514,556 | -€93,203 | -15.3% |
| Other amounts receivable | 41 | €63,998 | €138,452 | +€74,454 | +116.3% |
| Cash at bank and in hand | 54/58 | €717,886 | €1,427,953 | +€710,066 | +98.9% |
| Total equity and liabilities | 10/49 | €3,324,914 | €3,643,880 | +€318,965 | +9.6% |
| Equity | 10/15 | €3,245,901 | €3,592,302 | +€346,401 | +10.7% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €3,223,901 | €3,570,302 | +€346,401 | +10.7% |
| Distributable reserves | 133 | €3,223,901 | €3,570,302 | +€346,401 | +10.7% |
| Amounts payable | 17/49 | €79,013 | €51,577 | -€27,436 | -34.7% |
| Amounts payable within one year | 42/48 | €79,013 | €51,577 | -€27,436 | -34.7% |
| Financial debts | 43 | €44,111 | - | -€44,111 | |
| Credit institutions | 430/8 | €44,111 | - | -€44,111 | |
| Trade debts | 44 | €34,903 | €51,577 | +€16,675 | +47.8% |
| Suppliers | 440/4 | €34,903 | €51,577 | +€16,675 | +47.8% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €554,920 | €468,982 | -€85,938 | -15.5% |
| Operating profit (loss) | 9901 | €553,891 | €467,922 | -€85,969 | -15.5% |
| Financial income | 75/76B | €18,302 | €35,232 | +€16,930 | +92.5% |
| Recurring financial income | 75 | €18,302 | €35,232 | +€16,930 | +92.5% |
| Financial charges | 65/66B | €46,379 | €41,286 | -€5,094 | -11.0% |
| Recurring financial charges | 65 | €46,379 | €41,286 | -€5,094 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €525,814 | €461,868 | -€63,945 | -12.2% |
| Income taxes | 67/77 | €131,453 | €115,467 | -€15,986 | -12.2% |
| Profit (loss) for the period | 9904 | €394,360 | €346,401 | -€47,959 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €394,360 | €346,401 | -€47,959 | -12.2% |
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 9 October 2026 via checked.be.