DE CLERCQ JOHAN: 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 JOHAN
Largest movements
- Cash -€95,771
down €95,771 (-18.0%), from €533,536 to €437,765
mainly Contributions, distributions and other (-€74,450) and Investment in fixed assets (net) (-€28,557)
- Tangible fixed assets +€16,478
up €16,478 (+25.9%), from €63,643 to €80,121
of which Plant, machinery and equipment: +€19,598
- Reserves -€91,094
down €91,094 (-28.0%), from €325,417 to €234,323
of which Distributable reserves: -€91,094
- Other debts +€14,450
up €14,450 (+85.5%), from €16,900 to €31,350
- Gross operating margin -€46,921
down €46,921, from €40,731 to -€6,190
- Taxes -€10,167
down €10,167 (-98.3%), from €10,338 to €171
- Other operating charges -€1,711
down €1,711 (-42.9%), from €3,989 to €2,278
- Financial income -€731
down €731 (-14.4%), from €5,071 to €4,340
- Depreciation -€538
down €538 (-4.3%), from €12,617 to €12,079
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 | €781,424 | €706,244 | -€75,180 | -9.6% |
| Fixed assets | 21/28 | €63,643 | €80,121 | +€16,478 | +25.9% |
| Tangible fixed assets | 22/27 | €63,643 | €80,121 | +€16,478 | +25.9% |
| Land and buildings | 22 | €14,874 | €14,874 | = | 0.0% |
| Plant, machinery and equipment | 23 | €26,840 | €46,437 | +€19,598 | +73.0% |
| Furniture and vehicles | 24 | €21,930 | €18,810 | -€3,120 | -14.2% |
| Current assets | 29/58 | €717,781 | €626,123 | -€91,658 | -12.8% |
| Stocks and contracts in progress | 3 | €4,875 | €4,718 | -€158 | -3.2% |
| Stocks | 30/36 | €4,875 | €4,718 | -€158 | -3.2% |
| Amounts receivable within one year | 40/41 | €17,761 | €23,208 | +€5,448 | +30.7% |
| Trade receivables | 40 | €8,987 | €19,713 | +€10,726 | +119% |
| Other amounts receivable | 41 | €8,774 | €3,495 | -€5,278 | -60.2% |
| Current investments | 50/53 | €158,693 | €160,432 | +€1,739 | +1.1% |
| Cash at bank and in hand | 54/58 | €533,536 | €437,765 | -€95,771 | -18.0% |
| Deferred charges and accrued income | 490/1 | €2,916 | - | -€2,916 | |
| Total equity and liabilities | 10/49 | €781,424 | €706,244 | -€75,180 | -9.6% |
| Equity | 10/15 | €750,417 | €659,323 | -€91,094 | -12.1% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | €325,417 | €234,323 | -€91,094 | -28.0% |
| Tax-exempt reserves | 132 | €202 | €202 | = | 0.0% |
| Distributable reserves | 133 | €325,215 | €234,121 | -€91,094 | -28.0% |
| Amounts payable | 17/49 | €31,007 | €46,920 | +€15,914 | +51.3% |
| Amounts payable within one year | 42/48 | €31,007 | €46,920 | +€15,914 | +51.3% |
| Trade debts | 44 | €11,642 | €13,911 | +€2,270 | +19.5% |
| Suppliers | 440/4 | €11,642 | €13,911 | +€2,270 | +19.5% |
| Taxes, remuneration and social security | 45 | €2,465 | €1,659 | -€806 | -32.7% |
| Taxes | 450/3 | €1,050 | €1,659 | +€609 | +58.0% |
| Remuneration and social security | 454/9 | €1,415 | - | -€1,415 | |
| Other amounts payable | 47/48 | €16,900 | €31,350 | +€14,450 | +85.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,617 | €12,079 | -€538 | -4.3% |
| Other operating charges | 640/8 | €3,989 | €2,278 | -€1,711 | -42.9% |
| Gross operating margin | 9900 | €40,731 | -€6,190 | -€46,921 | |
| Operating profit (loss) | 9901 | €24,125 | -€20,547 | -€44,672 | |
| Financial income | 75/76B | €5,071 | €4,340 | -€731 | -14.4% |
| Recurring financial income | 75 | €5,071 | €4,340 | -€731 | -14.4% |
| Financial charges | 65/66B | €257 | €266 | +€9 | +3.4% |
| Recurring financial charges | 65 | €257 | €266 | +€9 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €28,939 | -€16,473 | -€45,412 | |
| Income taxes | 67/77 | €10,338 | €171 | -€10,167 | -98.3% |
| Profit (loss) for the period | 9904 | €18,601 | -€16,644 | -€35,245 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,601 | -€16,644 | -€35,245 |
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 18 October 2026 via checked.be.