CRUTSERVELD: 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.
CRUTSERVELD
Largest movements
- Receivables within one year -€318,586
down €318,586 (-26.9%), from €1.2m to €865,944
of which Other amounts receivable: -€318,586
- Tangible fixed assets -€32,789
down €32,789 (-3.8%), from €863,722 to €830,933
- Other debts -€184,753
down €184,753 (-20.5%), from €900,000 to €715,247
- Profit (loss) carried forward -€102,348
down €102,348 (-93.4%), from -€109,548 to -€211,896
- Debts after one year -€55,736
down €55,736 (-15.0%), from €371,575 to €315,839
- Gross operating margin -€56,112
down €56,112, from €5,683 to -€50,429
- Financial charges -€5,634
down €5,634 (-23.2%), from €24,256 to €18,622
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 | €2,069,846 | €1,708,305 | -€361,541 | -17.5% |
| Fixed assets | 21/28 | €874,022 | €841,233 | -€32,789 | -3.8% |
| Tangible fixed assets | 22/27 | €863,722 | €830,933 | -€32,789 | -3.8% |
| Land and buildings | 22 | €863,722 | €830,933 | -€32,789 | -3.8% |
| Financial fixed assets | 28 | €10,300 | €10,300 | = | 0.0% |
| Current assets | 29/58 | €1,195,823 | €867,072 | -€328,752 | -27.5% |
| Amounts receivable after more than one year | 29 | €7,959 | - | -€7,959 | |
| Trade receivables | 290 | €7,959 | - | -€7,959 | |
| Amounts receivable within one year | 40/41 | €1,184,530 | €865,944 | -€318,586 | -26.9% |
| Trade receivables | 40 | €10,270 | €10,270 | = | 0.0% |
| Other amounts receivable | 41 | €1,174,260 | €855,674 | -€318,586 | -27.1% |
| Cash at bank and in hand | 54/58 | €3,334 | €1,127 | -€2,207 | -66.2% |
| Total equity and liabilities | 10/49 | €2,069,846 | €1,708,305 | -€361,541 | -17.5% |
| Equity | 10/15 | €549,134 | €431,194 | -€117,940 | -21.5% |
| 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 | €597,182 | €581,590 | -€15,592 | -2.6% |
| Non-distributable reserves | 130/1 | €17,533 | €17,533 | = | 0.0% |
| Legal reserve | 130 | €17,533 | €17,533 | = | 0.0% |
| Tax-exempt reserves | 132 | €579,649 | €564,056 | -€15,592 | -2.7% |
| Profit (loss) carried forward | 14 | -€109,548 | -€211,896 | -€102,348 | -93.4% |
| Provisions and deferred taxes | 16 | €194,646 | €188,277 | -€6,369 | -3.3% |
| Deferred taxes | 168 | €194,646 | €188,277 | -€6,369 | -3.3% |
| Amounts payable | 17/49 | €1,326,066 | €1,088,834 | -€237,232 | -17.9% |
| Amounts payable after more than one year | 17 | €371,575 | €315,839 | -€55,736 | -15.0% |
| Financial debts | 170/4 | €371,575 | €315,839 | -€55,736 | -15.0% |
| Amounts payable within one year | 42/48 | €954,491 | €772,995 | -€181,496 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €54,491 | €54,491 | -€0 | 0.0% |
| Trade debts | 44 | - | €3,257 | +€3,257 | |
| Suppliers | 440/4 | - | €3,257 | +€3,257 | |
| Other amounts payable | 47/48 | €900,000 | €715,247 | -€184,753 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,789 | €32,789 | = | 0.0% |
| Other operating charges | 640/8 | €22,012 | €22,469 | +€457 | +2.1% |
| Gross operating margin | 9900 | €5,683 | -€50,429 | -€56,112 | |
| Operating profit (loss) | 9901 | -€49,118 | -€105,687 | -€56,569 | -115% |
| Financial income | 75/76B | €478 | - | -€478 | |
| Recurring financial income | 75 | €478 | - | -€478 | |
| Financial charges | 65/66B | €24,256 | €18,622 | -€5,634 | -23.2% |
| Recurring financial charges | 65 | €24,256 | €18,622 | -€5,634 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | -€72,895 | -€124,309 | -€51,413 | -70.5% |
| Transfer from deferred taxes | 780 | €6,369 | €6,369 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€66,526 | -€117,940 | -€51,413 | -77.3% |
| Transfer from tax-exempt reserves | 789 | €15,592 | €15,592 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,934 | -€102,348 | -€51,413 | -101% |
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 26 October 2026 via checked.be.