CROFAR: 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.
CROFAR
Largest movements
- Cash +€127,549
up €127,549 (+140.0%), from €91,131 to €218,680
mainly Other debts (+€468,720) and Net result for the year (+€191,480)
- Receivables within one year +€44,992
up €44,992 (+270.3%), from €16,647 to €61,639
of which Trade receivables: +€45,056
- Current investments -€15,170
down €15,170 (-21.7%), from €69,801 to €54,631
- Other debts +€468,720
up €468,720 (+317.0%), from €147,848 to €616,568
- Profit (loss) carried forward -€308,520
down €308,520 (-67.2%), from €458,869 to €150,349
- Gross operating margin +€98,342
up €98,342 (+76.0%), from €129,415 to €227,756
- Taxes +€28,191
up €28,191 (+96.5%), from €29,200 to €57,392
- Financial income -€18,447
down €18,447 (-44.5%), from €41,446 to €22,999
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 | €647,897 | €804,354 | +€156,457 | +24.1% |
| Fixed assets | 21/28 | €470,318 | €469,405 | -€913 | -0.2% |
| Tangible fixed assets | 22/27 | €2,818 | €1,905 | -€913 | -32.4% |
| Plant, machinery and equipment | 23 | €2,286 | €1,794 | -€492 | -21.5% |
| Furniture and vehicles | 24 | €532 | €111 | -€421 | -79.2% |
| Financial fixed assets | 28 | €467,500 | €467,500 | = | 0.0% |
| Current assets | 29/58 | €177,579 | €334,949 | +€157,370 | +88.6% |
| Amounts receivable within one year | 40/41 | €16,647 | €61,639 | +€44,992 | +270.3% |
| Trade receivables | 40 | €15,942 | €60,998 | +€45,056 | +282.6% |
| Other amounts receivable | 41 | €705 | €641 | -€64 | -9.1% |
| Current investments | 50/53 | €69,801 | €54,631 | -€15,170 | -21.7% |
| Cash at bank and in hand | 54/58 | €91,131 | €218,680 | +€127,549 | +140.0% |
| Total equity and liabilities | 10/49 | €647,897 | €804,354 | +€156,457 | +24.1% |
| Equity | 10/15 | €479,329 | €170,809 | -€308,520 | -64.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €458,869 | €150,349 | -€308,520 | -67.2% |
| Amounts payable | 17/49 | €168,568 | €633,545 | +€464,977 | +275.8% |
| Amounts payable within one year | 42/48 | €168,568 | €633,545 | +€464,977 | +275.8% |
| Trade debts | 44 | €1,285 | €1,005 | -€280 | -21.8% |
| Suppliers | 440/4 | €1,285 | €1,005 | -€280 | -21.8% |
| Taxes, remuneration and social security | 45 | €19,435 | €15,972 | -€3,463 | -17.8% |
| Taxes | 450/3 | €19,435 | €15,972 | -€3,463 | -17.8% |
| Other amounts payable | 47/48 | €147,848 | €616,568 | +€468,720 | +317.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €593 | €913 | +€320 | +53.9% |
| Other operating charges | 640/8 | €432 | €651 | +€219 | +50.7% |
| Gross operating margin | 9900 | €129,415 | €227,756 | +€98,342 | +76.0% |
| Operating profit (loss) | 9901 | €128,389 | €226,192 | +€97,803 | +76.2% |
| Financial income | 75/76B | €41,446 | €22,999 | -€18,447 | -44.5% |
| Recurring financial income | 75 | €41,446 | €22,999 | -€18,447 | -44.5% |
| Financial charges | 65/66B | €724 | €319 | -€405 | -56.0% |
| Recurring financial charges | 65 | €724 | €319 | -€405 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €169,111 | €248,872 | +€79,761 | +47.2% |
| Income taxes | 67/77 | €29,200 | €57,392 | +€28,191 | +96.5% |
| Profit (loss) for the period | 9904 | €139,911 | €191,480 | +€51,569 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €139,911 | €191,480 | +€51,569 | +36.9% |
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 6 October 2026 via checked.be.