Francis Claudio: 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.
Francis Claudio
Largest movements
- Receivables within one year +€44,253
up €44,253 (+292%), from €15,163 to €59,416
of which Other amounts receivable: +€33,176
- Cash -€12,684
down €12,684 (-52.8%), from €24,035 to €11,351
mainly Receivables within one year (-€44,253) and Current portion of long-term debt (-€3,296)
- Receivables after one year -€3,273
down €3,273 (-3.9%), from €83,192 to €79,919
of which Other amounts receivable: -€83,192
- Reserves +€27,774
up €27,774 (+25.6%), from €108,591 to €136,365
- Current portion of long-term debt -€3,296
no longer reported in 2025 (was €3,296)
- Tax, wage and social debts +€2,964
up €2,964 (+35.1%), from €8,444 to €11,408
- Gross operating margin +€18,514
up €18,514 (+85.6%), from €21,635 to €40,149
- Taxes +€3,510
up €3,510 (+80.1%), from €4,380 to €7,890
- Financial income -€2,692
no longer reported in 2025 (was €2,692)
- Financial charges +€1,245
up €1,245 (+43.0%), from €2,895 to €4,140
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 | €122,391 | €150,686 | +€28,295 | +23.1% |
| Current assets | 29/58 | €122,391 | €150,686 | +€28,295 | +23.1% |
| Amounts receivable after more than one year | 29 | €83,192 | €79,919 | -€3,273 | -3.9% |
| Trade receivables | 290 | - | €79,919 | +€79,919 | |
| Other amounts receivable | 291 | €83,192 | - | -€83,192 | |
| Amounts receivable within one year | 40/41 | €15,163 | €59,416 | +€44,253 | +292% |
| Trade receivables | 40 | €14,157 | €25,234 | +€11,077 | +78.2% |
| Other amounts receivable | 41 | €1,006 | €34,182 | +€33,176 | +3,297% |
| Cash at bank and in hand | 54/58 | €24,035 | €11,351 | -€12,684 | -52.8% |
| Total equity and liabilities | 10/49 | €122,391 | €150,686 | +€28,295 | +23.1% |
| Equity | 10/15 | €110,091 | €137,865 | +€27,774 | +25.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €108,591 | €136,365 | +€27,774 | +25.6% |
| Distributable reserves | 133 | €108,591 | €136,365 | +€27,774 | +25.6% |
| Amounts payable | 17/49 | €12,300 | €12,821 | +€521 | +4.2% |
| Amounts payable within one year | 42/48 | €12,300 | €12,821 | +€521 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €3,296 | - | -€3,296 | |
| Trade debts | 44 | €559 | €1,413 | +€854 | +153% |
| Suppliers | 440/4 | €559 | €1,413 | +€854 | +153% |
| Taxes, remuneration and social security | 45 | €8,444 | €11,408 | +€2,964 | +35.1% |
| Taxes | 450/3 | €8,444 | €11,408 | +€2,964 | +35.1% |
| Other operating charges | 640/8 | €274 | €345 | +€71 | +25.8% |
| Gross operating margin | 9900 | €21,635 | €40,149 | +€18,514 | +85.6% |
| Operating profit (loss) | 9901 | €21,361 | €39,804 | +€18,443 | +86.3% |
| Financial income | 75/76B | €2,692 | - | -€2,692 | |
| Recurring financial income | 75 | €2,692 | - | -€2,692 | |
| Financial charges | 65/66B | €2,895 | €4,140 | +€1,245 | +43.0% |
| Recurring financial charges | 65 | €2,895 | €4,140 | +€1,245 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €21,158 | €35,664 | +€14,506 | +68.6% |
| Income taxes | 67/77 | €4,380 | €7,890 | +€3,510 | +80.1% |
| Profit (loss) for the period | 9904 | €16,777 | €27,774 | +€10,996 | +65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,777 | €27,774 | +€10,996 | +65.5% |
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 26 October 2026 via checked.be.