KLAVERTJE-VIER: what changed
KLAVERTJE-VIER
Largest movements
- Cash +€18,147
up €18,147 (+16.8%), from €107,902 to €126,049
mainly Net result for the year (+€26,050) and Tax, wage and social debts (+€19,228)
- Receivables within one year +€8,931
up €8,931 (+22.9%), from €39,032 to €47,963
- Intangible fixed assets +€7,577
new in 2025: €7,577
- Tangible fixed assets -€5,136
down €5,136 (-27.6%), from €18,598 to €13,462
of which Other tangible fixed assets: -€2,753
- Deferred charges and accrued income +€5,019
up €5,019 (+150%), from €3,340 to €8,359
- Reserves +€26,050
up €26,050 (+50.1%), from €52,001 to €78,050
- Tax, wage and social debts +€19,228
up €19,228 (+24.5%), from €78,493 to €97,721
of which Taxes: +€18,941
- Trade debts +€15,650
up €15,650 (+30.5%), from €51,370 to €67,020
- Other debts -€11,895
down €11,895 (-83.1%), from €14,315 to €2,420
- Debts after one year -€8,046
down €8,046 (-44.6%), from €18,046 to €10,000
- Gross operating margin +€20,544
up €20,544 (+9.1%), from €225,993 to €246,538
- Taxes +€6,882
up €6,882 (+195%), from €3,522 to €10,404
- Staff costs +€5,148
up €5,148 (+2.6%), from €195,488 to €200,636
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,075 | €313,258 | +€34,183 | +12.2% |
| Fixed assets | 21/28 | €32,263 | €34,704 | +€2,441 | +7.6% |
| Intangible fixed assets | 21 | - | €7,577 | +€7,577 | |
| Tangible fixed assets | 22/27 | €18,598 | €13,462 | -€5,136 | -27.6% |
| Plant, machinery and equipment | 23 | €7,077 | €4,694 | -€2,382 | -33.7% |
| Other tangible fixed assets | 26 | €11,522 | €8,768 | -€2,753 | -23.9% |
| Financial fixed assets | 28 | €13,665 | €13,665 | = | 0.0% |
| Current assets | 29/58 | €246,811 | €278,554 | +€31,743 | +12.9% |
| Stocks and contracts in progress | 3 | €96,538 | €96,183 | -€355 | -0.4% |
| Stocks | 30/36 | €96,538 | €96,183 | -€355 | -0.4% |
| Amounts receivable within one year | 40/41 | €39,032 | €47,963 | +€8,931 | +22.9% |
| Trade receivables | 40 | €39,032 | €47,963 | +€8,931 | +22.9% |
| Cash at bank and in hand | 54/58 | €107,902 | €126,049 | +€18,147 | +16.8% |
| Deferred charges and accrued income | 490/1 | €3,340 | €8,359 | +€5,019 | +150% |
| Total equity and liabilities | 10/49 | €279,075 | €313,258 | +€34,183 | +12.2% |
| Equity | 10/15 | €102,001 | €128,050 | +€26,050 | +25.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €52,001 | €78,050 | +€26,050 | +50.1% |
| Distributable reserves | 133 | €52,001 | €78,050 | +€26,050 | +50.1% |
| Amounts payable | 17/49 | €177,074 | €185,208 | +€8,134 | +4.6% |
| Amounts payable after more than one year | 17 | €18,046 | €10,000 | -€8,046 | -44.6% |
| Financial debts | 170/4 | €18,046 | €10,000 | -€8,046 | -44.6% |
| Amounts payable within one year | 42/48 | €153,757 | €175,208 | +€21,451 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €9,579 | €8,046 | -€1,533 | -16.0% |
| Trade debts | 44 | €51,370 | €67,020 | +€15,650 | +30.5% |
| Suppliers | 440/4 | €51,370 | €67,020 | +€15,650 | +30.5% |
| Taxes, remuneration and social security | 45 | €78,493 | €97,721 | +€19,228 | +24.5% |
| Taxes | 450/3 | €35,283 | €54,224 | +€18,941 | +53.7% |
| Remuneration and social security | 454/9 | €43,210 | €43,497 | +€288 | +0.7% |
| Other amounts payable | 47/48 | €14,315 | €2,420 | -€11,895 | -83.1% |
| Accrued charges and deferred income | 492/3 | €5,271 | - | -€5,271 | |
| Remuneration, social security and pensions | 62 | €195,488 | €200,636 | +€5,148 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,643 | €6,309 | +€667 | +11.8% |
| Other operating charges | 640/8 | €3,740 | €3,827 | +€87 | +2.3% |
| Gross operating margin | 9900 | €225,993 | €246,538 | +€20,544 | +9.1% |
| Operating profit (loss) | 9901 | €21,123 | €35,765 | +€14,643 | +69.3% |
| Financial income | 75/76B | €1,137 | €1,760 | +€623 | +54.8% |
| Recurring financial income | 75 | €1,137 | €1,760 | +€623 | +54.8% |
| Financial charges | 65/66B | €1,791 | €1,072 | -€719 | -40.1% |
| Recurring financial charges | 65 | €1,791 | €1,072 | -€719 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €20,469 | €36,454 | +€15,984 | +78.1% |
| Income taxes | 67/77 | €3,522 | €10,404 | +€6,882 | +195% |
| Profit (loss) for the period | 9904 | €16,947 | €26,050 | +€9,102 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,947 | €26,050 | +€9,102 | +53.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.