CRAM: 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.
What changed
CRAM
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€12,743
2024 · -€47,279+€60,021
Equity
€1.5m
2024 · €1.5m+€12,743
Cash
€16,708
2024 · €37,424-€20,716
Balance sheet total
€13.6m
2024 · €11.6m+€2.0m
Largest movements
Assets
- Stocks and contracts +€1.9m
up €1.9m (+27.7%), from €6.8m to €8.7m
- Tangible fixed assets +€358,047
up €358,047 (+8.1%), from €4.4m to €4.8m
of which Land and buildings: +€358,650
- Current investments -€226,149
down €226,149 (-95.4%), from €236,968 to €10,819
Equity and liabilities
- Short-term financial debts +€1.9m
up €1.9m (+32.0%), from €5.9m to €7.8m
- Trade debts -€178,616
down €178,616 (-60.1%), from €297,260 to €118,644
- Other debts +€143,654
new in 2025: €143,654
- Debts after one year +€143,446
up €143,446 (+4.7%), from €3.1m to €3.2m
of which Financial debts: +€143,446
Income statement
- Gross operating margin +€86,421
up €86,421 (+22.4%), from €385,312 to €471,733
- Financial income -€25,486
down €25,486 (-60.7%), from €42,000 to €16,514
- Financial charges -€19,366
down €19,366 (-7.2%), from €269,396 to €250,029
- Depreciation +€18,419
up €18,419 (+11.4%), from €161,350 to €179,769
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.
Result 2024
-€47,279
Gross operating margin
+€86,421
Depreciation
-€18,419
Other operating charges
-€1,556
Financial income
-€25,486
Financial charges
+€19,366
Taxes
-€3,233
Deferred taxes and other
+€2,928
Result 2025
€12,743
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.8m
Investment
-€311,668
Financing
+€2.1m
Cash 2024
€37,424
From operations (derived)
-€1.8m
Net result for the year
+€12,743
Depreciation
+€179,769
Stocks and contracts
-€1.9m
Receivables within one year
-€14,026
Provisions
-€7,357
Trade debts
-€178,616
Tax, wage and social debts
-€1,826
Other debts
+€143,654
Investment (derived)
-€311,668
Investment in fixed assets (net)
-€537,817
Current investments
+€226,149
Financing
+€2.1m
Debts after one year
+€143,446
Current portion of long-term debt
+€10,318
Short-term financial debts
+€1.9m
Cash 2025
€16,708
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,578,877 | €13,598,043 | +€2.0m | +17.4% |
| Fixed assets | 21/28 | €4,419,052 | €4,777,099 | +€358,047 | +8.1% |
| Tangible fixed assets | 22/27 | €4,419,052 | €4,777,099 | +€358,047 | +8.1% |
| Land and buildings | 22 | €4,418,248 | €4,776,898 | +€358,650 | +8.1% |
| Furniture and vehicles | 24 | €804 | €201 | -€603 | -75.0% |
| Current assets | 29/58 | €7,159,825 | €8,820,943 | +€1.7m | +23.2% |
| Stocks and contracts in progress | 3 | €6,849,138 | €8,743,095 | +€1.9m | +27.7% |
| Stocks | 30/36 | €6,849,138 | €8,743,095 | +€1.9m | +27.7% |
| Amounts receivable within one year | 40/41 | €36,295 | €50,321 | +€14,026 | +38.6% |
| Trade receivables | 40 | €16,462 | €16,903 | +€441 | +2.7% |
| Other amounts receivable | 41 | €19,833 | €33,418 | +€13,585 | +68.5% |
| Current investments | 50/53 | €236,968 | €10,819 | -€226,149 | -95.4% |
| Cash at bank and in hand | 54/58 | €37,424 | €16,708 | -€20,716 | -55.4% |
| Total equity and liabilities | 10/49 | €11,578,877 | €13,598,043 | +€2.0m | +17.4% |
| Equity | 10/15 | €1,474,850 | €1,487,592 | +€12,743 | +0.9% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €2,736,576 | €2,676,885 | -€59,691 | -2.2% |
| Non-distributable reserves | 130/1 | €53,429 | €53,429 | = | 0.0% |
| Reserves not available under the articles | 1311 | €53,429 | €53,429 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,237,788 | €2,178,097 | -€59,691 | -2.7% |
| Distributable reserves | 133 | €445,359 | €445,359 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,391,726 | -€1,319,293 | +€72,433 | +5.2% |
| Provisions and deferred taxes | 16 | €567,374 | €560,016 | -€7,357 | -1.3% |
| Provisions for liabilities and charges | 160/5 | €23,658 | €21,138 | -€2,520 | -10.7% |
| Other liabilities and charges | 164/5 | €23,658 | €21,138 | -€2,520 | -10.7% |
| Deferred taxes | 168 | €543,716 | €538,879 | -€4,837 | -0.9% |
| Amounts payable | 17/49 | €9,536,654 | €11,550,434 | +€2.0m | +21.1% |
| Amounts payable after more than one year | 17 | €3,061,732 | €3,205,179 | +€143,446 | +4.7% |
| Financial debts | 170/4 | €1,553,332 | €1,696,779 | +€143,446 | +9.2% |
| Other amounts payable | 178/9 | €1,508,400 | €1,508,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,474,922 | €8,345,255 | +€1.9m | +28.9% |
| Current portion of amounts payable after more than one year | 42 | €240,524 | €250,842 | +€10,318 | +4.3% |
| Financial debts | 43 | €5,934,476 | €7,831,280 | +€1.9m | +32.0% |
| Credit institutions | 430/8 | €5,934,476 | €7,831,280 | +€1.9m | +32.0% |
| Trade debts | 44 | €297,260 | €118,644 | -€178,616 | -60.1% |
| Suppliers | 440/4 | €297,260 | €118,644 | -€178,616 | -60.1% |
| Taxes, remuneration and social security | 45 | €2,661 | €835 | -€1,826 | -68.6% |
| Taxes | 450/3 | €2,661 | €835 | -€1,826 | -68.6% |
| Other amounts payable | 47/48 | - | €143,654 | +€143,654 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,350 | €179,769 | +€18,419 | +11.4% |
| Other operating charges | 640/8 | €44,892 | €46,448 | +€1,556 | +3.5% |
| Gross operating margin | 9900 | €385,312 | €471,733 | +€86,421 | +22.4% |
| Operating profit (loss) | 9901 | €179,070 | €245,515 | +€66,446 | +37.1% |
| Financial income | 75/76B | €42,000 | €16,514 | -€25,486 | -60.7% |
| Recurring financial income | 75 | €42,000 | €16,514 | -€25,486 | -60.7% |
| Financial charges | 65/66B | €269,396 | €250,029 | -€19,366 | -7.2% |
| Recurring financial charges | 65 | €269,396 | €250,029 | -€19,366 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€48,326 | €12,000 | +€60,326 | |
| Transfer from deferred taxes | 780 | €1,910 | €4,837 | +€2,928 | +153% |
| Income taxes | 67/77 | €863 | €4,095 | +€3,233 | +375% |
| Profit (loss) for the period | 9904 | -€47,279 | €12,743 | +€60,021 | |
| Transfer from tax-exempt reserves | 789 | €50,907 | €59,691 | +€8,784 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,628 | €72,433 | +€68,805 | +1,896% |
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 15 October 2026 via checked.be.