CLIMBEX: 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.
CLIMBEX
Largest movements
- Receivables within one year +€189,966
up €189,966 (+128.3%), from €148,057 to €338,023
of which Trade receivables: +€191,413
- Cash -€80,654
down €80,654 (-65.5%), from €123,064 to €42,410
mainly Receivables within one year (-€189,966) and Contributions, distributions and other (-€95,625)
- Tangible fixed assets +€15,911
up €15,911 (+166.3%), from €9,566 to €25,478
- Tax, wage and social debts +€58,740
up €58,740 (+70.3%), from €83,551 to €142,291
of which Remuneration and social security: +€48,890
- Short-term financial debts +€40,000
new in 2025: €40,000
- Other debts +€30,175
up €30,175 (+45.9%), from €65,715 to €95,890
- Reserves -€25,798
down €25,798 (-43.8%), from €58,839 to €33,042
- Current portion of long-term debt +€17,966
up €17,966 (+35.8%), from €50,154 to €68,120
- Gross operating margin -€78,470
down €78,470 (-8.7%), from €905,965 to €827,495
- Taxes -€18,454
down €18,454 (-49.5%), from €37,310 to €18,856
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 | €291,277 | €417,729 | +€126,451 | +43.4% |
| Fixed assets | 21/28 | €9,566 | €25,478 | +€15,911 | +166.3% |
| Tangible fixed assets | 22/27 | €9,566 | €25,478 | +€15,911 | +166.3% |
| Furniture and vehicles | 24 | €9,566 | €25,478 | +€15,911 | +166.3% |
| Current assets | 29/58 | €281,711 | €392,251 | +€110,540 | +39.2% |
| Amounts receivable within one year | 40/41 | €148,057 | €338,023 | +€189,966 | +128.3% |
| Trade receivables | 40 | €127,601 | €319,014 | +€191,413 | +150.0% |
| Other amounts receivable | 41 | €20,456 | €19,009 | -€1,447 | -7.1% |
| Cash at bank and in hand | 54/58 | €123,064 | €42,410 | -€80,654 | -65.5% |
| Deferred charges and accrued income | 490/1 | €10,591 | €11,818 | +€1,228 | +11.6% |
| Total equity and liabilities | 10/49 | €291,277 | €417,729 | +€126,451 | +43.4% |
| Equity | 10/15 | €70,839 | €45,042 | -€25,798 | -36.4% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €58,839 | €33,042 | -€25,798 | -43.8% |
| Distributable reserves | 133 | €58,839 | €33,042 | -€25,798 | -43.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €220,438 | €372,687 | +€152,249 | +69.1% |
| Amounts payable after more than one year | 17 | - | €6,670 | +€6,670 | |
| Financial debts | 170/4 | - | €6,670 | +€6,670 | |
| Amounts payable within one year | 42/48 | €220,438 | €365,792 | +€145,354 | +65.9% |
| Current portion of amounts payable after more than one year | 42 | €50,154 | €68,120 | +€17,966 | +35.8% |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Credit institutions | 430/8 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €21,018 | €19,490 | -€1,528 | -7.3% |
| Suppliers | 440/4 | €21,018 | €19,490 | -€1,528 | -7.3% |
| Taxes, remuneration and social security | 45 | €83,551 | €142,291 | +€58,740 | +70.3% |
| Taxes | 450/3 | €11,589 | €21,439 | +€9,850 | +85.0% |
| Remuneration and social security | 454/9 | €71,962 | €120,852 | +€48,890 | +67.9% |
| Other amounts payable | 47/48 | €65,715 | €95,890 | +€30,175 | +45.9% |
| Accrued charges and deferred income | 492/3 | - | €225 | +€225 | |
| Remuneration, social security and pensions | 62 | €736,645 | €729,307 | -€7,338 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,977 | €4,584 | +€1,606 | +53.9% |
| Other operating charges | 640/8 | €1,315 | €1,205 | -€110 | -8.4% |
| Gross operating margin | 9900 | €905,965 | €827,495 | -€78,470 | -8.7% |
| Operating profit (loss) | 9901 | €165,027 | €92,399 | -€72,628 | -44.0% |
| Financial income | 75/76B | €599 | €27 | -€572 | -95.4% |
| Recurring financial income | 75 | €599 | €27 | -€572 | -95.4% |
| Financial charges | 65/66B | €3,762 | €3,742 | -€19 | -0.5% |
| Recurring financial charges | 65 | €3,762 | €3,742 | -€19 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €161,865 | €88,684 | -€73,181 | -45.2% |
| Income taxes | 67/77 | €37,310 | €18,856 | -€18,454 | -49.5% |
| Profit (loss) for the period | 9904 | €124,554 | €69,827 | -€54,727 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €124,554 | €69,827 | -€54,727 | -43.9% |
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.