CLAUS & DE CORTE: 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.
CLAUS & DE CORTE
Largest movements
- Tangible fixed assets +€30,477
up €30,477 (+70.0%), from €43,529 to €74,007
of which Plant, machinery and equipment: +€39,806
- Receivables within one year +€17,074
up €17,074 (+320.6%), from €5,325 to €22,399
- Cash -€7,130
down €7,130 (-27.1%), from €26,358 to €19,228
mainly Investment in fixed assets (net) (-€46,270) and Trade debts (-€20,989)
- Profit (loss) carried forward +€49,611
up €49,611 (+55.3%), from €89,685 to €139,297
- Trade debts -€20,989
down €20,989 (-27.1%), from €77,400 to €56,412
- Tax, wage and social debts +€11,623
up €11,623 (+71.5%), from €16,251 to €27,874
of which Remuneration and social security: +€7,024
- Gross operating margin -€32,566
down €32,566 (-15.8%), from €206,166 to €173,600
- Depreciation +€12,417
up €12,417 (+349.6%), from €3,552 to €15,969
- Taxes -€11,960
down €11,960 (-49.1%), from €24,339 to €12,378
- Staff costs +€9,678
up €9,678 (+12.3%), from €78,972 to €88,650
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 | €210,837 | €251,082 | +€40,245 | +19.1% |
| Formation expenses | 20 | €625 | €449 | -€176 | -28.2% |
| Fixed assets | 21/28 | €178,529 | €209,007 | +€30,477 | +17.1% |
| Tangible fixed assets | 22/27 | €43,529 | €74,007 | +€30,477 | +70.0% |
| Plant, machinery and equipment | 23 | €1,519 | €41,324 | +€39,806 | +2621.4% |
| Furniture and vehicles | 24 | €18,219 | €11,332 | -€6,887 | -37.8% |
| Other tangible fixed assets | 26 | €23,791 | €21,350 | -€2,441 | -10.3% |
| Financial fixed assets | 28 | €135,000 | €135,000 | = | 0.0% |
| Current assets | 29/58 | €31,683 | €41,627 | +€9,944 | +31.4% |
| Amounts receivable within one year | 40/41 | €5,325 | €22,399 | +€17,074 | +320.6% |
| Other amounts receivable | 41 | €5,325 | €22,399 | +€17,074 | +320.6% |
| Cash at bank and in hand | 54/58 | €26,358 | €19,228 | -€7,130 | -27.1% |
| Total equity and liabilities | 10/49 | €210,837 | €251,082 | +€40,245 | +19.1% |
| Equity | 10/15 | €117,185 | €166,797 | +€49,611 | +42.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,685 | €139,297 | +€49,611 | +55.3% |
| Amounts payable | 17/49 | €93,652 | €84,286 | -€9,366 | -10.0% |
| Amounts payable within one year | 42/48 | €93,652 | €84,286 | -€9,366 | -10.0% |
| Trade debts | 44 | €77,400 | €56,412 | -€20,989 | -27.1% |
| Suppliers | 440/4 | €77,400 | €56,412 | -€20,989 | -27.1% |
| Taxes, remuneration and social security | 45 | €16,251 | €27,874 | +€11,623 | +71.5% |
| Taxes | 450/3 | €11,839 | €16,438 | +€4,599 | +38.8% |
| Remuneration and social security | 454/9 | €4,413 | €11,436 | +€7,024 | +159.2% |
| Remuneration, social security and pensions | 62 | €78,972 | €88,650 | +€9,678 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,552 | €15,969 | +€12,417 | +349.6% |
| Other operating charges | 640/8 | €7,045 | €5,626 | -€1,419 | -20.1% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €206,166 | €173,600 | -€32,566 | -15.8% |
| Operating profit (loss) | 9901 | €116,597 | €63,292 | -€53,305 | -45.7% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €80 | €1,302 | +€1,222 | +1534.5% |
| Recurring financial charges | 65 | €80 | €1,302 | +€1,222 | +1534.5% |
| Profit (loss) for the period before taxes | 9903 | €116,524 | €61,990 | -€54,534 | -46.8% |
| Income taxes | 67/77 | €24,339 | €12,378 | -€11,960 | -49.1% |
| Profit (loss) for the period | 9904 | €92,185 | €49,611 | -€42,574 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €92,185 | €49,611 | -€42,574 | -46.2% |
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 12 October 2026 via checked.be.