CLAVIS VASTGOED: what changed
CLAVIS VASTGOED
Largest movements
- Tangible fixed assets -€249,599
down €249,599 (-59.9%), from €416,870 to €167,270
of which Land and buildings: -€204,598
- Receivables within one year -€29,890
down €29,890 (-30.1%), from €99,199 to €69,310
of which Trade receivables: -€21,190
- Cash +€26,211
up €26,211 (+1,842%), from €1,423 to €27,634
mainly Investment in fixed assets (net) (+€217,663) and Other debts (+€61,000)
- Debts after one year -€156,038
down €156,038 (-56.7%), from €275,130 to €119,092
- Trade debts -€132,727
down €132,727 (-77.3%), from €171,624 to €38,897
- Other debts +€61,000
new in 2025: €61,000
- Profit (loss) carried forward -€21,742
down €21,742 (-48.6%), from -€44,718 to -€66,460
- Current portion of long-term debt -€14,115
down €14,115 (-36.5%), from €38,651 to €24,536
- Gross operating margin +€59,759
up €59,759 (+38.3%), from €156,229 to €215,988
- Financial charges +€34,261
up €34,261 (+238%), from €14,406 to €48,667
- Staff costs -€16,083
down €16,083 (-9.7%), from €165,671 to €149,588
- Depreciation -€6,081
down €6,081 (-16.0%), from €38,017 to €31,936
- Other operating charges -€2,893
down €2,893 (-28.8%), from €10,027 to €7,134
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €529,321 | €278,849 | -€250,472 | -47.3% |
| Fixed assets | 21/28 | €423,163 | €173,563 | -€249,599 | -59.0% |
| Tangible fixed assets | 22/27 | €416,870 | €167,270 | -€249,599 | -59.9% |
| Land and buildings | 22 | €358,471 | €153,873 | -€204,598 | -57.1% |
| Plant, machinery and equipment | 23 | €33,221 | €0 | -€33,221 | -100% |
| Furniture and vehicles | 24 | €25,178 | €13,397 | -€11,781 | -46.8% |
| Financial fixed assets | 28 | €6,293 | €6,293 | = | 0.0% |
| Current assets | 29/58 | €106,159 | €105,286 | -€873 | -0.8% |
| Amounts receivable within one year | 40/41 | €99,199 | €69,310 | -€29,890 | -30.1% |
| Trade receivables | 40 | €40,403 | €19,213 | -€21,190 | -52.4% |
| Other amounts receivable | 41 | €58,797 | €50,097 | -€8,700 | -14.8% |
| Cash at bank and in hand | 54/58 | €1,423 | €27,634 | +€26,211 | +1,842% |
| Deferred charges and accrued income | 490/1 | €5,536 | €8,342 | +€2,806 | +50.7% |
| Total equity and liabilities | 10/49 | €529,321 | €278,849 | -€250,472 | -47.3% |
| Equity | 10/15 | -€24,718 | -€46,460 | -€21,742 | -88.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Profit (loss) carried forward | 14 | -€44,718 | -€66,460 | -€21,742 | -48.6% |
| Amounts payable | 17/49 | €554,039 | €325,309 | -€228,730 | -41.3% |
| Amounts payable after more than one year | 17 | €275,130 | €119,092 | -€156,038 | -56.7% |
| Financial debts | 170/4 | €275,130 | €119,092 | -€156,038 | -56.7% |
| Amounts payable within one year | 42/48 | €278,115 | €206,022 | -€72,092 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €38,651 | €24,536 | -€14,115 | -36.5% |
| Trade debts | 44 | €171,624 | €38,897 | -€132,727 | -77.3% |
| Suppliers | 440/4 | €171,624 | €38,897 | -€132,727 | -77.3% |
| Taxes, remuneration and social security | 45 | €67,840 | €81,590 | +€13,750 | +20.3% |
| Taxes | 450/3 | €48,893 | €38,286 | -€10,608 | -21.7% |
| Remuneration and social security | 454/9 | €18,946 | €43,304 | +€24,358 | +129% |
| Other amounts payable | 47/48 | - | €61,000 | +€61,000 | |
| Accrued charges and deferred income | 492/3 | €795 | €195 | -€600 | -75.5% |
| Non-recurring operating income | 76A | - | €47,337 | +€47,337 | |
| Remuneration, social security and pensions | 62 | €165,671 | €149,588 | -€16,083 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,017 | €31,936 | -€6,081 | -16.0% |
| Other operating charges | 640/8 | €10,027 | €7,134 | -€2,893 | -28.8% |
| Gross operating margin | 9900 | €156,229 | €215,988 | +€59,759 | +38.3% |
| Operating profit (loss) | 9901 | -€57,486 | €27,330 | +€84,816 | |
| Financial income | 75/76B | €323 | €288 | -€35 | -10.9% |
| Recurring financial income | 75 | €323 | €288 | -€35 | -10.9% |
| Financial charges | 65/66B | €14,406 | €48,667 | +€34,261 | +238% |
| Recurring financial charges | 65 | €14,406 | €48,667 | +€34,261 | +238% |
| Profit (loss) for the period before taxes | 9903 | -€71,569 | -€21,049 | +€50,520 | +70.6% |
| Income taxes | 67/77 | €619 | €692 | +€74 | +11.9% |
| Profit (loss) for the period | 9904 | -€72,188 | -€21,742 | +€50,447 | +69.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,188 | -€21,742 | +€50,447 | +69.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.