MAY DE CLERCQ: 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.
MAY DE CLERCQ
Largest movements
- Current investments +€127,711
up €127,711 (+3,800%), from €3,361 to €131,072
- Receivables within one year -€22,855
down €22,855 (-48.6%), from €47,042 to €24,187
of which Trade receivables: -€16,371
- Tangible fixed assets -€3,109
down €3,109 (-6.2%), from €50,483 to €47,374
of which Furniture and vehicles: -€2,620
- Profit (loss) carried forward +€78,487
up €78,487 (+108%), from €72,897 to €151,384
- Tax, wage and social debts +€25,528
up €25,528 (+131%), from €19,462 to €44,990
- Gross operating margin +€13,590
up €13,590 (+14.1%), from €96,261 to €109,851
- Depreciation +€6,172
up €6,172 (+156%), from €3,962 to €10,134
- Taxes +€1,613
up €1,613 (+8.3%), from €19,462 to €21,075
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 | €101,051 | €204,848 | +€103,797 | +103% |
| Fixed assets | 21/28 | €50,483 | €47,374 | -€3,109 | -6.2% |
| Tangible fixed assets | 22/27 | €50,483 | €47,374 | -€3,109 | -6.2% |
| Plant, machinery and equipment | 23 | €4,466 | €3,977 | -€489 | -10.9% |
| Furniture and vehicles | 24 | €46,017 | €43,397 | -€2,620 | -5.7% |
| Current assets | 29/58 | €50,568 | €157,474 | +€106,906 | +211% |
| Amounts receivable within one year | 40/41 | €47,042 | €24,187 | -€22,855 | -48.6% |
| Trade receivables | 40 | €40,323 | €23,952 | -€16,371 | -40.6% |
| Other amounts receivable | 41 | €6,719 | €235 | -€6,484 | -96.5% |
| Current investments | 50/53 | €3,361 | €131,072 | +€127,711 | +3,800% |
| Cash at bank and in hand | 54/58 | €165 | €677 | +€512 | +310% |
| Deferred charges and accrued income | 490/1 | - | €1,538 | +€1,538 | |
| Total equity and liabilities | 10/49 | €101,051 | €204,848 | +€103,797 | +103% |
| Equity | 10/15 | €75,897 | €154,384 | +€78,487 | +103% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,897 | €151,384 | +€78,487 | +108% |
| Amounts payable | 17/49 | €25,154 | €50,464 | +€25,310 | +101% |
| Amounts payable within one year | 42/48 | €25,154 | €50,464 | +€25,310 | +101% |
| Trade debts | 44 | €5,692 | €5,474 | -€218 | -3.8% |
| Suppliers | 440/4 | €5,692 | €5,474 | -€218 | -3.8% |
| Taxes, remuneration and social security | 45 | €19,462 | €44,990 | +€25,528 | +131% |
| Taxes | 450/3 | €19,462 | €44,990 | +€25,528 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,962 | €10,134 | +€6,172 | +156% |
| Other operating charges | 640/8 | - | €144 | +€144 | |
| Gross operating margin | 9900 | €96,261 | €109,851 | +€13,590 | +14.1% |
| Operating profit (loss) | 9901 | €92,299 | €99,573 | +€7,274 | +7.9% |
| Financial income | 75/76B | €129 | €354 | +€225 | +174% |
| Recurring financial income | 75 | €129 | €354 | +€225 | +174% |
| Financial charges | 65/66B | €69 | €365 | +€296 | +429% |
| Recurring financial charges | 65 | €69 | €365 | +€296 | +429% |
| Profit (loss) for the period before taxes | 9903 | €92,359 | €99,562 | +€7,203 | +7.8% |
| Income taxes | 67/77 | €19,462 | €21,075 | +€1,613 | +8.3% |
| Profit (loss) for the period | 9904 | €72,897 | €78,487 | +€5,590 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,897 | €78,487 | +€5,590 | +7.7% |
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 19 October 2026 via checked.be.