LE CLAIR: 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.
LE CLAIR
Largest movements
- Tangible fixed assets +€645,742
up €645,742 (+134%), from €483,247 to €1.1m
of which Other tangible fixed assets: +€649,899
- Stocks and contracts +€139,396
up €139,396 (+92.2%), from €151,249 to €290,645
- Receivables within one year +€40,917
up €40,917 (+16.7%), from €245,078 to €285,995
of which Trade receivables: +€35,758
- Cash +€27,056
up €27,056 (+855%), from €3,164 to €30,220
mainly Debts after one year (+€749,645) and Trade debts (+€217,994)
- Debts after one year +€749,645
up €749,645 (+194%), from €386,566 to €1.1m
- Trade debts +€217,994
up €217,994 (+912%), from €23,905 to €241,900
- Other debts -€178,907
down €178,907 (-49.0%), from €365,031 to €186,125
- Current portion of long-term debt +€29,230
up €29,230, from €0 to €29,230
- Reserves +€22,091
up €22,091 (+38.3%), from €57,610 to €79,700
- Gross operating margin +€121,759
up €121,759 (+45.8%), from €265,971 to €387,730
- Depreciation +€79,120
up €79,120 (+171%), from €46,271 to €125,390
- Taxes +€11,149
up €11,149 (+21.2%), from €52,564 to €63,713
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 | €908,710 | €1,756,548 | +€847,838 | +93.3% |
| Fixed assets | 21/28 | €493,942 | €1,137,102 | +€643,160 | +130% |
| Intangible fixed assets | 21 | €10,695 | €8,113 | -€2,582 | -24.1% |
| Tangible fixed assets | 22/27 | €483,247 | €1,128,989 | +€645,742 | +134% |
| Plant, machinery and equipment | 23 | €798 | €6,342 | +€5,544 | +695% |
| Furniture and vehicles | 24 | €27,743 | €18,041 | -€9,702 | -35.0% |
| Other tangible fixed assets | 26 | €454,706 | €1,104,606 | +€649,899 | +143% |
| Current assets | 29/58 | €414,768 | €619,446 | +€204,678 | +49.3% |
| Stocks and contracts in progress | 3 | €151,249 | €290,645 | +€139,396 | +92.2% |
| Stocks | 30/36 | €151,249 | €290,645 | +€139,396 | +92.2% |
| Amounts receivable within one year | 40/41 | €245,078 | €285,995 | +€40,917 | +16.7% |
| Trade receivables | 40 | €44,469 | €80,226 | +€35,758 | +80.4% |
| Other amounts receivable | 41 | €200,609 | €205,769 | +€5,160 | +2.6% |
| Cash at bank and in hand | 54/58 | €3,164 | €30,220 | +€27,056 | +855% |
| Deferred charges and accrued income | 490/1 | €15,278 | €12,587 | -€2,691 | -17.6% |
| Total equity and liabilities | 10/49 | €908,710 | €1,756,548 | +€847,838 | +93.3% |
| Equity | 10/15 | €57,678 | €82,200 | +€24,522 | +42.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €57,610 | €79,700 | +€22,091 | +38.3% |
| Distributable reserves | 133 | €57,610 | €79,700 | +€22,091 | +38.3% |
| Profit (loss) carried forward | 14 | -€2,432 | €0 | +€2,432 | |
| Amounts payable | 17/49 | €851,032 | €1,674,348 | +€823,316 | +96.7% |
| Amounts payable after more than one year | 17 | €386,566 | €1,136,211 | +€749,645 | +194% |
| Financial debts | 170/4 | €386,566 | €1,136,211 | +€749,645 | +194% |
| Amounts payable within one year | 42/48 | €433,212 | €522,351 | +€89,139 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €29,230 | +€29,230 | |
| Financial debts | 43 | €31,699 | €38,433 | +€6,734 | +21.2% |
| Credit institutions | 430/8 | €31,699 | €38,433 | +€6,734 | +21.2% |
| Trade debts | 44 | €23,905 | €241,900 | +€217,994 | +912% |
| Suppliers | 440/4 | €23,905 | €241,900 | +€217,994 | +912% |
| Taxes, remuneration and social security | 45 | €12,577 | €26,663 | +€14,087 | +112% |
| Taxes | 450/3 | €12,577 | €26,663 | +€14,087 | +112% |
| Other amounts payable | 47/48 | €365,031 | €186,125 | -€178,907 | -49.0% |
| Accrued charges and deferred income | 492/3 | €31,254 | €15,786 | -€15,467 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,271 | €125,390 | +€79,120 | +171% |
| Other operating charges | 640/8 | €1,528 | €2,623 | +€1,095 | +71.7% |
| Gross operating margin | 9900 | €265,971 | €387,730 | +€121,759 | +45.8% |
| Operating profit (loss) | 9901 | €218,172 | €259,717 | +€41,544 | +19.0% |
| Financial income | 75/76B | €12,124 | €12,575 | +€451 | +3.7% |
| Recurring financial income | 75 | €12,124 | €12,575 | +€451 | +3.7% |
| Financial charges | 65/66B | €32,289 | €34,057 | +€1,767 | +5.5% |
| Recurring financial charges | 65 | €32,289 | €34,057 | +€1,767 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €198,007 | €238,235 | +€40,228 | +20.3% |
| Income taxes | 67/77 | €52,564 | €63,713 | +€11,149 | +21.2% |
| Profit (loss) for the period | 9904 | €145,443 | €174,522 | +€29,079 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €145,443 | €174,522 | +€29,079 | +20.0% |
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 13 October 2026 via checked.be.