CLAVER: 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.
CLAVER
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€1.4m
down €1.4m (-26.3%), from €5.4m to €4.0m
of which Financial debts: -€1.4m
- Profit (loss) carried forward +€1.3m
up €1.3m, from €0 to €1.3m
- Other debts +€138,387
up €138,387 (+44.6%), from €310,200 to €448,587
- Financial income +€119,033
up €119,033 (+8.7%), from €1.4m to €1.5m
- Gross operating margin -€81,776
down €81,776 (-63.9%), from €127,990 to €46,215
- Financial charges -€34,144
down €34,144 (-16.3%), from €209,945 to €175,801
- Staff costs -€32,683
down €32,683 (-28.9%), from €112,999 to €80,316
- Taxes -€4,304
down €4,304 (-97.4%), from €4,417 to €113
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,378,141 | €13,362,671 | -€15,470 | -0.1% |
| Fixed assets | 21/28 | €12,759,949 | €12,855,650 | +€95,701 | +0.8% |
| Tangible fixed assets | 22/27 | €12,683 | €8,384 | -€4,299 | -33.9% |
| Furniture and vehicles | 24 | €12,683 | €8,384 | -€4,299 | -33.9% |
| Financial fixed assets | 28 | €12,747,266 | €12,847,266 | +€100,000 | +0.8% |
| Current assets | 29/58 | €618,192 | €507,021 | -€111,171 | -18.0% |
| Amounts receivable within one year | 40/41 | €3,261 | €0 | -€3,261 | -100.0% |
| Other amounts receivable | 41 | €3,261 | €0 | -€3,261 | -100.0% |
| Cash at bank and in hand | 54/58 | €596,433 | €506,477 | -€89,956 | -15.1% |
| Deferred charges and accrued income | 490/1 | €18,498 | €544 | -€17,954 | -97.1% |
| Total equity and liabilities | 10/49 | €13,378,141 | €13,362,671 | -€15,470 | -0.1% |
| Equity | 10/15 | €7,647,324 | €8,918,528 | +€1.3m | +16.6% |
| Contributions | 10/11 | €6,500,000 | €6,500,000 | = | 0.0% |
| Reserves | 13 | €1,147,324 | €1,147,324 | = | 0.0% |
| Distributable reserves | 133 | €1,147,324 | €1,147,324 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €1,271,204 | +€1.3m | |
| Amounts payable | 17/49 | €5,730,817 | €4,444,142 | -€1.3m | -22.5% |
| Amounts payable after more than one year | 17 | €5,392,487 | €3,974,000 | -€1.4m | -26.3% |
| Financial debts | 170/4 | €5,392,487 | €3,974,000 | -€1.4m | -26.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €338,329 | €470,142 | +€131,813 | +39.0% |
| Trade debts | 44 | €10,205 | €9,506 | -€699 | -6.9% |
| Suppliers | 440/4 | €10,205 | €9,506 | -€699 | -6.9% |
| Taxes, remuneration and social security | 45 | €17,924 | €12,049 | -€5,875 | -32.8% |
| Taxes | 450/3 | €8,804 | €729 | -€8,075 | -91.7% |
| Remuneration and social security | 454/9 | €9,121 | €11,321 | +€2,200 | +24.1% |
| Other amounts payable | 47/48 | €310,200 | €448,587 | +€138,387 | +44.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €50 | +€50 | |
| Remuneration, social security and pensions | 62 | €112,999 | €80,316 | -€32,683 | -28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,053 | €5,723 | -€329 | -5.4% |
| Other operating charges | 640/8 | €3,253 | €1,823 | -€1,430 | -44.0% |
| Non-recurring operating charges | 66A | €1,120,656 | €0 | -€1.1m | -100.0% |
| Gross operating margin | 9900 | €127,990 | €46,215 | -€81,776 | -63.9% |
| Operating profit (loss) | 9901 | -€1,114,970 | -€41,647 | +€1.1m | +96.3% |
| Financial income | 75/76B | €1,369,732 | €1,488,765 | +€119,033 | +8.7% |
| Recurring financial income | 75 | €1,369,732 | €1,488,765 | +€119,033 | +8.7% |
| Financial charges | 65/66B | €209,945 | €175,801 | -€34,144 | -16.3% |
| Recurring financial charges | 65 | €209,945 | €175,801 | -€34,144 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €44,817 | €1,271,317 | +€1.2m | +2736.7% |
| Income taxes | 67/77 | €4,417 | €113 | -€4,304 | -97.4% |
| Profit (loss) for the period | 9904 | €40,399 | €1,271,204 | +€1.2m | +3046.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,399 | €1,271,204 | +€1.2m | +3046.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.