CLAVER IMMO: 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.
What changed
CLAVER IMMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€808,790
2024 · €153,028+€655,761
Equity
€5.8m
2024 · €5.9m-€117,598
Cash
€284,862
2024 · €24,729+€260,133
Balance sheet total
€17.7m
2024 · €18.5m-€878,357
Largest movements
Assets
- Tangible fixed assets -€1.2m
down €1.2m (-7.0%), from €17.1m to €15.9m
of which Land and buildings: -€596,257
- Cash +€260,133
up €260,133 (+1051.9%), from €24,729 to €284,862
mainly Depreciation (+€1.2m) and Net result for the year (+€808,790)
Equity and liabilities
- Debts after one year -€817,110
down €817,110 (-8.1%), from €10.1m to €9.2m
of which Financial debts: -€833,048
- Other debts +€676,542
up €676,542 (+270.8%), from €249,846 to €926,387
- Current portion of long-term debt -€295,939
down €295,939 (-24.5%), from €1.2m to €913,066
Income statement
- Gross operating margin +€1.0m
up €1.0m (+67.3%), from €1.6m to €2.6m
- Taxes +€241,726
up €241,726 (+343.4%), from €70,385 to €312,110
- Depreciation +€173,403
up €173,403 (+17.1%), from €1.0m to €1.2m
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.
Result 2024
€153,028
Gross operating margin
+€1.0m
Depreciation
-€173,403
Write-downs
+€21,406
Other operating charges
+€5,243
Financial income
-€435
Financial charges
-€6,079
Taxes
-€241,726
Deferred taxes and other
+€6,927
Result 2025
€808,790
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.
From operations
+€2.6m
Investment
-€121,920
Financing
-€2.2m
Cash 2024
€24,729
From operations (derived)
+€2.6m
Net result for the year
+€808,790
Depreciation
+€1.2m
Receivables within one year
+€73,359
Deferred charges and accrued income
-€162
Provisions
-€39,199
Trade debts
-€127,059
Tax, wage and social debts
+€7,510
Other debts
+€676,542
Accrued charges and deferred income
+€4,498
Investment (derived)
-€121,920
Investment in fixed assets (net)
-€121,920
Financing
-€2.2m
Debts after one year
-€817,110
Current portion of long-term debt
-€295,939
Short-term financial debts
-€170,002
Contributions, distributions and other
-€926,387
Cash 2025
€284,862
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,536,844 | €17,658,487 | -€878,357 | -4.7% |
| Fixed assets | 21/28 | €18,421,577 | €17,356,283 | -€1.1m | -5.8% |
| Tangible fixed assets | 22/27 | €17,121,577 | €15,931,283 | -€1.2m | -7.0% |
| Land and buildings | 22 | €16,305,083 | €15,708,826 | -€596,257 | -3.7% |
| Plant, machinery and equipment | 23 | €18,117 | €15,958 | -€2,159 | -11.9% |
| Furniture and vehicles | 24 | €3,039 | €2,290 | -€749 | -24.6% |
| Assets under construction and advance payments | 27 | €795,338 | €204,209 | -€591,129 | -74.3% |
| Financial fixed assets | 28 | €1,300,000 | €1,425,000 | +€125,000 | +9.6% |
| Current assets | 29/58 | €115,267 | €302,204 | +€186,937 | +162.2% |
| Amounts receivable within one year | 40/41 | €86,799 | €13,440 | -€73,359 | -84.5% |
| Trade receivables | 40 | €52,916 | €12,081 | -€40,835 | -77.2% |
| Other amounts receivable | 41 | €33,883 | €1,359 | -€32,523 | -96.0% |
| Cash at bank and in hand | 54/58 | €24,729 | €284,862 | +€260,133 | +1051.9% |
| Deferred charges and accrued income | 490/1 | €3,739 | €3,902 | +€162 | +4.3% |
