CRDB: 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.
What changed
CRDB
NACE 43.320, Joinery installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.8m
2024 · €393,199+€1.4m
Equity
€3.1m
2024 · €2.0m+€1.1m
Cash
€1.1m
2024 · €1.1m+€34,944
Balance sheet total
€10.5m
2024 · €9.0m+€1.6m
Largest movements
Assets
- Receivables within one year +€1.0m
up €1.0m (+15.5%), from €6.6m to €7.6m
of which Trade receivables: +€1.2m
- Stocks and contracts +€621,826
up €621,826 (+74.8%), from €831,055 to €1.5m
of which Contracts in progress: +€779,529
- Tangible fixed assets -€121,790
down €121,790 (-26.5%), from €458,961 to €337,171
Equity and liabilities
- Reserves +€1.1m
up €1.1m (+60.3%), from €1.9m to €3.0m
- Other debts +€670,000
up €670,000, from €0 to €670,000
- Trade debts -€111,648
down €111,648 (-3.1%), from €3.6m to €3.5m
Income statement
- Turnover +€20.4m
new in 2025: €20.4m
- Goods and materials +€15.0m
new in 2025: €15.0m
of which Purchases: +€14.8m
- Gross operating margin -€2.4m
no longer reported in 2025 (was €2.4m)
- Services and other goods +€2.4m
new in 2025: €2.4m
- Taxes +€329,034
up €329,034 (+311.4%), from €105,648 to €434,682
of which Taxes: +€434,682
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
€393,199
Turnover
+€20.4m
Other operating income
+€64,063
Goods and materials
-€15.0m
Services and other goods
-€2.4m
Staff costs
+€266,271
Depreciation
-€13,096
Other operating charges
+€37,460
Other operating items
-€1.7m
Financial income
-€27,781
Financial charges
-€10,489
Taxes
-€329,034
Result 2025
€1.8m
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.
From operations
+€808,035
Investment
-€41,100
Financing
-€731,991
Cash 2024
€1.1m
From operations (derived)
+€808,035
Net result for the year
+€1.8m
Depreciation
+€166,355
Stocks and contracts
-€621,826
Receivables within one year
-€1.0m
Deferred charges and accrued income
-€11,697
Trade debts
-€111,648
Smaller working-capital items
+€3,965
Advances received
-€82,623
Other debts
+€670,000
Investment (derived)
-€41,100
Investment in fixed assets (net)
-€41,100
Financing
-€731,991
Debts after one year
-€54,507
Current portion of long-term debt
-€6,699
Short-term financial debts
-€785
Contributions, distributions and other
-€670,000
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,978,461 | €10,541,272 | +€1.6m | +17.4% |
| Fixed assets | 21/28 | €474,582 | €349,327 | -€125,255 | -26.4% |
| Intangible fixed assets | 21 | €850 | €0 | -€850 | -100.0% |
| Tangible fixed assets | 22/27 | €458,961 | €337,171 | -€121,790 | -26.5% |
| Plant, machinery and equipment | 23 | €13,604 | €7,811 | -€5,794 | -42.6% |
| Furniture and vehicles | 24 | €297,423 | €241,824 | -€55,599 | -18.7% |
| Leasing and similar rights | 25 | €147,934 | €87,536 | -€60,398 | -40.8% |
| Financial fixed assets | 28 | €14,771 | €12,157 | -€2,614 | -17.7% |
| Other financial fixed assets | 284/8 | - | €12,157 | +€12,157 | |
| Amounts receivable and cash guarantees | 285/8 | - | €12,157 | +€12,157 | |
| Current assets | 29/58 | €8,503,879 | €10,191,945 | +€1.7m | +19.9% |
| Stocks and contracts in progress | 3 | €831,055 | €1,452,881 | +€621,826 | +74.8% |
| Stocks | 30/36 | €813,055 | €655,352 | -€157,703 | -19.4% |
| Raw materials and consumables | 30/31 | - | €655,352 | +€655,352 | |
| Contracts in progress | 37 | €18,000 | €797,529 | +€779,529 | +4330.7% |
| Amounts receivable within one year | 40/41 | €6,561,176 | €7,580,776 | +€1.0m | +15.5% |
| Trade receivables | 40 | €5,124,282 | €6,301,924 | +€1.2m | +23.0% |
| Other amounts receivable | 41 | €1,436,894 | €1,278,851 | -€158,043 | -11.0% |
| Cash at bank and in hand | 54/58 | €1,099,151 | €1,134,096 | +€34,944 | +3.2% |
| Deferred charges and accrued income | 490/1 | €12,496 | €24,193 | +€11,697 | +93.6% |
