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.
CLAEYS JO
Largest movements
- Receivables within one year -€25,318
down €25,318 (-36.3%), from €69,807 to €44,489
of which Trade receivables: -€18,382
- Stocks and contracts +€10,347
up €10,347 (+49.2%), from €21,043 to €31,390
of which Stocks: +€10,347
- Cash -€4,218
down €4,218 (-59.7%), from €7,061 to €2,842
mainly Trade debts (-€28,496) and Investment in fixed assets (net) (-€20,318)
- Trade debts -€28,496
down €28,496 (-50.0%), from €56,957 to €28,461
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Other debts +€10,461
new in 2025: €10,461
- Debts after one year -€10,173
down €10,173 (-100.0%), from €10,173 to €0
- Current portion of long-term debt -€3,973
down €3,973 (-28.1%), from €14,146 to €10,173
- Gross operating margin +€6,757
up €6,757 (+29.3%), from €23,072 to €29,829
- Staff costs +€4,022
new in 2025: €4,022
- Financial charges +€1,870
up €1,870 (+75.9%), from €2,464 to €4,334
- Depreciation +€1,808
up €1,808 (+9.9%), from €18,211 to €20,019
- Financial income -€1,441
down €1,441 (-94.1%), from €1,532 to €91
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 | €140,750 | €121,910 | -€18,840 | -13.4% |
| Fixed assets | 21/28 | €38,444 | €38,743 | +€299 | +0.8% |
| Tangible fixed assets | 22/27 | €38,444 | €38,743 | +€299 | +0.8% |
| Plant, machinery and equipment | 23 | €12,162 | €25,516 | +€13,355 | +109.8% |
| Furniture and vehicles | 24 | €10,805 | €5,751 | -€5,054 | -46.8% |
| Leasing and similar rights | 25 | €15,477 | €7,475 | -€8,002 | -51.7% |
| Current assets | 29/58 | €102,306 | €83,167 | -€19,139 | -18.7% |
| Stocks and contracts in progress | 3 | €21,043 | €31,390 | +€10,347 | +49.2% |
| Stocks | 30/36 | €21,043 | €31,390 | +€10,347 | +49.2% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €69,807 | €44,489 | -€25,318 | -36.3% |
| Trade receivables | 40 | €57,766 | €39,384 | -€18,382 | -31.8% |
| Other amounts receivable | 41 | €12,041 | €5,105 | -€6,936 | -57.6% |
| Cash at bank and in hand | 54/58 | €7,061 | €2,842 | -€4,218 | -59.7% |
| Deferred charges and accrued income | 490/1 | €4,395 | €4,446 | +€50 | +1.1% |
| Total equity and liabilities | 10/49 | €140,750 | €121,910 | -€18,840 | -13.4% |
| Equity | 10/15 | €52,576 | €64,745 | +€12,169 | +23.1% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €46,376 | €46,145 | -€231 | -0.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €44,516 | €44,285 | -€231 | -0.5% |
| Amounts payable | 17/49 | €88,174 | €57,165 | -€31,009 | -35.2% |
| Amounts payable after more than one year | 17 | €10,173 | €0 | -€10,173 | -100.0% |
| Financial debts | 170/4 | €10,173 | €0 | -€10,173 | -100.0% |
| Amounts payable within one year | 42/48 | €75,701 | €56,705 | -€18,996 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €14,146 | €10,173 | -€3,973 | -28.1% |
| Trade debts | 44 | €56,957 | €28,461 | -€28,496 | -50.0% |
| Suppliers | 440/4 | €56,957 | €28,461 | -€28,496 | -50.0% |
| Taxes, remuneration and social security | 45 | €4,598 | €7,610 | +€3,012 | +65.5% |
| Taxes | 450/3 | €4,598 | €1,217 | -€3,381 | -73.5% |
| Remuneration and social security | 454/9 | - | €6,393 | +€6,393 | |
| Other amounts payable | 47/48 | - | €10,461 | +€10,461 | |
| Accrued charges and deferred income | 492/3 | €2,300 | €460 | -€1,840 | -80.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €4,022 | +€4,022 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,211 | €20,019 | +€1,808 | +9.9% |
| Other operating charges | 640/8 | €1,663 | €1,337 | -€326 | -19.6% |
| Gross operating margin | 9900 | €23,072 | €29,829 | +€6,757 | +29.3% |
| Operating profit (loss) | 9901 | €3,198 | €4,451 | +€1,252 | +39.2% |
| Financial income | 75/76B | €1,532 | €91 | -€1,441 | -94.1% |
| Recurring financial income | 75 | €1,532 | €91 | -€1,441 | -94.1% |
| Financial charges | 65/66B | €2,464 | €4,334 | +€1,870 | +75.9% |
| Recurring financial charges | 65 | €2,464 | €4,334 | +€1,870 | +75.9% |
| Profit (loss) for the period before taxes | 9903 | €2,266 | €207 | -€2,059 | -90.9% |
| Income taxes | 67/77 | €1,253 | €438 | -€815 | -65.1% |
| Profit (loss) for the period | 9904 | €1,012 | -€231 | -€1,243 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,012 | -€231 | -€1,243 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 September 2026 via checked.be.