IVAN CLAUS: 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.
IVAN CLAUS
Largest movements
- Cash +€17,794
up €17,794 (+35.1%), from €50,727 to €68,521
mainly Net result for the year (+€13,810) and Depreciation (+€11,363)
- Tangible fixed assets -€11,363
down €11,363 (-25.4%), from €44,742 to €33,379
of which Furniture and vehicles: -€11,263
- Receivables within one year -€8,886
down €8,886 (-59.0%), from €15,051 to €6,165
of which Trade receivables: -€8,342
- Stocks and contracts -€7,472
down €7,472 (-7.1%), from €105,875 to €98,402
- Trade debts -€27,223
down €27,223 (-70.7%), from €38,498 to €11,275
- Reserves +€13,810
up €13,810 (+6.4%), from €215,136 to €228,946
of which Distributable reserves: +€13,810
- Debts after one year -€5,000
down €5,000 (-9.1%), from €54,749 to €49,749
of which Financial debts: -€51,000
- Accrued charges and deferred income +€4,791
up €4,791 (+376%), from €1,275 to €6,066
- Gross operating margin -€16,583
down €16,583 (-25.7%), from €64,539 to €47,956
- Taxes -€6,705
down €6,705 (-42.8%), from €15,649 to €8,945
- Financial charges +€3,619
up €3,619 (+79.2%), from €4,570 to €8,189
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 | €430,628 | €418,957 | -€11,671 | -2.7% |
| Fixed assets | 21/28 | €45,122 | €33,379 | -€11,743 | -26.0% |
| Tangible fixed assets | 22/27 | €44,742 | €33,379 | -€11,363 | -25.4% |
| Plant, machinery and equipment | 23 | €249 | €149 | -€100 | -40.2% |
| Furniture and vehicles | 24 | €44,494 | €33,230 | -€11,263 | -25.3% |
| Financial fixed assets | 28 | €380 | €0 | -€380 | -100% |
| Current assets | 29/58 | €385,505 | €385,578 | +€73 | 0.0% |
| Stocks and contracts in progress | 3 | €105,875 | €98,402 | -€7,472 | -7.1% |
| Stocks | 30/36 | €105,875 | €98,402 | -€7,472 | -7.1% |
| Amounts receivable within one year | 40/41 | €15,051 | €6,165 | -€8,886 | -59.0% |
| Trade receivables | 40 | €14,077 | €5,734 | -€8,342 | -59.3% |
| Other amounts receivable | 41 | €974 | €431 | -€544 | -55.8% |
| Current investments | 50/53 | €210,036 | €210,000 | -€36 | 0.0% |
| Cash at bank and in hand | 54/58 | €50,727 | €68,521 | +€17,794 | +35.1% |
| Deferred charges and accrued income | 490/1 | €3,817 | €2,489 | -€1,328 | -34.8% |
| Total equity and liabilities | 10/49 | €430,628 | €418,957 | -€11,671 | -2.7% |
| Equity | 10/15 | €284,136 | €297,946 | +€13,810 | +4.9% |
| Contributions | 10/11 | €69,000 | €69,000 | = | 0.0% |
| Reserves | 13 | €215,136 | €228,946 | +€13,810 | +6.4% |
| Tax-exempt reserves | 132 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €206,136 | €219,946 | +€13,810 | +6.7% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €146,492 | €121,011 | -€25,481 | -17.4% |
| Amounts payable after more than one year | 17 | €54,749 | €49,749 | -€5,000 | -9.1% |
| Financial debts | 170/4 | €54,749 | €3,749 | -€51,000 | -93.2% |
| Other amounts payable | 178/9 | - | €46,000 | +€46,000 | |
| Amounts payable within one year | 42/48 | €90,468 | €65,195 | -€25,272 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Financial debts | 43 | - | €2 | +€2 | |
| Credit institutions | 430/8 | - | €2 | +€2 | |
| Trade debts | 44 | €38,498 | €11,275 | -€27,223 | -70.7% |
| Suppliers | 440/4 | €38,498 | €11,275 | -€27,223 | -70.7% |
| Taxes, remuneration and social security | 45 | €7,442 | €9,989 | +€2,547 | +34.2% |
| Taxes | 450/3 | €7,442 | €9,989 | +€2,547 | +34.2% |
| Other amounts payable | 47/48 | €39,527 | €38,929 | -€598 | -1.5% |
| Accrued charges and deferred income | 492/3 | €1,275 | €6,066 | +€4,791 | +376% |
| Non-recurring operating income | 76A | €4,959 | €0 | -€4,959 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,180 | €11,363 | +€184 | +1.6% |
| Other operating charges | 640/8 | €5,485 | €5,920 | +€435 | +7.9% |
| Gross operating margin | 9900 | €64,539 | €47,956 | -€16,583 | -25.7% |
| Operating profit (loss) | 9901 | €47,875 | €30,673 | -€17,202 | -35.9% |
| Financial income | 75/76B | €382 | €270 | -€112 | -29.2% |
| Recurring financial income | 75 | €382 | €270 | -€112 | -29.2% |
| Financial charges | 65/66B | €4,570 | €8,189 | +€3,619 | +79.2% |
| Recurring financial charges | 65 | €4,570 | €8,189 | +€3,619 | +79.2% |
| Profit (loss) for the period before taxes | 9903 | €43,687 | €22,755 | -€20,932 | -47.9% |
| Income taxes | 67/77 | €15,649 | €8,945 | -€6,705 | -42.8% |
| Profit (loss) for the period | 9904 | €28,037 | €13,810 | -€14,227 | -50.7% |
| Transfer from tax-exempt reserves | 789 | €750 | €0 | -€750 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €28,788 | €13,810 | -€14,977 | -52.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.