CLdN Ferries: 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
CLdN Ferries
NACE 50.200, Water transport
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9.7m
2024 · €97.8m-€88.1m
Equity
€25.2m
2024 · €25.4m-€249,394
Cash
€15,766
2024 · €253,951-€238,185
Balance sheet total
€42.1m
2024 · €31.7m+€10.5m
Largest movements
Assets
- Receivables within one year +€18.4m
up €18.4m (+113%), from €16.3m to €34.7m
of which Other amounts receivable: +€16.6m
- Tangible fixed assets -€9.0m
down €9.0m (-63.1%), from €14.3m to €5.3m
of which Furniture and vehicles: -€8.6m
- Stocks and contracts +€1.4m
up €1.4m (+190%), from €726,258 to €2.1m
Equity and liabilities
- Other debts +€10.0m
new in 2025: €10.0m
- Trade debts +€1.4m
up €1.4m (+41.4%), from €3.5m to €4.9m
- Accrued charges and deferred income -€639,669
down €639,669 (-23.3%), from €2.7m to €2.1m
Income statement
- Financial income -€94.9m
down €94.9m (-99.6%), from €95.3m to €388,691
of which Non-recurring financial income: -€94.8m
- Goods and materials +€2.8m
up €2.8m (+51.7%), from €5.3m to €8.1m
of which Purchases: +€3.4m
- Turnover +€843,559
up €843,559 (+6.7%), from €12.7m to €13.5m
- Staff costs -€323,752
down €323,752 (-7.2%), from €4.5m to €4.1m
- Other operating income -€211,584
down €211,584 (-8.4%), from €2.5m to €2.3m
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
€97.8m
Turnover
+€843,559
Other operating income
-€211,584
Goods and materials
-€2.8m
Services and other goods
-€32,304
Staff costs
+€323,752
Depreciation
+€52,171
Write-downs
-€6,718
Other operating charges
+€761
Other operating items
+€8.6m
Financial income
-€94.9m
Financial charges
+€12,544
Taxes
+€172
Result 2025
€9.7m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.8m
Investment
+€5.9m
Financing
-€10.0m
Cash 2024
€253,951
From operations (derived)
+€3.8m
Net result for the year
+€9.7m
Depreciation
+€3.1m
Stocks and contracts
-€1.4m
Receivables within one year
-€18.4m
Smaller working-capital items
+€15,313
Trade debts
+€1.4m
Other debts
+€10.0m
Accrued charges and deferred income
-€639,669
Investment (derived)
+€5.9m
Investment in fixed assets (net)
+€5.9m
Financing
-€10.0m
Contributions, distributions and other
-€10.0m
Cash 2025
€15,766
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,654,667 | €42,145,490 | +€10.5m | +33.1% |
| Fixed assets | 21/28 | €14,337,706 | €5,293,396 | -€9.0m | -63.1% |
| Intangible fixed assets | 21 | €4,093 | - | -€4,093 | |
| Tangible fixed assets | 22/27 | €14,333,613 | €5,293,396 | -€9.0m | -63.1% |
| Land and buildings | 22 | €1,172,417 | €781,612 | -€390,806 | -33.3% |
| Plant, machinery and equipment | 23 | €17,742 | €7,450 | -€10,292 | -58.0% |
| Furniture and vehicles | 24 | €13,143,454 | €4,504,335 | -€8.6m | -65.7% |
| Current assets | 29/58 | €17,316,961 | €36,852,094 | +€19.5m | +113% |
| Stocks and contracts in progress | 3 | €726,258 | €2,107,755 | +€1.4m | +190% |
| Stocks | 30/36 | €726,258 | €2,107,755 | +€1.4m | +190% |
| Raw materials and consumables | 30/31 | €726,258 | €2,107,755 | +€1.4m | +190% |
| Amounts receivable within one year | 40/41 | €16,299,288 | €34,707,569 | +€18.4m | +113% |
| Trade receivables | 40 | €1,086,373 | €2,907,538 | +€1.8m | +168% |
| Other amounts receivable | 41 | €15,212,916 | €31,800,031 | +€16.6m | +109% |
| Cash at bank and in hand | 54/58 | €253,951 | €15,766 | -€238,185 | -93.8% |
| Deferred charges and accrued income | 490/1 | €37,463 | €21,004 | -€16,459 | -43.9% |
