CLAVER: what changed
Two financial 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
- Receivables within one year +€129,639
up €129,639 (+1,307%), from €9,916 to €139,555
of which Other amounts receivable: +€129,795
- Financial fixed assets +€73,305
up €73,305 (+5.0%), from €1.5m to €1.5m
- Reserves +€130,558
up €130,558 (+14.2%), from €919,995 to €1.1m
- Other debts +€129,845
up €129,845 (+28.3%), from €458,993 to €588,838
- Debts after one year -€56,270
down €56,270 (-45.7%), from €123,034 to €66,764
of which Other amounts payable: -€50,000
- Financial income +€20,907
up €20,907 (+19.2%), from €108,888 to €129,795
- Gross operating margin +€4,388
up €4,388 (+25.8%), from €17,025 to €21,413
- Depreciation +€3,466
up €3,466 (+32.2%), from €10,777 to €14,243
- Financial charges +€260
up €260 (+32.4%), from €803 to €1,063
- Taxes +€238
up €238 (+8.6%), from €2,774 to €3,012
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.
Derived cash bridge
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 | €1,520,404 | €1,723,161 | +€202,757 | +13.3% |
| Fixed assets | 21/28 | €1,506,329 | €1,565,391 | +€59,062 | +3.9% |
| Tangible fixed assets | 22/27 | €52,767 | €38,524 | -€14,243 | -27.0% |
| Furniture and vehicles | 24 | €52,255 | €38,240 | -€14,015 | -26.8% |
| Other tangible fixed assets | 26 | €512 | €284 | -€228 | -44.6% |
| Financial fixed assets | 28 | €1,453,561 | €1,526,866 | +€73,305 | +5.0% |
| Current assets | 29/58 | €14,075 | €157,770 | +€143,695 | +1,021% |
| Amounts receivable within one year | 40/41 | €9,916 | €139,555 | +€129,639 | +1,307% |
| Trade receivables | 40 | €9,218 | €9,062 | -€156 | -1.7% |
| Other amounts receivable | 41 | €698 | €130,493 | +€129,795 | +18,588% |
| Cash at bank and in hand | 54/58 | €2,022 | €16,328 | +€14,306 | +708% |
| Deferred charges and accrued income | 490/1 | €2,137 | €1,887 | -€250 | -11.7% |
| Total equity and liabilities | 10/49 | €1,520,404 | €1,723,161 | +€202,757 | +13.3% |
| Equity | 10/15 | €920,995 | €1,051,553 | +€130,558 | +14.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €919,995 | €1,050,553 | +€130,558 | +14.2% |
| Distributable reserves | 133 | €919,995 | €1,050,553 | +€130,558 | +14.2% |
| Amounts payable | 17/49 | €599,409 | €671,607 | +€72,199 | +12.0% |
| Amounts payable after more than one year | 17 | €123,034 | €66,764 | -€56,270 | -45.7% |
| Financial debts | 170/4 | €23,034 | €16,764 | -€6,270 | -27.2% |
| Other amounts payable | 178/9 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Amounts payable within one year | 42/48 | €476,375 | €604,843 | +€128,468 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €6,034 | €6,270 | +€235 | +3.9% |
| Trade debts | 44 | €4,088 | €2,460 | -€1,628 | -39.8% |
| Suppliers | 440/4 | €4,088 | €2,460 | -€1,628 | -39.8% |
| Taxes, remuneration and social security | 45 | €7,260 | €7,276 | +€16 | +0.2% |
| Taxes | 450/3 | €7,260 | €7,276 | +€16 | +0.2% |
| Other amounts payable | 47/48 | €458,993 | €588,838 | +€129,845 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,777 | €14,243 | +€3,466 | +32.2% |
| Other operating charges | 640/8 | €2,387 | €2,331 | -€56 | -2.3% |
| Gross operating margin | 9900 | €17,025 | €21,413 | +€4,388 | +25.8% |
| Operating profit (loss) | 9901 | €3,861 | €4,838 | +€978 | +25.3% |
| Financial income | 75/76B | €108,888 | €129,795 | +€20,907 | +19.2% |
| Recurring financial income | 75 | €108,888 | €129,795 | +€20,907 | +19.2% |
| Financial charges | 65/66B | €803 | €1,063 | +€260 | +32.4% |
| Recurring financial charges | 65 | €803 | €1,063 | +€260 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €111,946 | €133,571 | +€21,625 | +19.3% |
| Income taxes | 67/77 | €2,774 | €3,012 | +€238 | +8.6% |
| Profit (loss) for the period | 9904 | €109,171 | €130,558 | +€21,387 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €109,171 | €130,558 | +€21,387 | +19.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.