Clever Square: 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 Square
Largest movements
- Stocks and contracts +€235,550
up €235,550 (+24.9%), from €947,803 to €1.2m
- Receivables within one year +€76,543
up €76,543 (+25.0%), from €305,967 to €382,510
of which Other amounts receivable: +€67,359
- Cash +€22,053
up €22,053 (+215.4%), from €10,237 to €32,290
mainly Trade debts (+€276,229) and Debts after one year (+€200,000)
- Trade debts +€276,229
up €276,229 (+29.6%), from €931,923 to €1.2m
- Debts after one year +€200,000
new in 2025: €200,000
- Profit (loss) carried forward -€51,178
down €51,178, from €35,934 to -€15,244
- Tax, wage and social debts -€48,113
down €48,113 (-29.3%), from €164,299 to €116,187
of which Taxes: -€54,604
- Other debts -€43,942
down €43,942 (-34.3%), from €128,000 to €84,058
- Gross operating margin -€67,801
down €67,801, from €55,656 to -€12,146
- Taxes -€5,095
down €5,095, from €4,739 to -€356
- Depreciation +€1,150
new in 2025: €1,150
- Financial charges +€735
up €735 (+198.9%), from €370 to €1,105
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 | €1,265,157 | €1,598,153 | +€332,996 | +26.3% |
| Formation expenses | 20 | €1,150 | - | -€1,150 | |
| Current assets | 29/58 | €1,264,007 | €1,598,153 | +€334,146 | +26.4% |
| Stocks and contracts in progress | 3 | €947,803 | €1,183,353 | +€235,550 | +24.9% |
| Stocks | 30/36 | €947,803 | €1,183,353 | +€235,550 | +24.9% |
| Amounts receivable within one year | 40/41 | €305,967 | €382,510 | +€76,543 | +25.0% |
| Trade receivables | 40 | €286,359 | €295,544 | +€9,185 | +3.2% |
| Other amounts receivable | 41 | €19,608 | €86,966 | +€67,359 | +343.5% |
| Cash at bank and in hand | 54/58 | €10,237 | €32,290 | +€22,053 | +215.4% |
| Total equity and liabilities | 10/49 | €1,265,157 | €1,598,153 | +€332,996 | +26.3% |
| Equity | 10/15 | €40,934 | -€10,244 | -€51,178 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €2,500 | €2,500 | = | 0.0% |
| Issued capital | 100 | €2,500 | €2,500 | = | 0.0% |
| Contributions outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,934 | -€15,244 | -€51,178 | |
| Amounts payable | 17/49 | €1,224,223 | €1,608,397 | +€384,174 | +31.4% |
| Amounts payable after more than one year | 17 | - | €200,000 | +€200,000 | |
| Other amounts payable | 178/9 | - | €200,000 | +€200,000 | |
| Amounts payable within one year | 42/48 | €1,224,223 | €1,408,397 | +€184,174 | +15.0% |
| Trade debts | 44 | €931,923 | €1,208,152 | +€276,229 | +29.6% |
| Suppliers | 440/4 | €931,923 | €1,208,152 | +€276,229 | +29.6% |
| Taxes, remuneration and social security | 45 | €164,299 | €116,187 | -€48,113 | -29.3% |
| Taxes | 450/3 | €115,436 | €60,832 | -€54,604 | -47.3% |
| Remuneration and social security | 454/9 | €48,863 | €55,354 | +€6,491 | +13.3% |
| Other amounts payable | 47/48 | €128,000 | €84,058 | -€43,942 | -34.3% |
| Remuneration, social security and pensions | 62 | €36,162 | €36,513 | +€351 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,150 | +€1,150 | |
| Other operating charges | 640/8 | €718 | €1,051 | +€332 | +46.3% |
| Gross operating margin | 9900 | €55,656 | -€12,146 | -€67,801 | |
| Operating profit (loss) | 9901 | €18,775 | -€50,859 | -€69,634 | |
| Financial charges | 65/66B | €370 | €1,105 | +€735 | +198.9% |
| Recurring financial charges | 65 | €370 | €1,105 | +€735 | +198.9% |
| Profit (loss) for the period before taxes | 9903 | €18,406 | -€51,964 | -€70,369 | |
| Income taxes | 67/77 | €4,739 | -€356 | -€5,095 | |
| Profit (loss) for the period | 9904 | €13,667 | -€51,608 | -€65,275 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,667 | -€51,608 | -€65,275 |
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.