CLAVAN: 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.
CLAVAN
Largest movements
- Cash -€41,676
down €41,676 (-85.9%), from €48,518 to €6,843
mainly Debts after one year (-€57,283) and Investment in fixed assets (net) (-€36,342)
- Debts after one year -€57,283
down €57,283 (-42.6%), from €134,364 to €77,081
- Other debts +€37,892
up €37,892 (+10.3%), from €367,387 to €405,279
- Gross operating margin -€23,404
down €23,404 (-24.3%), from €96,467 to €73,063
- Taxes -€4,248
down €4,248, from €4,248 to -€0
- Financial charges -€1,432
down €1,432 (-4.6%), from €31,422 to €29,990
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 | €2,327,223 | €2,289,127 | -€38,096 | -1.6% |
| Fixed assets | 21/28 | €2,252,020 | €2,247,425 | -€4,594 | -0.2% |
| Tangible fixed assets | 22/27 | €2,252,020 | €2,247,425 | -€4,594 | -0.2% |
| Land and buildings | 22 | €2,252,020 | €2,247,425 | -€4,594 | -0.2% |
| Current assets | 29/58 | €75,203 | €41,701 | -€33,502 | -44.5% |
| Amounts receivable within one year | 40/41 | €26,685 | €34,858 | +€8,174 | +30.6% |
| Trade receivables | 40 | €5,932 | €8,838 | +€2,907 | +49.0% |
| Other amounts receivable | 41 | €20,753 | €26,020 | +€5,267 | +25.4% |
| Cash at bank and in hand | 54/58 | €48,518 | €6,843 | -€41,676 | -85.9% |
| Total equity and liabilities | 10/49 | €2,327,223 | €2,289,127 | -€38,096 | -1.6% |
| Equity | 10/15 | €1,710,581 | €1,697,875 | -€12,705 | -0.7% |
| Contributions | 10/11 | €343,205 | €343,205 | = | 0.0% |
| Capital | 10 | €343,205 | €343,205 | = | 0.0% |
| Issued capital | 100 | €343,205 | €343,205 | = | 0.0% |
| Reserves | 13 | €752,535 | €747,886 | -€4,648 | -0.6% |
| Non-distributable reserves | 130/1 | €34,320 | €34,320 | = | 0.0% |
| Legal reserve | 130 | €34,320 | €34,320 | = | 0.0% |
| Tax-exempt reserves | 132 | €92,324 | €87,676 | -€4,648 | -5.0% |
| Distributable reserves | 133 | €625,890 | €625,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | €614,841 | €606,784 | -€8,057 | -1.3% |
| Provisions and deferred taxes | 16 | €44,295 | €41,901 | -€2,393 | -5.4% |
| Deferred taxes | 168 | €44,295 | €41,901 | -€2,393 | -5.4% |
| Amounts payable | 17/49 | €572,347 | €549,350 | -€22,998 | -4.0% |
| Amounts payable after more than one year | 17 | €134,364 | €77,081 | -€57,283 | -42.6% |
| Financial debts | 170/4 | €134,364 | €77,081 | -€57,283 | -42.6% |
| Amounts payable within one year | 42/48 | €431,984 | €472,269 | +€40,285 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €53,915 | €56,116 | +€2,201 | +4.1% |
| Taxes, remuneration and social security | 45 | €10,682 | €10,874 | +€192 | +1.8% |
| Taxes | 450/3 | €10,682 | €10,874 | +€192 | +1.8% |
| Other amounts payable | 47/48 | €367,387 | €405,279 | +€37,892 | +10.3% |
| Accrued charges and deferred income | 492/3 | €6,000 | - | -€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,654 | €40,937 | +€283 | +0.7% |
| Other operating charges | 640/8 | €16,818 | €17,236 | +€417 | +2.5% |
| Gross operating margin | 9900 | €96,467 | €73,063 | -€23,404 | -24.3% |
| Operating profit (loss) | 9901 | €38,994 | €14,891 | -€24,103 | -61.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -23.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -23.5% |
| Financial charges | 65/66B | €31,422 | €29,990 | -€1,432 | -4.6% |
| Recurring financial charges | 65 | €31,422 | €29,990 | -€1,432 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €7,573 | -€15,099 | -€22,672 | |
| Transfer from deferred taxes | 780 | €2,393 | €2,393 | = | 0.0% |
| Income taxes | 67/77 | €4,248 | -€0 | -€4,248 | |
| Profit (loss) for the period | 9904 | €5,718 | -€12,705 | -€18,423 | |
| Transfer from tax-exempt reserves | 789 | €4,648 | €4,648 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,366 | -€8,057 | -€18,423 |
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.