CRAX: 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.
CRAX
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+15.3%), from €7.8m to €9.0m
of which Land and buildings: +€1.2m
- Cash -€1.1m
down €1.1m (-62.4%), from €1.7m to €638,325
mainly Investment in fixed assets (net) (-€1.7m) and Current investments (-€755,669)
- Current investments +€755,669
up €755,669 (+35.2%), from €2.1m to €2.9m
- Reserves +€826,000
up €826,000 (+7.4%), from €11.1m to €12.0m
- Financial income +€740,966
up €740,966 (+444.4%), from €166,723 to €907,688
- Depreciation +€150,393
up €150,393 (+45.5%), from €330,855 to €481,248
- Taxes -€42,289
down €42,289 (-59.6%), from €70,974 to €28,685
- Gross operating margin -€24,787
down €24,787 (-2.1%), from €1.2m to €1.2m
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 | €33,933,235 | €34,643,633 | +€710,398 | +2.1% |
| Fixed assets | 21/28 | €24,494,863 | €25,686,849 | +€1.2m | +4.9% |
| Tangible fixed assets | 22/27 | €7,810,863 | €9,002,849 | +€1.2m | +15.3% |
| Land and buildings | 22 | €7,808,579 | €9,001,184 | +€1.2m | +15.3% |
| Plant, machinery and equipment | 23 | €2,284 | €1,666 | -€618 | -27.1% |
| Financial fixed assets | 28 | €16,684,000 | €16,684,000 | = | 0.0% |
| Current assets | 29/58 | €9,438,372 | €8,956,784 | -€481,589 | -5.1% |
| Amounts receivable after more than one year | 29 | €5,160,000 | €4,894,000 | -€266,000 | -5.2% |
| Trade receivables | 290 | €5,160,000 | €0 | -€5.2m | -100.0% |
| Other amounts receivable | 291 | - | €4,894,000 | +€4.9m | |
| Amounts receivable within one year | 40/41 | €304,817 | €391,328 | +€86,511 | +28.4% |
| Trade receivables | 40 | €0 | €69,707 | +€69,707 | |
| Other amounts receivable | 41 | €304,817 | €321,621 | +€16,803 | +5.5% |
| Current investments | 50/53 | €2,147,707 | €2,903,376 | +€755,669 | +35.2% |
| Cash at bank and in hand | 54/58 | €1,699,677 | €638,325 | -€1.1m | -62.4% |
| Deferred charges and accrued income | 490/1 | €126,171 | €129,755 | +€3,584 | +2.8% |
| Total equity and liabilities | 10/49 | €33,933,235 | €34,643,633 | +€710,398 | +2.1% |
| Equity | 10/15 | €27,827,358 | €28,653,874 | +€826,517 | +3.0% |
| Contributions | 10/11 | €16,684,000 | €16,684,000 | = | 0.0% |
| Reserves | 13 | €11,143,000 | €11,969,000 | +€826,000 | +7.4% |
| Distributable reserves | 133 | €11,143,000 | €11,969,000 | +€826,000 | +7.4% |
| Profit (loss) carried forward | 14 | €358 | €874 | +€517 | +144.6% |
| Amounts payable | 17/49 | €6,105,878 | €5,989,758 | -€116,119 | -1.9% |
| Amounts payable after more than one year | 17 | €5,665,510 | €5,459,816 | -€205,694 | -3.6% |
| Financial debts | 170/4 | €5,665,510 | €5,459,816 | -€205,694 | -3.6% |
| Amounts payable within one year | 42/48 | €363,161 | €452,736 | +€89,575 | +24.7% |
| Current portion of amounts payable after more than one year | 42 | €203,696 | €205,694 | +€1,998 | +1.0% |
| Trade debts | 44 | €19,311 | €107,119 | +€87,808 | +454.7% |
| Suppliers | 440/4 | €19,311 | €107,119 | +€87,808 | +454.7% |
| Taxes, remuneration and social security | 45 | €140,154 | €139,923 | -€231 | -0.2% |
| Taxes | 450/3 | €47,408 | €47,901 | +€493 | +1.0% |
| Remuneration and social security | 454/9 | €92,745 | €92,022 | -€724 | -0.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €77,207 | €77,207 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €558,541 | €547,201 | -€11,340 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,855 | €481,248 | +€150,393 | +45.5% |
| Other operating charges | 640/8 | €87,375 | €75,706 | -€11,670 | -13.4% |
| Gross operating margin | 9900 | €1,204,960 | €1,180,173 | -€24,787 | -2.1% |
| Operating profit (loss) | 9901 | €228,188 | €76,018 | -€152,170 | -66.7% |
| Financial income | 75/76B | €166,723 | €907,688 | +€740,966 | +444.4% |
| Recurring financial income | 75 | €166,723 | €907,688 | +€740,966 | +444.4% |
| Financial charges | 65/66B | €121,765 | €128,505 | +€6,739 | +5.5% |
| Recurring financial charges | 65 | €121,765 | €128,505 | +€6,739 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €273,145 | €855,202 | +€582,056 | +213.1% |
| Income taxes | 67/77 | €70,974 | €28,685 | -€42,289 | -59.6% |
| Profit (loss) for the period | 9904 | €202,171 | €826,517 | +€624,345 | +308.8% |
| Profit (loss) for the period to be appropriated | 9905 | €202,171 | €826,517 | +€624,345 | +308.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.