KRUGGER: what changed
Two fiscal 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.
KRUGGER
Largest movements
- Cash +€18,687
up €18,687 (+73.1%), from €25,558 to €44,245
mainly Depreciation (+€26,650) and Advances received (+€20,000)
- Receivables within one year +€14,871
up €14,871 (+84.4%), from €17,616 to €32,487
- Tangible fixed assets -€12,873
down €12,873 (-23.4%), from €54,940 to €42,068
of which Other tangible fixed assets: -€7,294
- Intangible fixed assets -€12,000
down €12,000 (-50.0%), from €24,000 to €12,000
- Deferred charges and accrued income +€5,074
up €5,074 (+1788.2%), from €284 to €5,357
- Advances received +€20,000
new in 2025: €20,000
- Reserves -€17,578
down €17,578 (-22.7%), from €77,299 to €59,722
- Debts after one year -€16,651
down €16,651 (-70.4%), from €23,637 to €6,986
- Other debts +€13,290
up €13,290 (+98.5%), from €13,492 to €26,782
- Tax, wage and social debts +€8,122
up €8,122 (+283.4%), from €2,865 to €10,987
- Gross operating margin +€7,427
up €7,427 (+28.0%), from €26,522 to €33,948
- Other operating charges -€1,160
down €1,160 (-65.5%), from €1,770 to €610
- Taxes +€1,086
up €1,086 (+132.6%), from €820 to €1,906
- Depreciation -€571
down €571 (-2.1%), from €27,221 to €26,650
- Staff costs +€378
new in 2025: €378
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.
Cash bridge derived
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 | €149,328 | €158,457 | +€9,129 | +6.1% |
| Fixed assets | 21/28 | €78,940 | €54,068 | -€24,873 | -31.5% |
| Intangible fixed assets | 21 | €24,000 | €12,000 | -€12,000 | -50.0% |
| Tangible fixed assets | 22/27 | €54,940 | €42,068 | -€12,873 | -23.4% |
| Plant, machinery and equipment | 23 | €1,853 | €2,901 | +€1,047 | +56.5% |
| Furniture and vehicles | 24 | €23,402 | €16,775 | -€6,626 | -28.3% |
| Other tangible fixed assets | 26 | €29,685 | €22,392 | -€7,294 | -24.6% |
| Current assets | 29/58 | €70,387 | €104,389 | +€34,002 | +48.3% |
| Stocks and contracts in progress | 3 | €26,930 | €22,300 | -€4,630 | -17.2% |
| Stocks | 30/36 | €26,930 | €22,300 | -€4,630 | -17.2% |
| Amounts receivable within one year | 40/41 | €17,616 | €32,487 | +€14,871 | +84.4% |
| Trade receivables | 40 | €17,616 | €32,487 | +€14,871 | +84.4% |
| Cash at bank and in hand | 54/58 | €25,558 | €44,245 | +€18,687 | +73.1% |
| Deferred charges and accrued income | 490/1 | €284 | €5,357 | +€5,074 | +1788.2% |
| Total equity and liabilities | 10/49 | €149,328 | €158,457 | +€9,129 | +6.1% |
| Equity | 10/15 | €91,559 | €73,982 | -€17,578 | -19.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €77,299 | €59,722 | -€17,578 | -22.7% |
| Distributable reserves | 133 | €77,299 | €59,722 | -€17,578 | -22.7% |
| Amounts payable | 17/49 | €57,768 | €84,475 | +€26,707 | +46.2% |
| Amounts payable after more than one year | 17 | €23,637 | €6,986 | -€16,651 | -70.4% |
| Financial debts | 170/4 | €23,637 | €6,986 | -€16,651 | -70.4% |
| Amounts payable within one year | 42/48 | €34,131 | €77,489 | +€43,357 | +127.0% |
| Current portion of amounts payable after more than one year | 42 | €16,487 | €16,651 | +€163 | +1.0% |
| Trade debts | 44 | €1,286 | €3,069 | +€1,782 | +138.5% |
| Suppliers | 440/4 | €1,286 | €3,069 | +€1,782 | +138.5% |
| Advances received on contracts in progress | 46 | - | €20,000 | +€20,000 | |
| Taxes, remuneration and social security | 45 | €2,865 | €10,987 | +€8,122 | +283.4% |
| Taxes | 450/3 | €2,865 | €10,987 | +€8,122 | +283.4% |
| Other amounts payable | 47/48 | €13,492 | €26,782 | +€13,290 | +98.5% |
| Remuneration, social security and pensions | 62 | - | €378 | +€378 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,221 | €26,650 | -€571 | -2.1% |
| Other operating charges | 640/8 | €1,770 | €610 | -€1,160 | -65.5% |
| Gross operating margin | 9900 | €26,522 | €33,948 | +€7,427 | +28.0% |
| Operating profit (loss) | 9901 | -€2,470 | €6,310 | +€8,780 | |
| Financial charges | 65/66B | €723 | €582 | -€141 | -19.5% |
| Recurring financial charges | 65 | €723 | €582 | -€141 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,193 | €5,728 | +€8,921 | |
| Income taxes | 67/77 | €820 | €1,906 | +€1,086 | +132.6% |
| Profit (loss) for the period | 9904 | -€4,012 | €3,822 | +€7,835 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,012 | €3,822 | +€7,835 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.