CROQUE RAOUL: 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 RAOUL
Largest movements
- Receivables after one year +€39,552
up €39,552 (+146%), from €27,172 to €66,724
- Receivables within one year -€13,400
down €13,400 (-46.2%), from €29,016 to €15,616
- Cash +€10,739
up €10,739 (+73.2%), from €14,672 to €25,411
mainly Net result for the year (+€35,549) and Tax, wage and social debts (+€13,892)
- Deferred charges and accrued income -€4,437
down €4,437 (-13.5%), from €32,845 to €28,408
- Reserves +€35,549
up €35,549 (+77.5%), from €45,885 to €81,434
- Short-term financial debts -€16,000
no longer reported in 2025 (was €16,000)
- Tax, wage and social debts +€13,892
up €13,892 (+126%), from €11,065 to €24,957
- Debts after one year -€8,717
down €8,717 (-23.9%), from €36,429 to €27,712
- Trade debts +€3,825
up €3,825 (+16.8%), from €22,769 to €26,594
- Gross operating margin -€23,325
down €23,325 (-26.8%), from €86,943 to €63,618
- Taxes -€14,600
down €14,600 (-55.0%), from €26,552 to €11,952
- Depreciation +€5,941
up €5,941 (+105%), from €5,640 to €11,580
- Financial charges +€2,242
up €2,242 (+73.7%), from €3,045 to €5,287
- Financial income +€1,935
up €1,935 (+205%), from €946 to €2,881
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 | €149,410 | €182,588 | +€33,178 | +22.2% |
| Fixed assets | 21/28 | €45,705 | €46,236 | +€531 | +1.2% |
| Intangible fixed assets | 21 | €1,033 | €413 | -€620 | -60.0% |
| Tangible fixed assets | 22/27 | €44,657 | €45,783 | +€1,127 | +2.5% |
| Plant, machinery and equipment | 23 | €6,532 | €6,977 | +€445 | +6.8% |
| Furniture and vehicles | 24 | €9,751 | €8,522 | -€1,229 | -12.6% |
| Leasing and similar rights | 25 | €28,012 | €29,980 | +€1,968 | +7.0% |
| Other tangible fixed assets | 26 | €362 | €304 | -€58 | -16.0% |
| Financial fixed assets | 28 | €16 | €40 | +€24 | +153% |
| Current assets | 29/58 | €103,705 | €136,353 | +€32,647 | +31.5% |
| Amounts receivable after more than one year | 29 | €27,172 | €66,724 | +€39,552 | +146% |
| Other amounts receivable | 291 | €27,172 | €66,724 | +€39,552 | +146% |
| Stocks and contracts in progress | 3 | - | €194 | +€194 | |
| Stocks | 30/36 | - | €194 | +€194 | |
| Amounts receivable within one year | 40/41 | €29,016 | €15,616 | -€13,400 | -46.2% |
| Trade receivables | 40 | €29,016 | €15,616 | -€13,400 | -46.2% |
| Cash at bank and in hand | 54/58 | €14,672 | €25,411 | +€10,739 | +73.2% |
| Deferred charges and accrued income | 490/1 | €32,845 | €28,408 | -€4,437 | -13.5% |
| Total equity and liabilities | 10/49 | €149,410 | €182,588 | +€33,178 | +22.2% |
| Equity | 10/15 | €47,174 | €82,723 | +€35,549 | +75.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €45,885 | €81,434 | +€35,549 | +77.5% |
| Distributable reserves | 133 | €45,885 | €81,434 | +€35,549 | +77.5% |
| Profit (loss) carried forward | 14 | -€211 | -€211 | = | 0.0% |
| Amounts payable | 17/49 | €102,237 | €99,865 | -€2,371 | -2.3% |
| Amounts payable after more than one year | 17 | €36,429 | €27,712 | -€8,717 | -23.9% |
| Financial debts | 170/4 | €36,429 | €27,712 | -€8,717 | -23.9% |
| Amounts payable within one year | 42/48 | €65,108 | €68,903 | +€3,795 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €15,274 | €17,352 | +€2,078 | +13.6% |
| Financial debts | 43 | €16,000 | - | -€16,000 | |
| Credit institutions | 430/8 | €16,000 | - | -€16,000 | |
| Trade debts | 44 | €22,769 | €26,594 | +€3,825 | +16.8% |
| Suppliers | 440/4 | €22,769 | €26,594 | +€3,825 | +16.8% |
| Taxes, remuneration and social security | 45 | €11,065 | €24,957 | +€13,892 | +126% |
| Taxes | 450/3 | €11,065 | €24,957 | +€13,892 | +126% |
| Accrued charges and deferred income | 492/3 | €699 | €3,250 | +€2,551 | +365% |
| Non-recurring operating income | 76A | €1,080 | €619 | -€461 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,640 | €11,580 | +€5,941 | +105% |
| Other operating charges | 640/8 | €1,590 | €2,131 | +€542 | +34.1% |
| Non-recurring operating charges | 66A | €5,178 | - | -€5,178 | |
| Gross operating margin | 9900 | €86,943 | €63,618 | -€23,325 | -26.8% |
| Operating profit (loss) | 9901 | €74,536 | €49,907 | -€24,629 | -33.0% |
| Financial income | 75/76B | €946 | €2,881 | +€1,935 | +205% |
| Recurring financial income | 75 | €946 | €2,881 | +€1,935 | +205% |
| Financial charges | 65/66B | €3,045 | €5,287 | +€2,242 | +73.7% |
| Recurring financial charges | 65 | €3,045 | €5,287 | +€2,242 | +73.7% |
| Profit (loss) for the period before taxes | 9903 | €72,437 | €47,501 | -€24,936 | -34.4% |
| Income taxes | 67/77 | €26,552 | €11,952 | -€14,600 | -55.0% |
| Profit (loss) for the period | 9904 | €45,885 | €35,549 | -€10,336 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,885 | €35,549 | -€10,336 | -22.5% |
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 29 October 2026 via checked.be.