CLO Management: 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.
CLO Management
Largest movements
- Cash -€113,435
down €113,435 (-53.9%), from €210,537 to €97,102
mainly Contributions, distributions and other (-€356,347) and Receivables within one year (-€7,545)
- Current investments -€48,000
down €48,000 (-96.0%), from €50,000 to €2,000
- Receivables within one year +€7,545
up €7,545 (+25.4%), from €29,693 to €37,238
of which Trade receivables: +€8,781
- Profit (loss) carried forward -€269,149
down €269,149 (-100%), from €269,149 to €0
- Other debts +€119,533
up €119,533 (+4,546%), from €2,629 to €122,162
- Gross operating margin +€2,363
up €2,363 (+2.1%), from €110,017 to €112,379
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 | €295,120 | €143,638 | -€151,483 | -51.3% |
| Fixed assets | 21/28 | €3,948 | €6,566 | +€2,618 | +66.3% |
| Tangible fixed assets | 22/27 | €3,723 | €6,341 | +€2,618 | +70.3% |
| Furniture and vehicles | 24 | €1,966 | €2,424 | +€458 | +23.3% |
| Other tangible fixed assets | 26 | €1,756 | €3,917 | +€2,160 | +123% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €291,173 | €137,072 | -€154,101 | -52.9% |
| Amounts receivable within one year | 40/41 | €29,693 | €37,238 | +€7,545 | +25.4% |
| Trade receivables | 40 | €26,813 | €35,593 | +€8,781 | +32.7% |
| Other amounts receivable | 41 | €2,880 | €1,645 | -€1,236 | -42.9% |
| Current investments | 50/53 | €50,000 | €2,000 | -€48,000 | -96.0% |
| Cash at bank and in hand | 54/58 | €210,537 | €97,102 | -€113,435 | -53.9% |
| Deferred charges and accrued income | 490/1 | €943 | €732 | -€211 | -22.4% |
| Total equity and liabilities | 10/49 | €295,120 | €143,638 | -€151,483 | -51.3% |
| Equity | 10/15 | €275,149 | €6,000 | -€269,149 | -97.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €269,149 | €0 | -€269,149 | -100% |
| Amounts payable | 17/49 | €19,971 | €137,638 | +€117,667 | +589% |
| Amounts payable within one year | 42/48 | €19,971 | €137,638 | +€117,667 | +589% |
| Financial debts | 43 | €125 | €17 | -€108 | -86.2% |
| Credit institutions | 430/8 | €125 | €17 | -€108 | -86.2% |
| Trade debts | 44 | €1,412 | €1,703 | +€291 | +20.6% |
| Suppliers | 440/4 | €1,412 | €1,703 | +€291 | +20.6% |
| Taxes, remuneration and social security | 45 | €15,804 | €13,755 | -€2,049 | -13.0% |
| Taxes | 450/3 | €11,434 | €11,385 | -€49 | -0.4% |
| Remuneration and social security | 454/9 | €4,370 | €2,370 | -€2,000 | -45.8% |
| Other amounts payable | 47/48 | €2,629 | €122,162 | +€119,533 | +4,546% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,373 | €2,429 | +€56 | +2.4% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €110,017 | €112,379 | +€2,363 | +2.1% |
| Operating profit (loss) | 9901 | €107,193 | €109,485 | +€2,292 | +2.1% |
| Financial income | 75/76B | €4,184 | €3,361 | -€822 | -19.7% |
| Recurring financial income | 75 | €4,184 | €3,361 | -€822 | -19.7% |
| Financial charges | 65/66B | €1,073 | €836 | -€237 | -22.1% |
| Recurring financial charges | 65 | €1,073 | €836 | -€237 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €110,304 | €112,011 | +€1,707 | +1.5% |
| Income taxes | 67/77 | €25,078 | €24,813 | -€265 | -1.1% |
| Profit (loss) for the period | 9904 | €85,226 | €87,198 | +€1,972 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €85,226 | €87,198 | +€1,972 | +2.3% |
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 20 October 2026 via checked.be.