CLAVIS GROUP: 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.
CLAVIS GROUP
Largest movements
- Cash +€15,552
up €15,552 (+40.3%), from €38,579 to €54,131
mainly Net result for the year (+€48,077) and Other debts (+€25,990)
- Tangible fixed assets -€14,448
down €14,448 (-18.4%), from €78,529 to €64,081
of which Leasing and similar rights: -€17,039
- Receivables within one year +€2,936
up €2,936 (+19.6%), from €14,961 to €17,897
of which Trade receivables: +€2,909
- Reserves -€28,478
down €28,478 (-54.6%), from €52,158 to €23,680
- Other debts +€25,990
up €25,990 (+75.1%), from €34,627 to €60,617
- Tax, wage and social debts +€20,543
up €20,543 (+111%), from €18,470 to €39,014
of which Taxes: +€14,695
- Debts after one year -€16,200
down €16,200 (-26.5%), from €61,028 to €44,828
- Trade debts +€2,407
up €2,407 (+978%), from €246 to €2,653
- Gross operating margin +€92,373
up €92,373 (+279%), from €33,143 to €125,515
- Staff costs +€38,843
new in 2025: €38,843
- Taxes +€10,081
up €10,081 (+272%), from €3,708 to €13,789
- Depreciation +€7,469
up €7,469 (+68.9%), from €10,837 to €18,307
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 | €184,890 | €189,602 | +€4,713 | +2.5% |
| Fixed assets | 21/28 | €131,029 | €116,581 | -€14,448 | -11.0% |
| Tangible fixed assets | 22/27 | €78,529 | €64,081 | -€14,448 | -18.4% |
| Plant, machinery and equipment | 23 | €1,635 | €1,288 | -€347 | -21.2% |
| Furniture and vehicles | 24 | €779 | €3,716 | +€2,938 | +377% |
| Leasing and similar rights | 25 | €76,116 | €59,077 | -€17,039 | -22.4% |
| Financial fixed assets | 28 | €52,500 | €52,500 | = | 0.0% |
| Current assets | 29/58 | €53,861 | €73,021 | +€19,161 | +35.6% |
| Amounts receivable within one year | 40/41 | €14,961 | €17,897 | +€2,936 | +19.6% |
| Trade receivables | 40 | €14,205 | €17,114 | +€2,909 | +20.5% |
| Other amounts receivable | 41 | €756 | €783 | +€27 | +3.5% |
| Cash at bank and in hand | 54/58 | €38,579 | €54,131 | +€15,552 | +40.3% |
| Deferred charges and accrued income | 490/1 | €320 | €993 | +€673 | +210% |
| Total equity and liabilities | 10/49 | €184,890 | €189,602 | +€4,713 | +2.5% |
| Equity | 10/15 | €55,158 | €26,680 | -€28,478 | -51.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €52,158 | €23,680 | -€28,478 | -54.6% |
| Distributable reserves | 133 | €52,158 | €23,680 | -€28,478 | -54.6% |
| Amounts payable | 17/49 | €129,731 | €162,922 | +€33,190 | +25.6% |
| Amounts payable after more than one year | 17 | €61,028 | €44,828 | -€16,200 | -26.5% |
| Financial debts | 170/4 | €61,028 | €44,828 | -€16,200 | -26.5% |
| Amounts payable within one year | 42/48 | €68,703 | €118,093 | +€49,390 | +71.9% |
| Current portion of amounts payable after more than one year | 42 | €15,360 | €15,810 | +€450 | +2.9% |
| Trade debts | 44 | €246 | €2,653 | +€2,407 | +978% |
| Suppliers | 440/4 | €246 | €2,653 | +€2,407 | +978% |
| Taxes, remuneration and social security | 45 | €18,470 | €39,014 | +€20,543 | +111% |
| Taxes | 450/3 | €15,432 | €30,127 | +€14,695 | +95.2% |
| Remuneration and social security | 454/9 | €3,038 | €8,887 | +€5,849 | +192% |
| Other amounts payable | 47/48 | €34,627 | €60,617 | +€25,990 | +75.1% |
| Non-recurring operating income | 76A | €726 | - | -€726 | |
| Remuneration, social security and pensions | 62 | - | €38,843 | +€38,843 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,837 | €18,307 | +€7,469 | +68.9% |
| Other operating charges | 640/8 | €1,738 | €2,431 | +€693 | +39.9% |
| Gross operating margin | 9900 | €33,143 | €125,515 | +€92,373 | +279% |
| Operating profit (loss) | 9901 | €20,568 | €65,934 | +€45,366 | +221% |
| Financial charges | 65/66B | €3,771 | €4,069 | +€299 | +7.9% |
| Recurring financial charges | 65 | €3,771 | €4,069 | +€299 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €16,797 | €61,865 | +€45,068 | +268% |
| Income taxes | 67/77 | €3,708 | €13,789 | +€10,081 | +272% |
| Profit (loss) for the period | 9904 | €13,090 | €48,077 | +€34,987 | +267% |
| Profit (loss) for the period to be appropriated | 9905 | €13,090 | €48,077 | +€34,987 | +267% |
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 20 October 2026 via checked.be.