CLIVER: 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.
CLIVER
Largest movements
- Current investments -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Cash +€224,814
up €224,814 (+498.9%), from €45,064 to €269,878
mainly Current investments (+€250,000) and Net result for the year (+€27,744)
- Tangible fixed assets +€39,868
up €39,868 (+14.0%), from €285,217 to €325,086
of which Assets under construction and advance payments: +€45,042
- Debts after one year +€10,478
up €10,478 (+4.8%), from €218,657 to €229,134
- Tax, wage and social debts +€9,037
up €9,037 (+33.1%), from €27,276 to €36,313
of which Taxes: +€5,637
- Gross operating margin -€88,298
down €88,298 (-56.8%), from €155,576 to €67,277
- Taxes -€67,420
down €67,420 (-84.4%), from €79,915 to €12,496
- Other operating charges +€6,359
up €6,359 (+87.9%), from €7,238 to €13,597
- Depreciation -€4,408
down €4,408 (-33.7%), from €13,093 to €8,685
- Financial income -€3,732
down €3,732 (-53.6%), from €6,964 to €3,232
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 | €606,262 | €618,080 | +€11,819 | +1.9% |
| Fixed assets | 21/28 | €285,217 | €325,086 | +€39,868 | +14.0% |
| Tangible fixed assets | 22/27 | €285,217 | €325,086 | +€39,868 | +14.0% |
| Land and buildings | 22 | €270,135 | €262,396 | -€7,738 | -2.9% |
| Furniture and vehicles | 24 | €1,852 | €4,416 | +€2,565 | +138.5% |
| Assets under construction and advance payments | 27 | €13,231 | €58,273 | +€45,042 | +340.4% |
| Current assets | 29/58 | €321,044 | €292,995 | -€28,050 | -8.7% |
| Amounts receivable within one year | 40/41 | €21,472 | €20,997 | -€474 | -2.2% |
| Trade receivables | 40 | €11,644 | €17,082 | +€5,438 | +46.7% |
| Other amounts receivable | 41 | €9,827 | €3,915 | -€5,912 | -60.2% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €45,064 | €269,878 | +€224,814 | +498.9% |
| Deferred charges and accrued income | 490/1 | €4,509 | €2,119 | -€2,389 | -53.0% |
| Total equity and liabilities | 10/49 | €606,262 | €618,080 | +€11,819 | +1.9% |
| Equity | 10/15 | €337,381 | €332,034 | -€5,346 | -1.6% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €247,375 | €242,025 | -€5,350 | -2.2% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €247,375 | €242,025 | -€5,350 | -2.2% |
| Profit (loss) carried forward | 14 | €6 | €9 | +€4 | +64.8% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €268,881 | €286,046 | +€17,165 | +6.4% |
| Amounts payable after more than one year | 17 | €218,657 | €229,134 | +€10,478 | +4.8% |
| Financial debts | 170/4 | €218,657 | €229,134 | +€10,478 | +4.8% |
| Amounts payable within one year | 42/48 | €50,225 | €56,912 | +€6,687 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €19,140 | €19,365 | +€224 | +1.2% |
| Trade debts | 44 | €2,759 | €836 | -€1,923 | -69.7% |
| Suppliers | 440/4 | €2,759 | €836 | -€1,923 | -69.7% |
| Taxes, remuneration and social security | 45 | €27,276 | €36,313 | +€9,037 | +33.1% |
| Taxes | 450/3 | €27,276 | €32,913 | +€5,637 | +20.7% |
| Remuneration and social security | 454/9 | - | €3,400 | +€3,400 | |
| Other amounts payable | 47/48 | €1,049 | €399 | -€651 | -62.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €103,287 | €0 | -€103,287 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,093 | €8,685 | -€4,408 | -33.7% |
| Other operating charges | 640/8 | €7,238 | €13,597 | +€6,359 | +87.9% |
| Gross operating margin | 9900 | €155,576 | €67,277 | -€88,298 | -56.8% |
| Operating profit (loss) | 9901 | €135,245 | €44,995 | -€90,250 | -66.7% |
| Financial income | 75/76B | €6,964 | €3,232 | -€3,732 | -53.6% |
| Recurring financial income | 75 | €6,964 | €3,232 | -€3,732 | -53.6% |
| Financial charges | 65/66B | €6,553 | €7,988 | +€1,434 | +21.9% |
| Recurring financial charges | 65 | €6,553 | €7,988 | +€1,434 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €135,656 | €40,239 | -€95,417 | -70.3% |
| Transfer from deferred taxes | 780 | €24,777 | €0 | -€24,777 | -100.0% |
| Income taxes | 67/77 | €79,915 | €12,496 | -€67,420 | -84.4% |
| Profit (loss) for the period | 9904 | €80,517 | €27,744 | -€52,774 | -65.5% |
| Transfer from tax-exempt reserves | 789 | €99,108 | €0 | -€99,108 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €179,625 | €27,744 | -€151,882 | -84.6% |
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 2 October 2026 via checked.be.