De Klapstoel: 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 Klapstoel
Largest movements
- Cash +€191,214
up €191,214 (+208%), from €91,825 to €283,039
mainly Net result for the year (+€138,680) and Tax, wage and social debts (+€43,746)
- Receivables within one year -€33,717
down €33,717 (-41.5%), from €81,341 to €47,625
of which Trade receivables: -€33,479
- Current investments +€20,000
new in 2025: €20,000
- Reserves +€138,680
up €138,680 (+112%), from €124,267 to €262,947
- Tax, wage and social debts +€43,746
up €43,746 (+120%), from €36,378 to €80,124
- Other debts -€5,349
down €5,349 (-60.9%), from €8,777 to €3,428
- Gross operating margin +€26,655
up €26,655 (+16.4%), from €162,057 to €188,712
- Taxes +€7,679
up €7,679 (+21.2%), from €36,223 to €43,902
- Other operating charges +€5,142
up €5,142 (+1,789%), from €288 to €5,430
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 | €174,422 | €351,499 | +€177,077 | +102% |
| Fixed assets | 21/28 | €1,256 | €601 | -€656 | -52.2% |
| Tangible fixed assets | 22/27 | €1,256 | €601 | -€656 | -52.2% |
| Plant, machinery and equipment | 23 | €1,256 | €601 | -€656 | -52.2% |
| Current assets | 29/58 | €173,166 | €350,899 | +€177,733 | +103% |
| Amounts receivable within one year | 40/41 | €81,341 | €47,625 | -€33,717 | -41.5% |
| Trade receivables | 40 | €81,104 | €47,625 | -€33,479 | -41.3% |
| Other amounts receivable | 41 | €237 | - | -€237 | |
| Current investments | 50/53 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €91,825 | €283,039 | +€191,214 | +208% |
| Deferred charges and accrued income | 490/1 | - | €235 | +€235 | |
| Total equity and liabilities | 10/49 | €174,422 | €351,499 | +€177,077 | +102% |
| Equity | 10/15 | €129,267 | €267,947 | +€138,680 | +107% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €124,267 | €262,947 | +€138,680 | +112% |
| Distributable reserves | 133 | €124,267 | €262,947 | +€138,680 | +112% |
| Amounts payable | 17/49 | €45,155 | €83,552 | +€38,397 | +85.0% |
| Amounts payable within one year | 42/48 | €45,155 | €83,552 | +€38,397 | +85.0% |
| Taxes, remuneration and social security | 45 | €36,378 | €80,124 | +€43,746 | +120% |
| Taxes | 450/3 | €36,378 | €80,124 | +€43,746 | +120% |
| Other amounts payable | 47/48 | €8,777 | €3,428 | -€5,349 | -60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €711 | €656 | -€56 | -7.8% |
| Other operating charges | 640/8 | €288 | €5,430 | +€5,142 | +1,789% |
| Gross operating margin | 9900 | €162,057 | €188,712 | +€26,655 | +16.4% |
| Operating profit (loss) | 9901 | €161,058 | €182,627 | +€21,569 | +13.4% |
| Financial charges | 65/66B | €568 | €45 | -€523 | -92.0% |
| Recurring financial charges | 65 | €568 | €45 | -€523 | -92.0% |
| Profit (loss) for the period before taxes | 9903 | €160,490 | €182,581 | +€22,092 | +13.8% |
| Income taxes | 67/77 | €36,223 | €43,902 | +€7,679 | +21.2% |
| Profit (loss) for the period | 9904 | €124,267 | €138,680 | +€14,413 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €124,267 | €138,680 | +€14,413 | +11.6% |
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 25 October 2026 via checked.be.