Tom De Clerck: 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.
Tom De Clerck
Largest movements
- Receivables within one year -€29,686
down €29,686 (-55.3%), from €53,685 to €23,999
of which Trade receivables: -€27,747
- Tangible fixed assets +€17,693
new in 2025: €17,693
of which Furniture and vehicles: +€9,424
- Cash -€12,434
down €12,434 (-34.0%), from €36,612 to €24,177
mainly Contributions, distributions and other (-€60,187) and Other debts (-€22,804)
- Other debts -€22,804
down €22,804 (-27.5%), from €82,990 to €60,187
- Tax, wage and social debts -€2,212
down €2,212 (-41.7%), from €5,310 to €3,098
of which Taxes: -€2,212
- Gross operating margin -€28,678
down €28,678 (-26.9%), from €106,433 to €77,755
- Taxes -€5,760
down €5,760 (-26.2%), from €21,961 to €16,201
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 | €92,791 | €67,489 | -€25,302 | -27.3% |
| Fixed assets | 21/28 | - | €17,693 | +€17,693 | |
| Tangible fixed assets | 22/27 | - | €17,693 | +€17,693 | |
| Plant, machinery and equipment | 23 | - | €8,268 | +€8,268 | |
| Furniture and vehicles | 24 | - | €9,424 | +€9,424 | |
| Current assets | 29/58 | €92,791 | €49,797 | -€42,994 | -46.3% |
| Amounts receivable within one year | 40/41 | €53,685 | €23,999 | -€29,686 | -55.3% |
| Trade receivables | 40 | €48,606 | €20,859 | -€27,747 | -57.1% |
| Other amounts receivable | 41 | €5,079 | €3,140 | -€1,939 | -38.2% |
| Cash at bank and in hand | 54/58 | €36,612 | €24,177 | -€12,434 | -34.0% |
| Deferred charges and accrued income | 490/1 | €2,495 | €1,620 | -€874 | -35.0% |
| Total equity and liabilities | 10/49 | €92,791 | €67,489 | -€25,302 | -27.3% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €89,791 | €64,489 | -€25,302 | -28.2% |
| Amounts payable within one year | 42/48 | €89,791 | €64,181 | -€25,610 | -28.5% |
| Trade debts | 44 | €1,490 | €897 | -€594 | -39.8% |
| Suppliers | 440/4 | €1,490 | €897 | -€594 | -39.8% |
| Taxes, remuneration and social security | 45 | €5,310 | €3,098 | -€2,212 | -41.7% |
| Taxes | 450/3 | €5,310 | €3,098 | -€2,212 | -41.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €82,990 | €60,187 | -€22,804 | -27.5% |
| Accrued charges and deferred income | 492/3 | - | €308 | +€308 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €834 | +€834 | |
| Other operating charges | 640/8 | €551 | €520 | -€31 | -5.7% |
| Gross operating margin | 9900 | €106,433 | €77,755 | -€28,678 | -26.9% |
| Operating profit (loss) | 9901 | €105,882 | €76,402 | -€29,480 | -27.8% |
| Financial income | 75/76B | €62 | €238 | +€176 | +285% |
| Recurring financial income | 75 | €62 | €238 | +€176 | +285% |
| Financial charges | 65/66B | €993 | €252 | -€741 | -74.6% |
| Recurring financial charges | 65 | €993 | €252 | -€741 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | €104,951 | €76,387 | -€28,564 | -27.2% |
| Income taxes | 67/77 | €21,961 | €16,201 | -€5,760 | -26.2% |
| Profit (loss) for the period | 9904 | €82,990 | €60,187 | -€22,804 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €82,990 | €60,187 | -€22,804 | -27.5% |
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 26 October 2026 via checked.be.