CLEMENTINE: 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.
CLEMENTINE
Largest movements
- Tangible fixed assets -€71,705
down €71,705 (-60.9%), from €117,743 to €46,038
of which Furniture and vehicles: -€65,667
- Cash -€51,831
down €51,831 (-38.6%), from €134,405 to €82,574
- Receivables within one year +€48,653
up €48,653 (+34.4%), from €141,357 to €190,009
of which Trade receivables: +€49,712
- Intangible fixed assets +€9,875
new in 2025: €9,875
- Reserves -€83,800
down €83,800 (-41.5%), from €201,809 to €118,009
of which Distributable reserves: -€83,800
- Tax, wage and social debts +€45,951
up €45,951 (+122.3%), from €37,579 to €83,530
of which Taxes: +€29,084
- Trade debts +€36,894
up €36,894 (+86.0%), from €42,889 to €79,783
- Debts after one year -€25,080
down €25,080 (-44.1%), from €56,828 to €31,749
- Profit (loss) carried forward -€14,637
down €14,637, from €0 to -€14,637
- Staff costs +€138,336
up €138,336 (+60.4%), from €229,044 to €367,380
- Gross operating margin +€70,988
up €70,988 (+21.6%), from €328,112 to €399,100
- Taxes -€11,667
down €11,667 (-81.6%), from €14,299 to €2,632
- Depreciation -€8,662
down €8,662 (-21.4%), from €40,532 to €31,870
- Other operating charges +€4,241
up €4,241 (+752.0%), from €564 to €4,805
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €414,495 | €352,126 | -€62,368 | -15.0% |
| Fixed assets | 21/28 | €117,743 | €55,913 | -€61,830 | -52.5% |
| Intangible fixed assets | 21 | - | €9,875 | +€9,875 | |
| Tangible fixed assets | 22/27 | €117,743 | €46,038 | -€71,705 | -60.9% |
| Plant, machinery and equipment | 23 | €14,538 | €8,500 | -€6,037 | -41.5% |
| Furniture and vehicles | 24 | €103,205 | €37,538 | -€65,667 | -63.6% |
| Current assets | 29/58 | €296,752 | €296,213 | -€539 | -0.2% |
| Amounts receivable within one year | 40/41 | €141,357 | €190,009 | +€48,653 | +34.4% |
| Trade receivables | 40 | €139,328 | €189,040 | +€49,712 | +35.7% |
| Other amounts receivable | 41 | €2,028 | €969 | -€1,059 | -52.2% |
| Current investments | 50/53 | €15,411 | €15,581 | +€170 | +1.1% |
| Cash at bank and in hand | 54/58 | €134,405 | €82,574 | -€51,831 | -38.6% |
| Deferred charges and accrued income | 490/1 | €5,579 | €8,049 | +€2,469 | +44.3% |
| Total equity and liabilities | 10/49 | €414,495 | €352,126 | -€62,368 | -15.0% |
| Equity | 10/15 | €220,409 | €115,771 | -€104,637 | -47.5% |
| Contributions | 10/11 | €18,600 | €12,400 | -€6,200 | -33.3% |
| Reserves | 13 | €201,809 | €118,009 | -€83,800 | -41.5% |
| Tax-exempt reserves | 132 | €9,518 | €9,518 | = | 0.0% |
| Distributable reserves | 133 | €192,290 | €108,490 | -€83,800 | -43.6% |
| Profit (loss) carried forward | 14 | €0 | -€14,637 | -€14,637 | |
| Amounts payable | 17/49 | €194,086 | €236,355 | +€42,269 | +21.8% |
| Amounts payable after more than one year | 17 | €56,828 | €31,749 | -€25,080 | -44.1% |
| Financial debts | 170/4 | €56,828 | €31,749 | -€25,080 | -44.1% |
| Amounts payable within one year | 42/48 | €136,759 | €204,206 | +€67,448 | +49.3% |
| Current portion of amounts payable after more than one year | 42 | €19,195 | €20,162 | +€967 | +5.0% |
| Financial debts | 43 | €3,018 | €1,050 | -€1,968 | -65.2% |
| Credit institutions | 430/8 | €3,018 | €1,050 | -€1,968 | -65.2% |
| Trade debts | 44 | €42,889 | €79,783 | +€36,894 | +86.0% |
| Suppliers | 440/4 | €42,889 | €79,783 | +€36,894 | +86.0% |
| Taxes, remuneration and social security | 45 | €37,579 | €83,530 | +€45,951 | +122.3% |
| Taxes | 450/3 | €10,267 | €39,351 | +€29,084 | +283.3% |
| Remuneration and social security | 454/9 | €27,312 | €44,179 | +€16,867 | +61.8% |
| Other amounts payable | 47/48 | €34,078 | €19,682 | -€14,397 | -42.2% |
| Accrued charges and deferred income | 492/3 | €499 | €400 | -€99 | -19.8% |
| Non-recurring operating income | 76A | €1,550 | €0 | -€1,550 | -100.0% |
| Remuneration, social security and pensions | 62 | €229,044 | €367,380 | +€138,336 | +60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,532 | €31,870 | -€8,662 | -21.4% |
| Other operating charges | 640/8 | €564 | €4,805 | +€4,241 | +752.0% |
| Non-recurring operating charges | 66A | - | €2,822 | +€2,822 | |
| Gross operating margin | 9900 | €328,112 | €399,100 | +€70,988 | +21.6% |
| Operating profit (loss) | 9901 | €57,972 | -€7,777 | -€65,749 | |
| Financial income | 75/76B | €223 | €16 | -€207 | -92.9% |
| Recurring financial income | 75 | €223 | €16 | -€207 | -92.9% |
| Financial charges | 65/66B | €4,288 | €4,244 | -€44 | -1.0% |
| Recurring financial charges | 65 | €4,288 | €4,244 | -€44 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €53,907 | -€12,005 | -€65,912 | |
| Income taxes | 67/77 | €14,299 | €2,632 | -€11,667 | -81.6% |
| Profit (loss) for the period | 9904 | €39,608 | -€14,637 | -€54,245 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,608 | -€14,637 | -€54,245 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.