| Total equity and liabilities | 10/49 | €31,654,667 | €42,145,490 | +€10.5m | +33.1% |
| Equity | 10/15 | €25,449,261 | €25,199,866 | -€249,394 | -1.0% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Capital | 10 | €5,000,000 | €5,000,000 | = | 0.0% |
| Issued capital | 100 | €5,000,000 | €5,000,000 | = | 0.0% |
| Reserves | 13 | €20,160,175 | €20,160,175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500,000 | €500,000 | = | 0.0% |
| Legal reserve | 130 | €500,000 | €500,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,660,175 | €19,660,175 | = | 0.0% |
| Profit (loss) carried forward | 14 | €289,086 | €39,692 | -€249,394 | -86.3% |
| Amounts payable | 17/49 | €6,205,406 | €16,945,623 | +€10.7m | +173% |
| Amounts payable within one year | 42/48 | €3,464,468 | €14,844,354 | +€11.4m | +328% |
| Trade debts | 44 | €3,459,227 | €4,890,260 | +€1.4m | +41.4% |
| Suppliers | 440/4 | €3,459,227 | €4,890,260 | +€1.4m | +41.4% |
| Taxes, remuneration and social security | 45 | €5,241 | €4,094 | -€1,146 | -21.9% |
| Taxes | 450/3 | €5,241 | €4,094 | -€1,146 | -21.9% |
| Other amounts payable | 47/48 | - | €9,950,000 | +€10.0m | |
| Accrued charges and deferred income | 492/3 | €2,740,938 | €2,101,269 | -€639,669 | -23.3% |
| Operating income | 70/76A | €15,801,738 | €25,004,510 | +€9.2m | +58.2% |
| Turnover | 70 | €12,654,374 | €13,497,932 | +€843,559 | +6.7% |
| Other operating income | 74 | €2,505,943 | €2,294,358 | -€211,584 | -8.4% |
| Non-recurring operating income | 76A | €641,422 | €9,212,220 | +€8.6m | +1,336% |
| Operating charges | 60/66A | €13,266,246 | €15,681,121 | +€2.4m | +18.2% |
| Goods for resale, raw materials and consumables | 60 | €5,327,018 | €8,079,555 | +€2.8m | +51.7% |
| Purchases | 600/8 | €6,053,276 | €9,461,051 | +€3.4m | +56.3% |
| Change in stocks: decrease (increase) | 609 | -€726,258 | -€1,381,496 | -€655,238 | -90.2% |
| Services and other goods | 61 | €284,613 | €316,918 | +€32,304 | +11.4% |
| Remuneration, social security and pensions | 62 | €4,470,925 | €4,147,173 | -€323,752 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,174,395 | €3,122,224 | -€52,171 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,718 | +€6,718 | |
| Other operating charges | 640/8 | €9,294 | €8,533 | -€761 | -8.2% |
| Operating profit (loss) | 9901 | €2,535,492 | €9,323,389 | +€6.8m | +268% |
| Financial income | 75/76B | €95,274,734 | €388,691 | -€94.9m | -99.6% |
| Recurring financial income | 75 | €443,163 | €388,691 | -€54,472 | -12.3% |
| Income from current assets | 751 | €442,203 | €366,580 | -€75,622 | -17.1% |
| Other financial income | 752/9 | €960 | €22,111 | +€21,151 | +2,203% |
| Non-recurring financial income | 76B | €94,831,571 | - | -€94.8m | |
| Financial charges | 65/66B | €15,557 | €3,014 | -€12,544 | -80.6% |
| Recurring financial charges | 65 | €4,283 | €3,014 | -€1,270 | -29.6% |
| Debt charges | 650 | €165 | - | -€165 | |
| Other financial charges | 652/9 | €4,118 | €3,014 | -€1,104 | -26.8% |
| Non-recurring financial charges | 66B | €11,274 | - | -€11,274 | |
| Profit (loss) for the period before taxes | 9903 | €97,794,669 | €9,709,067 | -€88.1m | -90.1% |
| Income taxes | 67/77 | €8,633 | €8,461 | -€172 | -2.0% |
| Taxes | 670/3 | €8,633 | €8,461 | -€172 | -2.0% |
| Profit (loss) for the period | 9904 | €97,786,036 | €9,700,606 | -€88.1m | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | €97,786,036 | €9,700,606 | -€88.1m | -90.1% |
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 27 October 2026 via checked.be.