CLEM: 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.
CLEM
Largest movements
- Cash +€716,444
up €716,444 (+67.8%), from €1.1m to €1.8m
mainly Net result for the year (+€852,516) and Other debts (+€249,842)
- Tangible fixed assets -€159,700
down €159,700 (-40.0%), from €399,031 to €239,331
of which Plant, machinery and equipment: -€147,472
- Receivables within one year +€80,588
up €80,588 (+12.1%), from €666,703 to €747,291
of which Trade receivables: +€52,881
- Stocks and contracts -€58,313
down €58,313 (-6.8%), from €852,228 to €793,916
of which Contracts in progress: -€53,220
- Reserves +€552,516
up €552,516 (+28.3%), from €2.0m to €2.5m
of which Distributable reserves: +€648,301
- Other debts +€249,842
up €249,842 (+498.1%), from €50,158 to €300,000
- Trade debts -€175,845
down €175,845 (-66.3%), from €265,217 to €89,371
- Debts after one year -€36,539
down €36,539 (-100.0%), from €36,539 to €0
- Gross operating margin +€600,583
up €600,583 (+30.6%), from €2.0m to €2.6m
- Taxes +€86,013
up €86,013 (+67.1%), from €128,219 to €214,231
- Staff costs +€46,682
up €46,682 (+3.8%), from €1.2m to €1.3m
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.
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 | €3,044,797 | €3,602,255 | +€557,458 | +18.3% |
| Fixed assets | 21/28 | €419,343 | €246,361 | -€172,981 | -41.3% |
| Intangible fixed assets | 21 | €17,562 | €4,272 | -€13,291 | -75.7% |
| Tangible fixed assets | 22/27 | €399,031 | €239,331 | -€159,700 | -40.0% |
| Plant, machinery and equipment | 23 | €276,952 | €129,480 | -€147,472 | -53.2% |
| Furniture and vehicles | 24 | €52,691 | €29,826 | -€22,865 | -43.4% |
| Other tangible fixed assets | 26 | €69,388 | €52,944 | -€16,444 | -23.7% |
| Assets under construction and advance payments | 27 | - | €27,080 | +€27,080 | |
| Financial fixed assets | 28 | €2,749 | €2,759 | +€10 | +0.4% |
| Current assets | 29/58 | €2,625,454 | €3,355,893 | +€730,439 | +27.8% |
| Stocks and contracts in progress | 3 | €852,228 | €793,916 | -€58,313 | -6.8% |
| Stocks | 30/36 | €767,377 | €762,284 | -€5,093 | -0.7% |
| Contracts in progress | 37 | €84,852 | €31,631 | -€53,220 | -62.7% |
| Amounts receivable within one year | 40/41 | €666,703 | €747,291 | +€80,588 | +12.1% |
| Trade receivables | 40 | €660,663 | €713,544 | +€52,881 | +8.0% |
| Other amounts receivable | 41 | €6,040 | €33,747 | +€27,707 | +458.7% |
| Cash at bank and in hand | 54/58 | €1,056,677 | €1,773,121 | +€716,444 | +67.8% |
| Deferred charges and accrued income | 490/1 | €49,846 | €41,566 | -€8,280 | -16.6% |
| Total equity and liabilities | 10/49 | €3,044,797 | €3,602,255 | +€557,458 | +18.3% |
| Equity | 10/15 | €2,452,824 | €3,005,340 | +€552,516 | +22.5% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €1,952,824 | €2,505,340 | +€552,516 | +28.3% |
| Non-distributable reserves | 130/1 | €145,785 | €50,000 | -€95,785 | -65.7% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €95,785 | - | -€95,785 | |
| Other | 1319 | - | €0 | = | |
| Tax-exempt reserves | 132 | €147,350 | €147,350 | = | 0.0% |
| Distributable reserves | 133 | €1,659,689 | €2,307,990 | +€648,301 | +39.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €591,973 | €596,915 | +€4,942 | +0.8% |
| Amounts payable after more than one year | 17 | €36,539 | €0 | -€36,539 | -100.0% |
| Financial debts | 170/4 | €36,539 | €0 | -€36,539 | -100.0% |
| Amounts payable within one year | 42/48 | €554,863 | €596,178 | +€41,316 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €71,381 | €36,539 | -€34,843 | -48.8% |
| Trade debts | 44 | €265,217 | €89,371 | -€175,845 | -66.3% |
| Suppliers | 440/4 | €265,217 | €89,371 | -€175,845 | -66.3% |
| Taxes, remuneration and social security | 45 | €168,106 | €170,269 | +€2,162 | +1.3% |
| Taxes | 450/3 | €66,263 | €64,265 | -€1,998 | -3.0% |
| Remuneration and social security | 454/9 | €101,843 | €106,004 | +€4,161 | +4.1% |
| Other amounts payable | 47/48 | €50,158 | €300,000 | +€249,842 | +498.1% |
| Accrued charges and deferred income | 492/3 | €572 | €737 | +€165 | +28.8% |
| Remuneration, social security and pensions | 62 | €1,226,513 | €1,273,195 | +€46,682 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230,606 | €206,081 | -€24,525 | -10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,687 | +€16,687 | |
| Other operating charges | 640/8 | €2,829 | €2,768 | -€60 | -2.1% |
| Gross operating margin | 9900 | €1,960,391 | €2,560,974 | +€600,583 | +30.6% |
| Operating profit (loss) | 9901 | €500,444 | €1,062,242 | +€561,799 | +112.3% |
| Financial income | 75/76B | €7,077 | €7,305 | +€229 | +3.2% |
| Recurring financial income | 75 | €7,077 | €7,305 | +€229 | +3.2% |
| Financial charges | 65/66B | €3,411 | €2,800 | -€611 | -17.9% |
| Recurring financial charges | 65 | €3,411 | €2,800 | -€611 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €504,109 | €1,066,747 | +€562,638 | +111.6% |
| Income taxes | 67/77 | €128,219 | €214,231 | +€86,013 | +67.1% |
| Profit (loss) for the period | 9904 | €375,890 | €852,516 | +€476,626 | +126.8% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €375,890 | €852,516 | +€476,626 | +126.8% |
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 1 October 2026 via checked.be.