CLAVIE: 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.
What changed
CLAVIE
NACE 46.493, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€742,882
2024 · €908,880-€165,997
Equity
€2.7m
2024 · €2.7m
Cash
€371,741
2024 · €773,818-€402,076
Balance sheet total
€9.4m
2024 · €9.9m-€452,324
Largest movements
Assets
- Cash -€402,076
down €402,076 (-52.0%), from €773,818 to €371,741
mainly Contributions, distributions and other (-€742,882) and Receivables within one year (-€260,880)
- Receivables within one year +€260,880
up €260,880 (+22.0%), from €1.2m to €1.4m
of which Trade receivables: +€342,548
- Tangible fixed assets -€225,566
down €225,566 (-6.8%), from €3.3m to €3.1m
of which Leasing and similar rights: -€265,600
Equity and liabilities
- Trade debts +€254,796
up €254,796 (+37.4%), from €681,478 to €936,274
- Debts after one year -€241,153
down €241,153 (-8.0%), from €3.0m to €2.8m
- Other debts -€165,997
down €165,997 (-18.3%), from €908,880 to €742,882
- Tax, wage and social debts -€165,506
down €165,506 (-39.7%), from €416,630 to €251,125
of which Taxes: -€179,089
- Accrued charges and deferred income -€129,464
down €129,464 (-6.9%), from €1.9m to €1.7m
Income statement
- Turnover -€134,444
down €134,444 (-1.7%), from €8.0m to €7.9m
- Taxes -€102,304
down €102,304 (-29.2%), from €350,158 to €247,854
- Goods and materials +€89,303
up €89,303 (+1.9%), from €4.7m to €4.8m
of which Change in stocks: decrease (increase): +€177,243
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
€908,880
Turnover
-€134,444
Other operating income
+€69,585
Goods and materials
-€89,303
Services and other goods
-€11,992
Staff costs
-€1,418
Depreciation
-€1,728
Write-downs
-€18,153
Provisions
+€10,000
Other operating charges
-€55,077
Financial income
-€36,337
Financial charges
+€565
Taxes
+€102,304
Result 2025
€742,882
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
+€657,139
Investment
-€75,180
Financing
-€984,035
Cash 2024
€773,818
From operations (derived)
+€657,139
Net result for the year
+€742,882
Depreciation
+€324,350
Stocks and contracts
+€68,057
Receivables within one year
-€260,880
Deferred charges and accrued income
-€6,098
Provisions
-€5,000
Trade debts
+€254,796
Tax, wage and social debts
-€165,506
Other debts
-€165,997
Accrued charges and deferred income
-€129,464
Investment (derived)
-€75,180
Investment in fixed assets (net)
-€75,180
Financing
-€984,035
Debts after one year
-€241,153
Contributions, distributions and other
-€742,882
Cash 2025
€371,741
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,864,998 | €9,412,675 | -€452,324 | -4.6% |
| Fixed assets | 21/28 | €6,513,057 | €6,263,887 | -€249,170 | -3.8% |
| Intangible fixed assets | 21 | €6,058 | €3,029 | -€3,029 | -50.0% |
| Tangible fixed assets | 22/27 | €3,322,314 | €3,096,748 | -€225,566 | -6.8% |
| Land and buildings | 22 | €1,753 | €847 | -€906 | -51.7% |
| Plant, machinery and equipment | 23 | €4,245 | €4,468 | +€223 | +5.3% |
| Furniture and vehicles | 24 | €98,907 | €142,998 | +€44,091 | +44.6% |
| Leasing and similar rights | 25 | €3,187,200 | €2,921,600 | -€265,600 | -8.3% |
| Other tangible fixed assets | 26 | €30,209 | €26,835 | -€3,374 | -11.2% |
| Financial fixed assets | 28 | €3,184,684 | €3,164,110 | -€20,574 | -0.6% |
| Affiliated companies | 280/1 | €3,184,209 | €1,663,635 | -€1.5m | -47.8% |
| Amounts receivable | 281 | €3,184,209 | €1,663,635 | -€1.5m | -47.8% |
| Other financial fixed assets | 284/8 | €475 | €1,500,475 | +€1.5m | +315789.5% |
| Shares | 284 | - | €1,500,000 | +€1.5m | |
| Amounts receivable and cash guarantees | 285/8 | €475 | €475 | = | 0.0% |
| Current assets | 29/58 | €3,351,942 | €3,148,787 | -€203,154 | -6.1% |
| Stocks and contracts in progress | 3 | €1,360,580 | €1,292,523 | -€68,057 | -5.0% |
| Stocks | 30/36 | €1,360,580 | €1,292,523 | -€68,057 | -5.0% |
| Goods purchased for resale | 34 | €1,360,580 | €1,292,523 | -€68,057 | -5.0% |
| Amounts receivable within one year | 40/41 | €1,188,270 | €1,449,150 | +€260,880 | +22.0% |
| Trade receivables | 40 | €904,456 | €1,247,004 | +€342,548 | +37.9% |
| Other amounts receivable | 41 | €283,813 | €202,146 | -€81,668 | -28.8% |
| Cash at bank and in hand | 54/58 | €773,818 | €371,741 | -€402,076 | -52.0% |
