CLIM ' MAX: 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.
CLIM ' MAX
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+219.3%), from €706,335 to €2.3m
of which Leasing and similar rights: +€1.6m
- Receivables within one year +€127,065
up €127,065 (+12.8%), from €993,219 to €1.1m
of which Other amounts receivable: +€75,291
- Stocks and contracts -€77,086
down €77,086 (-76.9%), from €100,293 to €23,207
- Cash +€53,021
up €53,021 (+104.0%), from €50,958 to €103,979
mainly Debts after one year (+€1.1m) and Depreciation (+€325,467)
- Debts after one year +€1.1m
up €1.1m (+154.3%), from €706,213 to €1.8m
- Trade debts +€205,294
up €205,294 (+113.7%), from €180,618 to €385,912
- Reserves +€160,631
up €160,631 (+19.6%), from €819,918 to €980,548
- Current portion of long-term debt +€142,141
up €142,141 (+75.7%), from €187,818 to €329,959
- Tax, wage and social debts +€39,672
up €39,672 (+330.4%), from €12,007 to €51,679
of which Taxes: +€39,193
- Gross operating margin +€360,267
up €360,267 (+105.6%), from €341,089 to €701,357
- Depreciation +€155,855
up €155,855 (+91.9%), from €169,612 to €325,467
- Financial charges +€79,330
up €79,330 (+205.4%), from €38,629 to €117,959
- Write-downs -€10,650
down €10,650 (-100.0%), from €10,650 to €0
- Staff costs +€7,513
up €7,513 (+7.9%), from €95,631 to €103,145
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 | €1,925,538 | €3,563,671 | +€1.6m | +85.1% |
| Fixed assets | 21/28 | €770,311 | €2,312,795 | +€1.5m | +200.2% |
| Intangible fixed assets | 21 | €63,976 | €57,280 | -€6,696 | -10.5% |
| Tangible fixed assets | 22/27 | €706,335 | €2,255,514 | +€1.5m | +219.3% |
| Land and buildings | 22 | €413,634 | €413,154 | -€480 | -0.1% |
| Plant, machinery and equipment | 23 | €56,095 | €43,720 | -€12,375 | -22.1% |
| Furniture and vehicles | 24 | €236,606 | €164,892 | -€71,715 | -30.3% |
| Leasing and similar rights | 25 | €0 | €1,633,750 | +€1.6m | |
| Current assets | 29/58 | €1,155,227 | €1,250,876 | +€95,649 | +8.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €100,293 | €23,207 | -€77,086 | -76.9% |
| Stocks | 30/36 | €100,293 | €23,207 | -€77,086 | -76.9% |
| Amounts receivable within one year | 40/41 | €993,219 | €1,120,285 | +€127,065 | +12.8% |
| Trade receivables | 40 | €383,021 | €434,796 | +€51,774 | +13.5% |
| Other amounts receivable | 41 | €610,198 | €685,489 | +€75,291 | +12.3% |
| Cash at bank and in hand | 54/58 | €50,958 | €103,979 | +€53,021 | +104.0% |
| Deferred charges and accrued income | 490/1 | €10,757 | €3,405 | -€7,352 | -68.3% |
| Total equity and liabilities | 10/49 | €1,925,538 | €3,563,671 | +€1.6m | +85.1% |
| Equity | 10/15 | €838,518 | €999,148 | +€160,631 | +19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €819,918 | €980,548 | +€160,631 | +19.6% |
| Distributable reserves | 133 | €819,918 | €980,548 | +€160,631 | +19.6% |
| Amounts payable | 17/49 | €1,087,020 | €2,564,523 | +€1.5m | +135.9% |
| Amounts payable after more than one year | 17 | €706,213 | €1,795,975 | +€1.1m | +154.3% |
| Financial debts | 170/4 | €706,213 | €1,795,975 | +€1.1m | +154.3% |
| Amounts payable within one year | 42/48 | €380,444 | €767,549 | +€387,106 | +101.8% |
| Current portion of amounts payable after more than one year | 42 | €187,818 | €329,959 | +€142,141 | +75.7% |
| Trade debts | 44 | €180,618 | €385,912 | +€205,294 | +113.7% |
| Suppliers | 440/4 | €180,618 | €385,912 | +€205,294 | +113.7% |
| Taxes, remuneration and social security | 45 | €12,007 | €51,679 | +€39,672 | +330.4% |
| Taxes | 450/3 | €0 | €39,193 | +€39,193 | |
| Remuneration and social security | 454/9 | €12,007 | €12,486 | +€479 | +4.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €363 | €998 | +€635 | +174.9% |
| Non-recurring operating income | 76A | €38,720 | €0 | -€38,720 | -100.0% |
| Remuneration, social security and pensions | 62 | €95,631 | €103,145 | +€7,513 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,612 | €325,467 | +€155,855 | +91.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,650 | €0 | -€10,650 | -100.0% |
| Other operating charges | 640/8 | €10,549 | €9,533 | -€1,016 | -9.6% |
| Gross operating margin | 9900 | €341,089 | €701,357 | +€360,267 | +105.6% |
| Operating profit (loss) | 9901 | €54,647 | €263,211 | +€208,564 | +381.7% |
| Financial income | 75/76B | €9,182 | €15,978 | +€6,796 | +74.0% |
| Recurring financial income | 75 | €9,182 | €15,978 | +€6,796 | +74.0% |
| Financial charges | 65/66B | €38,629 | €117,959 | +€79,330 | +205.4% |
| Recurring financial charges | 65 | €38,629 | €117,959 | +€79,330 | +205.4% |
| Profit (loss) for the period before taxes | 9903 | €25,199 | €161,229 | +€136,030 | +539.8% |
| Income taxes | 67/77 | €6,627 | €599 | -€6,028 | -91.0% |
| Profit (loss) for the period | 9904 | €18,572 | €160,631 | +€142,059 | +764.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,572 | €160,631 | +€142,059 | +764.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.