CLF INVEST: what changed
What changed
CLF INVEST
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€141,102
2024 · -€709,918+€568,815
Equity
€1.9m
2024 · €2.0m-€141,102
Cash
€8.0m
2024 · €6.6m+€1.4m
Balance sheet total
€8.9m
2024 · €9.6m-€755,704
Largest movements
Assets
- Receivables within one year -€2.1m
down €2.1m (-99.3%), from €2.1m to €14,770
of which Other amounts receivable: -€2.1m
- Cash +€1.4m
up €1.4m (+21.1%), from €6.6m to €8.0m
mainly Receivables within one year (+€2.1m) and Depreciation (+€39,347)
Equity and liabilities
- Debts after one year -€483,229
down €483,229 (-8.8%), from €5.5m to €5.0m
- Reserves -€141,102
down €141,102 (-14.3%), from €985,635 to €844,532
of which Distributable reserves: -€141,102
- Tax, wage and social debts -€139,821
down €139,821 (-80.8%), from €173,097 to €33,276
of which Taxes: -€139,465
Income statement
- Gross operating margin -€738,312
down €738,312 (-97.3%), from €758,835 to €20,523
- Financial income -€595,709
down €595,709 (-92.5%), from €643,788 to €48,079
- Taxes -€64,283
down €64,283 (-99.1%), from €64,879 to €596
- Depreciation -€54,766
down €54,766 (-58.2%), from €94,113 to €39,347
- Other operating charges -€8,208
down €8,208 (-69.9%), from €11,746 to €3,538
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€709,918
Gross operating margin
-€738,312
Depreciation
+€54,766
Other operating charges
+€8,208
Other operating items
+€1.8m
Financial income
-€595,709
Financial charges
-€5,252
Taxes
+€64,283
Result 2025
-€141,102
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.9m
Investment
€0
Financing
-€483,229
Cash 2024
€6.6m
From operations (derived)
+€1.9m
Net result for the year
-€141,102
Depreciation
+€39,347
Receivables after one year
+€34,235
Receivables within one year
+€2.1m
Deferred charges and accrued income
-€825
Trade debts
-€8,523
Tax, wage and social debts
-€139,821
Other debts
+€16,971
Financing
-€483,229
Debts after one year
-€483,229
Cash 2025
€8.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,645,213 | €8,889,509 | -€755,704 | -7.8% |
| Fixed assets | 21/28 | €655,656 | €616,310 | -€39,347 | -6.0% |
| Tangible fixed assets | 22/27 | €655,656 | €616,310 | -€39,347 | -6.0% |
| Land and buildings | 22 | €579,354 | €557,829 | -€21,525 | -3.7% |
| Furniture and vehicles | 24 | €76,302 | €58,481 | -€17,822 | -23.4% |
| Current assets | 29/58 | €8,989,556 | €8,273,199 | -€716,357 | -8.0% |
| Amounts receivable after more than one year | 29 | €300,000 | €265,765 | -€34,235 | -11.4% |
| Other amounts receivable | 291 | €300,000 | €265,765 | -€34,235 | -11.4% |
| Amounts receivable within one year | 40/41 | €2,089,831 | €14,770 | -€2.1m | -99.3% |
| Trade receivables | 40 | €1,210 | €12,100 | +€10,890 | +900% |
| Other amounts receivable | 41 | €2,088,621 | €2,670 | -€2.1m | -99.9% |
| Cash at bank and in hand | 54/58 | €6,598,374 | €7,990,488 | +€1.4m | +21.1% |
| Deferred charges and accrued income | 490/1 | €1,351 | €2,176 | +€825 | +61.0% |
| Total equity and liabilities | 10/49 | €9,645,213 | €8,889,509 | -€755,704 | -7.8% |
| Equity | 10/15 | €2,035,635 | €1,894,532 | -€141,102 | -6.9% |
| Contributions | 10/11 | €1,050,000 | €1,050,000 | = | 0.0% |
| Capital | 10 | €1,050,000 | €1,050,000 | = | 0.0% |
| Issued capital | 100 | €1,050,000 | €1,050,000 | = | 0.0% |
| Reserves | 13 | €985,635 | €844,532 | -€141,102 | -14.3% |
| Non-distributable reserves | 130/1 | €105,000 | €105,000 | = | 0.0% |
| Legal reserve | 130 | €105,000 | €105,000 | = | 0.0% |
| Distributable reserves | 133 | €880,635 | €739,532 | -€141,102 | -16.0% |
| Amounts payable | 17/49 | €7,609,578 | €6,994,976 | -€614,602 | -8.1% |
| Amounts payable after more than one year | 17 | €5,480,634 | €4,997,405 | -€483,229 | -8.8% |
| Financial debts | 170/4 | €5,480,634 | €4,997,405 | -€483,229 | -8.8% |
| Amounts payable within one year | 42/48 | €2,128,945 | €1,997,572 | -€131,373 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €483,229 | €483,229 | = | 0.0% |
| Trade debts | 44 | €12,491 | €3,968 | -€8,523 | -68.2% |
| Suppliers | 440/4 | €12,491 | €3,968 | -€8,523 | -68.2% |
| Taxes, remuneration and social security | 45 | €173,097 | €33,276 | -€139,821 | -80.8% |
| Taxes | 450/3 | €169,742 | €30,277 | -€139,465 | -82.2% |
| Remuneration and social security | 454/9 | €3,355 | €2,999 | -€356 | -10.6% |
| Other amounts payable | 47/48 | €1,460,127 | €1,477,098 | +€16,971 | +1.2% |
| Non-recurring operating income | 76A | €294,500 | €49,861 | -€244,639 | -83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,113 | €39,347 | -€54,766 | -58.2% |
| Other operating charges | 640/8 | €11,746 | €3,538 | -€8,208 | -69.9% |
| Non-recurring operating charges | 66A | €1,815,065 | €34,235 | -€1.8m | -98.1% |
| Gross operating margin | 9900 | €758,835 | €20,523 | -€738,312 | -97.3% |
| Operating profit (loss) | 9901 | -€1,162,089 | -€56,596 | +€1.1m | +95.1% |
| Financial income | 75/76B | €643,788 | €48,079 | -€595,709 | -92.5% |
| Recurring financial income | 75 | €643,788 | €48,079 | -€595,709 | -92.5% |
| Financial charges | 65/66B | €126,737 | €131,989 | +€5,252 | +4.1% |
| Recurring financial charges | 65 | €126,737 | €131,989 | +€5,252 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | -€645,039 | -€140,506 | +€504,533 | +78.2% |
| Income taxes | 67/77 | €64,879 | €596 | -€64,283 | -99.1% |
| Profit (loss) for the period | 9904 | -€709,918 | -€141,102 | +€568,815 | +80.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€709,918 | -€141,102 | +€568,815 | +80.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.