CLEAR VANTAGE: 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.
CLEAR VANTAGE
Largest movements
- Receivables within one year +€81,609
up €81,609 (+217.0%), from €37,599 to €119,208
of which Other amounts receivable: +€81,339
- Cash -€11,079
down €11,079 (-27.8%), from €39,818 to €28,739
mainly Receivables within one year (-€81,609) and Trade debts (-€2,475)
- Reserves +€74,639
up €74,639 (+135.1%), from €55,267 to €129,906
- Trade debts -€2,475
down €2,475 (-54.5%), from €4,542 to €2,067
- Gross operating margin -€9,970
down €9,970 (-8.7%), from €115,103 to €105,133
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 | €80,327 | €151,973 | +€71,646 | +89.2% |
| Fixed assets | 21/28 | €2,909 | €4,026 | +€1,117 | +38.4% |
| Intangible fixed assets | 21 | €384 | €0 | -€384 | -100.0% |
| Tangible fixed assets | 22/27 | €2,525 | €4,026 | +€1,501 | +59.4% |
| Plant, machinery and equipment | 23 | €2,525 | €4,026 | +€1,501 | +59.4% |
| Current assets | 29/58 | €77,417 | €147,947 | +€70,529 | +91.1% |
| Amounts receivable within one year | 40/41 | €37,599 | €119,208 | +€81,609 | +217.0% |
| Trade receivables | 40 | €13,755 | €14,025 | +€270 | +2.0% |
| Other amounts receivable | 41 | €23,844 | €105,183 | +€81,339 | +341.1% |
| Cash at bank and in hand | 54/58 | €39,818 | €28,739 | -€11,079 | -27.8% |
| Total equity and liabilities | 10/49 | €80,327 | €151,973 | +€71,646 | +89.2% |
| Equity | 10/15 | €75,267 | €149,906 | +€74,639 | +99.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €55,267 | €129,906 | +€74,639 | +135.1% |
| Distributable reserves | 133 | €55,267 | €129,906 | +€74,639 | +135.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €5,060 | €2,067 | -€2,993 | -59.2% |
| Amounts payable within one year | 42/48 | €5,060 | €2,067 | -€2,993 | -59.2% |
| Trade debts | 44 | €4,542 | €2,067 | -€2,475 | -54.5% |
| Suppliers | 440/4 | €4,542 | €2,067 | -€2,475 | -54.5% |
| Taxes, remuneration and social security | 45 | €518 | €0 | -€518 | -100.0% |
| Taxes | 450/3 | €518 | €0 | -€518 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,618 | €819 | -€800 | -49.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €744 | €609 | -€136 | -18.2% |
| Gross operating margin | 9900 | €115,103 | €105,133 | -€9,970 | -8.7% |
| Operating profit (loss) | 9901 | €112,740 | €103,705 | -€9,035 | -8.0% |
| Financial charges | 65/66B | €69 | €84 | +€15 | +21.8% |
| Recurring financial charges | 65 | €69 | €84 | +€15 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €112,671 | €103,621 | -€9,050 | -8.0% |
| Income taxes | 67/77 | €28,858 | €28,982 | +€124 | +0.4% |
| Profit (loss) for the period | 9904 | €83,814 | €74,639 | -€9,174 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,814 | €74,639 | -€9,174 | -10.9% |
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 6 October 2026 via checked.be.