CLOVA: 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
CLOVA
NACE 96.101, Personal service activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2,111
2024 · -€640,044+€642,155
Equity
€2.0m
2024 · €2.0m+€2,111
Cash
€678,751
2024 · €442,102+€236,648
Balance sheet total
€24.1m
2024 · €23.8m+€328,616
Largest movements
Assets
- Tangible fixed assets -€1.3m
down €1.3m (-6.2%), from €20.9m to €19.6m
of which Other tangible fixed assets: -€1.7m
- Receivables within one year +€872,036
up €872,036 (+43.8%), from €2.0m to €2.9m
of which Trade receivables: +€874,350
- Deferred charges and accrued income +€530,111
up €530,111 (+347.1%), from €152,726 to €682,836
Equity and liabilities
- Debts after one year -€780,831
down €780,831 (-5.9%), from €13.2m to €12.4m
- Current portion of long-term debt +€586,719
up €586,719 (+15.3%), from €3.8m to €4.4m
- Tax, wage and social debts +€563,830
up €563,830 (+47.2%), from €1.2m to €1.8m
of which Remuneration and social security: +€431,277
- Short-term financial debts -€279,627
down €279,627 (-25.1%), from €1.1m to €832,363
Income statement
- Turnover +€3.3m
up €3.3m (+19.8%), from €16.5m to €19.8m
- Staff costs +€1.5m
up €1.5m (+17.6%), from €8.3m to €9.7m
- Services and other goods +€1.3m
up €1.3m (+48.0%), from €2.7m to €4.0m
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
-€640,044
Turnover
+€3.3m
Other operating income
-€2,027
Goods and materials
+€20,081
Services and other goods
-€1.3m
Staff costs
-€1.5m
Depreciation
-€126,361
Write-downs
-€42,444
Other operating charges
-€30,830
Other operating items
+€422,151
Financial income
-€2,122
Financial charges
-€116,527
Taxes
-€36
Result 2025
€2,111
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
+€3.5m
Investment
-€2.8m
Financing
-€473,740
Cash 2024
€442,102
From operations (derived)
+€3.5m
Net result for the year
+€2,111
Depreciation
+€4.1m
Smaller working-capital items
+€5,732
Receivables within one year
-€872,036
Deferred charges and accrued income
-€530,111
Trade debts
+€235,424
Tax, wage and social debts
+€563,830
Investment (derived)
-€2.8m
Investment in fixed assets (net)
-€2.8m
Financing
-€473,740
Debts after one year
-€780,831
Current portion of long-term debt
+€586,719
Short-term financial debts
-€279,627
Cash 2025
€678,751
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,789,652 | €24,118,268 | +€328,616 | +1.4% |
| Fixed assets | 21/28 | €20,920,265 | €19,614,826 | -€1.3m | -6.2% |
| Tangible fixed assets | 22/27 | €20,909,030 | €19,602,841 | -€1.3m | -6.2% |
| Land and buildings | 22 | €2,700,890 | €2,643,882 | -€57,008 | -2.1% |
| Plant, machinery and equipment | 23 | €9,503,663 | €8,968,406 | -€535,257 | -5.6% |
| Furniture and vehicles | 24 | €361,964 | €404,032 | +€42,068 | +11.6% |
| Leasing and similar rights | 25 | €825,746 | €1,015,310 | +€189,564 | +23.0% |
| Other tangible fixed assets | 26 | €7,280,005 | €5,592,450 | -€1.7m | -23.2% |
| Assets under construction and advance payments | 27 | €236,762 | €978,761 | +€741,999 | +313.4% |
| Financial fixed assets | 28 | €11,235 | €11,985 | +€750 | +6.7% |
| Other financial fixed assets | 284/8 | €11,235 | €11,985 | +€750 | +6.7% |
| Amounts receivable and cash guarantees | 285/8 | €11,235 | €11,985 | +€750 | +6.7% |
| Current assets | 29/58 | €2,869,387 | €4,503,441 | +€1.6m | +56.9% |
| Stocks and contracts in progress | 3 | €284,915 | €280,175 | -€4,741 | -1.7% |
| Stocks | 30/36 | €284,915 | €280,175 | -€4,741 | -1.7% |
| Raw materials and consumables | 30/31 | €203,324 | €235,666 | +€32,342 | +15.9% |
| Goods purchased for resale | 34 | €81,591 | €44,508 | -€37,082 | -45.4% |
| Amounts receivable within one year | 40/41 | €1,989,644 | €2,861,680 | +€872,036 | +43.8% |
| Trade receivables | 40 | €1,987,329 | €2,861,680 | +€874,350 | +44.0% |
| Other amounts receivable | 41 | €2,314 | €0 | -€2,314 | -100.0% |
| Cash at bank and in hand | 54/58 | €442,102 | €678,751 | +€236,648 | +53.5% |
