DE KRUISBERG: 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 KRUISBERG
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+26.0%), from €4.7m to €5.9m
of which Land and buildings: +€783,455
- Receivables within one year +€527,170
up €527,170 (+44.5%), from €1.2m to €1.7m
of which Trade receivables: +€574,896
- Cash -€280,770
down €280,770 (-35.5%), from €790,544 to €509,774
mainly Investment in fixed assets (net) (-€1.7m) and Receivables within one year (-€527,170)
- Debts after one year +€1.2m
up €1.2m (+113%), from €1.1m to €2.3m
- Other debts -€419,916
down €419,916 (-18.0%), from €2.3m to €1.9m
- Trade debts +€349,074
up €349,074 (+40.2%), from €869,201 to €1.2m
- Reserves +€189,072
up €189,072 (+23.3%), from €811,081 to €1.0m
of which Distributable reserves: +€189,072
- Tax, wage and social debts +€107,035
up €107,035 (+83.7%), from €127,896 to €234,931
of which Taxes: +€107,989
- Other operating charges +€78,485
up €78,485 (+94.0%), from €83,501 to €161,987
- Gross operating margin +€50,163
up €50,163 (+4.2%), from €1.2m to €1.2m
- Staff costs +€36,112
up €36,112 (+16.9%), from €214,155 to €250,267
- Taxes -€34,543
down €34,543 (-39.5%), from €87,352 to €52,809
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 | €6,831,653 | €8,281,930 | +€1.5m | +21.2% |
| Fixed assets | 21/28 | €4,691,949 | €5,906,046 | +€1.2m | +25.9% |
| Tangible fixed assets | 22/27 | €4,664,960 | €5,879,057 | +€1.2m | +26.0% |
| Land and buildings | 22 | €3,711,423 | €4,494,878 | +€783,455 | +21.1% |
| Plant, machinery and equipment | 23 | €631,006 | €999,465 | +€368,459 | +58.4% |
| Furniture and vehicles | 24 | €84,475 | €59,069 | -€25,406 | -30.1% |
| Leasing and similar rights | 25 | €238,056 | €325,644 | +€87,588 | +36.8% |
| Financial fixed assets | 28 | €26,989 | €26,989 | = | 0.0% |
| Current assets | 29/58 | €2,139,704 | €2,375,884 | +€236,180 | +11.0% |
| Stocks and contracts in progress | 3 | €164,500 | €121,501 | -€42,999 | -26.1% |
| Stocks | 30/36 | €164,500 | €121,501 | -€42,999 | -26.1% |
| Amounts receivable within one year | 40/41 | €1,183,724 | €1,710,894 | +€527,170 | +44.5% |
| Trade receivables | 40 | €1,135,912 | €1,710,808 | +€574,896 | +50.6% |
| Other amounts receivable | 41 | €47,812 | €86 | -€47,726 | -99.8% |
| Cash at bank and in hand | 54/58 | €790,544 | €509,774 | -€280,770 | -35.5% |
| Deferred charges and accrued income | 490/1 | €936 | €33,716 | +€32,779 | +3,501% |
| Total equity and liabilities | 10/49 | €6,831,653 | €8,281,930 | +€1.5m | +21.2% |
| Equity | 10/15 | €1,967,081 | €2,156,153 | +€189,072 | +9.6% |
| Contributions | 10/11 | €1,156,000 | €1,156,000 | = | 0.0% |
| Capital | 10 | €1,156,000 | €1,156,000 | = | 0.0% |
| Issued capital | 100 | €1,156,000 | €1,156,000 | = | 0.0% |
| Reserves | 13 | €811,081 | €1,000,153 | +€189,072 | +23.3% |
| Non-distributable reserves | 130/1 | €115,600 | €115,600 | = | 0.0% |
| Legal reserve | 130 | €115,600 | €115,600 | = | 0.0% |
| Distributable reserves | 133 | €695,481 | €884,553 | +€189,072 | +27.2% |
| Amounts payable | 17/49 | €4,864,572 | €6,125,777 | +€1.3m | +25.9% |
| Amounts payable after more than one year | 17 | €1,103,994 | €2,348,111 | +€1.2m | +113% |
| Financial debts | 170/4 | €1,103,994 | €2,348,111 | +€1.2m | +113% |
| Amounts payable within one year | 42/48 | €3,760,578 | €3,777,666 | +€17,088 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €433,721 | €414,616 | -€19,105 | -4.4% |
| Trade debts | 44 | €869,201 | €1,218,275 | +€349,074 | +40.2% |
| Suppliers | 440/4 | €869,201 | €1,218,275 | +€349,074 | +40.2% |
| Taxes, remuneration and social security | 45 | €127,896 | €234,931 | +€107,035 | +83.7% |
| Taxes | 450/3 | €90,693 | €198,683 | +€107,989 | +119% |
| Remuneration and social security | 454/9 | €37,203 | €36,249 | -€955 | -2.6% |
| Other amounts payable | 47/48 | €2,329,759 | €1,909,843 | -€419,916 | -18.0% |
| Non-recurring operating income | 76A | €0 | €333,509 | +€333,509 | |
| Remuneration, social security and pensions | 62 | €214,155 | €250,267 | +€36,112 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €518,713 | €522,137 | +€3,425 | +0.7% |
| Other operating charges | 640/8 | €83,501 | €161,987 | +€78,485 | +94.0% |
| Non-recurring operating charges | 66A | - | €75 | +€75 | |
| Gross operating margin | 9900 | €1,185,685 | €1,235,848 | +€50,163 | +4.2% |
| Operating profit (loss) | 9901 | €369,316 | €301,382 | -€67,934 | -18.4% |
| Financial income | 75/76B | €608 | €90 | -€518 | -85.1% |
| Recurring financial income | 75 | €608 | €90 | -€518 | -85.1% |
| Financial charges | 65/66B | €57,109 | €59,592 | +€2,482 | +4.3% |
| Recurring financial charges | 65 | €57,109 | €59,592 | +€2,482 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €312,815 | €241,881 | -€70,934 | -22.7% |
| Income taxes | 67/77 | €87,352 | €52,809 | -€34,543 | -39.5% |
| Profit (loss) for the period | 9904 | €225,463 | €189,072 | -€36,391 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €225,463 | €189,072 | -€36,391 | -16.1% |
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 28 October 2026 via checked.be.