KLEVER: what changed
Two fiscal 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.
KLEVER
Largest movements
- Receivables within one year -€106,605
down €106,605 (-9.1%), from €1.2m to €1.1m
of which Trade receivables: -€103,797
- Cash -€47,208
down €47,208 (-15.0%), from €315,697 to €268,489
mainly Contributions, distributions and other (-€318,963) and Trade debts (-€106,189)
- Tangible fixed assets -€40,199
down €40,199 (-14.6%), from €275,001 to €234,802
of which Furniture and vehicles: -€65,703
- Deferred charges and accrued income +€20,079
up €20,079 (+19.7%), from €101,983 to €122,062
- Trade debts -€106,189
down €106,189 (-11.8%), from €903,450 to €797,261
- Tax, wage and social debts -€55,307
down €55,307 (-18.5%), from €298,319 to €243,012
of which Remuneration and social security: -€27,663
- Other debts -€29,081
down €29,081 (-8.4%), from €348,044 to €318,963
- Current portion of long-term debt +€22,892
up €22,892 (+40.4%), from €56,731 to €79,623
- Debts after one year -€20,927
down €20,927 (-17.8%), from €117,543 to €96,617
- Gross operating margin +€117,161
up €117,161 (+7.8%), from €1.5m to €1.6m
- Staff costs +€88,198
up €88,198 (+9.5%), from €925,697 to €1.0m
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.
Cash bridge derived
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 | €1,946,797 | €1,763,955 | -€182,842 | -9.4% |
| Formation expenses | 20 | €4,001 | €2,587 | -€1,414 | -35.3% |
| Fixed assets | 21/28 | €348,585 | €300,891 | -€47,694 | -13.7% |
| Intangible fixed assets | 21 | €72,671 | €65,177 | -€7,494 | -10.3% |
| Tangible fixed assets | 22/27 | €275,001 | €234,802 | -€40,199 | -14.6% |
| Plant, machinery and equipment | 23 | €1,558 | €26,750 | +€25,192 | +1616.4% |
| Furniture and vehicles | 24 | €211,963 | €146,260 | -€65,703 | -31.0% |
| Other tangible fixed assets | 26 | €61,480 | €61,792 | +€312 | +0.5% |
| Financial fixed assets | 28 | €912 | €912 | = | 0.0% |
| Current assets | 29/58 | €1,594,211 | €1,460,476 | -€133,735 | -8.4% |
| Amounts receivable within one year | 40/41 | €1,176,530 | €1,069,925 | -€106,605 | -9.1% |
| Trade receivables | 40 | €1,054,457 | €950,660 | -€103,797 | -9.8% |
| Other amounts receivable | 41 | €122,074 | €119,265 | -€2,809 | -2.3% |
| Cash at bank and in hand | 54/58 | €315,697 | €268,489 | -€47,208 | -15.0% |
| Deferred charges and accrued income | 490/1 | €101,983 | €122,062 | +€20,079 | +19.7% |
| Total equity and liabilities | 10/49 | €1,946,797 | €1,763,955 | -€182,842 | -9.4% |
| Equity | 10/15 | €136,647 | €136,286 | -€361 | -0.3% |
| Contributions | 10/11 | €52,349 | €52,349 | = | 0.0% |
| Reserves | 13 | €83,235 | €83,235 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €13,529 | €13,529 | = | 0.0% |
| Distributable reserves | 133 | €69,706 | €69,706 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,064 | €702 | -€361 | -33.9% |
| Amounts payable | 17/49 | €1,810,150 | €1,627,668 | -€182,481 | -10.1% |
| Amounts payable after more than one year | 17 | €117,543 | €96,617 | -€20,927 | -17.8% |
| Financial debts | 170/4 | €117,543 | €96,617 | -€20,927 | -17.8% |
| Amounts payable within one year | 42/48 | €1,692,035 | €1,528,133 | -€163,902 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €56,731 | €79,623 | +€22,892 | +40.4% |
| Financial debts | 43 | €85,491 | €89,273 | +€3,782 | +4.4% |
| Credit institutions | 430/8 | €85,000 | €88,700 | +€3,700 | +4.4% |
| Other loans | 439 | €491 | €573 | +€82 | +16.7% |
| Trade debts | 44 | €903,450 | €797,261 | -€106,189 | -11.8% |
| Suppliers | 440/4 | €903,450 | €797,261 | -€106,189 | -11.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €298,319 | €243,012 | -€55,307 | -18.5% |
| Taxes | 450/3 | €152,332 | €124,689 | -€27,643 | -18.1% |
| Remuneration and social security | 454/9 | €145,987 | €118,324 | -€27,663 | -18.9% |
| Other amounts payable | 47/48 | €348,044 | €318,963 | -€29,081 | -8.4% |
| Accrued charges and deferred income | 492/3 | €571 | €2,918 | +€2,347 | +411.1% |
| Non-recurring operating income | 76A | €663 | €18,845 | +€18,182 | +2741.4% |
| Remuneration, social security and pensions | 62 | €925,697 | €1,013,894 | +€88,198 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,183 | €144,217 | +€14,034 | +10.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,500 | €17,277 | +€13,777 | +393.6% |
| Other operating charges | 640/8 | €7,033 | €10,030 | +€2,998 | +42.6% |
| Non-recurring operating charges | 66A | €22,430 | €1,226 | -€21,205 | -94.5% |
| Gross operating margin | 9900 | €1,501,090 | €1,618,251 | +€117,161 | +7.8% |
| Operating profit (loss) | 9901 | €412,247 | €431,606 | +€19,358 | +4.7% |
| Financial income | 75/76B | €308 | €4,181 | +€3,873 | +1259.4% |
| Recurring financial income | 75 | €308 | €4,181 | +€3,873 | +1259.4% |
| Financial charges | 65/66B | €12,859 | €23,797 | +€10,938 | +85.1% |
| Recurring financial charges | 65 | €12,859 | €23,797 | +€10,938 | +85.1% |
| Profit (loss) for the period before taxes | 9903 | €399,696 | €411,990 | +€12,294 | +3.1% |
| Income taxes | 67/77 | €96,134 | €93,388 | -€2,746 | -2.9% |
| Profit (loss) for the period | 9904 | €303,562 | €318,602 | +€15,040 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €303,562 | €318,602 | +€15,040 | +5.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.