C.R.D.: 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.
C.R.D.
Largest movements
- Tangible fixed assets +€20,887
up €20,887 (+12.0%), from €174,057 to €194,944
of which Land and buildings: +€27,996
- Receivables within one year -€8,865
down €8,865 (-49.8%), from €17,791 to €8,926
of which Trade receivables: -€10,070
- Current investments -€6,000
down €6,000 (-3.4%), from €175,020 to €169,020
- Reserves +€18,115
up €18,115 (+7.1%), from €256,493 to €274,608
of which Tax-exempt reserves: +€18,115
- Profit (loss) carried forward -€9,294
down €9,294 (-6.3%), from €146,577 to €137,283
- Depreciation +€8,720
up €8,720 (+64.4%), from €13,545 to €22,265
- Taxes -€5,337
down €5,337 (-89.2%), from €5,982 to €645
- Other operating charges -€2,155
down €2,155 (-76.5%), from €2,818 to €663
- Gross operating margin -€1,572
down €1,572 (-4.4%), from €35,396 to €33,824
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 | €433,231 | €438,362 | +€5,131 | +1.2% |
| Fixed assets | 21/28 | €174,057 | €194,944 | +€20,887 | +12.0% |
| Tangible fixed assets | 22/27 | €174,057 | €194,944 | +€20,887 | +12.0% |
| Land and buildings | 22 | €166,948 | €194,944 | +€27,996 | +16.8% |
| Furniture and vehicles | 24 | €7,109 | - | -€7,109 | |
| Current assets | 29/58 | €259,174 | €243,418 | -€15,756 | -6.1% |
| Amounts receivable within one year | 40/41 | €17,791 | €8,926 | -€8,865 | -49.8% |
| Trade receivables | 40 | €16,664 | €6,594 | -€10,070 | -60.4% |
| Other amounts receivable | 41 | €1,127 | €2,332 | +€1,205 | +107% |
| Current investments | 50/53 | €175,020 | €169,020 | -€6,000 | -3.4% |
| Cash at bank and in hand | 54/58 | €66,318 | €65,472 | -€846 | -1.3% |
| Deferred charges and accrued income | 490/1 | €45 | - | -€45 | |
| Total equity and liabilities | 10/49 | €433,231 | €438,362 | +€5,131 | +1.2% |
| Equity | 10/15 | €409,267 | €418,088 | +€8,821 | +2.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €256,493 | €274,608 | +€18,115 | +7.1% |
| Tax-exempt reserves | 132 | €5,873 | €23,988 | +€18,115 | +308% |
| Distributable reserves | 133 | €250,620 | €250,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,577 | €137,283 | -€9,294 | -6.3% |
| Amounts payable | 17/49 | €23,964 | €20,274 | -€3,690 | -15.4% |
| Amounts payable after more than one year | 17 | €2,230 | €2,060 | -€170 | -7.6% |
| Other amounts payable | 178/9 | €2,230 | €2,060 | -€170 | -7.6% |
| Amounts payable within one year | 42/48 | €20,504 | €17,584 | -€2,920 | -14.2% |
| Trade debts | 44 | €4,256 | €5,720 | +€1,464 | +34.4% |
| Suppliers | 440/4 | €4,256 | €5,720 | +€1,464 | +34.4% |
| Taxes, remuneration and social security | 45 | €11,021 | €6,857 | -€4,164 | -37.8% |
| Taxes | 450/3 | €11,021 | €6,857 | -€4,164 | -37.8% |
| Other amounts payable | 47/48 | €5,227 | €5,007 | -€220 | -4.2% |
| Accrued charges and deferred income | 492/3 | €1,230 | €630 | -€600 | -48.8% |
| Remuneration, social security and pensions | 62 | €45 | - | -€45 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,545 | €22,265 | +€8,720 | +64.4% |
| Other operating charges | 640/8 | €2,818 | €663 | -€2,155 | -76.5% |
| Gross operating margin | 9900 | €35,396 | €33,824 | -€1,572 | -4.4% |
| Operating profit (loss) | 9901 | €18,988 | €10,896 | -€8,092 | -42.6% |
| Financial income | 75/76B | €2,474 | €2,570 | +€96 | +3.9% |
| Recurring financial income | 75 | €2,474 | €2,570 | +€96 | +3.9% |
| Financial charges | 65/66B | €45 | - | -€45 | |
| Recurring financial charges | 65 | €45 | - | -€45 | |
| Profit (loss) for the period before taxes | 9903 | €21,417 | €13,466 | -€7,951 | -37.1% |
| Transfer from deferred taxes | 780 | - | €566 | +€566 | |
| Income taxes | 67/77 | €5,982 | €645 | -€5,337 | -89.2% |
| Profit (loss) for the period | 9904 | €15,435 | €13,387 | -€2,048 | -13.3% |
| Transfer to tax-exempt reserves | 689 | €5,873 | €18,681 | +€12,808 | +218% |
| Profit (loss) for the period to be appropriated | 9905 | €9,562 | -€5,294 | -€14,856 |
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 14 October 2026 via checked.be.