CLEVER BUILD: 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.
CLEVER BUILD
Largest movements
- Stocks and contracts +€336,396
up €336,396 (+1,006%), from €33,438 to €369,834
- Receivables within one year +€198,968
up €198,968 (+45.0%), from €442,576 to €641,544
of which Trade receivables: +€193,676
- Cash -€68,893
down €68,893 (-50.1%), from €137,538 to €68,645
mainly Stocks and contracts (-€336,396) and Receivables within one year (-€198,968)
- Tangible fixed assets +€21,774
up €21,774 (+83.7%), from €26,007 to €47,781
of which Furniture and vehicles: +€19,565
- Reserves +€188,356
up €188,356 (+48.1%), from €391,525 to €579,881
of which Distributable reserves: +€188,356
- Short-term financial debts +€155,000
new in 2025: €155,000
- Tax, wage and social debts +€103,801
up €103,801 (+77.0%), from €134,726 to €238,527
- Trade debts +€44,606
up €44,606 (+35.6%), from €125,247 to €169,853
- Gross operating margin +€127,372
up €127,372 (+78.7%), from €161,805 to €289,176
- Taxes +€27,574
up €27,574 (+64.2%), from €42,966 to €70,540
- Other operating charges +€16,157
up €16,157 (+2,053%), from €787 to €16,944
- Financial charges +€8,334
up €8,334 (+144%), from €5,778 to €14,111
- Financial income +€4,419
up €4,419 (+150%), from €2,941 to €7,360
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 | €690,120 | €1,177,820 | +€487,701 | +70.7% |
| Fixed assets | 21/28 | €26,007 | €47,781 | +€21,774 | +83.7% |
| Tangible fixed assets | 22/27 | €26,007 | €47,781 | +€21,774 | +83.7% |
| Furniture and vehicles | 24 | €2,106 | €21,671 | +€19,565 | +929% |
| Other tangible fixed assets | 26 | €23,901 | €26,110 | +€2,209 | +9.2% |
| Current assets | 29/58 | €664,112 | €1,130,039 | +€465,927 | +70.2% |
| Amounts receivable after more than one year | 29 | €43,000 | €43,000 | = | 0.0% |
| Other amounts receivable | 291 | €43,000 | €43,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €33,438 | €369,834 | +€336,396 | +1,006% |
| Stocks | 30/36 | €33,438 | €369,834 | +€336,396 | +1,006% |
| Amounts receivable within one year | 40/41 | €442,576 | €641,544 | +€198,968 | +45.0% |
| Trade receivables | 40 | €426,748 | €620,425 | +€193,676 | +45.4% |
| Other amounts receivable | 41 | €15,827 | €21,119 | +€5,292 | +33.4% |
| Cash at bank and in hand | 54/58 | €137,538 | €68,645 | -€68,893 | -50.1% |
| Deferred charges and accrued income | 490/1 | €7,561 | €7,016 | -€545 | -7.2% |
| Total equity and liabilities | 10/49 | €690,120 | €1,177,820 | +€487,701 | +70.7% |
| Equity | 10/15 | €397,725 | €586,081 | +€188,356 | +47.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €391,525 | €579,881 | +€188,356 | +48.1% |
| Non-distributable reserves | 130/1 | €336 | €336 | = | 0.0% |
| Reserves not available under the articles | 1311 | €336 | €336 | = | 0.0% |
| Distributable reserves | 133 | €391,188 | €579,544 | +€188,356 | +48.1% |
| Amounts payable | 17/49 | €292,395 | €591,740 | +€299,345 | +102% |
| Amounts payable after more than one year | 17 | €28,051 | €24,190 | -€3,861 | -13.8% |
| Financial debts | 170/4 | €28,051 | €24,190 | -€3,861 | -13.8% |
| Amounts payable within one year | 42/48 | €264,344 | €567,242 | +€302,898 | +115% |
| Current portion of amounts payable after more than one year | 42 | €3,730 | €3,861 | +€131 | +3.5% |
| Financial debts | 43 | - | €155,000 | +€155,000 | |
| Credit institutions | 430/8 | - | €155,000 | +€155,000 | |
| Trade debts | 44 | €125,247 | €169,853 | +€44,606 | +35.6% |
| Suppliers | 440/4 | €125,247 | €169,853 | +€44,606 | +35.6% |
| Taxes, remuneration and social security | 45 | €134,726 | €238,527 | +€103,801 | +77.0% |
| Taxes | 450/3 | €134,726 | €238,527 | +€103,801 | +77.0% |
| Other amounts payable | 47/48 | €640 | €0 | -€640 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €308 | +€308 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,137 | €6,586 | +€1,449 | +28.2% |
| Other operating charges | 640/8 | €787 | €16,944 | +€16,157 | +2,053% |
| Gross operating margin | 9900 | €161,805 | €289,176 | +€127,372 | +78.7% |
| Operating profit (loss) | 9901 | €155,880 | €265,647 | +€109,767 | +70.4% |
| Financial income | 75/76B | €2,941 | €7,360 | +€4,419 | +150% |
| Recurring financial income | 75 | €2,941 | €7,360 | +€4,419 | +150% |
| Financial charges | 65/66B | €5,778 | €14,111 | +€8,334 | +144% |
| Recurring financial charges | 65 | €5,778 | €14,111 | +€8,334 | +144% |
| Profit (loss) for the period before taxes | 9903 | €153,043 | €258,896 | +€105,852 | +69.2% |
| Income taxes | 67/77 | €42,966 | €70,540 | +€27,574 | +64.2% |
| Profit (loss) for the period | 9904 | €110,077 | €188,356 | +€78,278 | +71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €110,077 | €188,356 | +€78,278 | +71.1% |
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 21 October 2026 via checked.be.