| Deferred charges and accrued income | 490/1 | €152,726 | €682,836 | +€530,111 | +347.1% |
| Total equity and liabilities | 10/49 | €23,789,652 | €24,118,268 | +€328,616 | +1.4% |
| Equity | 10/15 | €1,956,297 | €1,958,408 | +€2,111 | +0.1% |
| Contributions | 10/11 | €2,460,721 | €2,460,721 | = | 0.0% |
| Capital | 10 | €2,460,721 | €2,460,721 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€504,424 | -€502,313 | +€2,111 | +0.4% |
| Amounts payable | 17/49 | €21,833,355 | €22,159,860 | +€326,505 | +1.5% |
| Amounts payable after more than one year | 17 | €13,229,158 | €12,448,326 | -€780,831 | -5.9% |
| Financial debts | 170/4 | €13,229,158 | €12,448,326 | -€780,831 | -5.9% |
| Leasing and similar obligations | 172 | €301,491 | €579,173 | +€277,682 | +92.1% |
| Credit institutions | 173 | €12,927,667 | €11,869,154 | -€1.1m | -8.2% |
| Amounts payable within one year | 42/48 | €8,495,339 | €9,601,685 | +€1.1m | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €3,830,049 | €4,416,768 | +€586,719 | +15.3% |
| Financial debts | 43 | €1,111,990 | €832,363 | -€279,627 | -25.1% |
| Credit institutions | 430/8 | €1,111,990 | €832,363 | -€279,627 | -25.1% |
| Trade debts | 44 | €2,358,738 | €2,594,162 | +€235,424 | +10.0% |
| Suppliers | 440/4 | €2,358,738 | €2,594,162 | +€235,424 | +10.0% |
| Taxes, remuneration and social security | 45 | €1,194,562 | €1,758,392 | +€563,830 | +47.2% |
| Taxes | 450/3 | €28,725 | €161,278 | +€132,553 | +461.5% |
| Remuneration and social security | 454/9 | €1,165,837 | €1,597,114 | +€431,277 | +37.0% |
| Accrued charges and deferred income | 492/3 | €108,858 | €109,849 | +€991 | +0.9% |
| Operating income | 70/76A | €16,763,220 | €20,456,073 | +€3.7m | +22.0% |
| Turnover | 70 | €16,516,140 | €19,786,408 | +€3.3m | +19.8% |
| Other operating income | 74 | €84,036 | €82,008 | -€2,027 | -2.4% |
| Non-recurring operating income | 76A | - | €391,661 | +€391,661 | |
| Operating charges | 60/66A | €16,873,547 | €19,805,560 | +€2.9m | +17.4% |
| Goods for resale, raw materials and consumables | 60 | €1,725,718 | €1,705,638 | -€20,081 | -1.2% |
| Purchases | 600/8 | €1,550,254 | €1,723,306 | +€173,052 | +11.2% |
| Change in stocks: decrease (increase) | 609 | €175,464 | -€17,669 | -€193,133 | |
| Services and other goods | 61 | €2,687,561 | €3,978,036 | +€1.3m | +48.0% |
| Remuneration, social security and pensions | 62 | €8,272,592 | €9,732,115 | +€1.5m | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,962,077 | €4,088,438 | +€126,361 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,629 | €79,072 | +€42,444 | +115.9% |
| Other operating charges | 640/8 | €188,971 | €219,801 | +€30,830 | +16.3% |
| Non-recurring operating charges | 66A | - | €2,461 | +€2,461 | |
| Operating profit (loss) | 9901 | -€110,327 | €650,513 | +€760,840 | |
| Financial income | 75/76B | €4,235 | €2,113 | -€2,122 | -50.1% |
| Recurring financial income | 75 | €4,235 | €2,113 | -€2,122 | -50.1% |
| Income from current assets | 751 | €88 | €55 | -€33 | -37.5% |
| Other financial income | 752/9 | €4,147 | €2,058 | -€2,088 | -50.4% |
| Financial charges | 65/66B | €532,274 | €648,802 | +€116,527 | +21.9% |
| Recurring financial charges | 65 | €532,274 | €648,802 | +€116,527 | +21.9% |
| Debt charges | 650 | €520,542 | €627,254 | +€106,712 | +20.5% |
| Other financial charges | 652/9 | €11,733 | €21,547 | +€9,815 | +83.7% |
| Profit (loss) for the period before taxes | 9903 | -€638,367 | €3,824 | +€642,191 | |
| Income taxes | 67/77 | €1,677 | €1,714 | +€36 | +2.2% |
| Taxes | 670/3 | €2,038 | €1,714 | -€324 | -15.9% |
| Tax adjustments and reversals of tax provisions | 77 | €360 | - | -€360 | |
| Profit (loss) for the period | 9904 | -€640,044 | €2,111 | +€642,155 | |
| Profit (loss) for the period to be appropriated | 9905 | -€640,044 | €2,111 | +€642,155 |
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 7 October 2026 via checked.be.