CLASA: 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.
CLASA
Largest movements
- Financial fixed assets +€146,008
new in 2025: €146,008
- Current investments -€136,225
down €136,225 (-34.3%), from €397,107 to €260,882
- Tangible fixed assets +€44,722
up €44,722 (+11.3%), from €394,506 to €439,229
of which Other tangible fixed assets: +€63,777
- Cash -€21,230
down €21,230 (-51.1%), from €41,562 to €20,332
mainly Investment in fixed assets (net) (-€209,931) and Other debts (-€1,041)
- Reserves +€146,008
new in 2025: €146,008
- Profit (loss) carried forward -€143,495
down €143,495 (-26.6%), from €539,619 to €396,124
- Debts after one year +€19,818
up €19,818 (+9.4%), from €211,840 to €231,658
- Gross operating margin +€70,385
up €70,385, from -€38,350 to €32,035
- Depreciation +€10,295
up €10,295 (+115.6%), from €8,906 to €19,201
- Financial charges +€5,055
up €5,055 (+54.8%), from €9,224 to €14,279
- Financial income -€447
down €447 (-9.3%), from €4,812 to €4,365
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 | €846,411 | €877,577 | +€31,166 | +3.7% |
| Fixed assets | 21/28 | €394,506 | €585,236 | +€190,730 | +48.3% |
| Tangible fixed assets | 22/27 | €394,506 | €439,229 | +€44,722 | +11.3% |
| Land and buildings | 22 | €394,506 | €375,452 | -€19,055 | -4.8% |
| Other tangible fixed assets | 26 | - | €63,777 | +€63,777 | |
| Financial fixed assets | 28 | - | €146,008 | +€146,008 | |
| Current assets | 29/58 | €451,905 | €292,341 | -€159,564 | -35.3% |
| Amounts receivable within one year | 40/41 | €13,237 | €10,215 | -€3,021 | -22.8% |
| Trade receivables | 40 | - | €215 | +€215 | |
| Other amounts receivable | 41 | €13,237 | €10,000 | -€3,237 | -24.5% |
| Current investments | 50/53 | €397,107 | €260,882 | -€136,225 | -34.3% |
| Cash at bank and in hand | 54/58 | €41,562 | €20,332 | -€21,230 | -51.1% |
| Deferred charges and accrued income | 490/1 | - | €912 | +€912 | |
| Total equity and liabilities | 10/49 | €846,411 | €877,577 | +€31,166 | +3.7% |
| Equity | 10/15 | €622,119 | €624,631 | +€2,513 | +0.4% |
| Contributions | 10/11 | €82,500 | €82,500 | = | 0.0% |
| Reserves | 13 | - | €146,008 | +€146,008 | |
| Tax-exempt reserves | 132 | - | €146,008 | +€146,008 | |
| Profit (loss) carried forward | 14 | €539,619 | €396,124 | -€143,495 | -26.6% |
| Amounts payable | 17/49 | €224,292 | €252,946 | +€28,654 | +12.8% |
| Amounts payable after more than one year | 17 | €211,840 | €231,658 | +€19,818 | +9.4% |
| Financial debts | 170/4 | €211,840 | €231,658 | +€19,818 | +9.4% |
| Amounts payable within one year | 42/48 | €12,452 | €19,917 | +€7,464 | +59.9% |
| Current portion of amounts payable after more than one year | 42 | €8,160 | €9,540 | +€1,380 | +16.9% |
| Trade debts | 44 | €920 | €4,893 | +€3,973 | +431.9% |
| Suppliers | 440/4 | €920 | €4,893 | +€3,973 | +431.9% |
| Taxes, remuneration and social security | 45 | - | €3,152 | +€3,152 | |
| Taxes | 450/3 | - | €3,152 | +€3,152 | |
| Other amounts payable | 47/48 | €3,372 | €2,332 | -€1,041 | -30.9% |
| Accrued charges and deferred income | 492/3 | - | €1,372 | +€1,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,906 | €19,201 | +€10,295 | +115.6% |
| Other operating charges | 640/8 | €1,562 | €1,895 | +€333 | +21.3% |
| Gross operating margin | 9900 | -€38,350 | €32,035 | +€70,385 | |
| Operating profit (loss) | 9901 | -€48,817 | €10,939 | +€59,757 | |
| Financial income | 75/76B | €4,812 | €4,365 | -€447 | -9.3% |
| Recurring financial income | 75 | €4,812 | €4,365 | -€447 | -9.3% |
| Financial charges | 65/66B | €9,224 | €14,279 | +€5,055 | +54.8% |
| Recurring financial charges | 65 | €9,224 | €14,279 | +€5,055 | +54.8% |
| Profit (loss) for the period before taxes | 9903 | -€53,229 | €1,026 | +€54,255 | |
| Income taxes | 67/77 | €119 | - | -€119 | |
| Profit (loss) for the period | 9904 | -€53,348 | €1,026 | +€54,374 | |
| Transfer to tax-exempt reserves | 689 | - | €146,008 | +€146,008 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,348 | -€144,982 | -€91,634 | -171.8% |
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 6 October 2026 via checked.be.