De Kraag: 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.
De Kraag
Largest movements
- Tangible fixed assets +€180,764
up €180,764 (+77.4%), from €233,402 to €414,166
of which Other tangible fixed assets: +€186,870
- Cash +€17,892
up €17,892 (+851%), from €2,102 to €19,994
mainly Debts after one year (+€134,801) and Net result for the year (+€33,456)
- Receivables within one year +€7,210
up €7,210 (+46.5%), from €15,499 to €22,708
of which Trade receivables: +€7,211
- Debts after one year +€134,801
up €134,801 (+731%), from €18,447 to €153,248
- Profit (loss) carried forward +€21,751
no longer reported in 2025 (was -€21,751)
- Trade debts +€19,295
up €19,295 (+1,097%), from €1,759 to €21,054
- Current portion of long-term debt +€11,928
up €11,928 (+107%), from €11,153 to €23,081
- Reserves +€11,705
up €11,705 (+32.4%), from €36,165 to €47,870
of which Distributable reserves: +€11,705
- Gross operating margin +€54,487
up €54,487 (+596%), from €9,147 to €63,635
- Taxes +€5,380
up €5,380 (+3,021%), from €178 to €5,558
- Financial charges +€3,003
up €3,003 (+196%), from €1,535 to €4,538
- Depreciation +€1,235
up €1,235 (+7.2%), from €17,115 to €18,350
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 | €251,003 | €456,869 | +€205,866 | +82.0% |
| Fixed assets | 21/28 | €233,402 | €414,166 | +€180,764 | +77.4% |
| Tangible fixed assets | 22/27 | €233,402 | €414,166 | +€180,764 | +77.4% |
| Land and buildings | 22 | €226,864 | €223,655 | -€3,209 | -1.4% |
| Plant, machinery and equipment | 23 | €868 | - | -€868 | |
| Furniture and vehicles | 24 | €5,670 | €3,641 | -€2,028 | -35.8% |
| Other tangible fixed assets | 26 | - | €186,870 | +€186,870 | |
| Current assets | 29/58 | €17,601 | €42,703 | +€25,102 | +143% |
| Amounts receivable within one year | 40/41 | €15,499 | €22,708 | +€7,210 | +46.5% |
| Trade receivables | 40 | €5,037 | €12,247 | +€7,211 | +143% |
| Other amounts receivable | 41 | €10,462 | €10,461 | -€1 | 0.0% |
| Cash at bank and in hand | 54/58 | €2,102 | €19,994 | +€17,892 | +851% |
| Total equity and liabilities | 10/49 | €251,003 | €456,869 | +€205,866 | +82.0% |
| Equity | 10/15 | €120,614 | €154,070 | +€33,456 | +27.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €36,165 | €47,870 | +€11,705 | +32.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €34,305 | €46,010 | +€11,705 | +34.1% |
| Profit (loss) carried forward | 14 | -€21,751 | - | +€21,751 | |
| Amounts payable | 17/49 | €130,389 | €302,799 | +€172,410 | +132% |
| Amounts payable after more than one year | 17 | €18,447 | €153,248 | +€134,801 | +731% |
| Financial debts | 170/4 | €18,447 | €153,248 | +€134,801 | +731% |
| Amounts payable within one year | 42/48 | €110,862 | €149,551 | +€38,690 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €11,153 | €23,081 | +€11,928 | +107% |
| Trade debts | 44 | €1,759 | €21,054 | +€19,295 | +1,097% |
| Suppliers | 440/4 | €1,759 | €21,054 | +€19,295 | +1,097% |
| Taxes, remuneration and social security | 45 | €2,108 | €12,949 | +€10,841 | +514% |
| Taxes | 450/3 | €2,108 | €12,949 | +€10,841 | +514% |
| Other amounts payable | 47/48 | €95,841 | €92,467 | -€3,374 | -3.5% |
| Accrued charges and deferred income | 492/3 | €1,080 | - | -€1,080 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,115 | €18,350 | +€1,235 | +7.2% |
| Other operating charges | 640/8 | €1,691 | €1,740 | +€49 | +2.9% |
| Gross operating margin | 9900 | €9,147 | €63,635 | +€54,487 | +596% |
| Operating profit (loss) | 9901 | -€9,659 | €43,545 | +€53,203 | |
| Financial income | 75/76B | €6 | €7 | +€1 | +19.4% |
| Recurring financial income | 75 | €6 | €7 | +€1 | +19.4% |
| Financial charges | 65/66B | €1,535 | €4,538 | +€3,003 | +196% |
| Recurring financial charges | 65 | €1,535 | €4,538 | +€3,003 | +196% |
| Profit (loss) for the period before taxes | 9903 | -€11,187 | €39,014 | +€50,202 | |
| Income taxes | 67/77 | €178 | €5,558 | +€5,380 | +3,021% |
| Profit (loss) for the period | 9904 | -€11,365 | €33,456 | +€44,821 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,365 | €33,456 | +€44,821 |
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.