CRE: 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.
CRE
Largest movements
- Tangible fixed assets -€56,082
down €56,082 (-3.4%), from €1.7m to €1.6m
of which Land and buildings: -€55,888
- Receivables within one year -€45,417
down €45,417 (-92.0%), from €49,389 to €3,973
of which Other amounts receivable: -€25,000
- Cash +€44,616
up €44,616 (+373.6%), from €11,942 to €56,558
mainly Net result for the year (+€76,701) and Depreciation (+€60,364)
- Debts after one year -€95,589
down €95,589 (-9.3%), from €1.0m to €932,699
- Reserves +€58,769
up €58,769 (+14.4%), from €409,238 to €468,007
of which Distributable reserves: +€58,769
- Financial income -€49,990
down €49,990 (-99.0%), from €50,511 to €521
- Gross operating margin +€22,265
up €22,265 (+12.1%), from €183,608 to €205,873
- Other operating charges +€4,494
up €4,494 (+66.3%), from €6,779 to €11,272
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 | €2,718,624 | €2,653,675 | -€64,949 | -2.4% |
| Fixed assets | 21/28 | €2,636,379 | €2,580,297 | -€56,082 | -2.1% |
| Tangible fixed assets | 22/27 | €1,671,237 | €1,615,155 | -€56,082 | -3.4% |
| Land and buildings | 22 | €1,670,461 | €1,614,573 | -€55,888 | -3.3% |
| Other tangible fixed assets | 26 | €776 | €582 | -€194 | -25.0% |
| Financial fixed assets | 28 | €965,142 | €965,142 | = | 0.0% |
| Current assets | 29/58 | €82,245 | €73,378 | -€8,867 | -10.8% |
| Amounts receivable within one year | 40/41 | €49,389 | €3,973 | -€45,417 | -92.0% |
| Trade receivables | 40 | €24,389 | €3,973 | -€20,417 | -83.7% |
| Other amounts receivable | 41 | €25,000 | €0 | -€25,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €11,942 | €56,558 | +€44,616 | +373.6% |
| Deferred charges and accrued income | 490/1 | €20,914 | €12,848 | -€8,066 | -38.6% |
| Total equity and liabilities | 10/49 | €2,718,624 | €2,653,675 | -€64,949 | -2.4% |
| Equity | 10/15 | €1,478,617 | €1,537,386 | +€58,769 | +4.0% |
| Contributions | 10/11 | €977,267 | €977,267 | = | 0.0% |
| Reserves | 13 | €409,238 | €468,007 | +€58,769 | +14.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €409,238 | €468,007 | +€58,769 | +14.4% |
| Profit (loss) carried forward | 14 | €92,112 | €92,112 | = | 0.0% |
| Amounts payable | 17/49 | €1,240,007 | €1,116,289 | -€123,718 | -10.0% |
| Amounts payable after more than one year | 17 | €1,028,288 | €932,699 | -€95,589 | -9.3% |
| Financial debts | 170/4 | €1,028,288 | €932,699 | -€95,589 | -9.3% |
| Amounts payable within one year | 42/48 | €204,622 | €177,610 | -€27,012 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €101,900 | €103,488 | +€1,588 | +1.6% |
| Trade debts | 44 | €8,289 | €3,600 | -€4,689 | -56.6% |
| Suppliers | 440/4 | €8,289 | €3,600 | -€4,689 | -56.6% |
| Taxes, remuneration and social security | 45 | €35,070 | €19,902 | -€15,168 | -43.2% |
| Taxes | 450/3 | €32,522 | €19,902 | -€12,620 | -38.8% |
| Remuneration and social security | 454/9 | €2,548 | €0 | -€2,548 | -100.0% |
| Other amounts payable | 47/48 | €59,362 | €50,618 | -€8,744 | -14.7% |
| Accrued charges and deferred income | 492/3 | €7,098 | €5,981 | -€1,117 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,297 | €60,364 | -€933 | -1.5% |
| Other operating charges | 640/8 | €6,779 | €11,272 | +€4,494 | +66.3% |
| Gross operating margin | 9900 | €183,608 | €205,873 | +€22,265 | +12.1% |
| Operating profit (loss) | 9901 | €115,533 | €134,236 | +€18,703 | +16.2% |
| Financial income | 75/76B | €50,511 | €521 | -€49,990 | -99.0% |
| Recurring financial income | 75 | €50,511 | €521 | -€49,990 | -99.0% |
| Financial charges | 65/66B | €23,592 | €21,682 | -€1,910 | -8.1% |
| Recurring financial charges | 65 | €23,592 | €21,682 | -€1,910 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €142,452 | €113,075 | -€29,376 | -20.6% |
| Income taxes | 67/77 | €34,643 | €36,374 | +€1,731 | +5.0% |
| Profit (loss) for the period | 9904 | €107,809 | €76,701 | -€31,108 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €107,809 | €76,701 | -€31,108 | -28.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.