C-REF INDUSTRIES: 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.
C-REF INDUSTRIES
Largest movements
- Receivables within one year -€30,237
down €30,237 (-15.6%), from €194,385 to €164,148
of which Trade receivables: -€29,162
- Tangible fixed assets -€8,107
down €8,107 (-60.5%), from €13,402 to €5,294
of which Leasing and similar rights: -€5,781
- Cash -€5,638
down €5,638 (-22.6%), from €24,987 to €19,348
mainly Net result for the year (-€19,413) and Trade debts (-€14,381)
- Profit (loss) carried forward -€19,413
down €19,413 (-79.1%), from €24,540 to €5,126
- Trade debts -€14,381
down €14,381 (-10.7%), from €134,362 to €119,981
- Tax, wage and social debts -€11,611
down €11,611 (-51.2%), from €22,659 to €11,048
of which Remuneration and social security: -€6,881
- Other debts +€2,586
up €2,586 (+22.4%), from €11,567 to €14,153
- Gross operating margin -€29,380
down €29,380, from €18,711 to -€10,669
- Taxes -€12,661
no longer reported in 2025 (was €12,661)
- Financial charges -€554
down €554 (-81.3%), from €681 to €127
- Other operating charges -€337
down €337 (-52.9%), from €637 to €300
- Depreciation -€253
down €253 (-3.0%), from €8,462 to €8,209
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 | €235,491 | €192,672 | -€42,819 | -18.2% |
| Fixed assets | 21/28 | €14,203 | €5,994 | -€8,209 | -57.8% |
| Intangible fixed assets | 21 | €101 | €0 | -€101 | -100.0% |
| Tangible fixed assets | 22/27 | €13,402 | €5,294 | -€8,107 | -60.5% |
| Plant, machinery and equipment | 23 | €1,055 | €159 | -€896 | -85.0% |
| Furniture and vehicles | 24 | €2,479 | €1,049 | -€1,430 | -57.7% |
| Leasing and similar rights | 25 | €9,868 | €4,086 | -€5,781 | -58.6% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €221,288 | €186,678 | -€34,610 | -15.6% |
| Amounts receivable within one year | 40/41 | €194,385 | €164,148 | -€30,237 | -15.6% |
| Trade receivables | 40 | €143,329 | €114,168 | -€29,162 | -20.3% |
| Other amounts receivable | 41 | €51,056 | €49,980 | -€1,076 | -2.1% |
| Cash at bank and in hand | 54/58 | €24,987 | €19,348 | -€5,638 | -22.6% |
| Deferred charges and accrued income | 490/1 | €1,916 | €3,181 | +€1,265 | +66.1% |
| Total equity and liabilities | 10/49 | €235,491 | €192,672 | -€42,819 | -18.2% |
| Equity | 10/15 | €66,003 | €46,590 | -€19,413 | -29.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Uncalled capital | 101 | €12,350 | €12,350 | = | 0.0% |
| Reserves | 13 | €35,264 | €35,264 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €33,409 | €33,409 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,540 | €5,126 | -€19,413 | -79.1% |
| Amounts payable | 17/49 | €169,488 | €146,082 | -€23,406 | -13.8% |
| Amounts payable within one year | 42/48 | €168,588 | €145,182 | -€23,406 | -13.9% |
| Trade debts | 44 | €134,362 | €119,981 | -€14,381 | -10.7% |
| Suppliers | 440/4 | €134,362 | €119,981 | -€14,381 | -10.7% |
| Taxes, remuneration and social security | 45 | €22,659 | €11,048 | -€11,611 | -51.2% |
| Taxes | 450/3 | €15,778 | €11,048 | -€4,730 | -30.0% |
| Remuneration and social security | 454/9 | €6,881 | - | -€6,881 | |
| Other amounts payable | 47/48 | €11,567 | €14,153 | +€2,586 | +22.4% |
| Accrued charges and deferred income | 492/3 | €900 | €900 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €108 | +€108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,462 | €8,209 | -€253 | -3.0% |
| Other operating charges | 640/8 | €637 | €300 | -€337 | -52.9% |
| Gross operating margin | 9900 | €18,711 | -€10,669 | -€29,380 | |
| Operating profit (loss) | 9901 | €9,612 | -€19,286 | -€28,898 | |
| Financial charges | 65/66B | €681 | €127 | -€554 | -81.3% |
| Recurring financial charges | 65 | €681 | €127 | -€554 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €8,931 | -€19,413 | -€28,344 | |
| Income taxes | 67/77 | €12,661 | - | -€12,661 | |
| Profit (loss) for the period | 9904 | -€3,730 | -€19,413 | -€15,683 | -420.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,730 | -€19,413 | -€15,683 | -420.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.