CLEMENT-MAENHOUT: 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-MAENHOUT
Largest movements
- Tangible fixed assets -€19,458
down €19,458 (-29.0%), from €67,019 to €47,562
of which Furniture and vehicles: -€18,222
- Receivables within one year -€17,514
down €17,514 (-26.4%), from €66,336 to €48,822
of which Trade receivables: -€19,749
- Cash +€11,494
up €11,494 (+13.1%), from €87,410 to €98,904
mainly Depreciation (+€19,458) and Net result for the year (+€18,967)
- Stocks and contracts -€2,529
down €2,529 (-25.1%), from €10,065 to €7,536
- Reserves +€18,967
up €18,967 (+22.1%), from €85,948 to €104,915
- Trade debts -€17,256
down €17,256 (-49.4%), from €34,944 to €17,688
- Debts after one year -€15,963
down €15,963 (-37.2%), from €42,902 to €26,939
- Accrued charges and deferred income -€7,010
down €7,010 (-69.9%), from €10,025 to €3,014
- Other debts -€5,018
down €5,018 (-34.4%), from €14,598 to €9,580
- Gross operating margin -€76,981
down €76,981 (-39.7%), from €193,675 to €116,695
- Staff costs -€39,978
down €39,978 (-37.7%), from €106,033 to €66,054
- Write-downs -€11,797
no longer reported in 2025 (was €11,797)
- Taxes -€6,475
down €6,475 (-43.2%), from €14,995 to €8,519
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 | €232,974 | €205,235 | -€27,739 | -11.9% |
| Fixed assets | 21/28 | €67,019 | €47,562 | -€19,458 | -29.0% |
| Tangible fixed assets | 22/27 | €67,019 | €47,562 | -€19,458 | -29.0% |
| Plant, machinery and equipment | 23 | €2,707 | €1,472 | -€1,235 | -45.6% |
| Furniture and vehicles | 24 | €64,313 | €46,090 | -€18,222 | -28.3% |
| Current assets | 29/58 | €165,955 | €157,673 | -€8,281 | -5.0% |
| Stocks and contracts in progress | 3 | €10,065 | €7,536 | -€2,529 | -25.1% |
| Stocks | 30/36 | €10,065 | €7,536 | -€2,529 | -25.1% |
| Amounts receivable within one year | 40/41 | €66,336 | €48,822 | -€17,514 | -26.4% |
| Trade receivables | 40 | €62,306 | €42,557 | -€19,749 | -31.7% |
| Other amounts receivable | 41 | €4,031 | €6,266 | +€2,235 | +55.4% |
| Cash at bank and in hand | 54/58 | €87,410 | €98,904 | +€11,494 | +13.1% |
| Deferred charges and accrued income | 490/1 | €2,143 | €2,411 | +€268 | +12.5% |
| Total equity and liabilities | 10/49 | €232,974 | €205,235 | -€27,739 | -11.9% |
| Equity | 10/15 | €100,208 | €119,175 | +€18,967 | +18.9% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €85,948 | €104,915 | +€18,967 | +22.1% |
| Distributable reserves | 133 | €85,948 | €104,915 | +€18,967 | +22.1% |
| Amounts payable | 17/49 | €132,766 | €86,060 | -€46,706 | -35.2% |
| Amounts payable after more than one year | 17 | €42,902 | €26,939 | -€15,963 | -37.2% |
| Financial debts | 170/4 | €42,902 | €26,939 | -€15,963 | -37.2% |
| Amounts payable within one year | 42/48 | €79,840 | €56,106 | -€23,733 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €16,187 | €16,619 | +€433 | +2.7% |
| Trade debts | 44 | €34,944 | €17,688 | -€17,256 | -49.4% |
| Suppliers | 440/4 | €34,944 | €17,688 | -€17,256 | -49.4% |
| Taxes, remuneration and social security | 45 | €14,112 | €12,220 | -€1,892 | -13.4% |
| Taxes | 450/3 | €3,995 | €3,995 | = | 0.0% |
| Remuneration and social security | 454/9 | €10,117 | €8,225 | -€1,892 | -18.7% |
| Other amounts payable | 47/48 | €14,598 | €9,580 | -€5,018 | -34.4% |
| Accrued charges and deferred income | 492/3 | €10,025 | €3,014 | -€7,010 | -69.9% |
| Remuneration, social security and pensions | 62 | €106,033 | €66,054 | -€39,978 | -37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,962 | €19,458 | +€495 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,797 | - | -€11,797 | |
| Other operating charges | 640/8 | €1,638 | €1,160 | -€478 | -29.2% |
| Gross operating margin | 9900 | €193,675 | €116,695 | -€76,981 | -39.7% |
| Operating profit (loss) | 9901 | €55,245 | €30,022 | -€25,223 | -45.7% |
| Financial income | 75/76B | €24 | €975 | +€952 | +3976.2% |
| Recurring financial income | 75 | €24 | €975 | +€952 | +3976.2% |
| Financial charges | 65/66B | €4,262 | €3,512 | -€750 | -17.6% |
| Recurring financial charges | 65 | €4,262 | €3,512 | -€750 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €51,007 | €27,486 | -€23,521 | -46.1% |
| Income taxes | 67/77 | €14,995 | €8,519 | -€6,475 | -43.2% |
| Profit (loss) for the period | 9904 | €36,013 | €18,967 | -€17,045 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,013 | €18,967 | -€17,045 | -47.3% |
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 12 October 2026 via checked.be.