Du Tré-Claerman: 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.
Du Tré-Claerman
Largest movements
- Financial fixed assets +€1.3m
new in 2025: €1.3m
- Cash +€57,673
up €57,673 (+636%), from €9,066 to €66,739
mainly Debts after one year (+€1.1m) and Current portion of long-term debt (+€104,142)
- Receivables within one year -€15,568
down €15,568 (-70.9%), from €21,954 to €6,386
of which Trade receivables: -€19,141
- Debts after one year +€1.1m
up €1.1m (+3,067%), from €35,804 to €1.1m
- Current portion of long-term debt +€104,142
up €104,142 (+1,003%), from €10,388 to €114,530
- Short-term financial debts +€50,000
new in 2025: €50,000
- Profit (loss) carried forward +€33,408
up €33,408 (+119%), from €28,040 to €61,448
- Gross operating margin +€7,322
up €7,322 (+14.6%), from €50,178 to €57,500
- Taxes +€1,541
up €1,541 (+19.5%), from €7,887 to €9,427
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 | €81,801 | €1,374,832 | +€1.3m | +1,581% |
| Fixed assets | 21/28 | €48,553 | €1,298,948 | +€1.3m | +2,575% |
| Tangible fixed assets | 22/27 | €48,553 | €36,473 | -€12,080 | -24.9% |
| Furniture and vehicles | 24 | €48,553 | €36,473 | -€12,080 | -24.9% |
| Financial fixed assets | 28 | - | €1,262,475 | +€1.3m | |
| Current assets | 29/58 | €33,248 | €75,884 | +€42,636 | +128% |
| Amounts receivable within one year | 40/41 | €21,954 | €6,386 | -€15,568 | -70.9% |
| Trade receivables | 40 | €19,841 | €700 | -€19,141 | -96.5% |
| Other amounts receivable | 41 | €2,113 | €5,686 | +€3,573 | +169% |
| Cash at bank and in hand | 54/58 | €9,066 | €66,739 | +€57,673 | +636% |
| Deferred charges and accrued income | 490/1 | €2,228 | €2,759 | +€531 | +23.8% |
| Total equity and liabilities | 10/49 | €81,801 | €1,374,832 | +€1.3m | +1,581% |
| Equity | 10/15 | €33,040 | €66,448 | +€33,408 | +101% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,040 | €61,448 | +€33,408 | +119% |
| Amounts payable | 17/49 | €48,761 | €1,308,384 | +€1.3m | +2,583% |
| Amounts payable after more than one year | 17 | €35,804 | €1,133,749 | +€1.1m | +3,067% |
| Financial debts | 170/4 | €35,804 | €1,133,749 | +€1.1m | +3,067% |
| Amounts payable within one year | 42/48 | €12,957 | €174,635 | +€161,677 | +1,248% |
| Current portion of amounts payable after more than one year | 42 | €10,388 | €114,530 | +€104,142 | +1,003% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Other loans | 439 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €2,402 | €8,627 | +€6,225 | +259% |
| Suppliers | 440/4 | €2,402 | €8,627 | +€6,225 | +259% |
| Taxes, remuneration and social security | 45 | €167 | €1,478 | +€1,311 | +785% |
| Taxes | 450/3 | €167 | €1,478 | +€1,311 | +785% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,849 | €12,080 | +€232 | +2.0% |
| Other operating charges | 640/8 | - | €127 | +€127 | |
| Gross operating margin | 9900 | €50,178 | €57,500 | +€7,322 | +14.6% |
| Operating profit (loss) | 9901 | €38,329 | €45,293 | +€6,963 | +18.2% |
| Financial charges | 65/66B | €2,403 | €2,457 | +€54 | +2.2% |
| Recurring financial charges | 65 | €2,403 | €2,457 | +€54 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €35,926 | €42,836 | +€6,909 | +19.2% |
| Income taxes | 67/77 | €7,887 | €9,427 | +€1,541 | +19.5% |
| Profit (loss) for the period | 9904 | €28,040 | €33,408 | +€5,369 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,040 | €33,408 | +€5,369 | +19.1% |
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 19 October 2026 via checked.be.