CLAUS – DENECKER: 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.
CLAUS – DENECKER
Largest movements
- Tangible fixed assets +€36,523
up €36,523 (+170.9%), from €21,365 to €57,888
of which Leasing and similar rights: +€37,699
- Cash +€35,292
up €35,292 (+133.3%), from €26,481 to €61,773
mainly Net result for the year (+€34,898) and Debts after one year (+€21,315)
- Receivables within one year -€1,412
down €1,412 (-65.7%), from €2,151 to €739
- Debts after one year +€21,315
new in 2025: €21,315
- Other debts +€14,969
up €14,969 (+48.7%), from €30,758 to €45,727
- Current portion of long-term debt +€13,745
new in 2025: €13,745
- Reserves +€9,898
up €9,898 (+59.2%), from €16,715 to €26,613
- Tax, wage and social debts +€9,279
new in 2025: €9,279
- Gross operating margin +€41,849
up €41,849 (+276.8%), from €15,120 to €56,969
- Taxes +€6,267
up €6,267 (+147.1%), from €4,261 to €10,529
- Depreciation +€5,332
up €5,332 (+98.8%), from €5,397 to €10,728
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 | €49,997 | €120,409 | +€70,412 | +140.8% |
| Fixed assets | 21/28 | €21,365 | €57,888 | +€36,523 | +170.9% |
| Tangible fixed assets | 22/27 | €21,365 | €57,888 | +€36,523 | +170.9% |
| Land and buildings | 22 | €3,686 | €3,104 | -€582 | -15.8% |
| Plant, machinery and equipment | 23 | €16,640 | €15,731 | -€908 | -5.5% |
| Furniture and vehicles | 24 | €1,039 | €1,354 | +€315 | +30.3% |
| Leasing and similar rights | 25 | - | €37,699 | +€37,699 | |
| Current assets | 29/58 | €28,632 | €62,522 | +€33,889 | +118.4% |
| Amounts receivable within one year | 40/41 | €2,151 | €739 | -€1,412 | -65.7% |
| Other amounts receivable | 41 | €2,151 | €739 | -€1,412 | -65.7% |
| Cash at bank and in hand | 54/58 | €26,481 | €61,773 | +€35,292 | +133.3% |
| Deferred charges and accrued income | 490/1 | - | €10 | +€10 | |
| Total equity and liabilities | 10/49 | €49,997 | €120,409 | +€70,412 | +140.8% |
| Equity | 10/15 | €19,215 | €29,113 | +€9,898 | +51.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €16,715 | €26,613 | +€9,898 | +59.2% |
| Distributable reserves | 133 | €16,715 | €26,613 | +€9,898 | +59.2% |
| Amounts payable | 17/49 | €30,782 | €91,296 | +€60,514 | +196.6% |
| Amounts payable after more than one year | 17 | - | €21,315 | +€21,315 | |
| Financial debts | 170/4 | - | €21,315 | +€21,315 | |
| Amounts payable within one year | 42/48 | €30,782 | €69,981 | +€39,199 | +127.3% |
| Current portion of amounts payable after more than one year | 42 | - | €13,745 | +€13,745 | |
| Trade debts | 44 | €24 | €1,231 | +€1,207 | +5039.3% |
| Suppliers | 440/4 | €24 | €1,231 | +€1,207 | +5039.3% |
| Taxes, remuneration and social security | 45 | - | €9,279 | +€9,279 | |
| Taxes | 450/3 | - | €9,279 | +€9,279 | |
| Other amounts payable | 47/48 | €30,758 | €45,727 | +€14,969 | +48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,397 | €10,728 | +€5,332 | +98.8% |
| Other operating charges | 640/8 | €56 | €57 | +€2 | +3.2% |
| Gross operating margin | 9900 | €15,120 | €56,969 | +€41,849 | +276.8% |
| Operating profit (loss) | 9901 | €9,667 | €46,183 | +€36,516 | +377.7% |
| Financial charges | 65/66B | €238 | €756 | +€518 | +218.0% |
| Recurring financial charges | 65 | €238 | €756 | +€518 | +218.0% |
| Profit (loss) for the period before taxes | 9903 | €9,430 | €45,427 | +€35,997 | +381.7% |
| Income taxes | 67/77 | €4,261 | €10,529 | +€6,267 | +147.1% |
| Profit (loss) for the period | 9904 | €5,168 | €34,898 | +€29,730 | +575.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,168 | €34,898 | +€29,730 | +575.2% |
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.