CLOVER12: 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.
CLOVER12
Largest movements
- Receivables within one year -€48,348
down €48,348 (-95.4%), from €50,670 to €2,322
of which Trade receivables: -€50,670
- Current portion of long-term debt -€120,000
no longer reported in 2025 (was €120,000)
- Other debts +€54,401
up €54,401 (+7.2%), from €760,772 to €815,173
- Trade debts +€21,933
up €21,933 (+39.9%), from €55,027 to €76,960
- Gross operating margin +€11,004
up €11,004 (+195%), from €5,648 to €16,652
- Financial charges -€1,173
down €1,173 (-38.3%), from €3,062 to €1,890
- Other operating charges +€651
up €651 (+54.3%), from €1,199 to €1,851
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 | €1,798,237 | €1,767,061 | -€31,176 | -1.7% |
| Formation expenses | 20 | €1,026 | €616 | -€410 | -40.0% |
| Fixed assets | 21/28 | €1,735,000 | €1,735,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,735,000 | €1,735,000 | = | 0.0% |
| Current assets | 29/58 | €62,211 | €31,445 | -€30,766 | -49.5% |
| Amounts receivable within one year | 40/41 | €50,670 | €2,322 | -€48,348 | -95.4% |
| Trade receivables | 40 | €50,670 | - | -€50,670 | |
| Other amounts receivable | 41 | - | €2,322 | +€2,322 | |
| Cash at bank and in hand | 54/58 | €11,541 | €29,123 | +€17,582 | +152% |
| Total equity and liabilities | 10/49 | €1,798,237 | €1,767,061 | -€31,176 | -1.7% |
| Equity | 10/15 | €742,427 | €754,928 | +€12,501 | +1.7% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | €317,427 | €329,928 | +€12,501 | +3.9% |
| Distributable reserves | 133 | €317,427 | €329,928 | +€12,501 | +3.9% |
| Amounts payable | 17/49 | €1,055,810 | €1,012,133 | -€43,677 | -4.1% |
| Amounts payable after more than one year | 17 | €120,000 | €120,000 | = | 0.0% |
| Financial debts | 170/4 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €935,810 | €892,133 | -€43,677 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €120,000 | - | -€120,000 | |
| Trade debts | 44 | €55,027 | €76,960 | +€21,933 | +39.9% |
| Suppliers | 440/4 | €55,027 | €76,960 | +€21,933 | +39.9% |
| Taxes, remuneration and social security | 45 | €11 | - | -€11 | |
| Taxes | 450/3 | €11 | - | -€11 | |
| Other amounts payable | 47/48 | €760,772 | €815,173 | +€54,401 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €410 | €410 | = | 0.0% |
| Other operating charges | 640/8 | €1,199 | €1,851 | +€651 | +54.3% |
| Gross operating margin | 9900 | €5,648 | €16,652 | +€11,004 | +195% |
| Operating profit (loss) | 9901 | €4,038 | €14,391 | +€10,353 | +256% |
| Financial charges | 65/66B | €3,062 | €1,890 | -€1,173 | -38.3% |
| Recurring financial charges | 65 | €3,062 | €1,890 | -€1,173 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | €975 | €12,501 | +€11,526 | +1,182% |
| Profit (loss) for the period | 9904 | €975 | €12,501 | +€11,526 | +1,182% |
| Profit (loss) for the period to be appropriated | 9905 | €975 | €12,501 | +€11,526 | +1,182% |
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 15 October 2026 via checked.be.