| Total equity and liabilities | 10/49 | €8,978,461 | €10,541,272 | +€1.6m | +17.4% |
| Equity | 10/15 | €2,001,118 | €3,146,226 | +€1.1m | +57.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,900,000 | €3,045,000 | +€1.1m | +60.3% |
| Distributable reserves | 133 | €1,900,000 | €3,045,000 | +€1.1m | +60.3% |
| Profit (loss) carried forward | 14 | €1,118 | €1,226 | +€108 | +9.6% |
| Amounts payable | 17/49 | €6,977,343 | €7,395,046 | +€417,703 | +6.0% |
| Amounts payable after more than one year | 17 | €89,474 | €34,967 | -€54,507 | -60.9% |
| Financial debts | 170/4 | - | €34,967 | +€34,967 | |
| Leasing and similar obligations | 172 | - | €34,967 | +€34,967 | |
| Trade debts | 175 | €89,474 | - | -€89,474 | |
| Amounts payable within one year | 42/48 | €6,887,067 | €7,358,120 | +€471,052 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €61,206 | €54,507 | -€6,699 | -10.9% |
| Financial debts | 43 | €500,785 | €500,000 | -€785 | -0.2% |
| Credit institutions | 430/8 | €500,785 | €500,000 | -€785 | -0.2% |
| Trade debts | 44 | €3,639,241 | €3,527,593 | -€111,648 | -3.1% |
| Suppliers | 440/4 | €3,639,241 | €3,527,593 | -€111,648 | -3.1% |
| Advances received on contracts in progress | 46 | €2,514,551 | €2,431,928 | -€82,623 | -3.3% |
| Taxes, remuneration and social security | 45 | €171,285 | €174,092 | +€2,807 | +1.6% |
| Taxes | 450/3 | €89,872 | €86,909 | -€2,963 | -3.3% |
| Remuneration and social security | 454/9 | €81,413 | €87,183 | +€5,770 | +7.1% |
| Other amounts payable | 47/48 | €0 | €670,000 | +€670,000 | |
| Accrued charges and deferred income | 492/3 | €801 | €1,959 | +€1,158 | +144.5% |
| Operating income | 70/76A | - | €21,295,875 | +€21.3m | |
| Turnover | 70 | - | €20,449,784 | +€20.4m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €779,529 | +€779,529 | |
| Other operating income | 74 | - | €64,063 | +€64,063 | |
| Non-recurring operating income | 76A | €3,653 | €2,500 | -€1,153 | -31.6% |
| Operating charges | 60/66A | - | €18,994,538 | +€19.0m | |
| Goods for resale, raw materials and consumables | 60 | - | €14,999,069 | +€15.0m | |
| Purchases | 600/8 | - | €14,841,365 | +€14.8m | |
| Change in stocks: decrease (increase) | 609 | - | €157,703 | +€157,703 | |
| Services and other goods | 61 | - | €2,362,677 | +€2.4m | |
| Remuneration, social security and pensions | 62 | €1,726,256 | €1,459,985 | -€266,271 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,259 | €166,355 | +€13,096 | +8.5% |
| Other operating charges | 640/8 | €43,912 | €6,452 | -€37,460 | -85.3% |
| Gross operating margin | 9900 | €2,435,551 | - | -€2.4m | |
| Operating profit (loss) | 9901 | €512,124 | €2,301,337 | +€1.8m | +349.4% |
| Financial income | 75/76B | €37,165 | €9,384 | -€27,781 | -74.8% |
| Recurring financial income | 75 | €37,165 | €9,384 | -€27,781 | -74.8% |
| Income from financial fixed assets | 750 | - | €0 | = | |
| Income from current assets | 751 | - | €156 | +€156 | |
| Other financial income | 752/9 | - | €9,228 | +€9,228 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €50,442 | €60,931 | +€10,489 | +20.8% |
| Recurring financial charges | 65 | €47,282 | €58,622 | +€11,340 | +24.0% |
| Debt charges | 650 | - | €45,124 | +€45,124 | |
| Other financial charges | 652/9 | - | €13,498 | +€13,498 | |
| Non-recurring financial charges | 66B | €3,161 | €2,309 | -€852 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €498,846 | €2,249,790 | +€1.8m | +351.0% |
| Income taxes | 67/77 | €105,648 | €434,682 | +€329,034 | +311.4% |
| Taxes | 670/3 | - | €434,682 | +€434,682 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €393,199 | €1,815,108 | +€1.4m | +361.6% |
| Profit (loss) for the period to be appropriated | 9905 | €393,199 | €1,815,108 | +€1.4m | +361.6% |
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 2 October 2026 via checked.be.