Clé Blanche: 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.
Clé Blanche
Largest movements
- Cash -€99,023
down €99,023 (-87.5%), from €113,110 to €14,087
mainly Other debts (-€86,688) and Net result for the year (-€18,055)
- Tangible fixed assets -€7,353
down €7,353 (-4.2%), from €176,000 to €168,647
- Other debts -€86,688
down €86,688 (-59.8%), from €145,000 to €58,312
- Profit (loss) carried forward -€18,055
down €18,055 (-183.1%), from -€9,862 to -€27,917
- Depreciation +€7,353
new in 2025: €7,353
- Gross operating margin -€733
down €733 (-8.3%), from -€8,820 to -€9,553
- Taxes +€135
new in 2025: €135
- Other operating charges -€135
down €135 (-16.3%), from €823 to €689
- Financial charges +€107
up €107 (+48.9%), from €218 to €325
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €290,249 | €185,979 | -€104,270 | -35.9% |
| Fixed assets | 21/28 | €176,000 | €168,647 | -€7,353 | -4.2% |
| Tangible fixed assets | 22/27 | €176,000 | €168,647 | -€7,353 | -4.2% |
| Furniture and vehicles | 24 | €176,000 | €168,647 | -€7,353 | -4.2% |
| Current assets | 29/58 | €114,249 | €17,332 | -€96,916 | -84.8% |
| Amounts receivable within one year | 40/41 | €665 | €2,712 | +€2,047 | +307.7% |
| Trade receivables | 40 | - | €1,650 | +€1,650 | |
| Other amounts receivable | 41 | €665 | €1,062 | +€397 | +59.6% |
| Cash at bank and in hand | 54/58 | €113,110 | €14,087 | -€99,023 | -87.5% |
| Deferred charges and accrued income | 490/1 | €474 | €534 | +€60 | +12.6% |
| Total equity and liabilities | 10/49 | €290,249 | €185,979 | -€104,270 | -35.9% |
| Equity | 10/15 | €145,138 | €127,083 | -€18,055 | -12.4% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,862 | -€27,917 | -€18,055 | -183.1% |
| Amounts payable | 17/49 | €145,111 | €58,896 | -€86,214 | -59.4% |
| Amounts payable within one year | 42/48 | €145,111 | €58,896 | -€86,214 | -59.4% |
| Trade debts | 44 | €53 | €391 | +€338 | +635.3% |
| Suppliers | 440/4 | €53 | €391 | +€338 | +635.3% |
| Taxes, remuneration and social security | 45 | €57 | €193 | +€135 | +234.8% |
| Taxes | 450/3 | €57 | €193 | +€135 | +234.8% |
| Other amounts payable | 47/48 | €145,000 | €58,312 | -€86,688 | -59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,353 | +€7,353 | |
| Other operating charges | 640/8 | €823 | €689 | -€135 | -16.3% |
| Gross operating margin | 9900 | -€8,820 | -€9,553 | -€733 | -8.3% |
| Operating profit (loss) | 9901 | -€9,643 | -€17,595 | -€7,952 | -82.5% |
| Financial charges | 65/66B | €218 | €325 | +€107 | +48.9% |
| Recurring financial charges | 65 | €218 | €325 | +€107 | +48.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,862 | -€17,920 | -€8,058 | -81.7% |
| Income taxes | 67/77 | - | €135 | +€135 | |
| Profit (loss) for the period | 9904 | -€9,862 | -€18,055 | -€8,194 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,862 | -€18,055 | -€8,194 | -83.1% |
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 2 October 2026 via checked.be.