Celia Crokaert: 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.
Celia Crokaert
Largest movements
- Cash +€65,320
up €65,320 (+353%), from €18,485 to €83,805
mainly Net result for the year (+€44,953) and Receivables within one year (+€17,528)
- Receivables within one year -€17,528
down €17,528 (-61.0%), from €28,755 to €11,228
- Tangible fixed assets -€7,215
down €7,215 (-26.1%), from €27,691 to €20,476
of which Plant, machinery and equipment: -€5,992
- Reserves +€44,953
up €44,953 (+88.4%), from €50,845 to €95,798
- Debts after one year -€7,449
down €7,449 (-85.4%), from €8,721 to €1,272
- Trade debts +€3,334
up €3,334 (+728%), from €458 to €3,792
- Other debts -€2,189
down €2,189 (-45.1%), from €4,859 to €2,670
- Tax, wage and social debts +€1,670
up €1,670 (+78.7%), from €2,121 to €3,791
- Gross operating margin +€38,133
up €38,133 (+107%), from €35,523 to €73,656
- Depreciation +€6,524
up €6,524 (+81.8%), from €7,977 to €14,501
- Taxes +€5,340
up €5,340 (+67.5%), from €7,909 to €13,249
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 | €76,199 | €116,820 | +€40,621 | +53.3% |
| Fixed assets | 21/28 | €27,691 | €20,476 | -€7,215 | -26.1% |
| Tangible fixed assets | 22/27 | €27,691 | €20,476 | -€7,215 | -26.1% |
| Plant, machinery and equipment | 23 | €22,186 | €16,194 | -€5,992 | -27.0% |
| Furniture and vehicles | 24 | €5,505 | €4,282 | -€1,223 | -22.2% |
| Current assets | 29/58 | €48,508 | €96,344 | +€47,836 | +98.6% |
| Amounts receivable within one year | 40/41 | €28,755 | €11,228 | -€17,528 | -61.0% |
| Trade receivables | 40 | €28,755 | €11,228 | -€17,528 | -61.0% |
| Current investments | 50/53 | €1,049 | €1,049 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,485 | €83,805 | +€65,320 | +353% |
| Deferred charges and accrued income | 490/1 | €220 | €263 | +€43 | +19.7% |
| Total equity and liabilities | 10/49 | €76,199 | €116,820 | +€40,621 | +53.3% |
| Equity | 10/15 | €52,845 | €97,798 | +€44,953 | +85.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €50,845 | €95,798 | +€44,953 | +88.4% |
| Distributable reserves | 133 | €50,845 | €95,798 | +€44,953 | +88.4% |
| Amounts payable | 17/49 | €23,354 | €19,022 | -€4,332 | -18.5% |
| Amounts payable after more than one year | 17 | €8,721 | €1,272 | -€7,449 | -85.4% |
| Financial debts | 170/4 | €8,721 | €1,272 | -€7,449 | -85.4% |
| Amounts payable within one year | 42/48 | €14,584 | €17,701 | +€3,117 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €7,147 | €7,449 | +€302 | +4.2% |
| Trade debts | 44 | €458 | €3,792 | +€3,334 | +728% |
| Suppliers | 440/4 | €458 | €3,792 | +€3,334 | +728% |
| Taxes, remuneration and social security | 45 | €2,121 | €3,791 | +€1,670 | +78.7% |
| Taxes | 450/3 | €2,121 | €3,791 | +€1,670 | +78.7% |
| Other amounts payable | 47/48 | €4,859 | €2,670 | -€2,189 | -45.1% |
| Accrued charges and deferred income | 492/3 | €49 | €49 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,977 | €14,501 | +€6,524 | +81.8% |
| Other operating charges | 640/8 | €116 | €212 | +€96 | +82.8% |
| Gross operating margin | 9900 | €35,523 | €73,656 | +€38,133 | +107% |
| Operating profit (loss) | 9901 | €27,430 | €58,943 | +€31,513 | +115% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,113 | €741 | -€371 | -33.4% |
| Recurring financial charges | 65 | €1,113 | €741 | -€371 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €26,319 | €58,202 | +€31,883 | +121% |
| Income taxes | 67/77 | €7,909 | €13,249 | +€5,340 | +67.5% |
| Profit (loss) for the period | 9904 | €18,410 | €44,953 | +€26,543 | +144% |
| Profit (loss) for the period to be appropriated | 9905 | €18,410 | €44,953 | +€26,543 | +144% |
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 20 October 2026 via checked.be.