CLERFAYT EXPERTISES: 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.
CLERFAYT EXPERTISES
Largest movements
- Current investments -€175,000
down €175,000 (-64.1%), from €272,861 to €97,861
- Cash -€30,319
down €30,319 (-35.4%), from €85,695 to €55,376
mainly Debts after one year (-€208,862) and Investment in fixed assets (net) (-€29,222)
- Tangible fixed assets -€10,360
down €10,360 (-1.9%), from €536,996 to €526,636
of which Land and buildings: -€21,481
- Debts after one year -€208,862
down €208,862 (-94.8%), from €220,329 to €11,467
- Gross operating margin +€9,779
up €9,779 (+19.2%), from €51,004 to €60,783
- Depreciation +€4,779
up €4,779 (+13.7%), from €34,803 to €39,583
- Financial charges +€1,786
up €1,786 (+32.7%), from €5,456 to €7,242
- Taxes +€1,396
up €1,396 (+16.1%), from €8,696 to €10,092
- Financial income +€798
up €798 (+679%), from €117 to €915
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 | €908,098 | €695,820 | -€212,278 | -23.4% |
| Fixed assets | 21/28 | €537,441 | €527,080 | -€10,360 | -1.9% |
| Tangible fixed assets | 22/27 | €536,996 | €526,636 | -€10,360 | -1.9% |
| Land and buildings | 22 | €501,968 | €480,487 | -€21,481 | -4.3% |
| Furniture and vehicles | 24 | €35,028 | €46,149 | +€11,121 | +31.7% |
| Financial fixed assets | 28 | €444 | €444 | = | 0.0% |
| Current assets | 29/58 | €370,657 | €168,740 | -€201,918 | -54.5% |
| Amounts receivable within one year | 40/41 | €10,136 | €14,178 | +€4,042 | +39.9% |
| Trade receivables | 40 | €8,361 | €14,129 | +€5,768 | +69.0% |
| Other amounts receivable | 41 | €1,775 | €49 | -€1,726 | -97.2% |
| Current investments | 50/53 | €272,861 | €97,861 | -€175,000 | -64.1% |
| Cash at bank and in hand | 54/58 | €85,695 | €55,376 | -€30,319 | -35.4% |
| Deferred charges and accrued income | 490/1 | €1,965 | €1,324 | -€641 | -32.6% |
| Total equity and liabilities | 10/49 | €908,098 | €695,820 | -€212,278 | -23.4% |
| Equity | 10/15 | €526,821 | €532,823 | +€6,002 | +1.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €501,438 | €507,823 | +€6,386 | +1.3% |
| Tax-exempt reserves | 132 | €269,419 | €255,551 | -€13,869 | -5.1% |
| Distributable reserves | 133 | €232,018 | €252,273 | +€20,254 | +8.7% |
| Profit (loss) carried forward | 14 | €383 | €0 | -€383 | -100% |
| Provisions and deferred taxes | 16 | €115,465 | €109,522 | -€5,944 | -5.1% |
| Deferred taxes | 168 | €115,465 | €109,522 | -€5,944 | -5.1% |
| Amounts payable | 17/49 | €265,812 | €53,475 | -€212,337 | -79.9% |
| Amounts payable after more than one year | 17 | €220,329 | €11,467 | -€208,862 | -94.8% |
| Financial debts | 170/4 | €220,329 | €11,467 | -€208,862 | -94.8% |
| Amounts payable within one year | 42/48 | €43,361 | €40,853 | -€2,508 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €11,082 | €8,862 | -€2,220 | -20.0% |
| Trade debts | 44 | €4,028 | €7,465 | +€3,437 | +85.3% |
| Suppliers | 440/4 | €4,028 | €7,465 | +€3,437 | +85.3% |
| Taxes, remuneration and social security | 45 | €6,314 | €10,538 | +€4,224 | +66.9% |
| Taxes | 450/3 | €6,314 | €10,538 | +€4,224 | +66.9% |
| Other amounts payable | 47/48 | €21,938 | €13,988 | -€7,949 | -36.2% |
| Accrued charges and deferred income | 492/3 | €2,123 | €1,155 | -€968 | -45.6% |
| Non-recurring operating income | 76A | €2,500 | €0 | -€2,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,803 | €39,583 | +€4,779 | +13.7% |
| Other operating charges | 640/8 | €4,760 | €4,722 | -€38 | -0.8% |
| Gross operating margin | 9900 | €51,004 | €60,783 | +€9,779 | +19.2% |
| Operating profit (loss) | 9901 | €11,441 | €16,478 | +€5,037 | +44.0% |
| Financial income | 75/76B | €117 | €915 | +€798 | +679% |
| Recurring financial income | 75 | €117 | €915 | +€798 | +679% |
| Financial charges | 65/66B | €5,456 | €7,242 | +€1,786 | +32.7% |
| Recurring financial charges | 65 | €5,456 | €7,242 | +€1,786 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | €6,102 | €10,151 | +€4,049 | +66.4% |
| Transfer from deferred taxes | 780 | €13,869 | €13,869 | = | 0.0% |
| Income taxes | 67/77 | €8,696 | €10,092 | +€1,396 | +16.1% |
| Profit (loss) for the period | 9904 | €11,275 | €13,927 | +€2,653 | +23.5% |
| Transfer from tax-exempt reserves | 789 | €5,944 | €5,944 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,218 | €19,871 | +€2,653 | +15.4% |
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 31 October 2026 via checked.be.