CROQUE n°12: 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.
CROQUE n°12
Largest movements
- Current investments -€37,000
down €37,000 (-49.3%), from €75,000 to €38,000
- Cash +€30,394
up €30,394 (+73.4%), from €41,398 to €71,792
mainly Current investments (+€37,000) and Net result for the year (+€23,602)
- Tangible fixed assets -€5,803
down €5,803 (-13.2%), from €43,853 to €38,050
of which Plant, machinery and equipment: -€5,231
- Receivables within one year -€4,600
down €4,600 (-51.0%), from €9,011 to €4,411
- Debts after one year -€17,697
no longer reported in 2025 (was €17,697)
- Other debts -€10,572
down €10,572 (-41.1%), from €25,745 to €15,173
- Tax, wage and social debts -€8,450
down €8,450 (-27.1%), from €31,137 to €22,687
of which Taxes: -€7,938
- Profit (loss) carried forward +€8,447
up €8,447 (+11.1%), from €76,259 to €84,706
- Trade debts +€8,057
up €8,057 (+68.5%), from €11,754 to €19,811
- Gross operating margin -€14,366
down €14,366 (-8.9%), from €160,547 to €146,181
- Taxes -€12,391
down €12,391 (-94.1%), from €13,163 to €772
- Financial charges +€7,398
up €7,398 (+306%), from €2,420 to €9,818
- Staff costs +€4,421
up €4,421 (+4.5%), from €98,230 to €102,651
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,760 | €181,496 | -€19,264 | -9.6% |
| Fixed assets | 21/28 | €62,653 | €56,850 | -€5,803 | -9.3% |
| Tangible fixed assets | 22/27 | €43,853 | €38,050 | -€5,803 | -13.2% |
| Plant, machinery and equipment | 23 | €26,062 | €20,831 | -€5,231 | -20.1% |
| Furniture and vehicles | 24 | €17,791 | €17,219 | -€572 | -3.2% |
| Financial fixed assets | 28 | €18,800 | €18,800 | = | 0.0% |
| Current assets | 29/58 | €138,107 | €124,646 | -€13,461 | -9.7% |
| Stocks and contracts in progress | 3 | €8,480 | €6,703 | -€1,777 | -21.0% |
| Stocks | 30/36 | €8,480 | €6,703 | -€1,777 | -21.0% |
| Amounts receivable within one year | 40/41 | €9,011 | €4,411 | -€4,600 | -51.0% |
| Trade receivables | 40 | €9,011 | €4,411 | -€4,600 | -51.0% |
| Current investments | 50/53 | €75,000 | €38,000 | -€37,000 | -49.3% |
| Cash at bank and in hand | 54/58 | €41,398 | €71,792 | +€30,394 | +73.4% |
| Deferred charges and accrued income | 490/1 | €4,218 | €3,740 | -€478 | -11.3% |
| Total equity and liabilities | 10/49 | €200,760 | €181,496 | -€19,264 | -9.6% |
| Equity | 10/15 | €94,859 | €103,306 | +€8,447 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,259 | €84,706 | +€8,447 | +11.1% |
| Amounts payable | 17/49 | €105,901 | €78,190 | -€27,711 | -26.2% |
| Amounts payable after more than one year | 17 | €17,697 | - | -€17,697 | |
| Financial debts | 170/4 | €17,697 | - | -€17,697 | |
| Amounts payable within one year | 42/48 | €87,566 | €76,788 | -€10,778 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €18,930 | €19,117 | +€187 | +1.0% |
| Trade debts | 44 | €11,754 | €19,811 | +€8,057 | +68.5% |
| Suppliers | 440/4 | €11,754 | €19,811 | +€8,057 | +68.5% |
| Taxes, remuneration and social security | 45 | €31,137 | €22,687 | -€8,450 | -27.1% |
| Taxes | 450/3 | €20,869 | €12,931 | -€7,938 | -38.0% |
| Remuneration and social security | 454/9 | €10,268 | €9,756 | -€512 | -5.0% |
| Other amounts payable | 47/48 | €25,745 | €15,173 | -€10,572 | -41.1% |
| Accrued charges and deferred income | 492/3 | €638 | €1,402 | +€764 | +120% |
| Remuneration, social security and pensions | 62 | €98,230 | €102,651 | +€4,421 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,608 | €10,596 | -€12 | -0.1% |
| Other operating charges | 640/8 | €765 | €780 | +€15 | +2.0% |
| Gross operating margin | 9900 | €160,547 | €146,181 | -€14,366 | -8.9% |
| Operating profit (loss) | 9901 | €50,944 | €32,154 | -€18,790 | -36.9% |
| Financial income | 75/76B | €1,691 | €2,038 | +€347 | +20.5% |
| Recurring financial income | 75 | €1,691 | €2,038 | +€347 | +20.5% |
| Financial charges | 65/66B | €2,420 | €9,818 | +€7,398 | +306% |
| Recurring financial charges | 65 | €2,420 | €9,818 | +€7,398 | +306% |
| Profit (loss) for the period before taxes | 9903 | €50,215 | €24,374 | -€25,841 | -51.5% |
| Income taxes | 67/77 | €13,163 | €772 | -€12,391 | -94.1% |
| Profit (loss) for the period | 9904 | €37,052 | €23,602 | -€13,450 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,052 | €23,602 | -€13,450 | -36.3% |
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 18 October 2026 via checked.be.