KLAVER ZEVEN: 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.
KLAVER ZEVEN
Largest movements
- Tangible fixed assets +€378,236
up €378,236 (+20.9%), from €1.8m to €2.2m
- Cash -€49,053
down €49,053 (-68.9%), from €71,211 to €22,158
mainly Investment in fixed assets (net) (-€486,920) and Net result for the year (-€40,839)
- Debts after one year +€311,112
up €311,112 (+22.8%), from €1.4m to €1.7m
- Other debts +€53,576
up €53,576 (+27.7%), from €193,533 to €247,109
- Profit (loss) carried forward -€40,839
down €40,839 (-28.7%), from -€142,188 to -€183,028
- Financial charges +€20,552
up €20,552 (+72.3%), from €28,435 to €48,987
- Depreciation +€12,464
up €12,464 (+13.0%), from €95,776 to €108,240
- Gross operating margin +€10,297
up €10,297 (+8.8%), from €117,409 to €127,706
- Other operating charges +€2,569
up €2,569 (+30.3%), from €8,493 to €11,062
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 | €1,882,144 | €2,215,876 | +€333,732 | +17.7% |
| Fixed assets | 21/28 | €1,807,131 | €2,185,811 | +€378,680 | +21.0% |
| Tangible fixed assets | 22/27 | €1,806,651 | €2,184,887 | +€378,236 | +20.9% |
| Land and buildings | 22 | €1,806,651 | €2,184,887 | +€378,236 | +20.9% |
| Financial fixed assets | 28 | €481 | €925 | +€444 | +92.5% |
| Current assets | 29/58 | €75,013 | €30,065 | -€44,948 | -59.9% |
| Amounts receivable within one year | 40/41 | €310 | €54 | -€256 | -82.6% |
| Trade receivables | 40 | €310 | €54 | -€256 | -82.6% |
| Cash at bank and in hand | 54/58 | €71,211 | €22,158 | -€49,053 | -68.9% |
| Deferred charges and accrued income | 490/1 | €3,493 | €7,853 | +€4,361 | +125% |
| Total equity and liabilities | 10/49 | €1,882,144 | €2,215,876 | +€333,732 | +17.7% |
| Equity | 10/15 | €247,922 | €207,082 | -€40,839 | -16.5% |
| Contributions | 10/11 | €129,614 | €129,614 | = | 0.0% |
| Revaluation surpluses | 12 | €260,422 | €260,422 | = | 0.0% |
| Reserves | 13 | €74 | €74 | = | 0.0% |
| Non-distributable reserves | 130/1 | €74 | €74 | = | 0.0% |
| Reserves not available under the articles | 1311 | €74 | €74 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,188 | -€183,028 | -€40,839 | -28.7% |
| Amounts payable | 17/49 | €1,634,223 | €2,008,794 | +€374,571 | +22.9% |
| Amounts payable after more than one year | 17 | €1,364,252 | €1,675,364 | +€311,112 | +22.8% |
| Financial debts | 170/4 | €1,364,252 | €1,675,364 | +€311,112 | +22.8% |
| Amounts payable within one year | 42/48 | €260,577 | €318,052 | +€57,475 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €50,012 | €63,779 | +€13,767 | +27.5% |
| Trade debts | 44 | €1,939 | €715 | -€1,224 | -63.1% |
| Suppliers | 440/4 | €1,939 | €715 | -€1,224 | -63.1% |
| Advances received on contracts in progress | 46 | €4,082 | - | -€4,082 | |
| Taxes, remuneration and social security | 45 | €11,012 | €6,450 | -€4,561 | -41.4% |
| Taxes | 450/3 | €11,012 | €6,450 | -€4,561 | -41.4% |
| Other amounts payable | 47/48 | €193,533 | €247,109 | +€53,576 | +27.7% |
| Accrued charges and deferred income | 492/3 | €9,394 | €15,377 | +€5,983 | +63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,776 | €108,240 | +€12,464 | +13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €256 | +€256 | |
| Other operating charges | 640/8 | €8,493 | €11,062 | +€2,569 | +30.3% |
| Gross operating margin | 9900 | €117,409 | €127,706 | +€10,297 | +8.8% |
| Operating profit (loss) | 9901 | €13,141 | €8,148 | -€4,993 | -38.0% |
| Financial charges | 65/66B | €28,435 | €48,987 | +€20,552 | +72.3% |
| Recurring financial charges | 65 | €28,435 | €48,987 | +€20,552 | +72.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,294 | -€40,839 | -€25,545 | -167% |
| Profit (loss) for the period | 9904 | -€15,294 | -€40,839 | -€25,545 | -167% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,294 | -€40,839 | -€25,545 | -167% |
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 27 October 2026 via checked.be.