De Clippel: 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.
De Clippel
Largest movements
- Cash +€53,045
up €53,045 (+590.3%), from €8,986 to €62,031
mainly Debts after one year (+€29,605) and Tax, wage and social debts (+€27,010)
- Stocks and contracts +€19,425
up €19,425 (+99.7%), from €19,479 to €38,904
- Receivables within one year -€7,007
down €7,007 (-2.4%), from €288,383 to €281,376
of which Trade receivables: -€7,881
- Debts after one year +€29,605
up €29,605 (+70.0%), from €42,277 to €71,882
of which Financial debts: +€40,000
- Tax, wage and social debts +€27,010
up €27,010 (+809.2%), from €3,338 to €30,348
of which Remuneration and social security: +€18,966
- Gross operating margin -€55,504
down €55,504 (-12.4%), from €448,280 to €392,776
- Financial charges -€10,864
down €10,864 (-90.7%), from €11,983 to €1,119
- Staff costs +€5,953
up €5,953 (+1.5%), from €396,027 to €401,979
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 | €339,455 | €399,270 | +€59,816 | +17.6% |
| Fixed assets | 21/28 | €18,271 | €16,386 | -€1,886 | -10.3% |
| Tangible fixed assets | 22/27 | €11,831 | €9,946 | -€1,886 | -15.9% |
| Plant, machinery and equipment | 23 | €2,616 | €3,216 | +€600 | +22.9% |
| Furniture and vehicles | 24 | €9,216 | €6,730 | -€2,486 | -27.0% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €6,440 | €6,440 | = | 0.0% |
| Current assets | 29/58 | €321,184 | €382,885 | +€61,701 | +19.2% |
| Stocks and contracts in progress | 3 | €19,479 | €38,904 | +€19,425 | +99.7% |
| Stocks | 30/36 | €19,479 | €38,904 | +€19,425 | +99.7% |
| Amounts receivable within one year | 40/41 | €288,383 | €281,376 | -€7,007 | -2.4% |
| Trade receivables | 40 | €10,888 | €3,008 | -€7,881 | -72.4% |
| Other amounts receivable | 41 | €277,495 | €278,368 | +€874 | +0.3% |
| Cash at bank and in hand | 54/58 | €8,986 | €62,031 | +€53,045 | +590.3% |
| Deferred charges and accrued income | 490/1 | €4,336 | €574 | -€3,762 | -86.8% |
| Total equity and liabilities | 10/49 | €339,455 | €399,270 | +€59,816 | +17.6% |
| Equity | 10/15 | -€3,465 | -€520 | +€2,946 | +85.0% |
| Contributions | 10/11 | €17,353 | €17,353 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,677 | -€19,732 | +€2,946 | +13.0% |
| Amounts payable | 17/49 | €342,920 | €399,790 | +€56,870 | +16.6% |
| Amounts payable after more than one year | 17 | €42,277 | €71,882 | +€29,605 | +70.0% |
| Financial debts | 170/4 | - | €40,000 | +€40,000 | |
| Other amounts payable | 178/9 | €42,277 | €31,882 | -€10,395 | -24.6% |
| Amounts payable within one year | 42/48 | €300,643 | €327,908 | +€27,265 | +9.1% |
| Trade debts | 44 | €297,305 | €297,560 | +€255 | +0.1% |
| Suppliers | 440/4 | €297,305 | €297,560 | +€255 | +0.1% |
| Taxes, remuneration and social security | 45 | €3,338 | €30,348 | +€27,010 | +809.2% |
| Taxes | 450/3 | €3,338 | €11,382 | +€8,044 | +241.0% |
| Remuneration and social security | 454/9 | - | €18,966 | +€18,966 | |
| Remuneration, social security and pensions | 62 | €396,027 | €401,979 | +€5,953 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,052 | €4,673 | +€2,621 | +127.7% |
| Other operating charges | 640/8 | €5,861 | €3,121 | -€2,740 | -46.8% |
| Gross operating margin | 9900 | €448,280 | €392,776 | -€55,504 | -12.4% |
| Operating profit (loss) | 9901 | €44,340 | -€16,997 | -€61,337 | |
| Financial income | 75/76B | €20,900 | €21,236 | +€335 | +1.6% |
| Recurring financial income | 75 | €20,900 | €21,236 | +€335 | +1.6% |
| Financial charges | 65/66B | €11,983 | €1,119 | -€10,864 | -90.7% |
| Recurring financial charges | 65 | €11,983 | €1,119 | -€10,864 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €53,258 | €3,120 | -€50,138 | -94.1% |
| Income taxes | 67/77 | - | €174 | +€174 | |
| Profit (loss) for the period | 9904 | €53,258 | €2,946 | -€50,312 | -94.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,258 | €2,946 | -€50,312 | -94.5% |
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 8 October 2026 via checked.be.