CLAVAST: 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.
CLAVAST
Largest movements
- Tangible fixed assets -€131,825
down €131,825 (-4.8%), from €2.8m to €2.6m
of which Land and buildings: -€128,511
- Receivables within one year -€69,285
down €69,285 (-17.1%), from €404,474 to €335,189
of which Other amounts receivable: -€34,739
- Debts after one year -€221,322
down €221,322 (-12.2%), from €1.8m to €1.6m
of which Financial debts: -€214,456
- Reserves +€109,037
up €109,037 (+24.6%), from €443,909 to €552,946
of which Distributable reserves: +€262,070
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin +€167,689
up €167,689 (+81.6%), from €205,478 to €373,167
- Taxes +€59,983
up €59,983 (+2594.4%), from €2,312 to €62,295
- Other operating charges -€10,551
down €10,551 (-59.1%), from €17,856 to €7,305
- Financial charges -€4,710
down €4,710 (-6.6%), from €71,272 to €66,562
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 | €3,180,760 | €3,008,632 | -€172,128 | -5.4% |
| Fixed assets | 21/28 | €2,766,662 | €2,634,837 | -€131,825 | -4.8% |
| Tangible fixed assets | 22/27 | €2,766,662 | €2,634,837 | -€131,825 | -4.8% |
| Land and buildings | 22 | €2,759,495 | €2,630,984 | -€128,511 | -4.7% |
| Furniture and vehicles | 24 | €7,167 | €3,853 | -€3,314 | -46.2% |
| Current assets | 29/58 | €414,098 | €373,795 | -€40,303 | -9.7% |
| Amounts receivable within one year | 40/41 | €404,474 | €335,189 | -€69,285 | -17.1% |
| Trade receivables | 40 | €76,233 | €41,687 | -€34,546 | -45.3% |
| Other amounts receivable | 41 | €328,241 | €293,502 | -€34,739 | -10.6% |
| Cash at bank and in hand | 54/58 | €8,025 | €38,501 | +€30,476 | +379.8% |
| Deferred charges and accrued income | 490/1 | €1,599 | €105 | -€1,494 | -93.4% |
| Total equity and liabilities | 10/49 | €3,180,760 | €3,008,632 | -€172,128 | -5.4% |
| Equity | 10/15 | €964,817 | €1,073,854 | +€109,037 | +11.3% |
| Contributions | 10/11 | €520,908 | €520,908 | = | 0.0% |
| Reserves | 13 | €443,909 | €552,946 | +€109,037 | +24.6% |
| Tax-exempt reserves | 132 | €153,033 | - | -€153,033 | |
| Distributable reserves | 133 | €290,876 | €552,946 | +€262,070 | +90.1% |
| Amounts payable | 17/49 | €2,215,943 | €1,934,778 | -€281,165 | -12.7% |
| Amounts payable after more than one year | 17 | €1,808,925 | €1,587,603 | -€221,322 | -12.2% |
| Financial debts | 170/4 | €1,802,059 | €1,587,603 | -€214,456 | -11.9% |
| Other amounts payable | 178/9 | €6,866 | - | -€6,866 | |
| Amounts payable within one year | 42/48 | €405,268 | €347,175 | -€58,093 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €207,527 | €214,456 | +€6,929 | +3.3% |
| Trade debts | 44 | €126,653 | €99,185 | -€27,468 | -21.7% |
| Suppliers | 440/4 | €126,653 | €99,185 | -€27,468 | -21.7% |
| Taxes, remuneration and social security | 45 | €21,088 | €33,534 | +€12,446 | +59.0% |
| Taxes | 450/3 | €21,088 | €33,534 | +€12,446 | +59.0% |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Accrued charges and deferred income | 492/3 | €1,750 | - | -€1,750 | |
| Non-recurring operating income | 76A | €1,827 | €9,585 | +€7,758 | +424.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,431 | €131,825 | -€606 | -0.5% |
| Other operating charges | 640/8 | €17,856 | €7,305 | -€10,551 | -59.1% |
| Gross operating margin | 9900 | €205,478 | €373,167 | +€167,689 | +81.6% |
| Operating profit (loss) | 9901 | €55,191 | €234,037 | +€178,846 | +324.0% |
| Financial income | 75/76B | €4,178 | €3,107 | -€1,071 | -25.6% |
| Recurring financial income | 75 | €4,178 | €3,107 | -€1,071 | -25.6% |
| Financial charges | 65/66B | €71,272 | €66,562 | -€4,710 | -6.6% |
| Recurring financial charges | 65 | €71,272 | €66,562 | -€4,710 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,903 | €170,582 | +€182,485 | |
| Income taxes | 67/77 | €2,312 | €62,295 | +€59,983 | +2594.4% |
| Profit (loss) for the period | 9904 | -€14,215 | €108,287 | +€122,502 | |
| Transfer from tax-exempt reserves | 789 | - | €153,033 | +€153,033 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,215 | €261,320 | +€275,535 |
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.