CROWN ENTERPRISES: 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.
What changed
CROWN ENTERPRISES
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€501,112
2024 · €111,493+€389,619
Equity
€8.7m
2024 · €8.2m+€501,112
Cash
€126,405
2024 · €28,725+€97,680
Balance sheet total
€36.0m
2024 · €32.4m+€3.6m
Largest movements
Assets
- Tangible fixed assets +€3.7m
up €3.7m (+20.9%), from €17.8m to €21.6m
of which Assets under construction and advance payments: +€2.1m
- Financial fixed assets -€998,000
down €998,000 (-12.5%), from €8.0m to €7.0m
of which Affiliated companies: -€1,000,000
- Receivables within one year +€788,386
up €788,386 (+12.6%), from €6.2m to €7.0m
of which Trade receivables: +€414,282
Equity and liabilities
- Trade debts +€1.5m
up €1.5m (+308%), from €494,754 to €2.0m
- Other debts +€1.1m
up €1.1m (+6.8%), from €15.7m to €16.7m
- Debts after one year +€888,556
up €888,556 (+20.0%), from €4.4m to €5.3m
of which Financial debts: +€888,556
- Profit (loss) carried forward +€593,871
up €593,871 (+89.8%), from -€661,076 to -€67,205
Income statement
- Goods and materials -€1.1m
down €1.1m (-91.5%), from €1.2m to €103,628
of which Purchases: -€997,725
- Financial income +€920,739
up €920,739 (+225%), from €409,617 to €1.3m
of which Financial income: +€553,108
- Turnover -€737,207
down €737,207 (-28.5%), from €2.6m to €1.8m
- Financial charges +€540,629
up €540,629 (+81.0%), from €667,192 to €1.2m
- Other operating income -€241,896
down €241,896 (-81.6%), from €296,396 to €54,500
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.
Result 2024
€111,493
Turnover
-€737,207
Other operating income
-€241,896
Goods and materials
+€1.1m
Services and other goods
-€193,636
Depreciation
+€32,874
Write-downs
+€3,580
Other operating charges
+€42,157
Financial income
+€920,739
Financial charges
-€540,629
Taxes
-€17,451
Result 2025
€501,112
raises the resultlowers the result
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.
From operations
+€2.9m
Investment
-€3.3m
Financing
+€555,158
Cash 2024
€28,725
From operations (derived)
+€2.9m
Net result for the year
+€501,112
Depreciation
+€618,849
Stocks and contracts
+€2,158
Receivables within one year
-€788,386
Provisions
-€30,920
Trade debts
+€1.5m
Other debts
+€1.1m
Accrued charges and deferred income
-€9,322
Investment (derived)
-€3.3m
Investment in fixed assets (net)
-€3.3m
Financing
+€555,158
Debts after one year
+€888,556
Current portion of long-term debt
-€27,226
Short-term financial debts
-€306,171
Cash 2025
€126,405
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,428,572 | €36,038,560 | +€3.6m | +11.1% |
| Fixed assets | 21/28 | €25,803,122 | €28,529,201 | +€2.7m | +10.6% |
| Tangible fixed assets | 22/27 | €17,836,573 | €21,560,652 | +€3.7m | +20.9% |
| Land and buildings | 22 | €12,848,221 | €13,604,751 | +€756,530 | +5.9% |
| Plant, machinery and equipment | 23 | €70,047 | €105,683 | +€35,636 | +50.9% |
| Furniture and vehicles | 24 | €1,219 | €12,244 | +€11,025 | +904% |
| Leasing and similar rights | 25 | €62,200 | - | -€62,200 | |
| Other tangible fixed assets | 26 | €1,051,826 | €1,888,843 | +€837,017 | +79.6% |
| Assets under construction and advance payments | 27 | €3,803,061 | €5,949,131 | +€2.1m | +56.4% |
| Financial fixed assets | 28 | €7,966,549 | €6,968,549 | -€998,000 | -12.5% |
| Affiliated companies | 280/1 | €7,961,504 | €6,961,504 | -€1,000,000 | -12.6% |
| Participating interests | 280 | €7,961,504 | €6,961,504 | -€1,000,000 | -12.6% |
| Other financial fixed assets | 284/8 | €5,045 | €7,045 | +€2,000 | +39.6% |
| Amounts receivable and cash guarantees | 285/8 | €5,045 | €7,045 | +€2,000 | +39.6% |
| Current assets | 29/58 | €6,625,450 | €7,509,359 | +€883,909 | +13.3% |
| Stocks and contracts in progress | 3 | €338,468 | €336,310 | -€2,158 | -0.6% |
| Stocks | 30/36 | €338,468 | €336,310 | -€2,158 | -0.6% |
| Raw materials and consumables | 30/31 | €289,653 | €287,495 | -€2,158 | -0.7% |
| Property held for sale | 35 | €48,815 | €48,815 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,248,916 | €7,037,302 | +€788,386 | +12.6% |
| Trade receivables | 40 | €348,536 | €762,817 | +€414,282 | +119% |
| Other amounts receivable | 41 | €5,900,380 | €6,274,485 | +€374,105 | +6.3% |
| Cash at bank and in hand | 54/58 | €28,725 | €126,405 | +€97,680 | +340% |
