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
- Stocks and contracts -€40,277
down €40,277 (-21.5%), from €187,146 to €146,869
- Receivables within one year -€32,737
down €32,737 (-68.0%), from €48,154 to €15,416
of which Trade receivables: -€31,735
- Cash -€17,879
down €17,879 (-97.5%), from €18,341 to €463
mainly Current portion of long-term debt (-€99,853) and Advances received (-€27,573)
- Receivables after one year +€17,303
up €17,303 (+17.6%), from €98,260 to €115,563
- Current portion of long-term debt -€99,853
down €99,853 (-74.8%), from €133,417 to €33,564
- Short-term financial debts +€70,393
up €70,393 (+1195.2%), from €5,889 to €76,283
- Advances received -€27,573
down €27,573 (-95.0%), from €29,011 to €1,439
- Trade debts -€18,987
down €18,987 (-45.9%), from €41,400 to €22,413
- Tax, wage and social debts +€6,105
up €6,105 (+190.5%), from €3,204 to €9,309
- Gross operating margin -€12,402
down €12,402, from €9,602 to -€2,801
- Write-downs -€9,000
down €9,000, from €0 to -€9,000
- Financial income -€4,598
down €4,598 (-58.3%), from €7,889 to €3,291
- Financial charges -€2,027
down €2,027 (-13.9%), from €14,594 to €12,567
- Other operating charges -€1,006
down €1,006 (-44.6%), from €2,258 to €1,252
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 | €352,791 | €279,067 | -€73,724 | -20.9% |
| Fixed assets | 21/28 | €312 | €207 | -€105 | -33.6% |
| Tangible fixed assets | 22/27 | €105 | €0 | -€105 | -100.0% |
| Plant, machinery and equipment | 23 | €105 | €0 | -€105 | -100.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €207 | €207 | = | 0.0% |
| Current assets | 29/58 | €352,479 | €278,860 | -€73,619 | -20.9% |
| Amounts receivable after more than one year | 29 | €98,260 | €115,563 | +€17,303 | +17.6% |
| Other amounts receivable | 291 | €98,260 | €115,563 | +€17,303 | +17.6% |
| Stocks and contracts in progress | 3 | €187,146 | €146,869 | -€40,277 | -21.5% |
| Stocks | 30/36 | €187,146 | €146,869 | -€40,277 | -21.5% |
| Amounts receivable within one year | 40/41 | €48,154 | €15,416 | -€32,737 | -68.0% |
| Trade receivables | 40 | €46,026 | €14,291 | -€31,735 | -69.0% |
| Other amounts receivable | 41 | €2,128 | €1,126 | -€1,002 | -47.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €18,341 | €463 | -€17,879 | -97.5% |
| Deferred charges and accrued income | 490/1 | €577 | €549 | -€29 | -5.0% |
| Total equity and liabilities | 10/49 | €352,791 | €279,067 | -€73,724 | -20.9% |
| Equity | 10/15 | €13,485 | €9,051 | -€4,434 | -32.9% |
| Contributions | 10/11 | €47,100 | €47,100 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€33,615 | -€38,049 | -€4,434 | -13.2% |
| Amounts payable | 17/49 | €339,306 | €270,016 | -€69,290 | -20.4% |
| Amounts payable after more than one year | 17 | €126,257 | €127,009 | +€752 | +0.6% |
| Financial debts | 170/4 | €13,333 | €24,264 | +€10,931 | +82.0% |
| Other amounts payable | 178/9 | €112,924 | €102,745 | -€10,179 | -9.0% |
| Amounts payable within one year | 42/48 | €212,923 | €143,007 | -€69,916 | -32.8% |
| Current portion of amounts payable after more than one year | 42 | €133,417 | €33,564 | -€99,853 | -74.8% |
| Financial debts | 43 | €5,889 | €76,283 | +€70,393 | +1195.2% |
| Credit institutions | 430/8 | €5,889 | €76,283 | +€70,393 | +1195.2% |
| Trade debts | 44 | €41,400 | €22,413 | -€18,987 | -45.9% |
| Suppliers | 440/4 | €41,400 | €22,413 | -€18,987 | -45.9% |
| Advances received on contracts in progress | 46 | €29,011 | €1,439 | -€27,573 | -95.0% |
| Taxes, remuneration and social security | 45 | €3,204 | €9,309 | +€6,105 | +190.5% |
| Taxes | 450/3 | €3,204 | €9,309 | +€6,105 | +190.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €127 | €0 | -€127 | -100.0% |
| Non-recurring operating income | 76A | €7,819 | €0 | -€7,819 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €286 | €105 | -€181 | -63.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€9,000 | -€9,000 | |
| Other operating charges | 640/8 | €2,258 | €1,252 | -€1,006 | -44.6% |
| Gross operating margin | 9900 | €9,602 | -€2,801 | -€12,402 | |
| Operating profit (loss) | 9901 | €7,058 | €4,843 | -€2,216 | -31.4% |
| Financial income | 75/76B | €7,889 | €3,291 | -€4,598 | -58.3% |
| Recurring financial income | 75 | €7,889 | €3,291 | -€4,598 | -58.3% |
| Financial charges | 65/66B | €14,594 | €12,567 | -€2,027 | -13.9% |
| Recurring financial charges | 65 | €14,594 | €12,567 | -€2,027 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €353 | -€4,434 | -€4,787 | |
| Profit (loss) for the period | 9904 | €353 | -€4,434 | -€4,787 | |
| Profit (loss) for the period to be appropriated | 9905 | €353 | -€4,434 | -€4,787 |
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 5 October 2026 via checked.be.