CLAUDIA: 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.
CLAUDIA
Largest movements
- Cash +€111,852
up €111,852 (+13.8%), from €812,385 to €924,237
mainly Net result for the year (+€136,644) and Depreciation (+€90,933)
- Tangible fixed assets -€94,652
down €94,652 (-5.7%), from €1.6m to €1.6m
of which Land and buildings: -€72,870
- Stocks and contracts -€56,825
down €56,825 (-34.3%), from €165,461 to €108,635
- Other debts -€182,945
down €182,945 (-33.5%), from €546,163 to €363,218
- Reserves +€135,480
up €135,480 (+43.2%), from €313,272 to €448,752
of which Tax-exempt reserves: +€77,480
- Trade debts -€37,126
down €37,126 (-55.8%), from €66,476 to €29,350
- Gross operating margin +€165,910
up €165,910 (+53.5%), from €310,013 to €475,924
- Write-downs +€80,592
up €80,592, from -€69,500 to €11,093
- Depreciation -€41,329
down €41,329 (-31.2%), from €132,262 to €90,933
- Staff costs -€28,728
down €28,728 (-21.6%), from €133,100 to €104,372
- Taxes +€13,951
up €13,951 (+74.2%), from €18,796 to €32,747
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 | €2,768,708 | €2,708,255 | -€60,453 | -2.2% |
| Fixed assets | 21/28 | €1,656,431 | €1,561,314 | -€95,117 | -5.7% |
| Tangible fixed assets | 22/27 | €1,649,888 | €1,555,236 | -€94,652 | -5.7% |
| Land and buildings | 22 | €1,568,783 | €1,495,913 | -€72,870 | -4.6% |
| Plant, machinery and equipment | 23 | €67,126 | €52,102 | -€15,024 | -22.4% |
| Furniture and vehicles | 24 | €13,979 | €7,221 | -€6,758 | -48.3% |
| Financial fixed assets | 28 | €6,543 | €6,078 | -€465 | -7.1% |
| Current assets | 29/58 | €1,112,277 | €1,146,941 | +€34,664 | +3.1% |
| Stocks and contracts in progress | 3 | €165,461 | €108,635 | -€56,825 | -34.3% |
| Stocks | 30/36 | €165,461 | €108,635 | -€56,825 | -34.3% |
| Amounts receivable within one year | 40/41 | €122,779 | €101,538 | -€21,241 | -17.3% |
| Trade receivables | 40 | €36,598 | €35,492 | -€1,106 | -3.0% |
| Other amounts receivable | 41 | €86,181 | €66,046 | -€20,135 | -23.4% |
| Cash at bank and in hand | 54/58 | €812,385 | €924,237 | +€111,852 | +13.8% |
| Deferred charges and accrued income | 490/1 | €11,652 | €12,531 | +€879 | +7.5% |
| Total equity and liabilities | 10/49 | €2,768,708 | €2,708,255 | -€60,453 | -2.2% |
| Equity | 10/15 | €1,939,289 | €2,075,934 | +€136,644 | +7.0% |
| Contributions | 10/11 | €116,000 | €116,000 | = | 0.0% |
| Capital | 10 | €116,000 | €116,000 | = | 0.0% |
| Issued capital | 100 | €116,000 | €116,000 | = | 0.0% |
| Reserves | 13 | €313,272 | €448,752 | +€135,480 | +43.2% |
| Non-distributable reserves | 130/1 | €11,600 | €11,600 | = | 0.0% |
| Legal reserve | 130 | €11,600 | €11,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €275,112 | €352,592 | +€77,480 | +28.2% |
| Distributable reserves | 133 | €26,560 | €84,560 | +€58,000 | +218% |
| Profit (loss) carried forward | 14 | €1,510,018 | €1,511,182 | +€1,164 | +0.1% |
| Provisions and deferred taxes | 16 | €94,198 | €118,984 | +€24,787 | +26.3% |
| Deferred taxes | 168 | €94,198 | €118,984 | +€24,787 | +26.3% |
| Amounts payable | 17/49 | €735,221 | €513,337 | -€221,884 | -30.2% |
| Amounts payable within one year | 42/48 | €656,839 | €436,777 | -€220,063 | -33.5% |
| Trade debts | 44 | €66,476 | €29,350 | -€37,126 | -55.8% |
| Suppliers | 440/4 | €66,476 | €29,350 | -€37,126 | -55.8% |
| Advances received on contracts in progress | 46 | €11,384 | €11,384 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €32,817 | €32,825 | +€8 | 0.0% |
| Taxes | 450/3 | €19,942 | €28,019 | +€8,077 | +40.5% |
| Remuneration and social security | 454/9 | €12,874 | €4,806 | -€8,068 | -62.7% |
| Other amounts payable | 47/48 | €546,163 | €363,218 | -€182,945 | -33.5% |
| Accrued charges and deferred income | 492/3 | €78,382 | €76,560 | -€1,821 | -2.3% |
| Non-recurring operating income | 76A | - | €141,282 | +€141,282 | |
| Remuneration, social security and pensions | 62 | €133,100 | €104,372 | -€28,728 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,262 | €90,933 | -€41,329 | -31.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€69,500 | €11,093 | +€80,592 | |
| Other operating charges | 640/8 | €52,858 | €46,914 | -€5,944 | -11.2% |
| Gross operating margin | 9900 | €310,013 | €475,924 | +€165,910 | +53.5% |
| Operating profit (loss) | 9901 | €61,293 | €222,612 | +€161,319 | +263% |
| Financial income | 75/76B | €6,946 | €2,511 | -€4,435 | -63.9% |
| Recurring financial income | 75 | €6,946 | €2,511 | -€4,435 | -63.9% |
| Financial charges | 65/66B | €36,581 | €30,945 | -€5,637 | -15.4% |
| Recurring financial charges | 65 | €36,581 | €30,945 | -€5,637 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €31,658 | €194,178 | +€162,520 | +513% |
| Transfer from deferred taxes | 780 | €10,534 | €10,534 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €35,320 | +€35,320 | |
| Income taxes | 67/77 | €18,796 | €32,747 | +€13,951 | +74.2% |
| Profit (loss) for the period | 9904 | €23,395 | €136,644 | +€113,249 | +484% |
| Transfer from tax-exempt reserves | 789 | €28,481 | €28,481 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €105,961 | +€105,961 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,877 | €59,164 | +€7,288 | +14.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.