| Deferred charges and accrued income | 490/1 | €9,342 | €9,342 | = | 0.0% |
| Total equity and liabilities | 10/49 | €32,428,572 | €36,038,560 | +€3.6m | +11.1% |
| Equity | 10/15 | €8,248,594 | €8,749,706 | +€501,112 | +6.1% |
| Contributions | 10/11 | €1,941,830 | €1,941,830 | = | 0.0% |
| Capital | 10 | €1,941,830 | €1,941,830 | = | 0.0% |
| Issued capital | 100 | €1,941,830 | €1,941,830 | = | 0.0% |
| Revaluation surpluses | 12 | €2,982,034 | €2,982,034 | = | 0.0% |
| Reserves | 13 | €3,985,806 | €3,893,046 | -€92,759 | -2.3% |
| Non-distributable reserves | 130/1 | €102,896 | €102,896 | = | 0.0% |
| Legal reserve | 130 | €102,896 | €102,896 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,401,078 | €2,308,318 | -€92,759 | -3.9% |
| Distributable reserves | 133 | €1,481,832 | €1,481,832 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€661,076 | -€67,205 | +€593,871 | +89.8% |
| Provisions and deferred taxes | 16 | €1,322,461 | €1,291,541 | -€30,920 | -2.3% |
| Deferred taxes | 168 | €1,322,461 | €1,291,541 | -€30,920 | -2.3% |
| Amounts payable | 17/49 | €22,857,518 | €25,997,313 | +€3.1m | +13.7% |
| Amounts payable after more than one year | 17 | €4,434,851 | €5,323,407 | +€888,556 | +20.0% |
| Financial debts | 170/4 | €4,303,315 | €5,191,871 | +€888,556 | +20.6% |
| Leasing and similar obligations | 172 | €6,220 | - | -€6,220 | |
| Credit institutions | 173 | €4,297,095 | €5,191,871 | +€894,776 | +20.8% |
| Other amounts payable | 178/9 | €131,536 | €131,536 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,413,345 | €20,673,906 | +€2.3m | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €956,455 | €929,229 | -€27,226 | -2.8% |
| Financial debts | 43 | €1,286,650 | €980,479 | -€306,171 | -23.8% |
| Credit institutions | 430/8 | €1,286,650 | €980,479 | -€306,171 | -23.8% |
| Trade debts | 44 | €494,754 | €2,020,364 | +€1.5m | +308% |
| Suppliers | 440/4 | €494,754 | €2,020,364 | +€1.5m | +308% |
| Other amounts payable | 47/48 | €15,675,485 | €16,743,833 | +€1.1m | +6.8% |
| Accrued charges and deferred income | 492/3 | €9,322 | - | -€9,322 | |
| Operating income | 70/76A | €2,879,726 | €1,900,623 | -€979,103 | -34.0% |
| Turnover | 70 | €2,583,330 | €1,846,122 | -€737,207 | -28.5% |
| Other operating income | 74 | €296,396 | €54,500 | -€241,896 | -81.6% |
| Operating charges | 60/66A | €2,541,578 | €1,535,515 | -€1.0m | -39.6% |
| Goods for resale, raw materials and consumables | 60 | €1,224,716 | €103,628 | -€1.1m | -91.5% |
| Purchases | 600/8 | €1,099,195 | €101,470 | -€997,725 | -90.8% |
| Change in stocks: decrease (increase) | 609 | €125,521 | €2,158 | -€123,364 | -98.3% |
| Services and other goods | 61 | €440,018 | €633,654 | +€193,636 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €651,723 | €618,849 | -€32,874 | -5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,745 | €165 | -€3,580 | -95.6% |
| Other operating charges | 640/8 | €221,377 | €179,219 | -€42,157 | -19.0% |
| Operating profit (loss) | 9901 | €338,148 | €365,108 | +€26,960 | +8.0% |
| Financial income | 75/76B | €409,617 | €1,330,356 | +€920,739 | +225% |
| Recurring financial income | 75 | €409,617 | €962,725 | +€553,108 | +135% |
| Income from current assets | 751 | €376,111 | €962,057 | +€585,946 | +156% |
| Other financial income | 752/9 | €33,506 | €668 | -€32,838 | -98.0% |
| Non-recurring financial income | 76B | - | €367,631 | +€367,631 | |
| Financial charges | 65/66B | €667,192 | €1,207,821 | +€540,629 | +81.0% |
| Recurring financial charges | 65 | €667,192 | €1,207,821 | +€540,629 | +81.0% |
| Debt charges | 650 | €641,897 | €1,171,280 | +€529,383 | +82.5% |
| Other financial charges | 652/9 | €25,295 | €36,541 | +€11,246 | +44.5% |
| Profit (loss) for the period before taxes | 9903 | €80,573 | €487,643 | +€407,070 | +505% |
| Transfer from deferred taxes | 780 | €30,920 | €30,920 | = | 0.0% |
| Income taxes | 67/77 | - | €17,451 | +€17,451 | |
| Taxes | 670/3 | - | €17,451 | +€17,451 | |
| Profit (loss) for the period | 9904 | €111,493 | €501,112 | +€389,619 | +349% |
| Transfer from tax-exempt reserves | 789 | €92,759 | €92,759 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €204,252 | €593,871 | +€389,619 | +191% |
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 15 October 2026 via checked.be.