Crusta Capital: 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.
Crusta Capital
Largest movements
- Financial fixed assets +€141,000
up €141,000 (+15.0%), from €937,681 to €1.1m
- Cash -€57,642
down €57,642 (-90.0%), from €64,071 to €6,429
mainly Investment in fixed assets (net) (-€141,000) and Debts after one year (-€113,846)
- Other debts +€160,000
new in 2025: €160,000
- Debts after one year -€113,846
down €113,846 (-30.2%), from €376,801 to €262,955
- Reserves +€47,000
up €47,000 (+9.4%), from €499,000 to €546,000
of which Distributable reserves: +€47,000
- Trade debts +€24,914
up €24,914 (+167%), from €14,905 to €39,819
- Accrued charges and deferred income -€21,520
down €21,520 (-76.2%), from €28,244 to €6,724
- Turnover +€259,035
new in 2025: €259,035
- Services and other goods +€165,270
new in 2025: €165,270
- Financial income -€106,415
down €106,415 (-97.8%), from €108,816 to €2,401
- Gross operating margin -€102,189
no longer reported in 2025 (was €102,189)
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 | €1,087,637 | €1,179,478 | +€91,840 | +8.4% |
| Fixed assets | 21/28 | €937,681 | €1,078,681 | +€141,000 | +15.0% |
| Financial fixed assets | 28 | €937,681 | €1,078,681 | +€141,000 | +15.0% |
| Affiliated companies | 280/1 | - | €1,078,681 | +€1.1m | |
| Participating interests | 280 | - | €1,078,681 | +€1.1m | |
| Current assets | 29/58 | €149,957 | €100,797 | -€49,160 | -32.8% |
| Amounts receivable within one year | 40/41 | €85,309 | €90,756 | +€5,447 | +6.4% |
| Trade receivables | 40 | €229 | - | -€229 | |
| Other amounts receivable | 41 | €85,080 | €90,756 | +€5,677 | +6.7% |
| Cash at bank and in hand | 54/58 | €64,071 | €6,429 | -€57,642 | -90.0% |
| Deferred charges and accrued income | 490/1 | €576 | €3,612 | +€3,036 | +527% |
| Total equity and liabilities | 10/49 | €1,087,637 | €1,179,478 | +€91,840 | +8.4% |
| Equity | 10/15 | €599,953 | €646,134 | +€46,181 | +7.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €499,000 | €546,000 | +€47,000 | +9.4% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €489,000 | €536,000 | +€47,000 | +9.6% |
| Profit (loss) carried forward | 14 | €953 | €134 | -€819 | -85.9% |
| Amounts payable | 17/49 | €487,684 | €533,344 | +€45,659 | +9.4% |
| Amounts payable after more than one year | 17 | €376,801 | €262,955 | -€113,846 | -30.2% |
| Financial debts | 170/4 | €376,801 | €262,955 | -€113,846 | -30.2% |
| Subordinated loans | 170 | - | €50,000 | +€50,000 | |
| Credit institutions | 173 | - | €162,955 | +€162,955 | |
| Other loans | 174 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €82,639 | €263,665 | +€181,026 | +219% |
| Current portion of amounts payable after more than one year | 42 | €59,117 | €63,846 | +€4,729 | +8.0% |
| Trade debts | 44 | €14,905 | €39,819 | +€24,914 | +167% |
| Suppliers | 440/4 | €14,905 | €39,819 | +€24,914 | +167% |
| Taxes, remuneration and social security | 45 | €8,617 | - | -€8,617 | |
| Taxes | 450/3 | €8,617 | - | -€8,617 | |
| Other amounts payable | 47/48 | - | €160,000 | +€160,000 | |
| Accrued charges and deferred income | 492/3 | €28,244 | €6,724 | -€21,520 | -76.2% |
| Operating income | 70/76A | - | €259,035 | +€259,035 | |
| Turnover | 70 | - | €259,035 | +€259,035 | |
| Operating charges | 60/66A | - | €167,501 | +€167,501 | |
| Services and other goods | 61 | - | €165,270 | +€165,270 | |
| Other operating charges | 640/8 | €3,976 | €2,230 | -€1,746 | -43.9% |
| Gross operating margin | 9900 | €102,189 | - | -€102,189 | |
| Operating profit (loss) | 9901 | €98,213 | €91,534 | -€6,678 | -6.8% |
| Financial income | 75/76B | €108,816 | €2,401 | -€106,415 | -97.8% |
| Recurring financial income | 75 | €108,816 | €2,401 | -€106,415 | -97.8% |
| Income from current assets | 751 | - | €2,401 | +€2,401 | |
| Financial charges | 65/66B | €31,614 | €30,368 | -€1,246 | -3.9% |
| Recurring financial charges | 65 | €31,614 | €30,368 | -€1,246 | -3.9% |
| Debt charges | 650 | - | €30,134 | +€30,134 | |
| Other financial charges | 652/9 | - | €234 | +€234 | |
| Profit (loss) for the period before taxes | 9903 | €175,415 | €63,568 | -€111,847 | -63.8% |
| Income taxes | 67/77 | €18,120 | €17,387 | -€732 | -4.0% |
| Taxes | 670/3 | - | €17,387 | +€17,387 | |
| Profit (loss) for the period | 9904 | €157,296 | €46,181 | -€111,115 | -70.6% |
| Profit (loss) for the period to be appropriated | 9905 | €157,296 | €46,181 | -€111,115 | -70.6% |
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 19 October 2026 via checked.be.