SCARECROW: 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.
SCARECROW
Largest movements
- Tangible fixed assets +€66,846
up €66,846 (+7.2%), from €924,423 to €991,269
of which Land and buildings: +€63,876
- Profit (loss) carried forward +€75,055
up €75,055 (+59.6%), from €126,025 to €201,080
- Debts after one year +€73,373
up €73,373 (+15.6%), from €468,961 to €542,334
of which Other amounts payable: +€78,500
- Other debts -€61,221
down €61,221 (-20.2%), from €302,463 to €241,241
- Trade debts -€14,401
down €14,401 (-94.2%), from €15,293 to €892
- Gross operating margin +€30,635
up €30,635 (+24.8%), from €123,381 to €154,015
- Taxes +€7,278
up €7,278 (+38.7%), from €18,803 to €26,081
- Financial charges +€5,005
up €5,005 (+26.1%), from €19,190 to €24,195
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 | €997,807 | €1,076,803 | +€78,996 | +7.9% |
| Fixed assets | 21/28 | €924,423 | €991,269 | +€66,846 | +7.2% |
| Tangible fixed assets | 22/27 | €924,423 | €991,269 | +€66,846 | +7.2% |
| Land and buildings | 22 | €924,423 | €988,298 | +€63,876 | +6.9% |
| Furniture and vehicles | 24 | - | €2,971 | +€2,971 | |
| Current assets | 29/58 | €73,385 | €85,534 | +€12,150 | +16.6% |
| Amounts receivable within one year | 40/41 | €6,012 | €13,180 | +€7,168 | +119.2% |
| Trade receivables | 40 | €6,012 | €13,180 | +€7,168 | +119.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €60,101 | €65,396 | +€5,295 | +8.8% |
| Cash at bank and in hand | 54/58 | €6,754 | €6,269 | -€485 | -7.2% |
| Deferred charges and accrued income | 490/1 | €518 | €689 | +€171 | +33.1% |
| Total equity and liabilities | 10/49 | €997,807 | €1,076,803 | +€78,996 | +7.9% |
| Equity | 10/15 | €151,025 | €226,080 | +€75,055 | +49.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,025 | €201,080 | +€75,055 | +59.6% |
| Amounts payable | 17/49 | €846,782 | €850,723 | +€3,941 | +0.5% |
| Amounts payable after more than one year | 17 | €468,961 | €542,334 | +€73,373 | +15.6% |
| Financial debts | 170/4 | €397,461 | €392,334 | -€5,127 | -1.3% |
| Other amounts payable | 178/9 | €71,500 | €150,000 | +€78,500 | +109.8% |
| Amounts payable within one year | 42/48 | €377,821 | €308,389 | -€69,432 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €31,846 | €32,719 | +€873 | +2.7% |
| Financial debts | 43 | €10,590 | €12,527 | +€1,937 | +18.3% |
| Credit institutions | 430/8 | €10,590 | €12,527 | +€1,937 | +18.3% |
| Trade debts | 44 | €15,293 | €892 | -€14,401 | -94.2% |
| Suppliers | 440/4 | €15,293 | €892 | -€14,401 | -94.2% |
| Taxes, remuneration and social security | 45 | €17,629 | €21,010 | +€3,381 | +19.2% |
| Taxes | 450/3 | €17,629 | €21,010 | +€3,381 | +19.2% |
| Other amounts payable | 47/48 | €302,463 | €241,241 | -€61,221 | -20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,167 | €23,201 | +€1,034 | +4.7% |
| Other operating charges | 640/8 | €6,931 | €5,956 | -€975 | -14.1% |
| Gross operating margin | 9900 | €123,381 | €154,015 | +€30,635 | +24.8% |
| Operating profit (loss) | 9901 | €94,283 | €124,859 | +€30,576 | +32.4% |
| Financial income | 75/76B | €120 | €472 | +€352 | +293.4% |
| Recurring financial income | 75 | €120 | €472 | +€352 | +293.4% |
| Financial charges | 65/66B | €19,190 | €24,195 | +€5,005 | +26.1% |
| Recurring financial charges | 65 | €19,190 | €24,195 | +€5,005 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | €75,213 | €101,136 | +€25,923 | +34.5% |
| Income taxes | 67/77 | €18,803 | €26,081 | +€7,278 | +38.7% |
| Profit (loss) for the period | 9904 | €56,409 | €75,055 | +€18,645 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,409 | €75,055 | +€18,645 | +33.1% |
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 8 October 2026 via checked.be.