CRL PROPERTIES: 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.
What changed
CRL PROPERTIES
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€239,217
2024 · €393,646-€154,429
Equity
€3.4m
2024 · €3.2m+€239,217
Cash
€424,641
2024 · €1.3m-€851,677
Balance sheet total
€11.3m
2024 · €11.2m+€87,954
Largest movements
Assets
- Cash -€851,677
down €851,677 (-66.7%), from €1.3m to €424,641
mainly Investment in fixed assets (net) (-€883,710) and Current investments (-€609,022)
- Current investments +€609,022
up €609,022 (+2,536%), from €24,018 to €633,039
- Tangible fixed assets +€304,346
up €304,346 (+3.1%), from €9.8m to €10.1m
of which Assets under construction and advance payments: +€485,508
Equity and liabilities
- Debts after one year -€565,253
down €565,253 (-8.1%), from €7.0m to €6.5m
of which Financial debts: -€491,722
- Short-term financial debts +€347,500
up €347,500 (+662%), from €52,500 to €400,000
- Reserves +€237,608
up €237,608 (+14.8%), from €1.6m to €1.8m
of which Distributable reserves: +€265,000
Income statement
- Gross operating margin -€103,319
down €103,319 (-7.3%), from €1.4m to €1.3m
- Taxes -€19,796
down €19,796 (-11.1%), from €178,135 to €158,339
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
€393,646
Gross operating margin
-€103,319
Staff costs
-€8,269
Depreciation
-€10,469
Other operating charges
-€7,377
Other operating items
-€15,958
Financial income
-€3,272
Financial charges
-€13,626
Taxes
+€19,796
Deferred taxes and other
-€11,935
Result 2025
€239,217
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€862,300
Investment
-€1.5m
Financing
-€221,245
Cash 2024
€1.3m
From operations (derived)
+€862,300
Net result for the year
+€239,217
Depreciation
+€531,394
Stocks and contracts
-€10,122
Receivables within one year
-€6,625
Deferred charges and accrued income
+€38,455
Provisions
-€9,131
Trade debts
+€12,640
Tax, wage and social debts
+€54,036
Other debts
+€5,333
Accrued charges and deferred income
+€7,104
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€883,710
Current investments
-€609,022
Financing
-€221,245
Debts after one year
-€565,253
Current portion of long-term debt
-€3,492
Short-term financial debts
+€347,500
Cash 2025
€424,641
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,216,715 | €11,304,668 | +€87,954 | +0.8% |
| Fixed assets | 21/28 | €9,802,729 | €10,155,045 | +€352,316 | +3.6% |
| Intangible fixed assets | 21 | €7,514 | €5,484 | -€2,030 | -27.0% |
| Tangible fixed assets | 22/27 | €9,795,165 | €10,099,511 | +€304,346 | +3.1% |
| Land and buildings | 22 | €9,539,269 | €9,322,280 | -€216,988 | -2.3% |
| Furniture and vehicles | 24 | €156,825 | €127,240 | -€29,585 | -18.9% |
| Other tangible fixed assets | 26 | €99,070 | €164,483 | +€65,412 | +66.0% |
| Assets under construction and advance payments | 27 | €0 | €485,508 | +€485,508 | |
| Financial fixed assets | 28 | €50 | €50,050 | +€50,000 | +100,000% |
| Current assets | 29/58 | €1,413,986 | €1,149,623 | -€264,363 | -18.7% |
| Stocks and contracts in progress | 3 | €34,131 | €44,253 | +€10,122 | +29.7% |
| Stocks | 30/36 | €34,131 | €44,253 | +€10,122 | +29.7% |
| Amounts receivable within one year | 40/41 | €14,723 | €21,348 | +€6,625 | +45.0% |
| Trade receivables | 40 | €12,100 | €16,874 | +€4,774 | +39.5% |
| Other amounts receivable | 41 | €2,623 | €4,474 | +€1,851 | +70.6% |
| Current investments | 50/53 | €24,018 | €633,039 | +€609,022 | +2,536% |
