KARL CLEMENT: 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.
KARL CLEMENT
Largest movements
- Cash +€3,682
up €3,682 (+430%), from €856 to €4,538
mainly Other debts (+€8,219) and Net result for the year (+€6,442)
- Tangible fixed assets +€1,694
up €1,694 (+12.5%), from €13,577 to €15,271
of which Land and buildings: +€1,291
- Reserves -€8,219
down €8,219 (-45.0%), from €18,278 to €10,059
of which Distributable reserves: -€8,219
- Other debts +€8,219
new in 2025: €8,219
- Profit (loss) carried forward +€6,442
up €6,442 (+45.7%), from -€14,090 to -€7,647
- Trade debts -€1,589
down €1,589 (-100%), from €1,589 to €0
- Tax, wage and social debts +€325
up €325 (+187%), from €174 to €500
- Gross operating margin +€20,265
up €20,265, from -€8,840 to €11,425
- Depreciation -€6,949
down €6,949 (-80.3%), from €8,659 to €1,710
- Other operating charges +€1,920
up €1,920 (+201%), from €957 to €2,878
- Taxes -€174
down €174 (-100%), from €174 to €0
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 | €24,551 | €29,731 | +€5,179 | +21.1% |
| Fixed assets | 21/28 | €13,577 | €15,271 | +€1,694 | +12.5% |
| Tangible fixed assets | 22/27 | €13,577 | €15,271 | +€1,694 | +12.5% |
| Land and buildings | 22 | €12,758 | €14,049 | +€1,291 | +10.1% |
| Plant, machinery and equipment | 23 | €107 | €208 | +€101 | +94.2% |
| Furniture and vehicles | 24 | €712 | €1,015 | +€303 | +42.5% |
| Current assets | 29/58 | €10,974 | €14,459 | +€3,485 | +31.8% |
| Amounts receivable within one year | 40/41 | €9,942 | €9,921 | -€20 | -0.2% |
| Trade receivables | 40 | €3,049 | €1,452 | -€1,597 | -52.4% |
| Other amounts receivable | 41 | €6,892 | €8,469 | +€1,577 | +22.9% |
| Cash at bank and in hand | 54/58 | €856 | €4,538 | +€3,682 | +430% |
| Deferred charges and accrued income | 490/1 | €177 | €0 | -€177 | -100% |
| Total equity and liabilities | 10/49 | €24,551 | €29,731 | +€5,179 | +21.1% |
| Equity | 10/15 | €22,788 | €21,012 | -€1,777 | -7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,278 | €10,059 | -€8,219 | -45.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €46 | €46 | = | 0.0% |
| Distributable reserves | 133 | €18,232 | €10,013 | -€8,219 | -45.1% |
| Profit (loss) carried forward | 14 | -€14,090 | -€7,647 | +€6,442 | +45.7% |
| Amounts payable | 17/49 | €1,763 | €8,719 | +€6,956 | +395% |
| Amounts payable within one year | 42/48 | €1,763 | €8,719 | +€6,956 | +395% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,589 | €0 | -€1,589 | -100% |
| Suppliers | 440/4 | €1,589 | €0 | -€1,589 | -100% |
| Taxes, remuneration and social security | 45 | €174 | €500 | +€325 | +187% |
| Taxes | 450/3 | €174 | €500 | +€325 | +187% |
| Other amounts payable | 47/48 | - | €8,219 | +€8,219 | |
| Non-recurring operating income | 76A | - | €3,404 | +€3,404 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,659 | €1,710 | -€6,949 | -80.3% |
| Other operating charges | 640/8 | €957 | €2,878 | +€1,920 | +201% |
| Gross operating margin | 9900 | -€8,840 | €11,425 | +€20,265 | |
| Operating profit (loss) | 9901 | -€18,456 | €6,838 | +€25,294 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €311 | €396 | +€84 | +27.1% |
| Recurring financial charges | 65 | €311 | €396 | +€84 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,764 | €6,442 | +€25,206 | |
| Income taxes | 67/77 | €174 | €0 | -€174 | -100% |
| Profit (loss) for the period | 9904 | -€18,938 | €6,442 | +€25,381 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,938 | €6,442 | +€25,381 |
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 29 October 2026 via checked.be.