CLEFS 50 NAIRE: 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.
CLEFS 50 NAIRE
Largest movements
- Receivables within one year +€8,327
up €8,327 (+84.7%), from €9,828 to €18,155
of which Other amounts receivable: +€9,379
- Stocks and contracts -€310
down €310 (-18.7%), from €1,660 to €1,350
- Profit (loss) carried forward +€4,627
up €4,627, from -€464 to €4,163
- Trade debts +€2,915
up €2,915 (+46.9%), from €6,218 to €9,133
- Tax, wage and social debts +€691
up €691 (+12.2%), from €5,641 to €6,331
of which Taxes: +€892
- Gross operating margin +€5,395
up €5,395 (+403%), from €1,338 to €6,733
- Taxes +€1,379
up €1,379 (+263%), from €523 to €1,902
- Depreciation -€1,055
no longer reported in 2025 (was €1,055)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,894 | €20,127 | +€8,233 | +69.2% |
| Formation expenses | 20 | €0 | - | = | |
| Current assets | 29/58 | €11,894 | €20,127 | +€8,233 | +69.2% |
| Stocks and contracts in progress | 3 | €1,660 | €1,350 | -€310 | -18.7% |
| Stocks | 30/36 | €1,660 | €1,350 | -€310 | -18.7% |
| Amounts receivable within one year | 40/41 | €9,828 | €18,155 | +€8,327 | +84.7% |
| Trade receivables | 40 | €1,052 | - | -€1,052 | |
| Other amounts receivable | 41 | €8,776 | €18,155 | +€9,379 | +107% |
| Cash at bank and in hand | 54/58 | €295 | €438 | +€143 | +48.6% |
| Deferred charges and accrued income | 490/1 | €112 | €184 | +€73 | +65.1% |
| Total equity and liabilities | 10/49 | €11,894 | €20,127 | +€8,233 | +69.2% |
| Equity | 10/15 | €36 | €4,663 | +€4,627 | +13,031% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€464 | €4,163 | +€4,627 | |
| Amounts payable | 17/49 | €11,859 | €15,464 | +€3,605 | +30.4% |
| Amounts payable within one year | 42/48 | €11,859 | €15,464 | +€3,605 | +30.4% |
| Trade debts | 44 | €6,218 | €9,133 | +€2,915 | +46.9% |
| Suppliers | 440/4 | €6,218 | €9,133 | +€2,915 | +46.9% |
| Taxes, remuneration and social security | 45 | €5,641 | €6,331 | +€691 | +12.2% |
| Taxes | 450/3 | €1,643 | €2,535 | +€892 | +54.3% |
| Remuneration and social security | 454/9 | €3,997 | €3,796 | -€201 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,055 | - | -€1,055 | |
| Gross operating margin | 9900 | €1,338 | €6,733 | +€5,395 | +403% |
| Operating profit (loss) | 9901 | €283 | €6,733 | +€6,450 | +2,277% |
| Financial income | 75/76B | €29 | €4 | -€25 | -86.3% |
| Recurring financial income | 75 | €29 | €4 | -€25 | -86.3% |
| Financial charges | 65/66B | €253 | €207 | -€46 | -18.1% |
| Recurring financial charges | 65 | €253 | €207 | -€46 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €59 | €6,529 | +€6,471 | +10,997% |
| Income taxes | 67/77 | €523 | €1,902 | +€1,379 | +263% |
| Profit (loss) for the period | 9904 | -€464 | €4,627 | +€5,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€464 | €4,627 | +€5,092 |
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 19 October 2026 via checked.be.