CLEAVERS: 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.
CLEAVERS
Largest movements
- Receivables within one year -€94,283
down €94,283 (-96.4%), from €97,838 to €3,555
of which Trade receivables: -€75,353
- Cash -€26,326
down €26,326 (-17.7%), from €149,148 to €122,822
mainly Contributions, distributions and other (-€96,000) and Trade debts (-€52,993)
- Profit (loss) carried forward -€65,517
down €65,517 (-75.4%), from €86,898 to €21,381
- Trade debts -€52,993
down €52,993 (-97.5%), from €54,328 to €1,335
- Tax, wage and social debts -€3,750
down €3,750 (-92.0%), from €4,075 to €325
- Gross operating margin -€159,891
down €159,891 (-78.3%), from €204,282 to €44,391
- Taxes -€32,717
down €32,717 (-74.5%), from €43,904 to €11,187
- Financial income -€4,720
down €4,720 (-94.0%), from €5,023 to €303
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 | €248,121 | €127,219 | -€120,902 | -48.7% |
| Fixed assets | 21/28 | €624 | €0 | -€624 | -100.0% |
| Tangible fixed assets | 22/27 | €624 | €0 | -€624 | -100.0% |
| Furniture and vehicles | 24 | €624 | €0 | -€624 | -100.0% |
| Current assets | 29/58 | €247,497 | €127,219 | -€120,278 | -48.6% |
| Amounts receivable within one year | 40/41 | €97,838 | €3,555 | -€94,283 | -96.4% |
| Trade receivables | 40 | €75,353 | €0 | -€75,353 | -100.0% |
| Other amounts receivable | 41 | €22,485 | €3,555 | -€18,930 | -84.2% |
| Cash at bank and in hand | 54/58 | €149,148 | €122,822 | -€26,326 | -17.7% |
| Deferred charges and accrued income | 490/1 | €511 | €841 | +€330 | +64.6% |
| Total equity and liabilities | 10/49 | €248,121 | €127,219 | -€120,902 | -48.7% |
| Equity | 10/15 | €93,718 | €28,201 | -€65,517 | -69.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,898 | €21,381 | -€65,517 | -75.4% |
| Amounts payable | 17/49 | €154,403 | €99,018 | -€55,385 | -35.9% |
| Amounts payable within one year | 42/48 | €154,403 | €99,018 | -€55,385 | -35.9% |
| Trade debts | 44 | €54,328 | €1,335 | -€52,993 | -97.5% |
| Suppliers | 440/4 | €54,328 | €1,335 | -€52,993 | -97.5% |
| Taxes, remuneration and social security | 45 | €4,075 | €325 | -€3,750 | -92.0% |
| Taxes | 450/3 | €4,075 | €325 | -€3,750 | -92.0% |
| Other amounts payable | 47/48 | €96,000 | €97,358 | +€1,358 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52 | €624 | +€572 | +1100.6% |
| Other operating charges | 640/8 | €1,367 | €1,973 | +€606 | +44.3% |
| Gross operating margin | 9900 | €204,282 | €44,391 | -€159,891 | -78.3% |
| Operating profit (loss) | 9901 | €202,863 | €41,794 | -€161,069 | -79.4% |
| Financial income | 75/76B | €5,023 | €303 | -€4,720 | -94.0% |
| Recurring financial income | 75 | €5,023 | €303 | -€4,720 | -94.0% |
| Financial charges | 65/66B | €2,462 | €427 | -€2,035 | -82.7% |
| Recurring financial charges | 65 | €2,462 | €427 | -€2,035 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | €205,424 | €41,670 | -€163,754 | -79.7% |
| Income taxes | 67/77 | €43,904 | €11,187 | -€32,717 | -74.5% |
| Profit (loss) for the period | 9904 | €161,520 | €30,483 | -€131,037 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €161,520 | €30,483 | -€131,037 | -81.1% |
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 7 October 2026 via checked.be.