KRUISPAD: 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.
KRUISPAD
Largest movements
- Stocks and contracts +€1.9m
up €1.9m (+312.3%), from €611,177 to €2.5m
- Tangible fixed assets -€1.2m
no longer reported in 2025 (was €1.2m)
- Advances received +€1.7m
up €1.7m (+277.8%), from €611,850 to €2.3m
- Debts after one year -€710,900
no longer reported in 2025 (was €710,900)
- Other debts -€440,156
down €440,156 (-76.0%), from €579,505 to €139,349
- Trade debts +€143,455
new in 2025: €143,455
- Short-term financial debts +€124,514
new in 2025: €124,514
- Gross operating margin -€26,599
down €26,599, from €23,925 to -€2,673
- Depreciation -€21,458
no longer reported in 2025 (was €21,458)
- Financial charges -€3,662
down €3,662 (-75.1%), from €4,879 to €1,217
- Other operating charges +€477
up €477 (+404.2%), from €118 to €595
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 | €1,901,270 | €2,590,096 | +€688,826 | +36.2% |
| Fixed assets | 21/28 | €1,203,208 | - | -€1.2m | |
| Tangible fixed assets | 22/27 | €1,203,208 | - | -€1.2m | |
| Land and buildings | 22 | €1,203,208 | - | -€1.2m | |
| Current assets | 29/58 | €698,063 | €2,590,096 | +€1.9m | +271.0% |
| Stocks and contracts in progress | 3 | €611,177 | €2,520,078 | +€1.9m | +312.3% |
| Stocks | 30/36 | €611,177 | €2,520,078 | +€1.9m | +312.3% |
| Amounts receivable within one year | 40/41 | €73,007 | €70,018 | -€2,990 | -4.1% |
| Other amounts receivable | 41 | €73,007 | €70,018 | -€2,990 | -4.1% |
| Cash at bank and in hand | 54/58 | €13,878 | - | -€13,878 | |
| Total equity and liabilities | 10/49 | €1,901,270 | €2,590,096 | +€688,826 | +36.2% |
| Equity | 10/15 | -€124,001 | -€128,487 | -€4,485 | -3.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,201 | -€134,687 | -€4,485 | -3.4% |
| Amounts payable | 17/49 | €2,025,272 | €2,718,583 | +€693,311 | +34.2% |
| Amounts payable after more than one year | 17 | €710,900 | - | -€710,900 | |
| Financial debts | 170/4 | €710,900 | - | -€710,900 | |
| Amounts payable within one year | 42/48 | €1,314,372 | €2,718,583 | +€1.4m | +106.8% |
| Financial debts | 43 | - | €124,514 | +€124,514 | |
| Credit institutions | 430/8 | - | €124,514 | +€124,514 | |
| Trade debts | 44 | - | €143,455 | +€143,455 | |
| Suppliers | 440/4 | - | €143,455 | +€143,455 | |
| Advances received on contracts in progress | 46 | €611,850 | €2,311,266 | +€1.7m | +277.8% |
| Taxes, remuneration and social security | 45 | €123,017 | - | -€123,017 | |
| Taxes | 450/3 | €123,017 | - | -€123,017 | |
| Other amounts payable | 47/48 | €579,505 | €139,349 | -€440,156 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,458 | - | -€21,458 | |
| Other operating charges | 640/8 | €118 | €595 | +€477 | +404.2% |
| Gross operating margin | 9900 | €23,925 | -€2,673 | -€26,599 | |
| Operating profit (loss) | 9901 | €2,349 | -€3,268 | -€5,618 | |
| Financial charges | 65/66B | €4,879 | €1,217 | -€3,662 | -75.1% |
| Recurring financial charges | 65 | €4,879 | €1,217 | -€3,662 | -75.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,530 | -€4,485 | -€1,956 | -77.3% |
| Profit (loss) for the period | 9904 | -€2,530 | -€4,485 | -€1,956 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,530 | -€4,485 | -€1,956 | -77.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.