| Total equity and liabilities | 10/49 | €18,536,844 | €17,658,487 | -€878,357 | -4.7% |
| Equity | 10/15 | €5,913,829 | €5,796,231 | -€117,598 | -2.0% |
| Contributions | 10/11 | €3,750,000 | €3,750,000 | = | 0.0% |
| Capital | 10 | €3,750,000 | €3,750,000 | = | 0.0% |
| Issued capital | 100 | €3,750,000 | €3,750,000 | = | 0.0% |
| Reserves | 13 | €2,083,676 | €1,966,078 | -€117,598 | -5.6% |
| Non-distributable reserves | 130/1 | €375,000 | €375,000 | = | 0.0% |
| Legal reserve | 130 | €375,000 | €375,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,542,257 | €1,424,659 | -€117,598 | -7.6% |
| Distributable reserves | 133 | €166,419 | €166,419 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €80,153 | €80,153 | = | 0.0% |
| Provisions and deferred taxes | 16 | €514,086 | €474,886 | -€39,199 | -7.6% |
| Deferred taxes | 168 | €514,086 | €474,886 | -€39,199 | -7.6% |
| Amounts payable | 17/49 | €12,108,930 | €11,387,370 | -€721,560 | -6.0% |
| Amounts payable after more than one year | 17 | €10,066,561 | €9,249,451 | -€817,110 | -8.1% |
| Financial debts | 170/4 | €10,001,070 | €9,168,023 | -€833,048 | -8.3% |
| Other amounts payable | 178/9 | €65,491 | €81,429 | +€15,938 | +24.3% |
| Amounts payable within one year | 42/48 | €1,761,143 | €1,852,195 | +€91,052 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €1,209,005 | €913,066 | -€295,939 | -24.5% |
| Financial debts | 43 | €170,002 | €0 | -€170,002 | -100.0% |
| Credit institutions | 430/8 | €170,002 | €0 | -€170,002 | -100.0% |
| Trade debts | 44 | €132,291 | €5,232 | -€127,059 | -96.0% |
| Suppliers | 440/4 | €132,291 | €5,232 | -€127,059 | -96.0% |
| Taxes, remuneration and social security | 45 | €0 | €7,510 | +€7,510 | |
| Taxes | 450/3 | €0 | €7,510 | +€7,510 | |
| Other amounts payable | 47/48 | €249,846 | €926,387 | +€676,542 | +270.8% |
| Accrued charges and deferred income | 492/3 | €281,225 | €285,723 | +€4,498 | +1.6% |
| Non-recurring operating income | 76A | €0 | €717,949 | +€717,949 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,013,810 | €1,187,214 | +€173,403 | +17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,406 | €0 | -€21,406 | -100.0% |
| Other operating charges | 640/8 | €6,361 | €1,118 | -€5,243 | -82.4% |
| Gross operating margin | 9900 | €1,551,891 | €2,595,720 | +€1.0m | +67.3% |
| Operating profit (loss) | 9901 | €510,313 | €1,407,388 | +€897,075 | +175.8% |
| Financial income | 75/76B | €50,459 | €50,023 | -€435 | -0.9% |
| Recurring financial income | 75 | €50,459 | €50,023 | -€435 | -0.9% |
| Financial charges | 65/66B | €369,632 | €375,711 | +€6,079 | +1.6% |
| Recurring financial charges | 65 | €369,632 | €375,711 | +€6,079 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €191,140 | €1,081,701 | +€890,560 | +465.9% |
| Transfer from deferred taxes | 780 | €32,273 | €39,199 | +€6,927 | +21.5% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €70,385 | €312,110 | +€241,726 | +343.4% |
| Profit (loss) for the period | 9904 | €153,028 | €808,790 | +€655,761 | +428.5% |
| Transfer from tax-exempt reserves | 789 | €96,818 | €117,598 | +€20,780 | +21.5% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €249,846 | €926,387 | +€676,542 | +270.8% |
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 7 October 2026 via checked.be.