I - CLEARING: 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.
I - CLEARING
Largest movements
- Cash -€434,436
down €434,436 (-53.4%), from €813,586 to €379,151
mainly Trade debts (-€275,013) and Contributions, distributions and other (-€165,000)
- Receivables within one year +€161,420
up €161,420 (+22.4%), from €721,718 to €883,137
of which Other amounts receivable: +€200,293
- Trade debts -€275,013
down €275,013 (-51.8%), from €531,271 to €256,258
- Accrued charges and deferred income +€59,093
up €59,093 (+30.3%), from €194,775 to €253,868
- Short-term financial debts -€50,011
down €50,011 (-15.8%), from €315,921 to €265,909
- Gross operating margin +€50,324
up €50,324 (+10.7%), from €468,812 to €519,136
- Financial income -€41,788
down €41,788 (-100.0%), from €41,794 to €5
- Write-downs +€12,345
up €12,345, from €0 to €12,345
- Other operating charges +€11,325
up €11,325 (+881%), from €1,286 to €12,610
- Taxes -€8,070
down €8,070 (-52.2%), from €15,447 to €7,378
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 | €1,540,446 | €1,271,790 | -€268,656 | -17.4% |
| Fixed assets | 21/28 | €790 | €2,713 | +€1,923 | +243% |
| Tangible fixed assets | 22/27 | €420 | €2,343 | +€1,923 | +458% |
| Furniture and vehicles | 24 | - | €2,028 | +€2,028 | |
| Other tangible fixed assets | 26 | €420 | €315 | -€105 | -25.0% |
| Financial fixed assets | 28 | €370 | €370 | = | 0.0% |
| Current assets | 29/58 | €1,539,656 | €1,269,077 | -€270,579 | -17.6% |
| Amounts receivable within one year | 40/41 | €721,718 | €883,137 | +€161,420 | +22.4% |
| Trade receivables | 40 | €288,668 | €249,794 | -€38,873 | -13.5% |
| Other amounts receivable | 41 | €433,050 | €633,343 | +€200,293 | +46.3% |
| Cash at bank and in hand | 54/58 | €813,586 | €379,151 | -€434,436 | -53.4% |
| Deferred charges and accrued income | 490/1 | €4,352 | €6,789 | +€2,437 | +56.0% |
| Total equity and liabilities | 10/49 | €1,540,446 | €1,271,790 | -€268,656 | -17.4% |
| Equity | 10/15 | €238,760 | €241,588 | +€2,828 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,300 | €221,128 | +€2,828 | +1.3% |
| Amounts payable | 17/49 | €1,301,686 | €1,030,203 | -€271,484 | -20.9% |
| Amounts payable within one year | 42/48 | €1,106,912 | €776,335 | -€330,577 | -29.9% |
| Financial debts | 43 | €315,921 | €265,909 | -€50,011 | -15.8% |
| Credit institutions | 430/8 | €315,921 | €265,909 | -€50,011 | -15.8% |
| Trade debts | 44 | €531,271 | €256,258 | -€275,013 | -51.8% |
| Suppliers | 440/4 | €531,271 | €256,258 | -€275,013 | -51.8% |
| Advances received on contracts in progress | 46 | €34,920 | €37,676 | +€2,756 | +7.9% |
| Taxes, remuneration and social security | 45 | €47,605 | €49,296 | +€1,691 | +3.6% |
| Taxes | 450/3 | €14,329 | €12,863 | -€1,466 | -10.2% |
| Remuneration and social security | 454/9 | €33,276 | €36,432 | +€3,157 | +9.5% |
| Other amounts payable | 47/48 | €177,195 | €167,195 | -€10,000 | -5.6% |
| Accrued charges and deferred income | 492/3 | €194,775 | €253,868 | +€59,093 | +30.3% |
| Remuneration, social security and pensions | 62 | €301,021 | €296,233 | -€4,789 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105 | €605 | +€500 | +476% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €12,345 | +€12,345 | |
| Other operating charges | 640/8 | €1,286 | €12,610 | +€11,325 | +881% |
| Gross operating margin | 9900 | €468,812 | €519,136 | +€50,324 | +10.7% |
| Operating profit (loss) | 9901 | €166,400 | €197,342 | +€30,942 | +18.6% |
| Financial income | 75/76B | €41,794 | €5 | -€41,788 | -100.0% |
| Recurring financial income | 75 | €41,794 | €5 | -€41,788 | -100.0% |
| Financial charges | 65/66B | €27,811 | €22,142 | -€5,669 | -20.4% |
| Recurring financial charges | 65 | €27,811 | €22,142 | -€5,669 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €180,383 | €175,205 | -€5,178 | -2.9% |
| Income taxes | 67/77 | €15,447 | €7,378 | -€8,070 | -52.2% |
| Profit (loss) for the period | 9904 | €164,936 | €167,828 | +€2,892 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €164,936 | €167,828 | +€2,892 | +1.8% |
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.