| Deferred charges and accrued income | 490/1 | €29,274 | €35,372 | +€6,098 | +20.8% |
| Total equity and liabilities | 10/49 | €9,864,998 | €9,412,675 | -€452,324 | -4.6% |
| Equity | 10/15 | €2,710,585 | €2,710,585 | = | 0.0% |
| Contributions | 10/11 | €940,000 | €940,000 | = | 0.0% |
| Capital | 10 | €940,000 | €940,000 | = | 0.0% |
| Issued capital | 100 | €940,000 | €940,000 | = | 0.0% |
| Reserves | 13 | €1,770,250 | €1,770,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €94,000 | €94,000 | = | 0.0% |
| Legal reserve | 130 | €94,000 | €94,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €1,620,000 | €1,620,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €335 | €335 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,000 | €0 | -€5,000 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €0 | -€5,000 | -100.0% |
| Other liabilities and charges | 164/5 | €5,000 | €0 | -€5,000 | -100.0% |
| Amounts payable | 17/49 | €7,149,413 | €6,702,089 | -€447,324 | -6.3% |
| Amounts payable after more than one year | 17 | €3,028,628 | €2,787,476 | -€241,153 | -8.0% |
| Financial debts | 170/4 | €3,028,628 | €2,787,476 | -€241,153 | -8.0% |
| Leasing and similar obligations | 172 | €3,028,628 | €2,787,476 | -€241,153 | -8.0% |
| Amounts payable within one year | 42/48 | €2,248,141 | €2,171,434 | -€76,708 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €241,153 | €241,153 | = | 0.0% |
| Trade debts | 44 | €681,478 | €936,274 | +€254,796 | +37.4% |
| Suppliers | 440/4 | €681,478 | €936,274 | +€254,796 | +37.4% |
| Taxes, remuneration and social security | 45 | €416,630 | €251,125 | -€165,506 | -39.7% |
| Taxes | 450/3 | €292,615 | €113,526 | -€179,089 | -61.2% |
| Remuneration and social security | 454/9 | €124,015 | €137,599 | +€13,584 | +11.0% |
| Other amounts payable | 47/48 | €908,880 | €742,882 | -€165,997 | -18.3% |
| Accrued charges and deferred income | 492/3 | €1,872,644 | €1,743,180 | -€129,464 | -6.9% |
| Operating income | 70/76A | €8,425,714 | €8,360,855 | -€64,859 | -0.8% |
| Turnover | 70 | €8,031,036 | €7,896,593 | -€134,444 | -1.7% |
| Other operating income | 74 | €394,678 | €464,262 | +€69,585 | +17.6% |
| Operating charges | 60/66A | €7,240,313 | €7,407,984 | +€167,671 | +2.3% |
| Goods for resale, raw materials and consumables | 60 | €4,717,183 | €4,806,486 | +€89,303 | +1.9% |
| Purchases | 600/8 | €4,826,369 | €4,738,429 | -€87,940 | -1.8% |
| Change in stocks: decrease (increase) | 609 | -€109,186 | €68,057 | +€177,243 | |
| Services and other goods | 61 | €620,396 | €632,388 | +€11,992 | +1.9% |
| Remuneration, social security and pensions | 62 | €1,301,464 | €1,302,882 | +€1,418 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €322,622 | €324,350 | +€1,728 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€18,153 | €0 | +€18,153 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €5,000 | -€5,000 | -€10,000 | |
| Other operating charges | 640/8 | €291,801 | €346,878 | +€55,077 | +18.9% |
| Operating profit (loss) | 9901 | €1,185,401 | €952,871 | -€232,529 | -19.6% |
| Financial income | 75/76B | €133,550 | €97,213 | -€36,337 | -27.2% |
| Recurring financial income | 75 | €133,550 | €97,213 | -€36,337 | -27.2% |
| Income from current assets | 751 | €114,329 | €78,726 | -€35,603 | -31.1% |
| Other financial income | 752/9 | €19,220 | €18,487 | -€733 | -3.8% |
| Financial charges | 65/66B | €59,913 | €59,348 | -€565 | -0.9% |
| Recurring financial charges | 65 | €59,913 | €59,348 | -€565 | -0.9% |
| Debt charges | 650 | €58,509 | €57,976 | -€533 | -0.9% |
| Other financial charges | 652/9 | €1,403 | €1,372 | -€32 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €1,259,038 | €990,737 | -€268,301 | -21.3% |
| Income taxes | 67/77 | €350,158 | €247,854 | -€102,304 | -29.2% |
| Taxes | 670/3 | €350,158 | €300,000 | -€50,158 | -14.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €52,146 | +€52,146 | |
| Profit (loss) for the period | 9904 | €908,880 | €742,882 | -€165,997 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €908,880 | €742,882 | -€165,997 | -18.3% |
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 10 October 2026 via checked.be.