CLAUDED: 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.
CLAUDED
Largest movements
- Tangible fixed assets -€424,879
down €424,879 (-99.9%), from €425,515 to €636
of which Land and buildings: -€424,369
- Receivables within one year +€45,029
up €45,029 (+1.9%), from €2.4m to €2.5m
of which Other amounts receivable: +€45,161
- Debts after one year -€464,557
down €464,557 (-79.2%), from €586,901 to €122,343
- Other debts +€51,464
up €51,464 (+1.8%), from €2.9m to €3.0m
- Accrued charges and deferred income +€41,543
up €41,543 (+469.3%), from €8,853 to €50,396
- Gross operating margin +€79,221
up €79,221, from -€15,238 to €63,984
- Financial charges +€32,256
up €32,256 (+98.5%), from €32,742 to €64,998
- Depreciation -€11,536
down €11,536 (-95.8%), from €12,046 to €510
- Other operating charges +€7,910
up €7,910 (+155.8%), from €5,077 to €12,988
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 | €3,615,074 | €3,234,526 | -€380,548 | -10.5% |
| Fixed assets | 21/28 | €1,113,131 | €688,253 | -€424,879 | -38.2% |
| Tangible fixed assets | 22/27 | €425,515 | €636 | -€424,879 | -99.9% |
| Land and buildings | 22 | €424,369 | - | -€424,369 | |
| Furniture and vehicles | 24 | €1,146 | €636 | -€510 | -44.5% |
| Financial fixed assets | 28 | €687,617 | €687,617 | = | 0.0% |
| Current assets | 29/58 | €2,501,942 | €2,546,273 | +€44,331 | +1.8% |
| Amounts receivable within one year | 40/41 | €2,405,289 | €2,450,318 | +€45,029 | +1.9% |
| Trade receivables | 40 | €5,487 | €5,354 | -€132 | -2.4% |
| Other amounts receivable | 41 | €2,399,802 | €2,444,964 | +€45,161 | +1.9% |
| Cash at bank and in hand | 54/58 | €2,653 | €1,955 | -€698 | -26.3% |
| Deferred charges and accrued income | 490/1 | €94,000 | €94,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,615,074 | €3,234,526 | -€380,548 | -10.5% |
| Equity | 10/15 | -€34,070 | -€24,538 | +€9,532 | +28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,530 | -€44,998 | +€9,532 | +17.5% |
| Provisions and deferred taxes | 16 | €24,328 | - | -€24,328 | |
| Deferred taxes | 168 | €24,328 | - | -€24,328 | |
| Amounts payable | 17/49 | €3,624,815 | €3,259,064 | -€365,751 | -10.1% |
| Amounts payable after more than one year | 17 | €586,901 | €122,343 | -€464,557 | -79.2% |
| Financial debts | 170/4 | €586,901 | €122,343 | -€464,557 | -79.2% |
| Amounts payable within one year | 42/48 | €3,029,062 | €3,086,325 | +€57,263 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €38,961 | €39,557 | +€596 | +1.5% |
| Financial debts | 43 | €20,304 | €16,628 | -€3,675 | -18.1% |
| Credit institutions | 430/8 | €20,304 | €16,628 | -€3,675 | -18.1% |
| Trade debts | 44 | €33,309 | €47,085 | +€13,777 | +41.4% |
| Suppliers | 440/4 | €33,309 | €47,085 | +€13,777 | +41.4% |
| Taxes, remuneration and social security | 45 | €16,435 | €11,536 | -€4,899 | -29.8% |
| Taxes | 450/3 | €16,435 | €7,536 | -€8,899 | -54.1% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €2,920,054 | €2,971,518 | +€51,464 | +1.8% |
| Accrued charges and deferred income | 492/3 | €8,853 | €50,396 | +€41,543 | +469.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,046 | €510 | -€11,536 | -95.8% |
| Other operating charges | 640/8 | €5,077 | €12,988 | +€7,910 | +155.8% |
| Gross operating margin | 9900 | -€15,238 | €63,984 | +€79,221 | |
| Operating profit (loss) | 9901 | -€32,361 | €50,486 | +€82,847 | |
| Financial income | 75/76B | €6 | €7 | +€2 | +27.3% |
| Recurring financial income | 75 | €6 | €7 | +€2 | +27.3% |
| Financial charges | 65/66B | €32,742 | €64,998 | +€32,256 | +98.5% |
| Recurring financial charges | 65 | €32,742 | €64,998 | +€32,256 | +98.5% |
| Profit (loss) for the period before taxes | 9903 | -€65,097 | -€14,505 | +€50,592 | +77.7% |
| Transfer from deferred taxes | 780 | €804 | €24,328 | +€23,524 | +2925.0% |
| Income taxes | 67/77 | €160 | €291 | +€131 | +81.9% |
| Profit (loss) for the period | 9904 | -€64,453 | €9,532 | +€73,985 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,453 | €9,532 | +€73,985 |
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 5 October 2026 via checked.be.