CLOCKWORK: 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.
CLOCKWORK
Largest movements
- Receivables within one year +€797,956
up €797,956 (+68.0%), from €1.2m to €2.0m
of which Trade receivables: +€713,716
- Deferred charges and accrued income +€385,609
up €385,609 (+397%), from €97,124 to €482,733
- Cash +€248,712
up €248,712 (+158%), from €157,527 to €406,240
mainly Trade debts (+€666,496) and Accrued charges and deferred income (+€654,100)
- Trade debts +€666,496
up €666,496 (+70.2%), from €949,483 to €1.6m
- Accrued charges and deferred income +€654,100
up €654,100 (+1,064%), from €61,500 to €715,600
- Short-term financial debts +€135,670
up €135,670 (+137%), from €98,803 to €234,473
- Staff costs +€48,766
up €48,766 (+14.9%), from €327,381 to €376,147
- Other operating charges -€43,448
down €43,448 (-96.5%), from €45,009 to €1,560
- Financial charges +€25,863
up €25,863 (+167%), from €15,454 to €41,317
- Financial income +€25,220
up €25,220 (+35,809%), from €70 to €25,291
- Taxes -€7,050
down €7,050 (-39.4%), from €17,905 to €10,854
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 | €2,015,882 | €3,456,175 | +€1.4m | +71.4% |
| Fixed assets | 21/28 | €587,902 | €595,919 | +€8,016 | +1.4% |
| Intangible fixed assets | 21 | €7,771 | €3,885 | -€3,885 | -50.0% |
| Tangible fixed assets | 22/27 | €25,446 | €17,347 | -€8,099 | -31.8% |
| Plant, machinery and equipment | 23 | €133 | €0 | -€133 | -100% |
| Furniture and vehicles | 24 | €25,312 | €17,347 | -€7,965 | -31.5% |
| Financial fixed assets | 28 | €554,686 | €574,686 | +€20,000 | +3.6% |
| Current assets | 29/58 | €1,427,979 | €2,860,256 | +€1.4m | +100% |
| Amounts receivable within one year | 40/41 | €1,173,328 | €1,971,284 | +€797,956 | +68.0% |
| Trade receivables | 40 | €762,383 | €1,476,099 | +€713,716 | +93.6% |
| Other amounts receivable | 41 | €410,945 | €495,185 | +€84,240 | +20.5% |
| Cash at bank and in hand | 54/58 | €157,527 | €406,240 | +€248,712 | +158% |
| Deferred charges and accrued income | 490/1 | €97,124 | €482,733 | +€385,609 | +397% |
| Total equity and liabilities | 10/49 | €2,015,882 | €3,456,175 | +€1.4m | +71.4% |
| Equity | 10/15 | €385,322 | €403,473 | +€18,151 | +4.7% |
| Contributions | 10/11 | €7,845 | €7,845 | = | 0.0% |
| Reserves | 13 | €79,552 | €79,552 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €77,652 | €77,652 | = | 0.0% |
| Profit (loss) carried forward | 14 | €297,926 | €316,076 | +€18,151 | +6.1% |
| Amounts payable | 17/49 | €1,630,559 | €3,052,702 | +€1.4m | +87.2% |
| Amounts payable after more than one year | 17 | €61,363 | €35,267 | -€26,097 | -42.5% |
| Financial debts | 170/4 | €61,363 | €35,267 | -€26,097 | -42.5% |
| Amounts payable within one year | 42/48 | €1,507,696 | €2,301,835 | +€794,139 | +52.7% |
| Current portion of amounts payable after more than one year | 42 | €92,331 | €94,215 | +€1,884 | +2.0% |
| Financial debts | 43 | €98,803 | €234,473 | +€135,670 | +137% |
| Credit institutions | 430/8 | €98,803 | €234,473 | +€135,670 | +137% |
| Trade debts | 44 | €949,483 | €1,615,978 | +€666,496 | +70.2% |
| Suppliers | 440/4 | €949,483 | €1,615,978 | +€666,496 | +70.2% |
| Taxes, remuneration and social security | 45 | €71,558 | €71,132 | -€426 | -0.6% |
| Taxes | 450/3 | €22,991 | €24,745 | +€1,754 | +7.6% |
| Remuneration and social security | 454/9 | €48,567 | €46,387 | -€2,179 | -4.5% |
| Other amounts payable | 47/48 | €295,521 | €286,036 | -€9,485 | -3.2% |
| Accrued charges and deferred income | 492/3 | €61,500 | €715,600 | +€654,100 | +1,064% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €327,381 | €376,147 | +€48,766 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,852 | €11,984 | -€4,868 | -28.9% |
| Other operating charges | 640/8 | €45,009 | €1,560 | -€43,448 | -96.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €439,997 | €434,723 | -€5,275 | -1.2% |
| Operating profit (loss) | 9901 | €50,755 | €45,031 | -€5,724 | -11.3% |
| Financial income | 75/76B | €70 | €25,291 | +€25,220 | +35,809% |
| Recurring financial income | 75 | €70 | €25,291 | +€25,220 | +35,809% |
| Financial charges | 65/66B | €15,454 | €41,317 | +€25,863 | +167% |
| Recurring financial charges | 65 | €15,454 | €41,317 | +€25,863 | +167% |
| Profit (loss) for the period before taxes | 9903 | €35,371 | €29,005 | -€6,366 | -18.0% |
| Income taxes | 67/77 | €17,905 | €10,854 | -€7,050 | -39.4% |
| Profit (loss) for the period | 9904 | €17,467 | €18,151 | +€684 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,467 | €18,151 | +€684 | +3.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.