The Clover: 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.
The Clover
Largest movements
- Tangible fixed assets +€27,513
up €27,513 (+695.9%), from €3,953 to €31,467
of which Furniture and vehicles: +€25,365
- Cash -€14,438
down €14,438 (-33.2%), from €43,513 to €29,076
mainly Investment in fixed assets (net) (-€30,064) and Other debts (-€15,490)
- Receivables within one year +€14,381
up €14,381 (+313.2%), from €4,591 to €18,972
of which Trade receivables: +€12,448
- Profit (loss) carried forward +€30,574
up €30,574 (+47.1%), from €64,927 to €95,501
- Debts after one year +€17,588
new in 2025: €17,588
- Other debts -€15,490
down €15,490 (-19.3%), from €80,344 to €64,854
- Tax, wage and social debts -€13,890
down €13,890 (-100.0%), from €13,890 to €0
- Current portion of long-term debt +€6,812
new in 2025: €6,812
- Taxes +€2,117
up €2,117 (+21.3%), from €9,939 to €12,057
- Depreciation +€1,975
up €1,975 (+225.3%), from €876 to €2,851
- Gross operating margin -€571
down €571 (-1.2%), from €47,608 to €47,037
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 | €164,351 | €191,507 | +€27,157 | +16.5% |
| Fixed assets | 21/28 | €116,247 | €143,460 | +€27,213 | +23.4% |
| Intangible fixed assets | 21 | €1,273 | €973 | -€300 | -23.6% |
| Tangible fixed assets | 22/27 | €3,953 | €31,467 | +€27,513 | +695.9% |
| Plant, machinery and equipment | 23 | €1,173 | €3,322 | +€2,149 | +183.2% |
| Furniture and vehicles | 24 | €2,780 | €28,145 | +€25,365 | +912.3% |
| Financial fixed assets | 28 | €111,020 | €111,020 | = | 0.0% |
| Current assets | 29/58 | €48,104 | €48,047 | -€57 | -0.1% |
| Amounts receivable within one year | 40/41 | €4,591 | €18,972 | +€14,381 | +313.2% |
| Trade receivables | 40 | €4,469 | €16,917 | +€12,448 | +278.5% |
| Other amounts receivable | 41 | €122 | €2,055 | +€1,933 | +1586.0% |
| Cash at bank and in hand | 54/58 | €43,513 | €29,076 | -€14,438 | -33.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €164,351 | €191,507 | +€27,157 | +16.5% |
| Equity | 10/15 | €67,427 | €98,001 | +€30,574 | +45.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,927 | €95,501 | +€30,574 | +47.1% |
| Amounts payable | 17/49 | €96,924 | €93,507 | -€3,418 | -3.5% |
| Amounts payable after more than one year | 17 | - | €17,588 | +€17,588 | |
| Financial debts | 170/4 | - | €17,588 | +€17,588 | |
| Amounts payable within one year | 42/48 | €96,924 | €75,918 | -€21,006 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | - | €6,812 | +€6,812 | |
| Trade debts | 44 | €2,690 | €4,253 | +€1,563 | +58.1% |
| Suppliers | 440/4 | €2,690 | €4,253 | +€1,563 | +58.1% |
| Taxes, remuneration and social security | 45 | €13,890 | €0 | -€13,890 | -100.0% |
| Taxes | 450/3 | €13,890 | €0 | -€13,890 | -100.0% |
| Other amounts payable | 47/48 | €80,344 | €64,854 | -€15,490 | -19.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €876 | €2,851 | +€1,975 | +225.3% |
| Other operating charges | 640/8 | €1,262 | €1,264 | +€2 | +0.1% |
| Gross operating margin | 9900 | €47,608 | €47,037 | -€571 | -1.2% |
| Operating profit (loss) | 9901 | €45,469 | €42,922 | -€2,547 | -5.6% |
| Financial income | 75/76B | €25 | €7 | -€18 | -71.5% |
| Recurring financial income | 75 | €25 | €7 | -€18 | -71.5% |
| Financial charges | 65/66B | €304 | €298 | -€6 | -1.9% |
| Recurring financial charges | 65 | €304 | €298 | -€6 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €45,190 | €42,631 | -€2,559 | -5.7% |
| Income taxes | 67/77 | €9,939 | €12,057 | +€2,117 | +21.3% |
| Profit (loss) for the period | 9904 | €35,251 | €30,574 | -€4,677 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,251 | €30,574 | -€4,677 | -13.3% |
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.