CLEMENT DELFOSSE: 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.
CLEMENT DELFOSSE
Largest movements
- Tangible fixed assets +€34,395
up €34,395 (+40.9%), from €84,087 to €118,482
of which Furniture and vehicles: +€32,364
- Cash -€6,857
down €6,857 (-13.8%), from €49,689 to €42,832
mainly Investment in fixed assets (net) (-€69,967) and Trade debts (-€45,957)
- Receivables within one year +€5,206
up €5,206 (+4.9%), from €105,566 to €110,772
of which Other amounts receivable: +€8,343
- Stocks and contracts +€2,900
up €2,900 (+35.6%), from €8,150 to €11,050
- Profit (loss) carried forward +€92,401
up €92,401 (+23.6%), from -€391,967 to -€299,566
- Trade debts -€45,957
down €45,957 (-38.4%), from €119,617 to €73,661
- Current portion of long-term debt -€11,354
down €11,354 (-20.6%), from €55,027 to €43,673
- Debts after one year -€8,674
down €8,674 (-14.2%), from €60,870 to €52,196
- Tax, wage and social debts +€6,011
up €6,011 (+7,834%), from €77 to €6,088
of which Remuneration and social security: +€4,973
- Gross operating margin +€157,563
up €157,563 (+2,563%), from €6,147 to €163,710
- Staff costs +€12,705
up €12,705 (+297%), from €4,273 to €16,978
- Write-downs +€10,641
up €10,641, from -€239 to €10,402
- Depreciation +€7,703
up €7,703 (+27.6%), from €27,869 to €35,573
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 | €250,229 | €286,841 | +€36,612 | +14.6% |
| Fixed assets | 21/28 | €84,262 | €118,657 | +€34,395 | +40.8% |
| Tangible fixed assets | 22/27 | €84,087 | €118,482 | +€34,395 | +40.9% |
| Plant, machinery and equipment | 23 | €5,528 | €7,558 | +€2,031 | +36.7% |
| Furniture and vehicles | 24 | €78,560 | €110,923 | +€32,364 | +41.2% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €165,966 | €168,184 | +€2,217 | +1.3% |
| Stocks and contracts in progress | 3 | €8,150 | €11,050 | +€2,900 | +35.6% |
| Stocks | 30/36 | €8,150 | €11,050 | +€2,900 | +35.6% |
| Amounts receivable within one year | 40/41 | €105,566 | €110,772 | +€5,206 | +4.9% |
| Trade receivables | 40 | €95,114 | €91,976 | -€3,137 | -3.3% |
| Other amounts receivable | 41 | €10,453 | €18,796 | +€8,343 | +79.8% |
| Cash at bank and in hand | 54/58 | €49,689 | €42,832 | -€6,857 | -13.8% |
| Deferred charges and accrued income | 490/1 | €2,561 | €3,530 | +€969 | +37.8% |
| Total equity and liabilities | 10/49 | €250,229 | €286,841 | +€36,612 | +14.6% |
| Equity | 10/15 | -€381,967 | -€289,566 | +€92,401 | +24.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€391,967 | -€299,566 | +€92,401 | +23.6% |
| Provisions and deferred taxes | 16 | €357,273 | €357,273 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €357,273 | €357,273 | = | 0.0% |
| Other liabilities and charges | 164/5 | €357,273 | €357,273 | = | 0.0% |
| Amounts payable | 17/49 | €274,923 | €219,134 | -€55,789 | -20.3% |
| Amounts payable after more than one year | 17 | €60,870 | €52,196 | -€8,674 | -14.2% |
| Financial debts | 170/4 | €60,870 | €52,196 | -€8,674 | -14.2% |
| Amounts payable within one year | 42/48 | €214,053 | €166,938 | -€47,115 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €55,027 | €43,673 | -€11,354 | -20.6% |
| Trade debts | 44 | €119,617 | €73,661 | -€45,957 | -38.4% |
| Suppliers | 440/4 | €119,617 | €73,661 | -€45,957 | -38.4% |
| Advances received on contracts in progress | 46 | €39,332 | €43,516 | +€4,184 | +10.6% |
| Taxes, remuneration and social security | 45 | €77 | €6,088 | +€6,011 | +7,834% |
| Taxes | 450/3 | - | €1,038 | +€1,038 | |
| Remuneration and social security | 454/9 | €77 | €5,050 | +€4,973 | +6,481% |
| Remuneration, social security and pensions | 62 | €4,273 | €16,978 | +€12,705 | +297% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,869 | €35,573 | +€7,703 | +27.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€239 | €10,402 | +€10,641 | |
| Other operating charges | 640/8 | €1,543 | €2,395 | +€853 | +55.3% |
| Non-recurring operating charges | 66A | €250 | €258 | +€8 | +3.2% |
| Gross operating margin | 9900 | €6,147 | €163,710 | +€157,563 | +2,563% |
| Operating profit (loss) | 9901 | -€27,548 | €98,104 | +€125,652 | |
| Financial income | 75/76B | €54 | €326 | +€272 | +506% |
| Recurring financial income | 75 | €54 | €326 | +€272 | +506% |
| Financial charges | 65/66B | €6,670 | €6,189 | -€481 | -7.2% |
| Recurring financial charges | 65 | €6,670 | €6,189 | -€481 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€34,164 | €92,241 | +€126,405 | |
| Profit (loss) for the period | 9904 | -€34,164 | €92,241 | +€126,405 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,164 | €92,241 | +€126,405 |
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 24 October 2026 via checked.be.