CLIMMAX: 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.
CLIMMAX
Largest movements
- Receivables within one year +€90,822
up €90,822 (+1,052%), from €8,636 to €99,458
of which Trade receivables: +€83,057
- Current investments +€81,744
up €81,744 (+133%), from €61,581 to €143,324
- Tangible fixed assets -€7,500
down €7,500 (-32.3%), from €23,241 to €15,741
- Trade debts +€87,985
up €87,985 (+1,407%), from €6,252 to €94,237
- Reserves +€34,520
new in 2025: €34,520
- Tax, wage and social debts +€26,606
up €26,606 (+277%), from €9,606 to €36,213
of which Remuneration and social security: +€36,213
- Other debts +€16,006
up €16,006 (+39.9%), from €40,160 to €56,167
- Gross operating margin +€4,829
up €4,829 (+8.9%), from €54,059 to €58,888
- Taxes +€3,485
up €3,485 (+36.3%), from €9,608 to €13,093
- Financial charges +€2,955
up €2,955 (+2,456%), from €120 to €3,075
- Depreciation +€741
up €741 (+11.0%), from €6,759 to €7,500
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,256 | €258,541 | +€164,285 | +174% |
| Fixed assets | 21/28 | €23,241 | €15,741 | -€7,500 | -32.3% |
| Tangible fixed assets | 22/27 | €23,241 | €15,741 | -€7,500 | -32.3% |
| Furniture and vehicles | 24 | €23,241 | €15,741 | -€7,500 | -32.3% |
| Current assets | 29/58 | €71,015 | €242,800 | +€171,785 | +242% |
| Amounts receivable within one year | 40/41 | €8,636 | €99,458 | +€90,822 | +1,052% |
| Trade receivables | 40 | €7,887 | €90,944 | +€83,057 | +1,053% |
| Other amounts receivable | 41 | €749 | €8,514 | +€7,765 | +1,037% |
| Current investments | 50/53 | €61,581 | €143,324 | +€81,744 | +133% |
| Deferred charges and accrued income | 490/1 | €798 | €18 | -€780 | -97.8% |
| Total equity and liabilities | 10/49 | €94,256 | €258,541 | +€164,285 | +174% |
| Equity | 10/15 | €38,238 | €71,925 | +€33,687 | +88.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €34,520 | +€34,520 | |
| Distributable reserves | 133 | - | €34,520 | +€34,520 | |
| Profit (loss) carried forward | 14 | €36,238 | €35,405 | -€833 | -2.3% |
| Amounts payable | 17/49 | €56,018 | €186,616 | +€130,598 | +233% |
| Amounts payable within one year | 42/48 | €56,018 | €186,616 | +€130,598 | +233% |
| Trade debts | 44 | €6,252 | €94,237 | +€87,985 | +1,407% |
| Suppliers | 440/4 | €6,252 | €94,237 | +€87,985 | +1,407% |
| Taxes, remuneration and social security | 45 | €9,606 | €36,213 | +€26,606 | +277% |
| Taxes | 450/3 | €9,606 | - | -€9,606 | |
| Remuneration and social security | 454/9 | - | €36,213 | +€36,213 | |
| Other amounts payable | 47/48 | €40,160 | €56,167 | +€16,006 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,759 | €7,500 | +€741 | +11.0% |
| Other operating charges | 640/8 | €500 | €700 | +€199 | +39.8% |
| Gross operating margin | 9900 | €54,059 | €58,888 | +€4,829 | +8.9% |
| Operating profit (loss) | 9901 | €46,799 | €50,689 | +€3,890 | +8.3% |
| Financial charges | 65/66B | €120 | €3,075 | +€2,955 | +2,456% |
| Recurring financial charges | 65 | €120 | €3,075 | +€2,955 | +2,456% |
| Profit (loss) for the period before taxes | 9903 | €46,679 | €47,613 | +€935 | +2.0% |
| Income taxes | 67/77 | €9,608 | €13,093 | +€3,485 | +36.3% |
| Profit (loss) for the period | 9904 | €37,071 | €34,520 | -€2,551 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,071 | €34,520 | -€2,551 | -6.9% |
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 15 October 2026 via checked.be.