KRULLEKOP: 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.
KRULLEKOP
Largest movements
- Tangible fixed assets -€427,320
down €427,320 (-97.0%), from €440,350 to €13,030
of which Land and buildings: -€404,687
- Financial fixed assets -€405,285
down €405,285 (-28.0%), from €1.5m to €1.0m
- Receivables within one year -€70,261
down €70,261 (-82.8%), from €84,850 to €14,589
of which Trade receivables: -€77,090
- Intangible fixed assets -€31,263
down €31,263 (-55.3%), from €56,508 to €25,244
- Debts after one year -€728,871
down €728,871 (-53.5%), from €1.4m to €632,772
- Reserves -€143,648
down €143,648 (-38.5%), from €373,307 to €229,659
- Tax, wage and social debts -€33,876
down €33,876 (-99.8%), from €33,959 to €83
of which Taxes: -€21,408
- Current portion of long-term debt -€31,239
down €31,239 (-27.5%), from €113,575 to €82,336
- Trade debts -€26,237
down €26,237 (-24.4%), from €107,339 to €81,102
- Staff costs -€101,226
down €101,226 (-52.9%), from €191,307 to €90,081
- Financial income -€90,000
down €90,000 (-100.0%), from €90,000 to €0
- Taxes -€9,646
down €9,646 (-99.1%), from €9,729 to €83
- Gross operating margin +€8,560
up €8,560 (+3.0%), from €282,863 to €291,423
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,066,757 | €1,098,203 | -€968,554 | -46.9% |
| Fixed assets | 21/28 | €1,946,858 | €1,082,990 | -€863,868 | -44.4% |
| Intangible fixed assets | 21 | €56,508 | €25,244 | -€31,263 | -55.3% |
| Tangible fixed assets | 22/27 | €440,350 | €13,030 | -€427,320 | -97.0% |
| Land and buildings | 22 | €404,687 | - | -€404,687 | |
| Plant, machinery and equipment | 23 | €4,824 | - | -€4,824 | |
| Furniture and vehicles | 24 | €30,839 | €13,030 | -€17,809 | -57.7% |
| Financial fixed assets | 28 | €1,450,000 | €1,044,715 | -€405,285 | -28.0% |
| Current assets | 29/58 | €119,899 | €15,213 | -€104,686 | -87.3% |
| Stocks and contracts in progress | 3 | €18,862 | - | -€18,862 | |
| Stocks | 30/36 | €18,862 | - | -€18,862 | |
| Amounts receivable within one year | 40/41 | €84,850 | €14,589 | -€70,261 | -82.8% |
| Trade receivables | 40 | €84,850 | €7,759 | -€77,090 | -90.9% |
| Other amounts receivable | 41 | - | €6,829 | +€6,829 | |
| Cash at bank and in hand | 54/58 | €1,250 | - | -€1,250 | |
| Deferred charges and accrued income | 490/1 | €14,938 | €624 | -€14,314 | -95.8% |
| Total equity and liabilities | 10/49 | €2,066,757 | €1,098,203 | -€968,554 | -46.9% |
| Equity | 10/15 | €441,907 | €298,259 | -€143,648 | -32.5% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €373,307 | €229,659 | -€143,648 | -38.5% |
| Distributable reserves | 133 | €373,307 | €229,659 | -€143,648 | -38.5% |
| Amounts payable | 17/49 | €1,624,850 | €799,944 | -€824,905 | -50.8% |
| Amounts payable after more than one year | 17 | €1,361,644 | €632,772 | -€728,871 | -53.5% |
| Financial debts | 170/4 | €1,361,644 | €632,772 | -€728,871 | -53.5% |
| Amounts payable within one year | 42/48 | €254,873 | €166,078 | -€88,795 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €113,575 | €82,336 | -€31,239 | -27.5% |
| Financial debts | 43 | - | €2,415 | +€2,415 | |
| Credit institutions | 430/8 | - | €2,415 | +€2,415 | |
| Trade debts | 44 | €107,339 | €81,102 | -€26,237 | -24.4% |
| Suppliers | 440/4 | €107,339 | €81,102 | -€26,237 | -24.4% |
| Taxes, remuneration and social security | 45 | €33,959 | €83 | -€33,876 | -99.8% |
| Taxes | 450/3 | €21,491 | €83 | -€21,408 | -99.6% |
| Remuneration and social security | 454/9 | €12,468 | - | -€12,468 | |
| Other amounts payable | 47/48 | - | €142 | +€142 | |
| Accrued charges and deferred income | 492/3 | €8,333 | €1,094 | -€7,239 | -86.9% |
| Non-recurring operating income | 76A | €25,630 | €359,404 | +€333,774 | +1,302% |
| Remuneration, social security and pensions | 62 | €191,307 | €90,081 | -€101,226 | -52.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,309 | €44,995 | -€2,314 | -4.9% |
| Other operating charges | 640/8 | €5,999 | €5,500 | -€498 | -8.3% |
| Non-recurring operating charges | 66A | - | €278,441 | +€278,441 | |
| Gross operating margin | 9900 | €282,863 | €291,423 | +€8,560 | +3.0% |
| Operating profit (loss) | 9901 | €38,248 | -€127,595 | -€165,843 | |
| Financial income | 75/76B | €90,000 | €0 | -€90,000 | -100.0% |
| Recurring financial income | 75 | €90,000 | €0 | -€90,000 | -100.0% |
| Financial charges | 65/66B | €14,069 | €15,971 | +€1,902 | +13.5% |
| Recurring financial charges | 65 | €14,069 | €15,971 | +€1,902 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €114,179 | -€143,565 | -€257,745 | |
| Income taxes | 67/77 | €9,729 | €83 | -€9,646 | -99.1% |
| Profit (loss) for the period | 9904 | €104,450 | -€143,648 | -€248,098 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,450 | -€143,648 | -€248,098 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.