CLIMATH: 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.
CLIMATH
Largest movements
- Receivables within one year +€49,764
up €49,764 (+73.6%), from €67,574 to €117,338
of which Trade receivables: +€61,496
- Cash -€30,328
down €30,328 (-26.9%), from €112,772 to €82,444
mainly Receivables within one year (-€49,764) and Investment in fixed assets (net) (-€39,056)
- Stocks and contracts -€23,107
down €23,107 (-39.2%), from €59,015 to €35,908
- Tangible fixed assets +€15,878
up €15,878 (+25.8%), from €61,466 to €77,345
of which Furniture and vehicles: +€17,871
- Deferred charges and accrued income +€3,574
up €3,574 (+812.3%), from €440 to €4,014
- Short-term financial debts -€20,000
down €20,000 (-50.0%), from €40,000 to €20,000
- Other debts +€17,386
up €17,386 (+30.3%), from €57,423 to €74,809
- Debts after one year +€10,334
up €10,334 (+40.6%), from €25,465 to €35,800
- Reserves -€7,000
down €7,000 (-8.9%), from €78,460 to €71,460
of which Distributable reserves: -€7,000
- Current portion of long-term debt +€6,151
up €6,151 (+62.4%), from €9,858 to €16,008
- Gross operating margin +€12,497
up €12,497 (+38.4%), from €32,577 to €45,074
- Depreciation +€11,358
up €11,358 (+96.1%), from €11,819 to €23,177
- Other operating charges +€843
up €843 (+84.5%), from €997 to €1,840
- Financial income -€557
down €557 (-15.3%), from €3,646 to €3,089
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 | €301,267 | €317,049 | +€15,782 | +5.2% |
| Fixed assets | 21/28 | €61,466 | €77,345 | +€15,878 | +25.8% |
| Tangible fixed assets | 22/27 | €61,466 | €77,345 | +€15,878 | +25.8% |
| Land and buildings | 22 | €3,560 | €3,143 | -€417 | -11.7% |
| Plant, machinery and equipment | 23 | €15,998 | €14,423 | -€1,576 | -9.8% |
| Furniture and vehicles | 24 | €41,908 | €59,779 | +€17,871 | +42.6% |
| Current assets | 29/58 | €239,801 | €239,704 | -€96 | 0.0% |
| Stocks and contracts in progress | 3 | €59,015 | €35,908 | -€23,107 | -39.2% |
| Stocks | 30/36 | €59,015 | €35,908 | -€23,107 | -39.2% |
| Amounts receivable within one year | 40/41 | €67,574 | €117,338 | +€49,764 | +73.6% |
| Trade receivables | 40 | €55,670 | €117,165 | +€61,496 | +110.5% |
| Other amounts receivable | 41 | €11,904 | €173 | -€11,732 | -98.5% |
| Cash at bank and in hand | 54/58 | €112,772 | €82,444 | -€30,328 | -26.9% |
| Deferred charges and accrued income | 490/1 | €440 | €4,014 | +€3,574 | +812.3% |
| Total equity and liabilities | 10/49 | €301,267 | €317,049 | +€15,782 | +5.2% |
| Equity | 10/15 | €143,885 | €136,932 | -€6,953 | -4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €78,460 | €71,460 | -€7,000 | -8.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,600 | €69,600 | -€7,000 | -9.1% |
| Profit (loss) carried forward | 14 | €59,225 | €59,272 | +€47 | +0.1% |
| Amounts payable | 17/49 | €157,382 | €180,117 | +€22,735 | +14.4% |
| Amounts payable after more than one year | 17 | €25,465 | €35,800 | +€10,334 | +40.6% |
| Financial debts | 170/4 | €25,465 | €35,800 | +€10,334 | +40.6% |
| Amounts payable within one year | 42/48 | €131,917 | €144,318 | +€12,401 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €9,858 | €16,008 | +€6,151 | +62.4% |
| Financial debts | 43 | €40,000 | €20,000 | -€20,000 | -50.0% |
| Credit institutions | 430/8 | €40,000 | €20,000 | -€20,000 | -50.0% |
| Trade debts | 44 | €19,124 | €24,505 | +€5,380 | +28.1% |
| Suppliers | 440/4 | €19,124 | €24,505 | +€5,380 | +28.1% |
| Taxes, remuneration and social security | 45 | €5,511 | €8,995 | +€3,484 | +63.2% |
| Taxes | 450/3 | €5,511 | €7,495 | +€1,984 | +36.0% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €57,423 | €74,809 | +€17,386 | +30.3% |
| Remuneration, social security and pensions | 62 | €411 | - | -€411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,819 | €23,177 | +€11,358 | +96.1% |
| Other operating charges | 640/8 | €997 | €1,840 | +€843 | +84.5% |
| Non-recurring operating charges | 66A | - | €1,199 | +€1,199 | |
| Gross operating margin | 9900 | €32,577 | €45,074 | +€12,497 | +38.4% |
| Operating profit (loss) | 9901 | €19,349 | €18,857 | -€492 | -2.5% |
| Financial income | 75/76B | €3,646 | €3,089 | -€557 | -15.3% |
| Recurring financial income | 75 | €3,646 | €3,089 | -€557 | -15.3% |
| Financial charges | 65/66B | €5,512 | €5,199 | -€313 | -5.7% |
| Recurring financial charges | 65 | €5,512 | €5,199 | -€313 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €17,484 | €16,747 | -€737 | -4.2% |
| Income taxes | 67/77 | €5,278 | €5,701 | +€422 | +8.0% |
| Profit (loss) for the period | 9904 | €12,206 | €11,047 | -€1,159 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,206 | €11,047 | -€1,159 | -9.5% |
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 7 October 2026 via checked.be.