Clovi: 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.
Clovi
Largest movements
- Financial fixed assets +€1.8m
up €1.8m (+1,032%), from €176,400 to €2.0m
- Cash +€164,613
up €164,613 (+77.5%), from €212,512 to €377,125
mainly Net result for the year (+€1.7m) and Other debts (+€356,992)
- Deferred charges and accrued income -€156,067
down €156,067 (-90.3%), from €172,853 to €16,786
- Receivables after one year -€135,730
down €135,730 (-55.2%), from €245,730 to €110,000
- Receivables within one year -€83,450
down €83,450 (-79.1%), from €105,545 to €22,095
of which Trade receivables: -€90,737
- Reserves +€1.1m
up €1.1m (+89.5%), from €1.3m to €2.4m
of which Distributable reserves: +€1.1m
- Other debts +€356,992
up €356,992 (+17,306%), from €2,063 to €359,055
- Tax, wage and social debts +€126,930
up €126,930 (+683%), from €18,594 to €145,523
of which Taxes: +€126,032
- Financial income +€1.6m
up €1.6m (+958%), from €172,121 to €1.8m
of which Non-recurring financial income: +€1.8m
- Taxes +€116,785
up €116,785 (+173%), from €67,512 to €184,297
- Gross operating margin -€79,204
down €79,204 (-57.6%), from €137,438 to €58,234
- Depreciation -€7,071
down €7,071 (-66.0%), from €10,712 to €3,641
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 | €1,295,097 | €2,910,728 | +€1.6m | +125% |
| Fixed assets | 21/28 | €202,866 | €2,021,858 | +€1.8m | +897% |
| Tangible fixed assets | 22/27 | €26,466 | €24,129 | -€2,337 | -8.8% |
| Plant, machinery and equipment | 23 | - | €1,253 | +€1,253 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €26,466 | €22,876 | -€3,590 | -13.6% |
| Financial fixed assets | 28 | €176,400 | €1,997,730 | +€1.8m | +1,032% |
| Current assets | 29/58 | €1,092,231 | €888,870 | -€203,362 | -18.6% |
| Amounts receivable after more than one year | 29 | €245,730 | €110,000 | -€135,730 | -55.2% |
| Other amounts receivable | 291 | €245,730 | €110,000 | -€135,730 | -55.2% |
| Amounts receivable within one year | 40/41 | €105,545 | €22,095 | -€83,450 | -79.1% |
| Trade receivables | 40 | €105,545 | €14,808 | -€90,737 | -86.0% |
| Other amounts receivable | 41 | €0 | €7,287 | +€7,287 | |
| Current investments | 50/53 | €355,591 | €362,864 | +€7,272 | +2.0% |
| Cash at bank and in hand | 54/58 | €212,512 | €377,125 | +€164,613 | +77.5% |
| Deferred charges and accrued income | 490/1 | €172,853 | €16,786 | -€156,067 | -90.3% |
| Total equity and liabilities | 10/49 | €1,295,097 | €2,910,728 | +€1.6m | +125% |
| Equity | 10/15 | €1,273,991 | €2,396,543 | +€1.1m | +88.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,254,598 | €2,377,150 | +€1.1m | +89.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,252,738 | €2,375,290 | +€1.1m | +89.6% |
| Profit (loss) carried forward | 14 | €793 | €793 | = | 0.0% |
| Amounts payable | 17/49 | €21,106 | €514,185 | +€493,079 | +2,336% |
| Amounts payable within one year | 42/48 | €21,106 | €513,967 | +€492,861 | +2,335% |
| Trade debts | 44 | €449 | €9,389 | +€8,940 | +1,989% |
| Suppliers | 440/4 | €449 | €9,389 | +€8,940 | +1,989% |
| Taxes, remuneration and social security | 45 | €18,594 | €145,523 | +€126,930 | +683% |
| Taxes | 450/3 | €18,594 | €144,626 | +€126,032 | +678% |
| Remuneration and social security | 454/9 | - | €897 | +€897 | |
| Other amounts payable | 47/48 | €2,063 | €359,055 | +€356,992 | +17,306% |
| Accrued charges and deferred income | 492/3 | - | €218 | +€218 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,712 | €3,641 | -€7,071 | -66.0% |
| Other operating charges | 640/8 | €1,734 | €1,850 | +€116 | +6.7% |
| Gross operating margin | 9900 | €137,438 | €58,234 | -€79,204 | -57.6% |
| Operating profit (loss) | 9901 | €124,991 | €52,743 | -€72,248 | -57.8% |
| Financial income | 75/76B | €172,121 | €1,820,678 | +€1.6m | +958% |
| Recurring financial income | 75 | €172,121 | €14,284 | -€157,837 | -91.7% |
| Non-recurring financial income | 76B | - | €1,806,395 | +€1.8m | |
| Financial charges | 65/66B | €168 | €185 | +€17 | +10.2% |
| Recurring financial charges | 65 | €168 | €185 | +€17 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €296,944 | €1,873,236 | +€1.6m | +531% |
| Income taxes | 67/77 | €67,512 | €184,297 | +€116,785 | +173% |
| Profit (loss) for the period | 9904 | €229,432 | €1,688,940 | +€1.5m | +636% |
| Profit (loss) for the period to be appropriated | 9905 | €229,432 | €1,688,940 | +€1.5m | +636% |
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 19 October 2026 via checked.be.