CLIPEX: 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.
What changed
CLIPEX
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€10,184
2024 · €657,425-€667,609
Equity
€1.3m
2024 · €1.3m-€10,184
Cash
€361,244
2024 · €357,601+€3,643
Balance sheet total
€1.7m
2024 · €1.7m-€16,944
Largest movements
Assets
- Tangible fixed assets -€18,181
down €18,181 (-1.4%), from €1.3m to €1.3m
of which Land and buildings: -€26,921
Equity and liabilities
- Reserves -€25,893
down €25,893 (-2.1%), from €1.2m to €1.2m
of which Tax-exempt reserves: -€25,893
Income statement
- Gross operating margin -€874,189
down €874,189 (-97.0%), from €901,106 to €26,917
- Depreciation +€21,008
up €21,008 (+101.5%), from €20,695 to €41,704
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.
Result 2024
€657,425
Gross operating margin
-€874,189
Depreciation
-€21,008
Other operating charges
-€1,589
Financial income
+€528
Financial charges
+€26
Deferred taxes and other
+€228,625
Result 2025
-€10,184
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.
From operations
+€27,166
Investment
-€23,522
Financing
€0
Cash 2024
€357,601
From operations (derived)
+€27,166
Net result for the year
-€10,184
Depreciation
+€41,704
Receivables within one year
+€2,411
Deferred charges and accrued income
-€5
Provisions
-€8,631
Other debts
+€1,871
Investment (derived)
-€23,522
Investment in fixed assets (net)
-€23,522
Cash 2025
€361,244
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,686,295 | €1,669,350 | -€16,944 | -1.0% |
| Fixed assets | 21/28 | €1,315,002 | €1,296,821 | -€18,181 | -1.4% |
| Tangible fixed assets | 22/27 | €1,314,878 | €1,296,697 | -€18,181 | -1.4% |
| Land and buildings | 22 | €1,312,716 | €1,285,795 | -€26,921 | -2.1% |
| Plant, machinery and equipment | 23 | €2,162 | €1,662 | -€500 | -23.1% |
| Furniture and vehicles | 24 | - | €9,239 | +€9,239 | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €371,293 | €372,530 | +€1,237 | +0.3% |
| Amounts receivable within one year | 40/41 | €13,599 | €11,188 | -€2,411 | -17.7% |
| Trade receivables | 40 | - | €333 | +€333 | |
| Other amounts receivable | 41 | €13,599 | €10,855 | -€2,744 | -20.2% |
| Cash at bank and in hand | 54/58 | €357,601 | €361,244 | +€3,643 | +1.0% |
| Deferred charges and accrued income | 490/1 | €93 | €98 | +€5 | +4.9% |
| Total equity and liabilities | 10/49 | €1,686,295 | €1,669,350 | -€16,944 | -1.0% |
| Equity | 10/15 | €1,274,609 | €1,264,426 | -€10,184 | -0.8% |
| Contributions | 10/11 | €357,689 | €357,689 | = | 0.0% |
| Capital | 10 | €264,676 | €264,676 | = | 0.0% |
| Issued capital | 100 | €264,676 | €264,676 | = | 0.0% |
| Outside capital | 11 | €93,013 | €93,013 | = | 0.0% |
| Share premium | 1100/10 | €93,013 | €93,013 | = | 0.0% |
| Reserves | 13 | €1,249,869 | €1,223,976 | -€25,893 | -2.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,233,136 | €1,207,243 | -€25,893 | -2.1% |
| Distributable reserves | 133 | €14,874 | €14,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€332,949 | -€317,240 | +€15,709 | +4.7% |
| Provisions and deferred taxes | 16 | €411,045 | €402,414 | -€8,631 | -2.1% |
| Deferred taxes | 168 | €411,045 | €402,414 | -€8,631 | -2.1% |
| Amounts payable | 17/49 | €640 | €2,511 | +€1,871 | +292.3% |
| Amounts payable within one year | 42/48 | €640 | €2,511 | +€1,871 | +292.3% |
| Other amounts payable | 47/48 | €640 | €2,511 | +€1,871 | +292.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,695 | €41,704 | +€21,008 | +101.5% |
| Other operating charges | 640/8 | €3,286 | €4,875 | +€1,589 | +48.4% |
| Gross operating margin | 9900 | €901,106 | €26,917 | -€874,189 | -97.0% |
| Operating profit (loss) | 9901 | €877,125 | -€19,662 | -€896,787 | |
| Financial income | 75/76B | €721 | €1,249 | +€528 | +73.2% |
| Recurring financial income | 75 | €721 | €1,249 | +€528 | +73.2% |
| Financial charges | 65/66B | €427 | €402 | -€26 | -6.0% |
| Recurring financial charges | 65 | €427 | €402 | -€26 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €877,419 | -€18,815 | -€896,234 | |
| Transfer from deferred taxes | 780 | €4,032 | €8,631 | +€4,600 | +114.1% |
| Transfer to deferred taxes | 680 | €224,025 | - | -€224,025 | |
| Profit (loss) for the period | 9904 | €657,425 | -€10,184 | -€667,609 | |
| Transfer from tax-exempt reserves | 789 | €12,095 | €25,893 | +€13,798 | +114.1% |
| Transfer to tax-exempt reserves | 689 | €672,076 | - | -€672,076 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,556 | €15,709 | +€18,265 |
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 8 October 2026 via checked.be.