OLIVIER CLAUS: what changed
What changed
OLIVIER CLAUS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €669,359+€382,462
Equity
€1.5m
2024 · €942,736+€551,821
Cash
€429,178
2024 · €66,591+€362,588
Balance sheet total
€2.1m
2024 · €1.7m+€464,314
Largest movements
Assets
- Cash +€362,588
up €362,588 (+545%), from €66,591 to €429,178
mainly Net result for the year (+€1.1m) and Other debts (+€425,340)
- Tangible fixed assets +€59,201
up €59,201 (+128%), from €46,417 to €105,618
of which Furniture and vehicles: +€59,287
- Receivables within one year +€42,700
new in 2025: €42,700
of which Trade receivables: +€24,200
Equity and liabilities
- Reserves +€551,821
up €551,821 (+58.7%), from €940,736 to €1.5m
- Debts after one year -€521,951
down €521,951 (-78.6%), from €663,836 to €141,885
- Other debts +€425,340
up €425,340 (+118,367%), from €359 to €425,699
Income statement
- Financial income +€595,000
up €595,000 (+170%), from €350,000 to €945,000
- Gross operating margin -€258,442
down €258,442 (-59.2%), from €436,230 to €177,788
- Taxes -€62,527
down €62,527 (-66.5%), from €93,992 to €31,466
- Depreciation +€11,452
up €11,452 (+75.7%), from €15,132 to €26,584
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.
Result 2024
€669,359
Gross operating margin
-€258,442
Depreciation
-€11,452
Other operating charges
-€950
Other operating items
-€2,829
Financial income
+€595,000
Financial charges
-€1,392
Taxes
+€62,527
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.5m
Investment
-€85,785
Financing
-€1.0m
Cash 2024
€66,591
From operations (derived)
+€1.5m
Net result for the year
+€1.1m
Depreciation
+€26,584
Receivables within one year
-€42,700
Smaller working-capital items
-€479
Other debts
+€425,340
Investment (derived)
-€85,785
Investment in fixed assets (net)
-€85,785
Financing
-€1.0m
Debts after one year
-€521,951
Current portion of long-term debt
+€9,757
Contributions, distributions and other
-€500,000
Cash 2025
€429,178
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,663,776 | €2,128,090 | +€464,314 | +27.9% |
| Fixed assets | 21/28 | €1,596,417 | €1,655,618 | +€59,201 | +3.7% |
| Tangible fixed assets | 22/27 | €46,417 | €105,618 | +€59,201 | +128% |
| Plant, machinery and equipment | 23 | €86 | - | -€86 | |
| Furniture and vehicles | 24 | €46,331 | €105,618 | +€59,287 | +128% |
| Financial fixed assets | 28 | €1,550,000 | €1,550,000 | = | 0.0% |
| Current assets | 29/58 | €67,359 | €472,472 | +€405,113 | +601% |
| Amounts receivable within one year | 40/41 | - | €42,700 | +€42,700 | |
| Trade receivables | 40 | - | €24,200 | +€24,200 | |
| Other amounts receivable | 41 | - | €18,500 | +€18,500 | |
| Cash at bank and in hand | 54/58 | €66,591 | €429,178 | +€362,588 | +545% |
| Deferred charges and accrued income | 490/1 | €768 | €593 | -€175 | -22.7% |
| Total equity and liabilities | 10/49 | €1,663,776 | €2,128,090 | +€464,314 | +27.9% |
| Equity | 10/15 | €942,736 | €1,494,556 | +€551,821 | +58.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €940,736 | €1,492,556 | +€551,821 | +58.7% |
| Distributable reserves | 133 | €940,736 | €1,492,556 | +€551,821 | +58.7% |
| Amounts payable | 17/49 | €721,040 | €633,533 | -€87,507 | -12.1% |
| Amounts payable after more than one year | 17 | €663,836 | €141,885 | -€521,951 | -78.6% |
| Financial debts | 170/4 | €663,836 | €141,885 | -€521,951 | -78.6% |
| Amounts payable within one year | 42/48 | €57,204 | €491,398 | +€434,194 | +759% |
| Current portion of amounts payable after more than one year | 42 | €32,095 | €41,852 | +€9,757 | +30.4% |
| Trade debts | 44 | €510 | €731 | +€221 | +43.2% |
| Suppliers | 440/4 | €510 | €731 | +€221 | +43.2% |
| Taxes, remuneration and social security | 45 | €24,240 | €23,116 | -€1,124 | -4.6% |
| Taxes | 450/3 | €24,240 | €21,016 | -€3,224 | -13.3% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €359 | €425,699 | +€425,340 | +118,367% |
| Accrued charges and deferred income | 492/3 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,132 | €26,584 | +€11,452 | +75.7% |
| Other operating charges | 640/8 | €518 | €1,468 | +€950 | +183% |
| Non-recurring operating charges | 66A | - | €2,829 | +€2,829 | |
| Gross operating margin | 9900 | €436,230 | €177,788 | -€258,442 | -59.2% |
| Operating profit (loss) | 9901 | €420,580 | €146,907 | -€273,673 | -65.1% |
| Financial income | 75/76B | €350,000 | €945,000 | +€595,000 | +170% |
| Recurring financial income | 75 | €350,000 | €945,000 | +€595,000 | +170% |
| Financial charges | 65/66B | €7,228 | €8,620 | +€1,392 | +19.3% |
| Recurring financial charges | 65 | €7,228 | €8,620 | +€1,392 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €763,351 | €1,083,287 | +€319,935 | +41.9% |
| Income taxes | 67/77 | €93,992 | €31,466 | -€62,527 | -66.5% |
| Profit (loss) for the period | 9904 | €669,359 | €1,051,821 | +€382,462 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €669,359 | €1,051,821 | +€382,462 | +57.1% |
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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 2 November 2026 via checked.be.