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
- Tangible fixed assets +€23,815
up €23,815 (+19.6%), from €121,517 to €145,332
of which Leasing and similar rights: +€58,024
- Receivables within one year -€11,989
down €11,989 (-43.5%), from €27,569 to €15,579
of which Other amounts receivable: -€12,996
- Cash -€3,960
down €3,960 (-63.1%), from €6,276 to €2,316
mainly Investment in fixed assets (net) (-€63,868) and Net result for the year (-€13,017)
- Profit (loss) carried forward -€13,017
down €13,017 (-19.0%), from -€68,468 to -€81,486
- Debts after one year +€11,414
up €11,414 (+6.7%), from €170,548 to €181,962
- Current portion of long-term debt +€9,766
up €9,766 (+34.9%), from €28,006 to €37,772
- Gross operating margin -€13,051
down €13,051 (-13.5%), from €96,744 to €83,693
- Depreciation +€6,180
up €6,180 (+18.2%), from €33,873 to €40,053
- Staff costs +€3,550
up €3,550 (+8.8%), from €40,296 to €43,846
- Financial charges +€1,652
up €1,652 (+20.4%), from €8,113 to €9,765
- Other operating charges +€1,418
up €1,418 (+104.6%), from €1,356 to €2,775
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 | €169,562 | €177,566 | +€8,004 | +4.7% |
| Fixed assets | 21/28 | €121,517 | €145,332 | +€23,815 | +19.6% |
| Tangible fixed assets | 22/27 | €121,517 | €145,332 | +€23,815 | +19.6% |
| Plant, machinery and equipment | 23 | €114,242 | €83,585 | -€30,658 | -26.8% |
| Furniture and vehicles | 24 | €7,275 | €3,724 | -€3,551 | -48.8% |
| Leasing and similar rights | 25 | - | €58,024 | +€58,024 | |
| Current assets | 29/58 | €48,045 | €32,233 | -€15,811 | -32.9% |
| Stocks and contracts in progress | 3 | €12,959 | €12,652 | -€306 | -2.4% |
| Stocks | 30/36 | €12,959 | €12,652 | -€306 | -2.4% |
| Amounts receivable within one year | 40/41 | €27,569 | €15,579 | -€11,989 | -43.5% |
| Trade receivables | 40 | €13,013 | €14,020 | +€1,007 | +7.7% |
| Other amounts receivable | 41 | €14,556 | €1,560 | -€12,996 | -89.3% |
| Cash at bank and in hand | 54/58 | €6,276 | €2,316 | -€3,960 | -63.1% |
| Deferred charges and accrued income | 490/1 | €1,242 | €1,686 | +€445 | +35.8% |
| Total equity and liabilities | 10/49 | €169,562 | €177,566 | +€8,004 | +4.7% |
| Equity | 10/15 | -€46,482 | -€59,499 | -€13,017 | -28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,387 | €3,387 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,387 | €3,387 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,468 | -€81,486 | -€13,017 | -19.0% |
| Amounts payable | 17/49 | €216,044 | €237,065 | +€21,021 | +9.7% |
| Amounts payable after more than one year | 17 | €170,548 | €181,962 | +€11,414 | +6.7% |
| Financial debts | 170/4 | €170,548 | €181,962 | +€11,414 | +6.7% |
| Amounts payable within one year | 42/48 | €45,496 | €55,103 | +€9,607 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €28,006 | €37,772 | +€9,766 | +34.9% |
| Trade debts | 44 | €8,856 | €10,018 | +€1,161 | +13.1% |
| Suppliers | 440/4 | €8,856 | €10,018 | +€1,161 | +13.1% |
| Taxes, remuneration and social security | 45 | €8,634 | €6,917 | -€1,717 | -19.9% |
| Taxes | 450/3 | €4,167 | €3,593 | -€574 | -13.8% |
| Remuneration and social security | 454/9 | €4,467 | €3,324 | -€1,143 | -25.6% |
| Other amounts payable | 47/48 | - | €396 | +€396 | |
| Non-recurring operating income | 76A | - | €5,785 | +€5,785 | |
| Remuneration, social security and pensions | 62 | €40,296 | €43,846 | +€3,550 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,873 | €40,053 | +€6,180 | +18.2% |
| Other operating charges | 640/8 | €1,356 | €2,775 | +€1,418 | +104.6% |
| Gross operating margin | 9900 | €96,744 | €83,693 | -€13,051 | -13.5% |
| Operating profit (loss) | 9901 | €21,218 | -€2,981 | -€24,199 | |
| Financial income | 75/76B | €65 | €42 | -€23 | -35.2% |
| Recurring financial income | 75 | €65 | €42 | -€23 | -35.2% |
| Financial charges | 65/66B | €8,113 | €9,765 | +€1,652 | +20.4% |
| Recurring financial charges | 65 | €8,113 | €9,765 | +€1,652 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €13,170 | -€12,704 | -€25,875 | |
| Income taxes | 67/77 | €279 | €313 | +€34 | +12.1% |
| Profit (loss) for the period | 9904 | €12,891 | -€13,017 | -€25,909 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,891 | -€13,017 | -€25,909 |
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 4 October 2026 via checked.be.