CLEM: 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.
CLEM
Largest movements
- Cash +€128,796
up €128,796 (+16.8%), from €765,611 to €894,407
mainly Net result for the year (+€414,458) and Depreciation (+€83,979)
- Tangible fixed assets +€48,126
up €48,126 (+2.0%), from €2.4m to €2.4m
of which Land and buildings: +€48,750
- Reserves +€262,792
up €262,792 (+9.2%), from €2.8m to €3.1m
of which Distributable reserves: +€262,792
- Trade debts -€65,155
down €65,155 (-98.3%), from €66,306 to €1,151
- Financial income -€123,081
down €123,081 (-22.3%), from €551,714 to €428,633
- Depreciation +€10,289
up €10,289 (+14.0%), from €73,690 to €83,979
- Gross operating margin +€10,042
up €10,042 (+10.1%), from €99,550 to €109,592
- Other operating charges -€5,282
down €5,282 (-21.5%), from €24,605 to €19,323
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 | €3,144,917 | €3,314,131 | +€169,214 | +5.4% |
| Fixed assets | 21/28 | €2,363,855 | €2,411,981 | +€48,126 | +2.0% |
| Tangible fixed assets | 22/27 | €2,358,855 | €2,406,981 | +€48,126 | +2.0% |
| Land and buildings | 22 | €2,334,019 | €2,382,769 | +€48,750 | +2.1% |
| Plant, machinery and equipment | 23 | €5,034 | €2,972 | -€2,062 | -41.0% |
| Furniture and vehicles | 24 | €19,802 | €21,240 | +€1,438 | +7.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €781,062 | €902,150 | +€121,088 | +15.5% |
| Amounts receivable within one year | 40/41 | €12,884 | €5,736 | -€7,148 | -55.5% |
| Trade receivables | 40 | - | €2,630 | +€2,630 | |
| Other amounts receivable | 41 | €12,884 | €3,106 | -€9,778 | -75.9% |
| Cash at bank and in hand | 54/58 | €765,611 | €894,407 | +€128,796 | +16.8% |
| Deferred charges and accrued income | 490/1 | €2,567 | €2,007 | -€560 | -21.8% |
| Total equity and liabilities | 10/49 | €3,144,917 | €3,314,131 | +€169,214 | +5.4% |
| Equity | 10/15 | €2,950,180 | €3,212,972 | +€262,792 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €96,620 | €96,620 | = | 0.0% |
| Reserves | 13 | €2,847,360 | €3,110,152 | +€262,792 | +9.2% |
| Tax-exempt reserves | 132 | €1,163 | €1,163 | = | 0.0% |
| Distributable reserves | 133 | €2,846,197 | €3,108,989 | +€262,792 | +9.2% |
| Amounts payable | 17/49 | €194,737 | €101,159 | -€93,578 | -48.1% |
| Amounts payable after more than one year | 17 | €69,481 | €43,014 | -€26,467 | -38.1% |
| Financial debts | 170/4 | €69,481 | €43,014 | -€26,467 | -38.1% |
| Amounts payable within one year | 42/48 | €123,556 | €57,445 | -€66,111 | -53.5% |
| Current portion of amounts payable after more than one year | 42 | €39,601 | €26,467 | -€13,134 | -33.2% |
| Trade debts | 44 | €66,306 | €1,151 | -€65,155 | -98.3% |
| Suppliers | 440/4 | €66,306 | €1,151 | -€65,155 | -98.3% |
| Taxes, remuneration and social security | 45 | €16,483 | €28,661 | +€12,178 | +73.9% |
| Taxes | 450/3 | €16,483 | €28,661 | +€12,178 | +73.9% |
| Other amounts payable | 47/48 | €1,166 | €1,166 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,700 | €700 | -€1,000 | -58.8% |
| Non-recurring operating income | 76A | - | €1,537 | +€1,537 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,690 | €83,979 | +€10,289 | +14.0% |
| Other operating charges | 640/8 | €24,605 | €19,323 | -€5,282 | -21.5% |
| Gross operating margin | 9900 | €99,550 | €109,592 | +€10,042 | +10.1% |
| Operating profit (loss) | 9901 | €1,255 | €6,290 | +€5,035 | +401.2% |
| Financial income | 75/76B | €551,714 | €428,633 | -€123,081 | -22.3% |
| Recurring financial income | 75 | €551,714 | €428,633 | -€123,081 | -22.3% |
| Financial charges | 65/66B | €3,484 | €2,666 | -€818 | -23.5% |
| Recurring financial charges | 65 | €3,484 | €2,666 | -€818 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €549,485 | €432,257 | -€117,228 | -21.3% |
| Income taxes | 67/77 | €17,299 | €17,799 | +€500 | +2.9% |
| Profit (loss) for the period | 9904 | €532,186 | €414,458 | -€117,728 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €532,186 | €414,458 | -€117,728 | -22.1% |
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 10 October 2026 via checked.be.