CLOFINI: 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.
CLOFINI
Largest movements
- Current investments +€562,765
new in 2025: €562,765
- Cash -€102,782
down €102,782 (-18.4%), from €557,686 to €454,904
mainly Current investments (-€562,765) and Investment in fixed assets (net) (-€56,341)
- Receivables within one year +€43,160
up €43,160 (+1218.1%), from €3,543 to €46,703
of which Trade receivables: +€34,249
- Reserves +€442,478
up €442,478 (+36.7%), from €1.2m to €1.6m
- Trade debts +€68,739
up €68,739 (+650.1%), from €10,574 to €79,313
- Tax, wage and social debts -€25,036
down €25,036 (-36.1%), from €69,284 to €44,248
- Financial income -€199,598
down €199,598 (-33.2%), from €600,405 to €400,807
- Financial charges +€22,243
up €22,243 (+212.6%), from €10,462 to €32,704
of which Financial charges: +€22,243
- Taxes -€21,759
down €21,759 (-21.2%), from €102,486 to €80,727
- Gross operating margin -€14,043
down €14,043 (-5.4%), from €259,956 to €245,912
- Depreciation +€6,999
up €6,999 (+10.7%), from €65,450 to €72,449
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 | €1,818,444 | €2,305,566 | +€487,122 | +26.8% |
| Fixed assets | 21/28 | €1,143,054 | €1,126,946 | -€16,108 | -1.4% |
| Tangible fixed assets | 22/27 | €1,032,684 | €1,016,576 | -€16,108 | -1.6% |
| Land and buildings | 22 | €963,764 | €950,491 | -€13,273 | -1.4% |
| Plant, machinery and equipment | 23 | €2,877 | €1,785 | -€1,093 | -38.0% |
| Furniture and vehicles | 24 | €66,043 | €64,300 | -€1,742 | -2.6% |
| Financial fixed assets | 28 | €110,370 | €110,370 | = | 0.0% |
| Current assets | 29/58 | €675,390 | €1,178,620 | +€503,230 | +74.5% |
| Amounts receivable after more than one year | 29 | €110,888 | €110,888 | = | 0.0% |
| Other amounts receivable | 291 | €110,888 | €110,888 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,543 | €46,703 | +€43,160 | +1218.1% |
| Trade receivables | 40 | - | €34,249 | +€34,249 | |
| Other amounts receivable | 41 | €3,543 | €12,454 | +€8,911 | +251.5% |
| Current investments | 50/53 | - | €562,765 | +€562,765 | |
| Cash at bank and in hand | 54/58 | €557,686 | €454,904 | -€102,782 | -18.4% |
| Deferred charges and accrued income | 490/1 | €3,273 | €3,360 | +€88 | +2.7% |
| Total equity and liabilities | 10/49 | €1,818,444 | €2,305,566 | +€487,122 | +26.8% |
| Equity | 10/15 | €1,730,912 | €2,173,390 | +€442,478 | +25.6% |
| Contributions | 10/11 | €525,000 | €525,000 | = | 0.0% |
| Reserves | 13 | €1,205,912 | €1,648,390 | +€442,478 | +36.7% |
| Distributable reserves | 133 | €1,205,912 | €1,648,390 | +€442,478 | +36.7% |
| Amounts payable | 17/49 | €87,532 | €132,176 | +€44,644 | +51.0% |
| Amounts payable after more than one year | 17 | €7,674 | €7,861 | +€187 | +2.4% |
| Other amounts payable | 178/9 | €7,674 | €7,861 | +€187 | +2.4% |
| Amounts payable within one year | 42/48 | €79,857 | €123,561 | +€43,703 | +54.7% |
| Trade debts | 44 | €10,574 | €79,313 | +€68,739 | +650.1% |
| Suppliers | 440/4 | €10,574 | €79,313 | +€68,739 | +650.1% |
| Taxes, remuneration and social security | 45 | €69,284 | €44,248 | -€25,036 | -36.1% |
| Taxes | 450/3 | €69,284 | €44,248 | -€25,036 | -36.1% |
| Accrued charges and deferred income | 492/3 | €0 | €754 | +€754 | |
| Non-recurring operating income | 76A | €4,000 | €0 | -€4,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,450 | €72,449 | +€6,999 | +10.7% |
| Other operating charges | 640/8 | €21,673 | €18,362 | -€3,311 | -15.3% |
| Gross operating margin | 9900 | €259,956 | €245,912 | -€14,043 | -5.4% |
| Operating profit (loss) | 9901 | €172,833 | €155,101 | -€17,731 | -10.3% |
| Financial income | 75/76B | €600,405 | €400,807 | -€199,598 | -33.2% |
| Recurring financial income | 75 | €600,405 | €400,807 | -€199,598 | -33.2% |
| Financial charges | 65/66B | €10,462 | €32,704 | +€22,243 | +212.6% |
| Recurring financial charges | 65 | €10,462 | €32,704 | +€22,243 | +212.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €762,776 | €523,204 | -€239,572 | -31.4% |
| Income taxes | 67/77 | €102,486 | €80,727 | -€21,759 | -21.2% |
| Profit (loss) for the period | 9904 | €660,290 | €442,478 | -€217,813 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €660,290 | €442,478 | -€217,813 | -33.0% |
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 29 September 2026 via checked.be.