CLUSTEO: 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
CLUSTEO
NACE 62.100, Computer programming
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.0m
2024 · -€34,279-€1.9m
Equity
-€249,494
2024 · €1.7m-€2.0m
Cash
€4,014
2024 · €1,075+€2,939
Balance sheet total
€29,640
2024 · €2.0m-€2.0m
Largest movements
Assets
- Intangible fixed assets -€2.0m
down €2.0m (-98.7%), from €2.0m to €25,323
Equity and liabilities
- Contributions -€2.0m
down €2.0m (-94.2%), from €2.1m to €119,850
Income statement
- Write-downs -€19,184
no longer reported in 2025 (was €19,184)
- Other operating charges +€810
up €810 (+74.6%), from €1,085 to €1,895
- Gross operating margin +€202
up €202 (+15.8%), from -€1,274 to -€1,072
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
-€34,279
Gross operating margin
+€202
Depreciation
-€1
Write-downs
+€19,184
Other operating charges
-€810
Other operating items
-€2.0m
Financial charges
+€4
Result 2025
-€2.0m
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
-€2.0m
Investment
+€2.0m
Financing
+€14,511
Cash 2024
€1,075
From operations (derived)
-€2.0m
Net result for the year
-€2.0m
Depreciation
+€12,663
Smaller working-capital items
-€448
Other debts
+€7,545
Accrued charges and deferred income
-€15,633
Investment (derived)
+€2.0m
Investment in fixed assets (net)
+€2.0m
Financing
+€14,511
Debts after one year
+€14,511
Cash 2025
€4,014
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,990,692 | €29,640 | -€2.0m | -98.5% |
| Fixed assets | 21/28 | €1,987,986 | €25,323 | -€2.0m | -98.7% |
| Intangible fixed assets | 21 | €1,987,986 | €25,323 | -€2.0m | -98.7% |
| Current assets | 29/58 | €2,706 | €4,316 | +€1,611 | +59.5% |
| Amounts receivable within one year | 40/41 | €1,494 | €303 | -€1,191 | -79.8% |
| Trade receivables | 40 | - | €303 | +€303 | |
| Other amounts receivable | 41 | €1,494 | - | -€1,494 | |
| Cash at bank and in hand | 54/58 | €1,075 | €4,014 | +€2,939 | +273.3% |
| Deferred charges and accrued income | 490/1 | €137 | - | -€137 | |
| Total equity and liabilities | 10/49 | €1,990,692 | €29,640 | -€2.0m | -98.5% |
| Equity | 10/15 | €1,716,206 | -€249,494 | -€2.0m | |
| Contributions | 10/11 | €2,069,850 | €119,850 | -€2.0m | -94.2% |
| Capital | 10 | €2,069,850 | €119,850 | -€2.0m | -94.2% |
| Issued capital | 100 | €2,069,850 | €119,850 | -€2.0m | -94.2% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€355,503 | -€371,203 | -€15,700 | -4.4% |
| Amounts payable | 17/49 | €274,485 | €279,133 | +€4,648 | +1.7% |
| Amounts payable after more than one year | 17 | €231,150 | €245,661 | +€14,511 | +6.3% |
| Financial debts | 170/4 | €231,150 | €245,661 | +€14,511 | +6.3% |
| Amounts payable within one year | 42/48 | €27,703 | €33,472 | +€5,769 | +20.8% |
| Trade debts | 44 | €1,537 | €180 | -€1,357 | -88.3% |
| Suppliers | 440/4 | €1,537 | €180 | -€1,357 | -88.3% |
| Taxes, remuneration and social security | 45 | €447 | €29 | -€419 | -93.6% |
| Taxes | 450/3 | €447 | €29 | -€419 | -93.6% |
| Other amounts payable | 47/48 | €25,719 | €33,264 | +€7,545 | +29.3% |
| Accrued charges and deferred income | 492/3 | €15,633 | - | -€15,633 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,662 | €12,663 | +€1 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,184 | - | -€19,184 | |
| Other operating charges | 640/8 | €1,085 | €1,895 | +€810 | +74.6% |
| Non-recurring operating charges | 66A | - | €1,950,000 | +€2.0m | |
| Gross operating margin | 9900 | -€1,274 | -€1,072 | +€202 | +15.8% |
| Operating profit (loss) | 9901 | -€34,205 | -€1,965,630 | -€1.9m | -5646.6% |
| Financial charges | 65/66B | €74 | €70 | -€4 | -4.9% |
| Recurring financial charges | 65 | €74 | €70 | -€4 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€34,279 | -€1,965,700 | -€1.9m | -5634.4% |
| Profit (loss) for the period | 9904 | -€34,279 | -€1,965,700 | -€1.9m | -5634.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,279 | -€1,965,700 | -€1.9m | -5634.4% |
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 2 October 2026 via checked.be.