LA CLEF DE VERRE: 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.
LA CLEF DE VERRE
Largest movements
- Cash -€7,873
down €7,873 (-91.2%), from €8,628 to €755
mainly Other debts (-€12,015) and Investment in fixed assets (net) (-€10,045)
- Receivables within one year +€6,013
up €6,013 (+28.4%), from €21,178 to €27,192
of which Trade receivables: +€5,304
- Tangible fixed assets +€5,057
up €5,057 (+45.8%), from €11,040 to €16,097
of which Plant, machinery and equipment: +€9,416
- Stocks and contracts +€3,057
up €3,057 (+34.0%), from €9,005 to €12,063
- Other debts -€12,015
down €12,015 (-51.4%), from €23,382 to €11,367
- Profit (loss) carried forward +€10,088
up €10,088 (+11.3%), from -€88,993 to -€78,904
- Tax, wage and social debts +€4,237
up €4,237 (+25.6%), from €16,551 to €20,789
of which Taxes: +€2,552
- Trade debts +€3,397
up €3,397 (+10.6%), from €32,031 to €35,428
- Gross operating margin +€54,067
up €54,067 (+43.7%), from €123,843 to €177,911
- Financial charges +€8,699
up €8,699 (+17.3%), from €50,255 to €58,954
- Other operating charges -€5,283
down €5,283 (-77.3%), from €6,834 to €1,551
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 | €50,972 | €56,680 | +€5,708 | +11.2% |
| Fixed assets | 21/28 | €11,040 | €16,097 | +€5,057 | +45.8% |
| Tangible fixed assets | 22/27 | €11,040 | €16,097 | +€5,057 | +45.8% |
| Plant, machinery and equipment | 23 | €227 | €9,643 | +€9,416 | +4,145% |
| Furniture and vehicles | 24 | €10,813 | €6,454 | -€4,359 | -40.3% |
| Current assets | 29/58 | €39,932 | €40,583 | +€651 | +1.6% |
| Stocks and contracts in progress | 3 | €9,005 | €12,063 | +€3,057 | +34.0% |
| Stocks | 30/36 | €9,005 | €12,063 | +€3,057 | +34.0% |
| Amounts receivable within one year | 40/41 | €21,178 | €27,192 | +€6,013 | +28.4% |
| Trade receivables | 40 | €20,557 | €25,861 | +€5,304 | +25.8% |
| Other amounts receivable | 41 | €621 | €1,331 | +€710 | +114% |
| Cash at bank and in hand | 54/58 | €8,628 | €755 | -€7,873 | -91.2% |
| Deferred charges and accrued income | 490/1 | €1,120 | €573 | -€547 | -48.8% |
| Total equity and liabilities | 10/49 | €50,972 | €56,680 | +€5,708 | +11.2% |
| Equity | 10/15 | -€20,993 | -€10,904 | +€10,088 | +48.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,993 | -€78,904 | +€10,088 | +11.3% |
| Amounts payable | 17/49 | €71,964 | €67,584 | -€4,381 | -6.1% |
| Amounts payable within one year | 42/48 | €71,964 | €67,584 | -€4,381 | -6.1% |
| Trade debts | 44 | €32,031 | €35,428 | +€3,397 | +10.6% |
| Suppliers | 440/4 | €32,031 | €35,428 | +€3,397 | +10.6% |
| Taxes, remuneration and social security | 45 | €16,551 | €20,789 | +€4,237 | +25.6% |
| Taxes | 450/3 | €6,962 | €9,515 | +€2,552 | +36.7% |
| Remuneration and social security | 454/9 | €9,589 | €11,274 | +€1,685 | +17.6% |
| Other amounts payable | 47/48 | €23,382 | €11,367 | -€12,015 | -51.4% |
| Remuneration, social security and pensions | 62 | €101,494 | €102,531 | +€1,037 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,338 | €4,988 | +€650 | +15.0% |
| Other operating charges | 640/8 | €6,834 | €1,551 | -€5,283 | -77.3% |
| Gross operating margin | 9900 | €123,843 | €177,911 | +€54,067 | +43.7% |
| Operating profit (loss) | 9901 | €11,178 | €68,841 | +€57,662 | +516% |
| Financial income | 75/76B | €1,212 | €218 | -€995 | -82.0% |
| Recurring financial income | 75 | €1,212 | €218 | -€995 | -82.0% |
| Financial charges | 65/66B | €50,255 | €58,954 | +€8,699 | +17.3% |
| Recurring financial charges | 65 | €50,255 | €58,954 | +€8,699 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,864 | €10,105 | +€47,968 | |
| Income taxes | 67/77 | €325 | €16 | -€308 | -95.0% |
| Profit (loss) for the period | 9904 | -€38,188 | €10,088 | +€48,277 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,188 | €10,088 | +€48,277 |
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 24 October 2026 via checked.be.