KRUISKEN: 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.
What changed
KRUISKEN
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€35,104
2024 · €33,391+€1,713
Equity
€1.0m
2024 · €1.0m-€14,896
Cash
€142,235
2024 · €184,284-€42,049
Balance sheet total
€3.0m
2024 · €3.1m-€166,336
Largest movements
Assets
- Tangible fixed assets -€133,808
down €133,808 (-4.6%), from €2.9m to €2.8m
of which Land and buildings: -€130,638
- Cash -€42,049
down €42,049 (-22.8%), from €184,284 to €142,235
mainly Debts after one year (-€175,210) and Contributions, distributions and other (-€50,000)
Equity and liabilities
- Debts after one year -€175,210
down €175,210 (-9.9%), from €1.8m to €1.6m
Income statement
- Turnover -€307,118
no longer reported in 2025 (was €307,118)
- Purchases and services -€39,062
no longer reported in 2025 (was €39,062)
- Taxes +€6,115
up €6,115 (+47.7%), from €12,816 to €18,931
- Financial income +€4,450
new in 2025: €4,450
- Financial charges -€3,198
down €3,198 (-8.2%), from €39,156 to €35,958
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.
Result 2024
€33,391
Gross operating margin
+€1,895
Staff costs
-€1,098
Depreciation
-€6
Other operating charges
-€612
Financial income
+€4,450
Financial charges
+€3,198
Taxes
-€6,115
Result 2025
€35,104
raises the resultlowers the result
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.
From operations
+€180,226
Investment
-€1,199
Financing
-€221,076
Cash 2024
€184,284
From operations (derived)
+€180,226
Net result for the year
+€35,104
Depreciation
+€135,007
Deferred charges and accrued income
-€9,521
Provisions
-€4,463
Trade debts
+€1,314
Tax, wage and social debts
+€221
Other debts
+€25,570
Accrued charges and deferred income
-€3,007
Investment (derived)
-€1,199
Investment in fixed assets (net)
-€1,199
Financing
-€221,076
Debts after one year
-€175,210
Current portion of long-term debt
+€4,134
Contributions, distributions and other
-€50,000
Cash 2025
€142,235
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,149,093 | €2,982,757 | -€166,336 | -5.3% |
| Fixed assets | 21/28 | €2,912,956 | €2,779,148 | -€133,808 | -4.6% |
| Tangible fixed assets | 22/27 | €2,912,956 | €2,779,148 | -€133,808 | -4.6% |
| Land and buildings | 22 | €2,906,282 | €2,775,644 | -€130,638 | -4.5% |
| Plant, machinery and equipment | 23 | €6,674 | €3,504 | -€3,170 | -47.5% |
| Current assets | 29/58 | €236,137 | €203,609 | -€32,528 | -13.8% |
| Amounts receivable within one year | 40/41 | €205 | €205 | = | 0.0% |
| Other amounts receivable | 41 | €205 | €205 | = | 0.0% |
| Current investments | 50/53 | €48,753 | €48,753 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €184,284 | €142,235 | -€42,049 | -22.8% |
| Deferred charges and accrued income | 490/1 | €2,895 | €12,416 | +€9,521 | +329% |
| Total equity and liabilities | 10/49 | €3,149,093 | €2,982,757 | -€166,336 | -5.3% |
| Equity | 10/15 | €1,017,711 | €1,002,815 | -€14,896 | -1.5% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Uncalled capital | 101 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €417,711 | €402,815 | -€14,896 | -3.6% |
| Non-distributable reserves | 130/1 | €60,000 | €62,500 | +€2,500 | +4.2% |
| Legal reserve | 130 | €60,000 | €62,500 | +€2,500 | +4.2% |
| Tax-exempt reserves | 132 | €335,596 | €322,207 | -€13,389 | -4.0% |
| Distributable reserves | 133 | €22,115 | €18,107 | -€4,007 | -18.1% |
| Provisions and deferred taxes | 16 | €111,865 | €107,402 | -€4,463 | -4.0% |
| Deferred taxes | 168 | €111,865 | €107,402 | -€4,463 | -4.0% |
| Amounts payable | 17/49 | €2,019,517 | €1,872,540 | -€146,977 | -7.3% |
| Amounts payable after more than one year | 17 | €1,775,002 | €1,599,792 | -€175,210 | -9.9% |
| Financial debts | 170/4 | €1,775,002 | €1,599,792 | -€175,210 | -9.9% |
| Amounts payable within one year | 42/48 | €233,142 | €264,382 | +€31,239 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €174,867 | €179,001 | +€4,134 | +2.4% |
| Trade debts | 44 | €2,656 | €3,970 | +€1,314 | +49.5% |
| Suppliers | 440/4 | €2,656 | €3,970 | +€1,314 | +49.5% |
| Taxes, remuneration and social security | 45 | €7,089 | €7,311 | +€221 | +3.1% |
| Remuneration and social security | 454/9 | €7,089 | €7,311 | +€221 | +3.1% |
| Other amounts payable | 47/48 | €48,530 | €74,100 | +€25,570 | +52.7% |
| Accrued charges and deferred income | 492/3 | €11,374 | €8,367 | -€3,007 | -26.4% |
| Turnover | 70 | €307,118 | - | -€307,118 | |
| Goods, raw materials, services and sundry goods | 60/61 | €39,062 | - | -€39,062 | |
| Remuneration, social security and pensions | 62 | €38,408 | €39,506 | +€1,098 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,001 | €135,007 | +€6 | 0.0% |
| Other operating charges | 640/8 | €13,847 | €14,458 | +€612 | +4.4% |
| Gross operating margin | 9900 | €268,156 | €270,051 | +€1,895 | +0.7% |
| Operating profit (loss) | 9901 | €80,900 | €81,080 | +€180 | +0.2% |
| Financial income | 75/76B | - | €4,450 | +€4,450 | |
| Recurring financial income | 75 | - | €4,450 | +€4,450 | |
| Financial charges | 65/66B | €39,156 | €35,958 | -€3,198 | -8.2% |
| Recurring financial charges | 65 | €39,156 | €35,958 | -€3,198 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €41,744 | €49,572 | +€7,828 | +18.8% |
| Transfer from deferred taxes | 780 | €4,463 | €4,463 | = | 0.0% |
| Income taxes | 67/77 | €12,816 | €18,931 | +€6,115 | +47.7% |
| Profit (loss) for the period | 9904 | €33,391 | €35,104 | +€1,713 | +5.1% |
| Transfer from tax-exempt reserves | 789 | €13,389 | €13,389 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,780 | €48,493 | +€1,713 | +3.7% |
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 24 October 2026 via checked.be.