Dr. Cleys Anthony: 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.
Dr. Cleys Anthony
Largest movements
- Tangible fixed assets +€292,824
up €292,824 (+23.8%), from €1.2m to €1.5m
of which Assets under construction and advance payments: +€263,188
- Cash +€78,933
up €78,933 (+187%), from €42,223 to €121,156
mainly Debts after one year (+€251,402) and Net result for the year (+€151,381)
- Debts after one year +€251,402
up €251,402 (+150%), from €167,641 to €419,043
of which Financial debts: +€251,576
- Reserves +€98,186
up €98,186 (+9.4%), from €1.0m to €1.1m
- Current portion of long-term debt +€30,241
up €30,241 (+170%), from €17,739 to €47,980
- Trade debts +€17,545
up €17,545 (+222%), from €7,915 to €25,460
- Depreciation +€44,155
up €44,155 (+62.8%), from €70,265 to €114,420
- Gross operating margin +€34,681
up €34,681 (+10.9%), from €319,273 to €353,954
- Taxes -€6,249
down €6,249 (-8.8%), from €71,296 to €65,047
- Financial charges +€6,206
up €6,206 (+74.0%), from €8,390 to €14,596
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 | €1,282,385 | €1,662,683 | +€380,298 | +29.7% |
| Fixed assets | 21/28 | €1,231,614 | €1,524,438 | +€292,824 | +23.8% |
| Tangible fixed assets | 22/27 | €1,231,614 | €1,524,438 | +€292,824 | +23.8% |
| Land and buildings | 22 | €1,120,570 | €1,084,106 | -€36,463 | -3.3% |
| Plant, machinery and equipment | 23 | €14,430 | €9,403 | -€5,027 | -34.8% |
| Furniture and vehicles | 24 | €96,613 | €167,740 | +€71,126 | +73.6% |
| Assets under construction and advance payments | 27 | - | €263,188 | +€263,188 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €50,772 | €138,245 | +€87,474 | +172% |
| Amounts receivable within one year | 40/41 | €6,550 | €14,328 | +€7,778 | +119% |
| Trade receivables | 40 | €6,550 | €6,362 | -€188 | -2.9% |
| Other amounts receivable | 41 | - | €7,966 | +€7,966 | |
| Cash at bank and in hand | 54/58 | €42,223 | €121,156 | +€78,933 | +187% |
| Deferred charges and accrued income | 490/1 | €1,998 | €2,760 | +€762 | +38.2% |
| Total equity and liabilities | 10/49 | €1,282,385 | €1,662,683 | +€380,298 | +29.7% |
| Equity | 10/15 | €1,065,228 | €1,163,414 | +€98,186 | +9.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,046,678 | €1,144,864 | +€98,186 | +9.4% |
| Distributable reserves | 133 | €1,046,678 | €1,144,864 | +€98,186 | +9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €217,157 | €499,269 | +€282,112 | +130% |
| Amounts payable after more than one year | 17 | €167,641 | €419,043 | +€251,402 | +150% |
| Financial debts | 170/4 | €70,617 | €322,192 | +€251,576 | +356% |
| Other amounts payable | 178/9 | €97,024 | €96,850 | -€174 | -0.2% |
| Amounts payable within one year | 42/48 | €47,825 | €80,226 | +€32,401 | +67.7% |
| Current portion of amounts payable after more than one year | 42 | €17,739 | €47,980 | +€30,241 | +170% |
| Trade debts | 44 | €7,915 | €25,460 | +€17,545 | +222% |
| Suppliers | 440/4 | €7,915 | €25,460 | +€17,545 | +222% |
| Taxes, remuneration and social security | 45 | €18,046 | €2,036 | -€16,010 | -88.7% |
| Taxes | 450/3 | €18,046 | €2,036 | -€16,010 | -88.7% |
| Other amounts payable | 47/48 | €4,126 | €4,751 | +€625 | +15.2% |
| Accrued charges and deferred income | 492/3 | €1,691 | €0 | -€1,691 | -100% |
| Non-recurring operating income | 76A | €0 | €7,500 | +€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,265 | €114,420 | +€44,155 | +62.8% |
| Other operating charges | 640/8 | €5,351 | €8,051 | +€2,700 | +50.5% |
| Non-recurring operating charges | 66A | - | €504 | +€504 | |
| Gross operating margin | 9900 | €319,273 | €353,954 | +€34,681 | +10.9% |
| Operating profit (loss) | 9901 | €243,658 | €230,979 | -€12,679 | -5.2% |
| Financial income | 75/76B | €99 | €45 | -€54 | -54.3% |
| Recurring financial income | 75 | €99 | €45 | -€54 | -54.3% |
| Financial charges | 65/66B | €8,390 | €14,596 | +€6,206 | +74.0% |
| Recurring financial charges | 65 | €8,390 | €14,596 | +€6,206 | +74.0% |
| Profit (loss) for the period before taxes | 9903 | €235,367 | €216,429 | -€18,939 | -8.0% |
| Income taxes | 67/77 | €71,296 | €65,047 | -€6,249 | -8.8% |
| Profit (loss) for the period | 9904 | €164,071 | €151,381 | -€12,690 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €164,071 | €151,381 | -€12,690 | -7.7% |
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 15 October 2026 via checked.be.