CLASSO: 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.
CLASSO
Largest movements
- Stocks and contracts -€163,172
down €163,172 (-26.8%), from €609,432 to €446,260
- Cash +€157,828
up €157,828 (+71.7%), from €220,031 to €377,858
mainly Net result for the year (+€172,568) and Stocks and contracts (+€163,172)
- Current investments -€40,965
down €40,965 (-5.8%), from €712,208 to €671,243
- Tangible fixed assets -€35,540
down €35,540 (-36.3%), from €97,974 to €62,434
of which Furniture and vehicles: -€28,574
- Reserves -€77,432
down €77,432 (-5.4%), from €1.4m to €1.4m
of which Distributable reserves: -€77,432
- Advances received +€28,838
up €28,838 (+21.5%), from €134,073 to €162,911
- Tax, wage and social debts -€20,973
down €20,973 (-27.1%), from €77,524 to €56,551
of which Remuneration and social security: -€21,172
- Gross operating margin -€48,838
down €48,838 (-10.6%), from €461,467 to €412,629
- Staff costs -€19,085
down €19,085 (-9.7%), from €196,536 to €177,451
- Write-downs -€17,816
down €17,816, from €7,401 to -€10,415
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 | €1,761,644 | €1,675,461 | -€86,183 | -4.9% |
| Fixed assets | 21/28 | €98,123 | €62,583 | -€35,540 | -36.2% |
| Tangible fixed assets | 22/27 | €97,974 | €62,434 | -€35,540 | -36.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €24,438 | €17,473 | -€6,966 | -28.5% |
| Furniture and vehicles | 24 | €73,536 | €44,962 | -€28,574 | -38.9% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €1,663,521 | €1,612,878 | -€50,643 | -3.0% |
| Stocks and contracts in progress | 3 | €609,432 | €446,260 | -€163,172 | -26.8% |
| Stocks | 30/36 | €609,432 | €446,260 | -€163,172 | -26.8% |
| Amounts receivable within one year | 40/41 | €102,837 | €106,995 | +€4,158 | +4.0% |
| Trade receivables | 40 | €78,892 | €74,836 | -€4,056 | -5.1% |
| Other amounts receivable | 41 | €23,945 | €32,159 | +€8,214 | +34.3% |
| Current investments | 50/53 | €712,208 | €671,243 | -€40,965 | -5.8% |
| Cash at bank and in hand | 54/58 | €220,031 | €377,858 | +€157,828 | +71.7% |
| Deferred charges and accrued income | 490/1 | €19,013 | €10,521 | -€8,492 | -44.7% |
| Total equity and liabilities | 10/49 | €1,761,644 | €1,675,461 | -€86,183 | -4.9% |
| Equity | 10/15 | €1,519,018 | €1,441,586 | -€77,432 | -5.1% |
| Contributions | 10/11 | €81,000 | €81,000 | = | 0.0% |
| Capital | 10 | €81,000 | €81,000 | = | 0.0% |
| Issued capital | 100 | €81,000 | €81,000 | = | 0.0% |
| Reserves | 13 | €1,438,018 | €1,360,586 | -€77,432 | -5.4% |
| Non-distributable reserves | 130/1 | €8,100 | €8,100 | = | 0.0% |
| Legal reserve | 130 | €8,100 | €8,100 | = | 0.0% |
| Distributable reserves | 133 | €1,429,918 | €1,352,486 | -€77,432 | -5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €242,626 | €233,875 | -€8,751 | -3.6% |
| Amounts payable within one year | 42/48 | €242,315 | €233,875 | -€8,441 | -3.5% |
| Trade debts | 44 | €30,719 | €14,413 | -€16,306 | -53.1% |
| Suppliers | 440/4 | €30,719 | €14,413 | -€16,306 | -53.1% |
| Advances received on contracts in progress | 46 | €134,073 | €162,911 | +€28,838 | +21.5% |
| Taxes, remuneration and social security | 45 | €77,524 | €56,551 | -€20,973 | -27.1% |
| Taxes | 450/3 | €39,401 | €39,599 | +€199 | +0.5% |
| Remuneration and social security | 454/9 | €38,123 | €16,951 | -€21,172 | -55.5% |
| Accrued charges and deferred income | 492/3 | €311 | €0 | -€311 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €196,536 | €177,451 | -€19,085 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,863 | €35,540 | -€2,323 | -6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,401 | -€10,415 | -€17,816 | |
| Other operating charges | 640/8 | €5,498 | €5,619 | +€121 | +2.2% |
| Gross operating margin | 9900 | €461,467 | €412,629 | -€48,838 | -10.6% |
| Operating profit (loss) | 9901 | €214,170 | €204,435 | -€9,735 | -4.5% |
| Financial income | 75/76B | €29,681 | €31,260 | +€1,578 | +5.3% |
| Recurring financial income | 75 | €29,681 | €31,260 | +€1,578 | +5.3% |
| Financial charges | 65/66B | €1,734 | €686 | -€1,048 | -60.4% |
| Recurring financial charges | 65 | €1,734 | €686 | -€1,048 | -60.4% |
| Profit (loss) for the period before taxes | 9903 | €242,118 | €235,008 | -€7,110 | -2.9% |
| Income taxes | 67/77 | €64,501 | €62,440 | -€2,061 | -3.2% |
| Profit (loss) for the period | 9904 | €177,617 | €172,568 | -€5,049 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €177,617 | €172,568 | -€5,049 | -2.8% |
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 4 October 2026 via checked.be.