CROISI D'OR: 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.
CROISI D'OR
Largest movements
- Tangible fixed assets +€55,163
up €55,163 (+26.3%), from €210,090 to €265,253
of which Plant, machinery and equipment: +€75,381
- Cash -€10,459
no longer reported in 2025 (was €10,459)
mainly Investment in fixed assets (net) (-€108,579) and Debts after one year (-€31,443)
- Receivables within one year +€4,831
up €4,831 (+6.5%), from €74,045 to €78,876
of which Other amounts receivable: +€21,601
- Trade debts +€100,701
up €100,701 (+302%), from €33,377 to €134,077
- Debts after one year -€31,443
down €31,443 (-41.0%), from €76,619 to €45,176
- Profit (loss) carried forward -€10,980
down €10,980 (-21.2%), from €51,869 to €40,889
- Current portion of long-term debt -€9,197
down €9,197 (-22.6%), from €40,640 to €31,443
- Other debts +€5,554
up €5,554 (+8.1%), from €68,645 to €74,199
- Gross operating margin -€59,606
down €59,606 (-55.7%), from €106,953 to €47,347
- Depreciation +€5,254
up €5,254 (+10.9%), from €48,163 to €53,416
- Financial charges -€3,257
down €3,257 (-40.9%), from €7,969 to €4,712
- Taxes -€2,876
no longer reported in 2025 (was €2,876)
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 | €294,987 | €344,492 | +€49,505 | +16.8% |
| Fixed assets | 21/28 | €210,090 | €265,253 | +€55,163 | +26.3% |
| Tangible fixed assets | 22/27 | €210,090 | €265,253 | +€55,163 | +26.3% |
| Plant, machinery and equipment | 23 | €119,282 | €194,662 | +€75,381 | +63.2% |
| Furniture and vehicles | 24 | €262 | €196 | -€66 | -25.3% |
| Leasing and similar rights | 25 | €62,757 | €47,057 | -€15,700 | -25.0% |
| Other tangible fixed assets | 26 | €27,790 | €23,338 | -€4,452 | -16.0% |
| Current assets | 29/58 | €84,897 | €79,239 | -€5,658 | -6.7% |
| Amounts receivable within one year | 40/41 | €74,045 | €78,876 | +€4,831 | +6.5% |
| Trade receivables | 40 | €51,864 | €35,094 | -€16,770 | -32.3% |
| Other amounts receivable | 41 | €22,182 | €43,782 | +€21,601 | +97.4% |
| Cash at bank and in hand | 54/58 | €10,459 | - | -€10,459 | |
| Deferred charges and accrued income | 490/1 | €393 | €363 | -€30 | -7.6% |
| Total equity and liabilities | 10/49 | €294,987 | €344,492 | +€49,505 | +16.8% |
| Equity | 10/15 | €70,469 | €59,489 | -€10,980 | -15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,869 | €40,889 | -€10,980 | -21.2% |
| Amounts payable | 17/49 | €224,518 | €285,003 | +€60,485 | +26.9% |
| Amounts payable after more than one year | 17 | €76,619 | €45,176 | -€31,443 | -41.0% |
| Financial debts | 170/4 | €76,619 | €45,176 | -€31,443 | -41.0% |
| Amounts payable within one year | 42/48 | €147,899 | €239,827 | +€91,928 | +62.2% |
| Current portion of amounts payable after more than one year | 42 | €40,640 | €31,443 | -€9,197 | -22.6% |
| Financial debts | 43 | - | €62 | +€62 | |
| Credit institutions | 430/8 | - | €62 | +€62 | |
| Trade debts | 44 | €33,377 | €134,077 | +€100,701 | +302% |
| Suppliers | 440/4 | €33,377 | €134,077 | +€100,701 | +302% |
| Taxes, remuneration and social security | 45 | €5,237 | €45 | -€5,192 | -99.1% |
| Taxes | 450/3 | €5,237 | €45 | -€5,192 | -99.1% |
| Other amounts payable | 47/48 | €68,645 | €74,199 | +€5,554 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,163 | €53,416 | +€5,254 | +10.9% |
| Other operating charges | 640/8 | €587 | €200 | -€387 | -65.9% |
| Gross operating margin | 9900 | €106,953 | €47,347 | -€59,606 | -55.7% |
| Operating profit (loss) | 9901 | €58,203 | -€6,269 | -€64,472 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €7,969 | €4,712 | -€3,257 | -40.9% |
| Recurring financial charges | 65 | €7,969 | €4,712 | -€3,257 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €50,234 | -€10,980 | -€61,214 | |
| Income taxes | 67/77 | €2,876 | - | -€2,876 | |
| Profit (loss) for the period | 9904 | €47,359 | -€10,980 | -€58,338 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,359 | -€10,980 | -€58,338 |
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 22 October 2026 via checked.be.