CRUSH: 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.
CRUSH
Largest movements
- Receivables within one year -€242,545
down €242,545 (-61.0%), from €397,333 to €154,788
of which Trade receivables: -€249,322
- Cash -€14,202
down €14,202 (-16.0%), from €88,528 to €74,326
mainly Net result for the year (-€268,036) and Trade debts (-€175,144)
- Deferred charges and accrued income -€6,399
down €6,399 (-47.5%), from €13,477 to €7,079
- Other debts +€268,594
up €268,594 (+523.8%), from €51,278 to €319,872
- Profit (loss) carried forward -€268,036
down €268,036 (-81.4%), from -€329,170 to -€597,206
- Trade debts -€175,144
down €175,144 (-40.5%), from €432,027 to €256,882
- Debts after one year -€44,883
down €44,883 (-59.9%), from €74,883 to €30,000
- Tax, wage and social debts -€34,972
down €34,972 (-67.1%), from €52,151 to €17,180
of which Remuneration and social security: -€24,299
- Gross operating margin -€211,546
down €211,546 (-59.4%), from €355,998 to €144,452
- Staff costs -€105,824
down €105,824 (-23.0%), from €460,895 to €355,071
- Other operating charges +€14,479
up €14,479 (+87.9%), from €16,469 to €30,948
- Taxes +€5,424
up €5,424 (+2156.4%), from €252 to €5,676
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 | €521,582 | €256,809 | -€264,773 | -50.8% |
| Fixed assets | 21/28 | €22,244 | €20,617 | -€1,627 | -7.3% |
| Tangible fixed assets | 22/27 | €21,684 | €20,057 | -€1,627 | -7.5% |
| Plant, machinery and equipment | 23 | €5,085 | €428 | -€4,657 | -91.6% |
| Furniture and vehicles | 24 | €16,599 | €19,629 | +€3,030 | +18.3% |
| Financial fixed assets | 28 | €560 | €560 | = | 0.0% |
| Current assets | 29/58 | €499,338 | €236,192 | -€263,146 | -52.7% |
| Amounts receivable within one year | 40/41 | €397,333 | €154,788 | -€242,545 | -61.0% |
| Trade receivables | 40 | €397,333 | €148,012 | -€249,322 | -62.7% |
| Other amounts receivable | 41 | €0 | €6,776 | +€6,776 | |
| Cash at bank and in hand | 54/58 | €88,528 | €74,326 | -€14,202 | -16.0% |
| Deferred charges and accrued income | 490/1 | €13,477 | €7,079 | -€6,399 | -47.5% |
| Total equity and liabilities | 10/49 | €521,582 | €256,809 | -€264,773 | -50.8% |
| Equity | 10/15 | -€261,520 | -€529,556 | -€268,036 | -102.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€329,170 | -€597,206 | -€268,036 | -81.4% |
| Amounts payable | 17/49 | €783,102 | €786,365 | +€3,263 | +0.4% |
| Amounts payable after more than one year | 17 | €74,883 | €30,000 | -€44,883 | -59.9% |
| Financial debts | 170/4 | €74,883 | €30,000 | -€44,883 | -59.9% |
| Amounts payable within one year | 42/48 | €607,975 | €658,817 | +€50,842 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €63,310 | €64,883 | +€1,573 | +2.5% |
| Financial debts | 43 | €9,209 | €0 | -€9,209 | -100.0% |
| Credit institutions | 430/8 | €9,209 | €0 | -€9,209 | -100.0% |
| Trade debts | 44 | €432,027 | €256,882 | -€175,144 | -40.5% |
| Suppliers | 440/4 | €432,027 | €256,882 | -€175,144 | -40.5% |
| Taxes, remuneration and social security | 45 | €52,151 | €17,180 | -€34,972 | -67.1% |
| Taxes | 450/3 | €16,457 | €5,785 | -€10,673 | -64.9% |
| Remuneration and social security | 454/9 | €35,694 | €11,395 | -€24,299 | -68.1% |
| Other amounts payable | 47/48 | €51,278 | €319,872 | +€268,594 | +523.8% |
| Accrued charges and deferred income | 492/3 | €100,245 | €97,548 | -€2,696 | -2.7% |
| Non-recurring operating income | 76A | €1,250 | €0 | -€1,250 | -100.0% |
| Remuneration, social security and pensions | 62 | €460,895 | €355,071 | -€105,824 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,654 | €14,072 | +€417 | +3.1% |
| Other operating charges | 640/8 | €16,469 | €30,948 | +€14,479 | +87.9% |
| Non-recurring operating charges | 66A | - | €25 | +€25 | |
| Gross operating margin | 9900 | €355,998 | €144,452 | -€211,546 | -59.4% |
| Operating profit (loss) | 9901 | -€135,021 | -€255,663 | -€120,642 | -89.4% |
| Financial income | 75/76B | €5 | €19 | +€15 | +317.4% |
| Recurring financial income | 75 | €5 | €19 | +€15 | +317.4% |
| Financial charges | 65/66B | €6,770 | €6,717 | -€53 | -0.8% |
| Recurring financial charges | 65 | €6,770 | €6,717 | -€53 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€141,786 | -€262,361 | -€120,575 | -85.0% |
| Income taxes | 67/77 | €252 | €5,676 | +€5,424 | +2156.4% |
| Profit (loss) for the period | 9904 | -€142,038 | -€268,036 | -€125,999 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€142,038 | -€268,036 | -€125,999 | -88.7% |
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 10 October 2026 via checked.be.