CRAZY HORSE: what changed
CRAZY HORSE
Largest movements
- Receivables within one year +€9,888
up €9,888 (+20.1%), from €49,162 to €59,050
of which Other amounts receivable: +€10,618
- Cash -€3,068
down €3,068 (-68.0%), from €4,510 to €1,443
mainly Receivables within one year (-€9,888) and Tax, wage and social debts (-€5,717)
- Tangible fixed assets -€2,893
down €2,893 (-54.5%), from €5,311 to €2,419
- Reserves +€12,775
up €12,775 (+46.8%), from €27,295 to €40,070
- Tax, wage and social debts -€5,717
down €5,717 (-83.2%), from €6,873 to €1,156
- Debts after one year -€2,495
no longer reported in 2025 (was €2,495)
- Gross operating margin -€6,076
down €6,076 (-21.0%), from €28,937 to €22,861
- Taxes -€1,894
down €1,894 (-21.2%), from €8,930 to €7,036
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,191 | €63,133 | +€3,942 | +6.7% |
| Fixed assets | 21/28 | €5,311 | €2,419 | -€2,893 | -54.5% |
| Tangible fixed assets | 22/27 | €5,311 | €2,419 | -€2,893 | -54.5% |
| Leasing and similar rights | 25 | €5,311 | €2,419 | -€2,893 | -54.5% |
| Current assets | 29/58 | €53,880 | €60,715 | +€6,835 | +12.7% |
| Amounts receivable within one year | 40/41 | €49,162 | €59,050 | +€9,888 | +20.1% |
| Trade receivables | 40 | €2,012 | €1,282 | -€730 | -36.3% |
| Other amounts receivable | 41 | €47,150 | €57,768 | +€10,618 | +22.5% |
| Cash at bank and in hand | 54/58 | €4,510 | €1,443 | -€3,068 | -68.0% |
| Deferred charges and accrued income | 490/1 | €207 | €222 | +€15 | +7.2% |
| Total equity and liabilities | 10/49 | €59,191 | €63,133 | +€3,942 | +6.7% |
| Equity | 10/15 | €45,905 | €58,682 | +€12,777 | +27.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,295 | €40,070 | +€12,775 | +46.8% |
| Distributable reserves | 133 | €27,295 | €40,070 | +€12,775 | +46.8% |
| Profit (loss) carried forward | 14 | €10 | €12 | +€2 | +21.0% |
| Amounts payable | 17/49 | €13,286 | €4,451 | -€8,835 | -66.5% |
| Amounts payable after more than one year | 17 | €2,495 | - | -€2,495 | |
| Financial debts | 170/4 | €2,495 | - | -€2,495 | |
| Amounts payable within one year | 42/48 | €10,260 | €4,448 | -€5,812 | -56.6% |
| Current portion of amounts payable after more than one year | 42 | €2,948 | €2,495 | -€454 | -15.4% |
| Trade debts | 44 | €439 | €797 | +€358 | +81.7% |
| Suppliers | 440/4 | €439 | €797 | +€358 | +81.7% |
| Taxes, remuneration and social security | 45 | €6,873 | €1,156 | -€5,717 | -83.2% |
| Taxes | 450/3 | €6,873 | €1,156 | -€5,717 | -83.2% |
| Accrued charges and deferred income | 492/3 | €531 | €3 | -€528 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,893 | €2,893 | = | 0.0% |
| Other operating charges | 640/8 | €978 | €860 | -€118 | -12.1% |
| Gross operating margin | 9900 | €28,937 | €22,861 | -€6,076 | -21.0% |
| Operating profit (loss) | 9901 | €25,066 | €19,108 | -€5,958 | -23.8% |
| Financial income | 75/76B | €705 | €897 | +€192 | +27.3% |
| Recurring financial income | 75 | €705 | €897 | +€192 | +27.3% |
| Financial charges | 65/66B | €271 | €192 | -€79 | -29.1% |
| Recurring financial charges | 65 | €271 | €192 | -€79 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €25,500 | €19,813 | -€5,687 | -22.3% |
| Income taxes | 67/77 | €8,930 | €7,036 | -€1,894 | -21.2% |
| Profit (loss) for the period | 9904 | €16,570 | €12,777 | -€3,793 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,570 | €12,777 | -€3,793 | -22.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.