IMMO CROES-BELLEN: 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.
IMMO CROES-BELLEN
Largest movements
- Cash +€287,071
up €287,071 (+332%), from €86,381 to €373,452
mainly Contributions, distributions and other (+€208,000) and Current portion of long-term debt (+€207,704)
- Tangible fixed assets +€198,046
up €198,046 (+27.8%), from €711,466 to €909,512
- Receivables within one year +€22,332
new in 2025: €22,332
of which Trade receivables: +€22,319
- Contributions +€208,000
up €208,000 (+116%), from €179,723 to €387,723
- Current portion of long-term debt +€207,704
up €207,704 (+254%), from €81,639 to €289,343
- Debts after one year +€87,921
up €87,921 (+23.1%), from €380,592 to €468,513
- Trade debts +€26,409
up €26,409 (+1,294%), from €2,041 to €28,450
- Profit (loss) carried forward -€16,554
down €16,554 (-24.1%), from €68,819 to €52,265
- Depreciation +€7,672
up €7,672 (+10.6%), from €72,605 to €80,278
- Write-downs +€7,503
new in 2025: €7,503
- Gross operating margin -€3,852
down €3,852 (-4.2%), from €92,164 to €88,312
- Financial charges +€3,600
up €3,600 (+42.5%), from €8,471 to €12,071
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 | €800,372 | €1,308,988 | +€508,616 | +63.5% |
| Fixed assets | 21/28 | €711,551 | €909,817 | +€198,266 | +27.9% |
| Tangible fixed assets | 22/27 | €711,466 | €909,512 | +€198,046 | +27.8% |
| Land and buildings | 22 | €711,466 | €909,512 | +€198,046 | +27.8% |
| Financial fixed assets | 28 | €85 | €305 | +€220 | +259% |
| Current assets | 29/58 | €88,820 | €399,171 | +€310,351 | +349% |
| Amounts receivable within one year | 40/41 | - | €22,332 | +€22,332 | |
| Trade receivables | 40 | - | €22,319 | +€22,319 | |
| Other amounts receivable | 41 | - | €13 | +€13 | |
| Cash at bank and in hand | 54/58 | €86,381 | €373,452 | +€287,071 | +332% |
| Deferred charges and accrued income | 490/1 | €2,440 | €3,386 | +€947 | +38.8% |
| Total equity and liabilities | 10/49 | €800,372 | €1,308,988 | +€508,616 | +63.5% |
| Equity | 10/15 | €287,806 | €476,331 | +€188,524 | +65.5% |
| Contributions | 10/11 | €179,723 | €387,723 | +€208,000 | +116% |
| Capital | 10 | €179,723 | €387,723 | +€208,000 | +116% |
| Issued capital | 100 | €179,723 | €387,723 | +€208,000 | +116% |
| Reserves | 13 | €39,265 | €36,343 | -€2,922 | -7.4% |
| Non-distributable reserves | 130/1 | €7,918 | €7,918 | = | 0.0% |
| Legal reserve | 130 | €7,918 | €7,918 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,347 | €28,425 | -€2,922 | -9.3% |
| Profit (loss) carried forward | 14 | €68,819 | €52,265 | -€16,554 | -24.1% |
| Provisions and deferred taxes | 16 | €10,449 | €9,475 | -€974 | -9.3% |
| Deferred taxes | 168 | €10,449 | €9,475 | -€974 | -9.3% |
| Amounts payable | 17/49 | €502,116 | €823,182 | +€321,066 | +63.9% |
| Amounts payable after more than one year | 17 | €380,592 | €468,513 | +€87,921 | +23.1% |
| Financial debts | 170/4 | €380,592 | €468,513 | +€87,921 | +23.1% |
| Amounts payable within one year | 42/48 | €118,951 | €353,027 | +€234,076 | +197% |
| Current portion of amounts payable after more than one year | 42 | €81,639 | €289,343 | +€207,704 | +254% |
| Trade debts | 44 | €2,041 | €28,450 | +€26,409 | +1,294% |
| Suppliers | 440/4 | €2,041 | €28,450 | +€26,409 | +1,294% |
| Other amounts payable | 47/48 | €35,272 | €35,235 | -€38 | -0.1% |
| Accrued charges and deferred income | 492/3 | €2,573 | €1,642 | -€931 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,605 | €80,278 | +€7,672 | +10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,503 | +€7,503 | |
| Other operating charges | 640/8 | €8,593 | €8,910 | +€318 | +3.7% |
| Gross operating margin | 9900 | €92,164 | €88,312 | -€3,852 | -4.2% |
| Operating profit (loss) | 9901 | €10,966 | -€8,379 | -€19,345 | |
| Financial charges | 65/66B | €8,471 | €12,071 | +€3,600 | +42.5% |
| Recurring financial charges | 65 | €8,471 | €12,071 | +€3,600 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €2,495 | -€20,450 | -€22,945 | |
| Transfer from deferred taxes | 780 | €974 | €974 | = | 0.0% |
| Profit (loss) for the period | 9904 | €3,469 | -€19,476 | -€22,945 | |
| Transfer from tax-exempt reserves | 789 | €2,922 | €2,922 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,391 | -€16,554 | -€22,945 |
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 23 October 2026 via checked.be.