The Old Crew: 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.
The Old Crew
Largest movements
- Receivables within one year -€393,206
down €393,206 (-83.2%), from €472,519 to €79,313
of which Trade receivables: -€350,899
- Cash +€20,872
up €20,872 (+1,245%), from €1,677 to €22,549
mainly Receivables within one year (+€393,206) and Net result for the year (+€67,059)
- Trade debts -€453,426
down €453,426 (-97.7%), from €464,181 to €10,755
- Profit (loss) carried forward +€67,059
up €67,059 (+11.2%), from -€596,558 to -€529,499
- Tax, wage and social debts +€10,950
up €10,950 (+106%), from €10,298 to €21,248
of which Taxes: +€10,866
- Gross operating margin +€185,613
up €185,613, from -€28,766 to €156,847
- Staff costs +€2,978
up €2,978 (+4.1%), from €72,225 to €75,203
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 | €482,926 | €107,509 | -€375,417 | -77.7% |
| Fixed assets | 21/28 | €5,598 | €3,017 | -€2,581 | -46.1% |
| Tangible fixed assets | 22/27 | €5,373 | €2,792 | -€2,581 | -48.0% |
| Plant, machinery and equipment | 23 | €2,442 | €821 | -€1,621 | -66.4% |
| Furniture and vehicles | 24 | €1,368 | €783 | -€584 | -42.7% |
| Other tangible fixed assets | 26 | €1,564 | €1,188 | -€376 | -24.0% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €477,327 | €104,492 | -€372,835 | -78.1% |
| Amounts receivable within one year | 40/41 | €472,519 | €79,313 | -€393,206 | -83.2% |
| Trade receivables | 40 | €426,347 | €75,448 | -€350,899 | -82.3% |
| Other amounts receivable | 41 | €46,172 | €3,865 | -€42,307 | -91.6% |
| Cash at bank and in hand | 54/58 | €1,677 | €22,549 | +€20,872 | +1,245% |
| Deferred charges and accrued income | 490/1 | €3,131 | €2,630 | -€501 | -16.0% |
| Total equity and liabilities | 10/49 | €482,926 | €107,509 | -€375,417 | -77.7% |
| Equity | 10/15 | €7,144 | €74,203 | +€67,059 | +939% |
| Contributions | 10/11 | €578,500 | €578,500 | = | 0.0% |
| Capital | 10 | €440,000 | €440,000 | = | 0.0% |
| Issued capital | 100 | €440,000 | €440,000 | = | 0.0% |
| Contributions outside capital | 11 | €138,500 | €138,500 | = | 0.0% |
| Share premium | 1100/10 | €138,500 | €138,500 | = | 0.0% |
| Reserves | 13 | €25,202 | €25,202 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,452 | €6,452 | = | 0.0% |
| Legal reserve | 130 | €6,452 | €6,452 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€596,558 | -€529,499 | +€67,059 | +11.2% |
| Amounts payable | 17/49 | €475,782 | €33,306 | -€442,476 | -93.0% |
| Amounts payable within one year | 42/48 | €475,782 | €33,306 | -€442,476 | -93.0% |
| Trade debts | 44 | €464,181 | €10,755 | -€453,426 | -97.7% |
| Suppliers | 440/4 | €464,181 | €10,755 | -€453,426 | -97.7% |
| Taxes, remuneration and social security | 45 | €10,298 | €21,248 | +€10,950 | +106% |
| Taxes | 450/3 | €268 | €11,134 | +€10,866 | +4,060% |
| Remuneration and social security | 454/9 | €10,031 | €10,115 | +€84 | +0.8% |
| Other amounts payable | 47/48 | €1,303 | €1,303 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | €28,241 | +€28,241 | |
| Remuneration, social security and pensions | 62 | €72,225 | €75,203 | +€2,978 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,028 | €2,581 | -€447 | -14.8% |
| Other operating charges | 640/8 | €11,430 | €10,993 | -€437 | -3.8% |
| Gross operating margin | 9900 | -€28,766 | €156,847 | +€185,613 | |
| Operating profit (loss) | 9901 | -€115,449 | €68,070 | +€183,519 | |
| Financial income | 75/76B | €32 | €0 | -€32 | -100% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -100% |
| Financial charges | 65/66B | €1,012 | €923 | -€89 | -8.8% |
| Recurring financial charges | 65 | €1,012 | €923 | -€89 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | -€116,429 | €67,147 | +€183,576 | |
| Income taxes | 67/77 | €90 | €88 | -€2 | -2.7% |
| Profit (loss) for the period | 9904 | -€116,519 | €67,059 | +€183,578 | |
| Profit (loss) for the period to be appropriated | 9905 | -€116,519 | €67,059 | +€183,578 |
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 20 October 2026 via checked.be.