CRF EXPRESS STATION: 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.
CRF EXPRESS STATION
Largest movements
- Receivables within one year +€117,534
up €117,534 (+652%), from €18,026 to €135,560
of which Trade receivables: +€100,557
- Cash +€39,850
up €39,850 (+340%), from €11,711 to €51,561
mainly Trade debts (+€81,802) and Stocks and contracts (+€26,826)
- Stocks and contracts -€26,826
down €26,826 (-50.0%), from €53,652 to €26,826
- Trade debts +€81,802
up €81,802 (+110%), from €74,508 to €156,310
- Advances received +€25,987
new in 2025: €25,987
- Tax, wage and social debts +€15,654
up €15,654 (+112%), from €13,932 to €29,586
of which Taxes: +€14,657
- Accrued charges and deferred income -€12,270
down €12,270 (-89.3%), from €13,739 to €1,469
- Profit (loss) carried forward +€9,734
up €9,734 (+86.8%), from -€11,212 to -€1,478
- Staff costs -€60,950
down €60,950 (-34.3%), from €177,905 to €116,955
- Gross operating margin -€8,231
down €8,231 (-4.7%), from €174,044 to €165,813
- Taxes +€6,365
up €6,365 (+6,120%), from €104 to €6,469
- Financial charges +€2,145
up €2,145 (+38.7%), from €5,538 to €7,683
- Other operating charges +€2,096
up €2,096 (+683%), from €307 to €2,403
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,022 | €230,354 | +€130,332 | +130% |
| Formation expenses | 20 | €1,114 | - | -€1,114 | |
| Fixed assets | 21/28 | €13,998 | €16,009 | +€2,011 | +14.4% |
| Tangible fixed assets | 22/27 | €13,635 | €15,646 | +€2,011 | +14.8% |
| Plant, machinery and equipment | 23 | €10,619 | €9,479 | -€1,140 | -10.7% |
| Furniture and vehicles | 24 | €3,016 | €1,645 | -€1,371 | -45.4% |
| Other tangible fixed assets | 26 | - | €4,522 | +€4,522 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €84,910 | €214,345 | +€129,435 | +152% |
| Stocks and contracts in progress | 3 | €53,652 | €26,826 | -€26,826 | -50.0% |
| Stocks | 30/36 | €53,652 | €26,826 | -€26,826 | -50.0% |
| Amounts receivable within one year | 40/41 | €18,026 | €135,560 | +€117,534 | +652% |
| Trade receivables | 40 | €6,979 | €107,536 | +€100,557 | +1,441% |
| Other amounts receivable | 41 | €11,047 | €28,024 | +€16,977 | +154% |
| Cash at bank and in hand | 54/58 | €11,711 | €51,561 | +€39,850 | +340% |
| Deferred charges and accrued income | 490/1 | €1,521 | €399 | -€1,122 | -73.8% |
| Total equity and liabilities | 10/49 | €100,022 | €230,354 | +€130,332 | +130% |
| Equity | 10/15 | -€6,212 | €3,522 | +€9,734 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,212 | -€1,478 | +€9,734 | +86.8% |
| Amounts payable | 17/49 | €106,234 | €226,832 | +€120,598 | +114% |
| Amounts payable within one year | 42/48 | €92,495 | €225,363 | +€132,868 | +144% |
| Trade debts | 44 | €74,508 | €156,310 | +€81,802 | +110% |
| Suppliers | 440/4 | €74,508 | €156,310 | +€81,802 | +110% |
| Advances received on contracts in progress | 46 | - | €25,987 | +€25,987 | |
| Taxes, remuneration and social security | 45 | €13,932 | €29,586 | +€15,654 | +112% |
| Taxes | 450/3 | €285 | €14,942 | +€14,657 | +5,143% |
| Remuneration and social security | 454/9 | €13,647 | €14,644 | +€997 | +7.3% |
| Other amounts payable | 47/48 | €4,055 | €13,479 | +€9,424 | +232% |
| Accrued charges and deferred income | 492/3 | €13,739 | €1,469 | -€12,270 | -89.3% |
| Non-recurring operating income | 76A | - | €18,041 | +€18,041 | |
| Remuneration, social security and pensions | 62 | €177,905 | €116,955 | -€60,950 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,139 | €3,703 | +€1,564 | +73.1% |
| Other operating charges | 640/8 | €307 | €2,403 | +€2,096 | +683% |
| Non-recurring operating charges | 66A | - | €19,396 | +€19,396 | |
| Gross operating margin | 9900 | €174,044 | €165,813 | -€8,231 | -4.7% |
| Operating profit (loss) | 9901 | -€6,307 | €23,355 | +€29,662 | |
| Financial income | 75/76B | €737 | €532 | -€205 | -27.9% |
| Recurring financial income | 75 | €737 | €532 | -€205 | -27.9% |
| Financial charges | 65/66B | €5,538 | €7,683 | +€2,145 | +38.7% |
| Recurring financial charges | 65 | €5,538 | €7,683 | +€2,145 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,108 | €16,204 | +€27,312 | |
| Income taxes | 67/77 | €104 | €6,469 | +€6,365 | +6,120% |
| Profit (loss) for the period | 9904 | -€11,212 | €9,735 | +€20,947 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,212 | €9,735 | +€20,947 |
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 26 October 2026 via checked.be.