De Clercq: 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.
De Clercq
Largest movements
- Cash +€24,374
up €24,374 (+8.2%), from €295,720 to €320,094
mainly Depreciation (+€17,431) and Net result for the year (+€8,664)
- Tangible fixed assets -€17,431
down €17,431 (-86.9%), from €20,054 to €2,623
of which Furniture and vehicles: -€17,022
- Reserves +€8,664
up €8,664 (+2.6%), from €331,814 to €340,477
of which Distributable reserves: +€8,664
- Trade debts -€6,611
down €6,611 (-75.8%), from €8,727 to €2,115
- Gross operating margin -€12,024
down €12,024 (-28.2%), from €42,587 to €30,563
- Taxes -€3,609
down €3,609 (-48.2%), from €7,495 to €3,886
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 | €350,895 | €355,645 | +€4,750 | +1.4% |
| Fixed assets | 21/28 | €20,054 | €2,623 | -€17,431 | -86.9% |
| Tangible fixed assets | 22/27 | €20,054 | €2,623 | -€17,431 | -86.9% |
| Plant, machinery and equipment | 23 | €1,175 | €766 | -€409 | -34.8% |
| Furniture and vehicles | 24 | €18,878 | €1,856 | -€17,022 | -90.2% |
| Current assets | 29/58 | €330,842 | €353,023 | +€22,181 | +6.7% |
| Amounts receivable within one year | 40/41 | €34,735 | €32,114 | -€2,622 | -7.5% |
| Trade receivables | 40 | €14,496 | €12,126 | -€2,370 | -16.3% |
| Other amounts receivable | 41 | €20,240 | €19,988 | -€252 | -1.2% |
| Cash at bank and in hand | 54/58 | €295,720 | €320,094 | +€24,374 | +8.2% |
| Deferred charges and accrued income | 490/1 | €386 | €815 | +€429 | +111% |
| Total equity and liabilities | 10/49 | €350,895 | €355,645 | +€4,750 | +1.4% |
| Equity | 10/15 | €333,674 | €342,337 | +€8,664 | +2.6% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €331,814 | €340,477 | +€8,664 | +2.6% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €313,064 | €321,727 | +€8,664 | +2.8% |
| Amounts payable | 17/49 | €17,221 | €13,308 | -€3,913 | -22.7% |
| Amounts payable within one year | 42/48 | €17,221 | €13,308 | -€3,913 | -22.7% |
| Trade debts | 44 | €8,727 | €2,115 | -€6,611 | -75.8% |
| Suppliers | 440/4 | €8,727 | €2,115 | -€6,611 | -75.8% |
| Taxes, remuneration and social security | 45 | €8,495 | €11,193 | +€2,698 | +31.8% |
| Taxes | 450/3 | €7,495 | €9,193 | +€1,698 | +22.7% |
| Remuneration and social security | 454/9 | €1,000 | €2,000 | +€1,000 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,096 | €17,431 | +€335 | +2.0% |
| Other operating charges | 640/8 | €1,011 | €784 | -€226 | -22.4% |
| Gross operating margin | 9900 | €42,587 | €30,563 | -€12,024 | -28.2% |
| Operating profit (loss) | 9901 | €24,481 | €12,348 | -€12,133 | -49.6% |
| Financial income | 75/76B | €491 | €367 | -€124 | -25.3% |
| Recurring financial income | 75 | €491 | €367 | -€124 | -25.3% |
| Financial charges | 65/66B | €135 | €166 | +€31 | +23.0% |
| Recurring financial charges | 65 | €135 | €166 | +€31 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €24,837 | €12,549 | -€12,288 | -49.5% |
| Income taxes | 67/77 | €7,495 | €3,886 | -€3,609 | -48.2% |
| Profit (loss) for the period | 9904 | €17,342 | €8,664 | -€8,679 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,342 | €8,664 | -€8,679 | -50.0% |
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 20 October 2026 via checked.be.