| Cash at bank and in hand | 54/58 | €1,276,317 | €424,641 | -€851,677 | -66.7% |
| Deferred charges and accrued income | 490/1 | €64,797 | €26,342 | -€38,455 | -59.3% |
| Total equity and liabilities | 10/49 | €11,216,715 | €11,304,668 | +€87,954 | +0.8% |
| Equity | 10/15 | €3,175,285 | €3,414,502 | +€239,217 | +7.5% |
| Contributions | 10/11 | €1,564,600 | €1,564,600 | = | 0.0% |
| Reserves | 13 | €1,606,110 | €1,843,718 | +€237,608 | +14.8% |
| Tax-exempt reserves | 132 | €331,661 | €304,269 | -€27,392 | -8.3% |
| Distributable reserves | 133 | €1,274,449 | €1,539,449 | +€265,000 | +20.8% |
| Profit (loss) carried forward | 14 | €4,575 | €6,184 | +€1,609 | +35.2% |
| Provisions and deferred taxes | 16 | €112,630 | €103,499 | -€9,131 | -8.1% |
| Deferred taxes | 168 | €112,630 | €103,499 | -€9,131 | -8.1% |
| Amounts payable | 17/49 | €7,928,800 | €7,786,667 | -€142,133 | -1.8% |
| Amounts payable after more than one year | 17 | €7,021,716 | €6,456,463 | -€565,253 | -8.1% |
| Financial debts | 170/4 | €3,614,771 | €3,123,049 | -€491,722 | -13.6% |
| Other amounts payable | 178/9 | €3,406,945 | €3,333,414 | -€73,531 | -2.2% |
| Amounts payable within one year | 42/48 | €789,786 | €1,205,803 | +€416,016 | +52.7% |
| Current portion of amounts payable after more than one year | 42 | €552,214 | €548,722 | -€3,492 | -0.6% |
| Financial debts | 43 | €52,500 | €400,000 | +€347,500 | +662% |
| Credit institutions | 430/8 | €52,500 | €400,000 | +€347,500 | +662% |
| Trade debts | 44 | €37,876 | €50,516 | +€12,640 | +33.4% |
| Suppliers | 440/4 | €37,876 | €50,516 | +€12,640 | +33.4% |
| Taxes, remuneration and social security | 45 | €45,626 | €99,662 | +€54,036 | +118% |
| Taxes | 450/3 | €35,423 | €92,555 | +€57,132 | +161% |
| Remuneration and social security | 454/9 | €10,203 | €7,107 | -€3,096 | -30.3% |
| Other amounts payable | 47/48 | €101,570 | €106,903 | +€5,333 | +5.3% |
| Accrued charges and deferred income | 492/3 | €117,298 | €124,402 | +€7,104 | +6.1% |
| Non-recurring operating income | 76A | €26,305 | €19,596 | -€6,709 | -25.5% |
| Remuneration, social security and pensions | 62 | €45,537 | €53,806 | +€8,269 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €520,924 | €531,394 | +€10,469 | +2.0% |
| Other operating charges | 640/8 | €140,626 | €148,002 | +€7,377 | +5.2% |
| Non-recurring operating charges | 66A | €86 | €16,044 | +€15,958 | +18,502% |
| Gross operating margin | 9900 | €1,411,410 | €1,308,091 | -€103,319 | -7.3% |
| Operating profit (loss) | 9901 | €704,236 | €558,845 | -€145,391 | -20.6% |
| Financial income | 75/76B | €11,065 | €7,793 | -€3,272 | -29.6% |
| Recurring financial income | 75 | €9,065 | €7,793 | -€1,272 | -14.0% |
| Non-recurring financial income | 76B | €2,000 | €0 | -€2,000 | -100% |
| Financial charges | 65/66B | €164,586 | €178,212 | +€13,626 | +8.3% |
| Recurring financial charges | 65 | €164,586 | €178,212 | +€13,626 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €550,715 | €388,426 | -€162,290 | -29.5% |
| Transfer from deferred taxes | 780 | €21,066 | €9,131 | -€11,935 | -56.7% |
| Income taxes | 67/77 | €178,135 | €158,339 | -€19,796 | -11.1% |
| Profit (loss) for the period | 9904 | €393,646 | €239,217 | -€154,429 | -39.2% |
| Transfer from tax-exempt reserves | 789 | €58,941 | €27,392 | -€31,549 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €452,587 | €266,609 | -€185,978 | -41.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.