'T Kruiske: what changed
'T Kruiske
Largest movements
- Receivables within one year -€65,630
down €65,630 (-67.3%), from €97,496 to €31,866
of which Trade receivables: -€64,044
- Tangible fixed assets +€12,779
up €12,779 (+29.5%), from €43,272 to €56,052
of which Other tangible fixed assets: +€11,782
- Intangible fixed assets -€9,000
down €9,000 (-13.2%), from €68,227 to €59,227
- Stocks and contracts +€5,650
up €5,650 (+51.9%), from €10,878 to €16,527
- Cash +€2,475
up €2,475 (+9.3%), from €26,701 to €29,175
mainly Receivables within one year (+€65,630) and Depreciation (+€19,138)
- Trade debts -€55,273
down €55,273 (-58.2%), from €94,970 to €39,696
- Reserves +€19,015
up €19,015 (+59.0%), from €32,211 to €51,226
- Other debts -€12,842
down €12,842 (-31.8%), from €40,342 to €27,500
- Debts after one year -€7,586
down €7,586 (-16.8%), from €45,124 to €37,538
- Current portion of long-term debt +€3,631
up €3,631 (+22.2%), from €16,334 to €19,965
- Staff costs +€39,456
up €39,456 (+30.0%), from €131,555 to €171,011
- Gross operating margin +€38,789
up €38,789 (+21.0%), from €184,312 to €223,101
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €246,574 | €192,848 | -€53,726 | -21.8% |
| Fixed assets | 21/28 | €111,500 | €115,279 | +€3,779 | +3.4% |
| Intangible fixed assets | 21 | €68,227 | €59,227 | -€9,000 | -13.2% |
| Tangible fixed assets | 22/27 | €43,272 | €56,052 | +€12,779 | +29.5% |
| Plant, machinery and equipment | 23 | €1,119 | €4,281 | +€3,162 | +283% |
| Furniture and vehicles | 24 | €6,074 | €5,488 | -€586 | -9.7% |
| Leasing and similar rights | 25 | €1,756 | €178 | -€1,579 | -89.9% |
| Other tangible fixed assets | 26 | €34,323 | €46,105 | +€11,782 | +34.3% |
| Current assets | 29/58 | €135,074 | €77,569 | -€57,505 | -42.6% |
| Stocks and contracts in progress | 3 | €10,878 | €16,527 | +€5,650 | +51.9% |
| Stocks | 30/36 | €10,878 | €16,527 | +€5,650 | +51.9% |
| Amounts receivable within one year | 40/41 | €97,496 | €31,866 | -€65,630 | -67.3% |
| Trade receivables | 40 | €94,775 | €30,731 | -€64,044 | -67.6% |
| Other amounts receivable | 41 | €2,721 | €1,135 | -€1,586 | -58.3% |
| Cash at bank and in hand | 54/58 | €26,701 | €29,175 | +€2,475 | +9.3% |
| Total equity and liabilities | 10/49 | €246,574 | €192,848 | -€53,726 | -21.8% |
| Equity | 10/15 | €35,211 | €54,226 | +€19,015 | +54.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,211 | €51,226 | +€19,015 | +59.0% |
| Distributable reserves | 133 | €32,211 | €51,226 | +€19,015 | +59.0% |
| Amounts payable | 17/49 | €211,363 | €138,621 | -€72,742 | -34.4% |
| Amounts payable after more than one year | 17 | €45,124 | €37,538 | -€7,586 | -16.8% |
| Financial debts | 170/4 | €45,124 | €37,538 | -€7,586 | -16.8% |
| Amounts payable within one year | 42/48 | €166,239 | €101,083 | -€65,156 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €16,334 | €19,965 | +€3,631 | +22.2% |
| Financial debts | 43 | €1,275 | €1,286 | +€10 | +0.8% |
| Other loans | 439 | €1,275 | €1,286 | +€10 | +0.8% |
| Trade debts | 44 | €94,970 | €39,696 | -€55,273 | -58.2% |
| Suppliers | 440/4 | €94,970 | €39,696 | -€55,273 | -58.2% |
| Taxes, remuneration and social security | 45 | €13,318 | €12,636 | -€682 | -5.1% |
| Taxes | 450/3 | €2,136 | €3,281 | +€1,145 | +53.6% |
| Remuneration and social security | 454/9 | €11,182 | €9,356 | -€1,827 | -16.3% |
| Other amounts payable | 47/48 | €40,342 | €27,500 | -€12,842 | -31.8% |
| Remuneration, social security and pensions | 62 | €131,555 | €171,011 | +€39,456 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,383 | €19,138 | +€1,755 | +10.1% |
| Other operating charges | 640/8 | €3,133 | €3,230 | +€97 | +3.1% |
| Gross operating margin | 9900 | €184,312 | €223,101 | +€38,789 | +21.0% |
| Operating profit (loss) | 9901 | €32,241 | €29,722 | -€2,519 | -7.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.7% |
| Financial charges | 65/66B | €4,518 | €4,562 | +€44 | +1.0% |
| Recurring financial charges | 65 | €4,518 | €4,562 | +€44 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €27,723 | €25,160 | -€2,563 | -9.2% |
| Income taxes | 67/77 | €7,733 | €6,145 | -€1,589 | -20.5% |
| Profit (loss) for the period | 9904 | €19,990 | €19,015 | -€975 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,990 | €19,015 | -€975 | -4.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.