CRAEGHS: 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.
CRAEGHS
Largest movements
- Receivables within one year +€98,144
up €98,144 (+91.2%), from €107,624 to €205,768
- Current investments -€58,427
down €58,427 (-24.3%), from €240,542 to €182,115
- Cash -€13,338
down €13,338 (-7.9%), from €168,144 to €154,806
mainly Receivables within one year (-€98,144) and Investment in fixed assets (net) (-€16,361)
- Reserves +€31,975
up €31,975 (+5.5%), from €581,177 to €613,152
of which Distributable reserves: +€31,975
- Debts after one year -€14,676
down €14,676 (-28.4%), from €51,609 to €36,933
- Trade debts +€7,082
up €7,082 (+485.7%), from €1,458 to €8,540
- Gross operating margin -€35,649
down €35,649 (-44.7%), from €79,830 to €44,181
- Financial income +€13,658
up €13,658 (+140.3%), from €9,735 to €23,393
- Taxes -€5,569
down €5,569 (-28.1%), from €19,786 to €14,217
- Depreciation +€4,365
up €4,365 (+31.6%), from €13,831 to €18,196
- Financial charges -€1,320
down €1,320 (-30.2%), from €4,369 to €3,049
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 | €662,376 | €686,652 | +€24,276 | +3.7% |
| Fixed assets | 21/28 | €107,772 | €105,937 | -€1,835 | -1.7% |
| Tangible fixed assets | 22/27 | €107,772 | €105,937 | -€1,835 | -1.7% |
| Land and buildings | 22 | €60,750 | €70,139 | +€9,389 | +15.5% |
| Plant, machinery and equipment | 23 | €7,374 | €4,597 | -€2,777 | -37.7% |
| Furniture and vehicles | 24 | €39,648 | €31,201 | -€8,447 | -21.3% |
| Current assets | 29/58 | €554,604 | €580,715 | +€26,111 | +4.7% |
| Stocks and contracts in progress | 3 | €16,770 | €14,671 | -€2,099 | -12.5% |
| Contracts in progress | 37 | €16,770 | €14,671 | -€2,099 | -12.5% |
| Amounts receivable within one year | 40/41 | €107,624 | €205,768 | +€98,144 | +91.2% |
| Other amounts receivable | 41 | €107,624 | €205,768 | +€98,144 | +91.2% |
| Current investments | 50/53 | €240,542 | €182,115 | -€58,427 | -24.3% |
| Cash at bank and in hand | 54/58 | €168,144 | €154,806 | -€13,338 | -7.9% |
| Deferred charges and accrued income | 490/1 | €21,524 | €23,355 | +€1,831 | +8.5% |
| Total equity and liabilities | 10/49 | €662,376 | €686,652 | +€24,276 | +3.7% |
| Equity | 10/15 | €593,577 | €625,552 | +€31,975 | +5.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €581,177 | €613,152 | +€31,975 | +5.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,900 | €2,900 | = | 0.0% |
| Distributable reserves | 133 | €576,277 | €608,252 | +€31,975 | +5.5% |
| Amounts payable | 17/49 | €68,799 | €61,100 | -€7,699 | -11.2% |
| Amounts payable after more than one year | 17 | €51,609 | €36,933 | -€14,676 | -28.4% |
| Financial debts | 170/4 | €51,609 | €36,933 | -€14,676 | -28.4% |
| Amounts payable within one year | 42/48 | €17,190 | €24,167 | +€6,977 | +40.6% |
| Current portion of amounts payable after more than one year | 42 | €15,732 | €15,627 | -€105 | -0.7% |
| Trade debts | 44 | €1,458 | €8,540 | +€7,082 | +485.7% |
| Suppliers | 440/4 | €1,458 | €8,540 | +€7,082 | +485.7% |
| Non-recurring operating income | 76A | €13,000 | - | -€13,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,831 | €18,196 | +€4,365 | +31.6% |
| Other operating charges | 640/8 | - | €136 | +€136 | |
| Gross operating margin | 9900 | €79,830 | €44,181 | -€35,649 | -44.7% |
| Operating profit (loss) | 9901 | €65,999 | €25,849 | -€40,150 | -60.8% |
| Financial income | 75/76B | €9,735 | €23,393 | +€13,658 | +140.3% |
| Recurring financial income | 75 | €9,735 | €23,393 | +€13,658 | +140.3% |
| Financial charges | 65/66B | €4,369 | €3,049 | -€1,320 | -30.2% |
| Recurring financial charges | 65 | €4,369 | €3,049 | -€1,320 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €71,365 | €46,193 | -€25,172 | -35.3% |
| Income taxes | 67/77 | €19,786 | €14,217 | -€5,569 | -28.1% |
| Profit (loss) for the period | 9904 | €51,579 | €31,976 | -€19,603 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,579 | €31,976 | -€19,603 | -38.0% |
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 10 October 2026 via checked.be.