CRUCES: 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.
CRUCES
Largest movements
- Receivables within one year -€36,091
down €36,091 (-52.4%), from €68,883 to €32,792
of which Trade receivables: -€38,466
- Cash +€13,066
up €13,066 (+205.7%), from €6,352 to €19,418
mainly Receivables within one year (+€36,091) and Trade debts (+€7,068)
- Stocks and contracts +€11,875
up €11,875 (+84.0%), from €14,141 to €26,016
- Tangible fixed assets -€1,101
down €1,101 (-39.7%), from €2,773 to €1,672
of which Furniture and vehicles: -€2,114
- Current portion of long-term debt -€17,500
down €17,500 (-100.0%), from €17,500 to €0
- Trade debts +€7,068
up €7,068 (+188.9%), from €3,742 to €10,810
- Tax, wage and social debts -€5,847
down €5,847 (-78.3%), from €7,472 to €1,625
of which Taxes: -€5,371
- Accrued charges and deferred income +€2,865
new in 2025: €2,865
- Reserves +€2,412
up €2,412 (+6.1%), from €39,629 to €42,041
of which Distributable reserves: +€2,412
- Gross operating margin -€12,732
down €12,732 (-56.2%), from €22,644 to €9,912
- Staff costs -€5,023
down €5,023 (-60.7%), from €8,270 to €3,247
- Depreciation -€2,541
down €2,541 (-71.2%), from €3,570 to €1,029
- Taxes -€2,163
down €2,163 (-63.7%), from €3,398 to €1,235
- Other operating charges +€227
up €227 (+51.5%), from €441 to €668
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.
Cash bridge derived
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 | €94,149 | €81,682 | -€12,467 | -13.2% |
| Formation expenses | 20 | €1,015 | €771 | -€244 | -24.0% |
| Fixed assets | 21/28 | €2,773 | €1,672 | -€1,101 | -39.7% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €2,773 | €1,672 | -€1,101 | -39.7% |
| Plant, machinery and equipment | 23 | €659 | €1,672 | +€1,013 | +153.7% |
| Furniture and vehicles | 24 | €2,114 | €0 | -€2,114 | -100.0% |
| Current assets | 29/58 | €90,361 | €79,239 | -€11,122 | -12.3% |
| Stocks and contracts in progress | 3 | €14,141 | €26,016 | +€11,875 | +84.0% |
| Stocks | 30/36 | €14,141 | €26,016 | +€11,875 | +84.0% |
| Amounts receivable within one year | 40/41 | €68,883 | €32,792 | -€36,091 | -52.4% |
| Trade receivables | 40 | €68,883 | €30,417 | -€38,466 | -55.8% |
| Other amounts receivable | 41 | - | €2,375 | +€2,375 | |
| Cash at bank and in hand | 54/58 | €6,352 | €19,418 | +€13,066 | +205.7% |
| Deferred charges and accrued income | 490/1 | €985 | €1,013 | +€28 | +2.9% |
| Total equity and liabilities | 10/49 | €94,149 | €81,682 | -€12,467 | -13.2% |
| Equity | 10/15 | €59,629 | €62,041 | +€2,412 | +4.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €39,629 | €42,041 | +€2,412 | +6.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €37,629 | €40,041 | +€2,412 | +6.4% |
| Amounts payable | 17/49 | €34,520 | €19,641 | -€14,879 | -43.1% |
| Amounts payable within one year | 42/48 | €34,520 | €16,776 | -€17,744 | -51.4% |
| Current portion of amounts payable after more than one year | 42 | €17,500 | €0 | -€17,500 | -100.0% |
| Trade debts | 44 | €3,742 | €10,810 | +€7,068 | +188.9% |
| Suppliers | 440/4 | €3,742 | €10,810 | +€7,068 | +188.9% |
| Taxes, remuneration and social security | 45 | €7,472 | €1,625 | -€5,847 | -78.3% |
| Taxes | 450/3 | €6,996 | €1,625 | -€5,371 | -76.8% |
| Remuneration and social security | 454/9 | €476 | €0 | -€476 | -100.0% |
| Other amounts payable | 47/48 | €5,806 | €4,340 | -€1,466 | -25.2% |
| Accrued charges and deferred income | 492/3 | - | €2,865 | +€2,865 | |
| Remuneration, social security and pensions | 62 | €8,270 | €3,247 | -€5,023 | -60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,570 | €1,029 | -€2,541 | -71.2% |
| Other operating charges | 640/8 | €441 | €668 | +€227 | +51.5% |
| Non-recurring operating charges | 66A | - | €864 | +€864 | |
| Gross operating margin | 9900 | €22,644 | €9,912 | -€12,732 | -56.2% |
| Operating profit (loss) | 9901 | €10,363 | €4,104 | -€6,259 | -60.4% |
| Financial income | 75/76B | €12 | €175 | +€163 | +1358.1% |
| Recurring financial income | 75 | €12 | €175 | +€163 | +1358.1% |
| Financial charges | 65/66B | €681 | €632 | -€49 | -7.1% |
| Recurring financial charges | 65 | €681 | €632 | -€49 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €9,694 | €3,647 | -€6,047 | -62.4% |
| Income taxes | 67/77 | €3,398 | €1,235 | -€2,163 | -63.7% |
| Profit (loss) for the period | 9904 | €6,296 | €2,412 | -€3,884 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,296 | €2,412 | -€3,884 | -61.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.