CLOWA: 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.
CLOWA
Largest movements
- Cash -€60,352
down €60,352 (-68.1%), from €88,567 to €28,215
mainly Receivables within one year (-€34,236) and Debts after one year (-€27,836)
- Receivables within one year +€34,236
up €34,236 (+620.6%), from €5,516 to €39,752
of which Other amounts receivable: +€29,789
- Stocks and contracts +€13,550
new in 2025: €13,550
- Tangible fixed assets -€10,790
down €10,790 (-6.8%), from €159,433 to €148,643
of which Land and buildings: -€9,955
- Debts after one year -€27,836
no longer reported in 2025 (was €27,836)
- Profit (loss) carried forward +€17,786
up €17,786 (+98.8%), from €18,000 to €35,786
- Other debts -€13,489
down €13,489 (-96.4%), from €13,989 to €500
- Current portion of long-term debt -€3,963
no longer reported in 2025 (was €3,963)
- Trade debts +€3,197
up €3,197 (+377.4%), from €847 to €4,044
- Gross operating margin -€9,341
down €9,341 (-16.5%), from €56,646 to €47,305
- Taxes -€5,398
down €5,398 (-47.7%), from €11,326 to €5,929
- Other operating charges +€1,215
up €1,215 (+23.5%), from €5,178 to €6,393
- Financial charges +€866
up €866 (+83.1%), from €1,042 to €1,908
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 | €255,341 | €231,191 | -€24,151 | -9.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €159,433 | €148,643 | -€10,790 | -6.8% |
| Tangible fixed assets | 22/27 | €159,433 | €148,643 | -€10,790 | -6.8% |
| Land and buildings | 22 | €126,973 | €117,018 | -€9,955 | -7.8% |
| Plant, machinery and equipment | 23 | €32,460 | €27,573 | -€4,887 | -15.1% |
| Furniture and vehicles | 24 | €0 | €4,052 | +€4,052 | |
| Current assets | 29/58 | €95,908 | €82,547 | -€13,361 | -13.9% |
| Stocks and contracts in progress | 3 | - | €13,550 | +€13,550 | |
| Stocks | 30/36 | - | €13,550 | +€13,550 | |
| Amounts receivable within one year | 40/41 | €5,516 | €39,752 | +€34,236 | +620.6% |
| Trade receivables | 40 | - | €4,447 | +€4,447 | |
| Other amounts receivable | 41 | €5,516 | €35,305 | +€29,789 | +540.0% |
| Cash at bank and in hand | 54/58 | €88,567 | €28,215 | -€60,352 | -68.1% |
| Deferred charges and accrued income | 490/1 | €1,825 | €1,030 | -€795 | -43.6% |
| Total equity and liabilities | 10/49 | €255,341 | €231,191 | -€24,151 | -9.5% |
| Equity | 10/15 | €208,706 | €226,492 | +€17,786 | +8.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €128,706 | €128,706 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €122,506 | €122,506 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,000 | €35,786 | +€17,786 | +98.8% |
| Amounts payable | 17/49 | €46,635 | €4,699 | -€41,936 | -89.9% |
| Amounts payable after more than one year | 17 | €27,836 | - | -€27,836 | |
| Financial debts | 170/4 | €27,836 | - | -€27,836 | |
| Amounts payable within one year | 42/48 | €18,799 | €4,544 | -€14,256 | -75.8% |
| Current portion of amounts payable after more than one year | 42 | €3,963 | - | -€3,963 | |
| Trade debts | 44 | €847 | €4,044 | +€3,197 | +377.4% |
| Suppliers | 440/4 | €847 | €4,044 | +€3,197 | +377.4% |
| Other amounts payable | 47/48 | €13,989 | €500 | -€13,489 | -96.4% |
| Accrued charges and deferred income | 492/3 | - | €155 | +€155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,842 | €15,290 | +€448 | +3.0% |
| Other operating charges | 640/8 | €5,178 | €6,393 | +€1,215 | +23.5% |
| Gross operating margin | 9900 | €56,646 | €47,305 | -€9,341 | -16.5% |
| Operating profit (loss) | 9901 | €36,626 | €25,622 | -€11,004 | -30.0% |
| Financial charges | 65/66B | €1,042 | €1,908 | +€866 | +83.1% |
| Recurring financial charges | 65 | €1,042 | €1,908 | +€866 | +83.1% |
| Profit (loss) for the period before taxes | 9903 | €35,584 | €23,714 | -€11,870 | -33.4% |
| Income taxes | 67/77 | €11,326 | €5,929 | -€5,398 | -47.7% |
| Profit (loss) for the period | 9904 | €24,258 | €17,786 | -€6,472 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,258 | €17,786 | -€6,472 | -26.7% |
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 10 October 2026 via checked.be.