C.R.M.: 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.M.
Largest movements
- Tangible fixed assets +€261,664
up €261,664 (+9.0%), from €2.9m to €3.2m
of which Land and buildings: +€552,656
- Stocks and contracts -€210,546
down €210,546 (-100%), from €210,546 to €0
- Cash +€73,084
up €73,084 (+154%), from €47,350 to €120,435
mainly Debts after one year (+€226,260) and Stocks and contracts (+€210,546)
- Reserves +€398,221
up €398,221 (+44.8%), from €888,075 to €1.3m
of which Tax-exempt reserves: +€381,961
- Short-term financial debts -€280,000
down €280,000 (-100%), from €280,000 to €0
- Debts after one year +€226,260
up €226,260 (+23.3%), from €971,445 to €1.2m
of which Financial debts: +€226,260
- Profit (loss) carried forward -€176,653
down €176,653 (-52.5%), from -€336,335 to -€512,988
- Provisions +€138,845
new in 2025: €138,845
- Financial income +€559,176
new in 2025: €559,176
of which Non-recurring financial income: +€559,176
- Gross operating margin -€100,684
down €100,684 (-70.2%), from €143,337 to €42,654
- Other operating charges +€53,720
up €53,720 (+352%), from €15,282 to €69,002
- Financial charges +€41,817
up €41,817 (+92.5%), from €45,218 to €87,035
of which Non-recurring financial charges: +€42,597
- Taxes -€23,231
down €23,231, from €321 to -€22,910
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 | €3,235,863 | €3,336,002 | +€100,139 | +3.1% |
| Fixed assets | 21/28 | €2,912,004 | €3,172,644 | +€260,641 | +9.0% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €2,910,800 | €3,172,464 | +€261,664 | +9.0% |
| Land and buildings | 22 | €2,609,498 | €3,162,154 | +€552,656 | +21.2% |
| Plant, machinery and equipment | 23 | €293,270 | €346 | -€292,924 | -99.9% |
| Furniture and vehicles | 24 | €8,032 | €9,964 | +€1,932 | +24.1% |
| Financial fixed assets | 28 | €1,203 | €180 | -€1,023 | -85.0% |
| Current assets | 29/58 | €323,859 | €163,357 | -€160,502 | -49.6% |
| Stocks and contracts in progress | 3 | €210,546 | €0 | -€210,546 | -100% |
| Stocks | 30/36 | €210,546 | €0 | -€210,546 | -100% |
| Amounts receivable within one year | 40/41 | €65,375 | €42,166 | -€23,209 | -35.5% |
| Trade receivables | 40 | €62,343 | €31,300 | -€31,043 | -49.8% |
| Other amounts receivable | 41 | €3,032 | €10,866 | +€7,834 | +258% |
| Cash at bank and in hand | 54/58 | €47,350 | €120,435 | +€73,084 | +154% |
| Deferred charges and accrued income | 490/1 | €587 | €757 | +€170 | +29.0% |
| Total equity and liabilities | 10/49 | €3,235,863 | €3,336,002 | +€100,139 | +3.1% |
| Equity | 10/15 | €719,530 | €924,838 | +€205,308 | +28.5% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Revaluation surpluses | 12 | €132,790 | €116,530 | -€16,260 | -12.2% |
| Reserves | 13 | €888,075 | €1,286,296 | +€398,221 | +44.8% |
| Non-distributable reserves | 130/1 | €176,790 | €6,900 | -€169,890 | -96.1% |
| Reserves not available under the articles | 1311 | €176,790 | €6,900 | -€169,890 | -96.1% |
| Tax-exempt reserves | 132 | €692,535 | €1,074,496 | +€381,961 | +55.2% |
| Distributable reserves | 133 | €18,750 | €204,900 | +€186,150 | +993% |
| Profit (loss) carried forward | 14 | -€336,335 | -€512,988 | -€176,653 | -52.5% |
| Provisions and deferred taxes | 16 | - | €138,845 | +€138,845 | |
| Deferred taxes | 168 | - | €138,845 | +€138,845 | |
| Amounts payable | 17/49 | €2,516,333 | €2,272,318 | -€244,014 | -9.7% |
| Amounts payable after more than one year | 17 | €971,445 | €1,197,705 | +€226,260 | +23.3% |
| Financial debts | 170/4 | €941,445 | €1,167,705 | +€226,260 | +24.0% |
| Other amounts payable | 178/9 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,540,714 | €1,074,113 | -€466,601 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €57,958 | €73,052 | +€15,094 | +26.0% |
| Financial debts | 43 | €280,000 | €0 | -€280,000 | -100% |
| Credit institutions | 430/8 | €280,000 | €0 | -€280,000 | -100% |
| Trade debts | 44 | €56,970 | €2,666 | -€54,305 | -95.3% |
| Suppliers | 440/4 | €56,970 | €2,666 | -€54,305 | -95.3% |
| Taxes, remuneration and social security | 45 | €25,389 | €10,469 | -€14,920 | -58.8% |
| Taxes | 450/3 | €25,389 | €10,469 | -€14,920 | -58.8% |
| Other amounts payable | 47/48 | €1,120,396 | €987,926 | -€132,470 | -11.8% |
| Accrued charges and deferred income | 492/3 | €4,174 | €500 | -€3,674 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,300 | €123,526 | +€6,226 | +5.3% |
| Other operating charges | 640/8 | €15,282 | €69,002 | +€53,720 | +352% |
| Non-recurring operating charges | 66A | €20,939 | €1,023 | -€19,916 | -95.1% |
| Gross operating margin | 9900 | €143,337 | €42,654 | -€100,684 | -70.2% |
| Operating profit (loss) | 9901 | -€10,183 | -€150,897 | -€140,714 | -1,382% |
| Financial income | 75/76B | - | €559,176 | +€559,176 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €559,176 | +€559,176 | |
| Financial charges | 65/66B | €45,218 | €87,035 | +€41,817 | +92.5% |
| Recurring financial charges | 65 | €45,218 | €44,439 | -€780 | -1.7% |
| Non-recurring financial charges | 66B | - | €42,597 | +€42,597 | |
| Profit (loss) for the period before taxes | 9903 | -€55,401 | €321,243 | +€376,644 | |
| Transfer from deferred taxes | 780 | - | €949 | +€949 | |
| Transfer to deferred taxes | 680 | - | €139,794 | +€139,794 | |
| Income taxes | 67/77 | €321 | -€22,910 | -€23,231 | |
| Profit (loss) for the period | 9904 | -€55,722 | €205,308 | +€261,031 | |
| Transfer from tax-exempt reserves | 789 | €30,915 | €37,421 | +€6,506 | +21.0% |
| Transfer to tax-exempt reserves | 689 | - | €419,382 | +€419,382 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,807 | -€176,653 | -€151,845 | -612% |
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 19 October 2026 via checked.be.