CLIMB X: 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.
CLIMB X
Largest movements
- Tangible fixed assets -€118,841
down €118,841 (-5.8%), from €2.0m to €1.9m
of which Land and buildings: -€120,067
- Receivables within one year +€117,776
up €117,776 (+46.7%), from €252,251 to €370,027
of which Trade receivables: +€144,504
- Cash +€96,535
up €96,535 (+83.3%), from €115,932 to €212,467
mainly Net result for the year (+€219,737) and Trade debts (+€190,969)
- Stocks and contracts +€87,116
new in 2025: €87,116
- Reserves +€219,737
up €219,737 (+21.7%), from €1.0m to €1.2m
of which Distributable reserves: +€219,737
- Trade debts +€190,969
up €190,969 (+75.5%), from €252,946 to €443,915
- Debts after one year -€165,062
down €165,062 (-31.4%), from €525,081 to €360,019
- Tax, wage and social debts -€54,530
down €54,530 (-99.8%), from €54,657 to €127
of which Taxes: -€54,657
- Gross operating margin +€278,227
up €278,227 (+107%), from €260,385 to €538,611
- Taxes +€69,711
up €69,711 (+252%), from €27,666 to €97,378
- Staff costs +€18,989
new in 2025: €18,989
- Depreciation +€5,401
up €5,401 (+3.8%), from €143,566 to €148,967
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 | €2,414,478 | €2,598,241 | +€183,763 | +7.6% |
| Fixed assets | 21/28 | €2,046,295 | €1,927,738 | -€118,557 | -5.8% |
| Tangible fixed assets | 22/27 | €2,046,245 | €1,927,405 | -€118,841 | -5.8% |
| Land and buildings | 22 | €1,933,957 | €1,813,890 | -€120,067 | -6.2% |
| Plant, machinery and equipment | 23 | €21,451 | €19,162 | -€2,289 | -10.7% |
| Furniture and vehicles | 24 | €90,837 | €94,353 | +€3,515 | +3.9% |
| Financial fixed assets | 28 | €50 | €334 | +€284 | +567% |
| Current assets | 29/58 | €368,183 | €670,503 | +€302,320 | +82.1% |
| Stocks and contracts in progress | 3 | - | €87,116 | +€87,116 | |
| Stocks | 30/36 | - | €87,116 | +€87,116 | |
| Amounts receivable within one year | 40/41 | €252,251 | €370,027 | +€117,776 | +46.7% |
| Trade receivables | 40 | €40,473 | €184,977 | +€144,504 | +357% |
| Other amounts receivable | 41 | €211,778 | €185,050 | -€26,728 | -12.6% |
| Cash at bank and in hand | 54/58 | €115,932 | €212,467 | +€96,535 | +83.3% |
| Deferred charges and accrued income | 490/1 | - | €893 | +€893 | |
| Total equity and liabilities | 10/49 | €2,414,478 | €2,598,241 | +€183,763 | +7.6% |
| Equity | 10/15 | €1,027,238 | €1,246,975 | +€219,737 | +21.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €1,012,238 | €1,231,975 | +€219,737 | +21.7% |
| 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 | €1,010,378 | €1,230,115 | +€219,737 | +21.7% |
| Amounts payable | 17/49 | €1,387,240 | €1,351,266 | -€35,974 | -2.6% |
| Amounts payable after more than one year | 17 | €525,081 | €360,019 | -€165,062 | -31.4% |
| Financial debts | 170/4 | €525,081 | €360,019 | -€165,062 | -31.4% |
| Amounts payable within one year | 42/48 | €835,378 | €963,641 | +€128,263 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €163,099 | €165,062 | +€1,963 | +1.2% |
| Trade debts | 44 | €252,946 | €443,915 | +€190,969 | +75.5% |
| Suppliers | 440/4 | €252,946 | €443,915 | +€190,969 | +75.5% |
| Taxes, remuneration and social security | 45 | €54,657 | €127 | -€54,530 | -99.8% |
| Taxes | 450/3 | €54,657 | - | -€54,657 | |
| Remuneration and social security | 454/9 | - | €127 | +€127 | |
| Other amounts payable | 47/48 | €364,677 | €354,538 | -€10,138 | -2.8% |
| Accrued charges and deferred income | 492/3 | €26,781 | €27,605 | +€824 | +3.1% |
| Remuneration, social security and pensions | 62 | - | €18,989 | +€18,989 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,566 | €148,967 | +€5,401 | +3.8% |
| Other operating charges | 640/8 | €11,305 | €10,109 | -€1,196 | -10.6% |
| Gross operating margin | 9900 | €260,385 | €538,611 | +€278,227 | +107% |
| Operating profit (loss) | 9901 | €105,514 | €360,547 | +€255,033 | +242% |
| Financial income | 75/76B | €282 | €168 | -€115 | -40.6% |
| Recurring financial income | 75 | €282 | €168 | -€115 | -40.6% |
| Financial charges | 65/66B | €44,462 | €43,600 | -€862 | -1.9% |
| Recurring financial charges | 65 | €44,462 | €43,600 | -€862 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €61,334 | €317,115 | +€255,781 | +417% |
| Income taxes | 67/77 | €27,666 | €97,378 | +€69,711 | +252% |
| Profit (loss) for the period | 9904 | €33,668 | €219,737 | +€186,069 | +553% |
| Profit (loss) for the period to be appropriated | 9905 | €33,668 | €219,737 | +€186,069 | +553% |
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 27 October 2026 via checked.be.