CROW-N: 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.
CROW-N
Largest movements
- Cash -€59,342
down €59,342 (-91.4%), from €64,924 to €5,581
mainly Net result for the year (-€212,028) and Other debts (-€29,492)
- Receivables within one year -€52,392
down €52,392 (-85.6%), from €61,226 to €8,834
of which Trade receivables: -€44,765
- Tangible fixed assets -€42,720
down €42,720 (-26.5%), from €161,339 to €118,619
of which Furniture and vehicles: -€21,703
- Intangible fixed assets -€10,351
down €10,351 (-21.8%), from €47,405 to €37,054
- Profit (loss) carried forward -€212,028
down €212,028 (-103%), from -€205,067 to -€417,095
- Debts after one year +€75,827
up €75,827 (+21.4%), from €354,747 to €430,574
- Other debts -€29,492
down €29,492 (-26.4%), from €111,781 to €82,289
- Tax, wage and social debts +€8,042
up €8,042 (+20.2%), from €39,780 to €47,822
of which Remuneration and social security: +€7,970
- Trade debts -€6,376
down €6,376 (-10.3%), from €62,110 to €55,734
- Gross operating margin +€73,501
up €73,501 (+172%), from €42,758 to €116,259
- Staff costs +€67,899
up €67,899 (+34.9%), from €194,370 to €262,269
- Depreciation +€14,598
up €14,598 (+37.9%), from €38,473 to €53,071
- Financial charges +€3,790
up €3,790 (+43.8%), from €8,644 to €12,434
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 | €434,775 | €273,068 | -€161,707 | -37.2% |
| Fixed assets | 21/28 | €211,430 | €158,359 | -€53,071 | -25.1% |
| Intangible fixed assets | 21 | €47,405 | €37,054 | -€10,351 | -21.8% |
| Tangible fixed assets | 22/27 | €161,339 | €118,619 | -€42,720 | -26.5% |
| Plant, machinery and equipment | 23 | €106,804 | €85,788 | -€21,016 | -19.7% |
| Furniture and vehicles | 24 | €54,535 | €32,831 | -€21,703 | -39.8% |
| Financial fixed assets | 28 | €2,685 | €2,685 | = | 0.0% |
| Current assets | 29/58 | €223,346 | €114,710 | -€108,636 | -48.6% |
| Stocks and contracts in progress | 3 | €95,843 | €98,073 | +€2,230 | +2.3% |
| Stocks | 30/36 | €95,843 | €98,073 | +€2,230 | +2.3% |
| Amounts receivable within one year | 40/41 | €61,226 | €8,834 | -€52,392 | -85.6% |
| Trade receivables | 40 | €51,540 | €6,776 | -€44,765 | -86.9% |
| Other amounts receivable | 41 | €9,685 | €2,058 | -€7,627 | -78.7% |
| Cash at bank and in hand | 54/58 | €64,924 | €5,581 | -€59,342 | -91.4% |
| Deferred charges and accrued income | 490/1 | €1,354 | €2,221 | +€868 | +64.1% |
| Total equity and liabilities | 10/49 | €434,775 | €273,068 | -€161,707 | -37.2% |
| Equity | 10/15 | -€180,067 | -€392,095 | -€212,028 | -118% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€205,067 | -€417,095 | -€212,028 | -103% |
| Amounts payable | 17/49 | €614,842 | €665,163 | +€50,321 | +8.2% |
| Amounts payable after more than one year | 17 | €354,747 | €430,574 | +€75,827 | +21.4% |
| Financial debts | 170/4 | €354,747 | €430,574 | +€75,827 | +21.4% |
| Amounts payable within one year | 42/48 | €259,830 | €230,018 | -€29,812 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €46,159 | €44,173 | -€1,986 | -4.3% |
| Trade debts | 44 | €62,110 | €55,734 | -€6,376 | -10.3% |
| Suppliers | 440/4 | €62,110 | €55,734 | -€6,376 | -10.3% |
| Taxes, remuneration and social security | 45 | €39,780 | €47,822 | +€8,042 | +20.2% |
| Taxes | 450/3 | €3,394 | €3,466 | +€73 | +2.1% |
| Remuneration and social security | 454/9 | €36,387 | €44,356 | +€7,970 | +21.9% |
| Other amounts payable | 47/48 | €111,781 | €82,289 | -€29,492 | -26.4% |
| Accrued charges and deferred income | 492/3 | €265 | €4,571 | +€4,306 | +1,627% |
| Remuneration, social security and pensions | 62 | €194,370 | €262,269 | +€67,899 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,473 | €53,071 | +€14,598 | +37.9% |
| Other operating charges | 640/8 | €182 | €393 | +€211 | +116% |
| Gross operating margin | 9900 | €42,758 | €116,259 | +€73,501 | +172% |
| Operating profit (loss) | 9901 | -€190,267 | -€199,474 | -€9,207 | -4.8% |
| Financial income | 75/76B | - | €80 | +€80 | |
| Recurring financial income | 75 | - | €80 | +€80 | |
| Financial charges | 65/66B | €8,644 | €12,434 | +€3,790 | +43.8% |
| Recurring financial charges | 65 | €8,644 | €12,434 | +€3,790 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | -€198,911 | -€211,827 | -€12,916 | -6.5% |
| Income taxes | 67/77 | €202 | €201 | -€1 | -0.4% |
| Profit (loss) for the period | 9904 | -€199,113 | -€212,028 | -€12,916 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€199,113 | -€212,028 | -€12,916 | -6.5% |
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 14 October 2026 via checked.be.