ROYAL CROISSANT: 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.
ROYAL CROISSANT
Largest movements
- Receivables within one year +€184,589
up €184,589 (+169%), from €108,920 to €293,509
- Tangible fixed assets -€29,639
down €29,639 (-19.3%), from €153,308 to €123,669
of which Furniture and vehicles: -€28,448
- Cash -€10,728
down €10,728 (-38.7%), from €27,752 to €17,024
mainly Receivables within one year (-€184,589) and Net result for the year (-€31,730)
- Stocks and contracts +€9,752
up €9,752 (+12.8%), from €76,413 to €86,165
- Trade debts +€223,062
up €223,062 (+3,258%), from €6,846 to €229,909
- Profit (loss) carried forward -€31,730
down €31,730, from €13,901 to -€17,830
- Debts after one year -€25,437
down €25,437 (-30.7%), from €82,893 to €57,456
- Tax, wage and social debts -€8,131
down €8,131 (-59.0%), from €13,791 to €5,660
of which Remuneration and social security: -€5,738
- Gross operating margin -€26,643
down €26,643 (-21.6%), from €123,357 to €96,714
- Staff costs +€15,728
up €15,728 (+20.2%), from €77,932 to €93,660
- Financial charges -€1,728
down €1,728 (-31.3%), from €5,530 to €3,801
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 | €366,893 | €520,867 | +€153,974 | +42.0% |
| Fixed assets | 21/28 | €153,808 | €124,169 | -€29,639 | -19.3% |
| Tangible fixed assets | 22/27 | €153,308 | €123,669 | -€29,639 | -19.3% |
| Land and buildings | 22 | €58,004 | €58,004 | = | 0.0% |
| Plant, machinery and equipment | 23 | €25,781 | €24,590 | -€1,191 | -4.6% |
| Furniture and vehicles | 24 | €69,523 | €41,075 | -€28,448 | -40.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €213,085 | €396,698 | +€183,613 | +86.2% |
| Stocks and contracts in progress | 3 | €76,413 | €86,165 | +€9,752 | +12.8% |
| Stocks | 30/36 | €76,413 | €86,165 | +€9,752 | +12.8% |
| Amounts receivable within one year | 40/41 | €108,920 | €293,509 | +€184,589 | +169% |
| Trade receivables | 40 | €108,920 | €293,509 | +€184,589 | +169% |
| Cash at bank and in hand | 54/58 | €27,752 | €17,024 | -€10,728 | -38.7% |
| Total equity and liabilities | 10/49 | €366,893 | €520,867 | +€153,974 | +42.0% |
| Equity | 10/15 | €82,651 | €50,920 | -€31,730 | -38.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,901 | -€17,830 | -€31,730 | |
| Amounts payable | 17/49 | €284,242 | €469,947 | +€185,705 | +65.3% |
| Amounts payable after more than one year | 17 | €82,893 | €57,456 | -€25,437 | -30.7% |
| Financial debts | 170/4 | €82,893 | €57,456 | -€25,437 | -30.7% |
| Amounts payable within one year | 42/48 | €201,349 | €412,491 | +€211,141 | +105% |
| Trade debts | 44 | €6,846 | €229,909 | +€223,062 | +3,258% |
| Suppliers | 440/4 | €6,846 | €229,909 | +€223,062 | +3,258% |
| Taxes, remuneration and social security | 45 | €13,791 | €5,660 | -€8,131 | -59.0% |
| Taxes | 450/3 | €7,396 | €5,003 | -€2,393 | -32.4% |
| Remuneration and social security | 454/9 | €6,395 | €657 | -€5,738 | -89.7% |
| Other amounts payable | 47/48 | €180,712 | €176,922 | -€3,791 | -2.1% |
| Remuneration, social security and pensions | 62 | €77,932 | €93,660 | +€15,728 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,550 | €30,924 | -€627 | -2.0% |
| Other operating charges | 640/8 | €56 | €60 | +€5 | +8.1% |
| Gross operating margin | 9900 | €123,357 | €96,714 | -€26,643 | -21.6% |
| Operating profit (loss) | 9901 | €13,820 | -€27,929 | -€41,749 | |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €5,530 | €3,801 | -€1,728 | -31.3% |
| Recurring financial charges | 65 | €5,530 | €3,801 | -€1,728 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €8,305 | -€31,730 | -€40,036 | |
| Profit (loss) for the period | 9904 | €8,305 | -€31,730 | -€40,036 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,305 | -€31,730 | -€40,036 |
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 25 October 2026 via checked.be.