Wouter Crepel: 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.
Wouter Crepel
Largest movements
- Cash +€54,257
up €54,257 (+65.0%), from €83,408 to €137,665
mainly Net result for the year (+€142,460) and Depreciation (+€34,395)
- Receivables within one year +€50,531
up €50,531 (+743.3%), from €6,798 to €57,330
of which Trade receivables: +€54,531
- Tangible fixed assets -€17,162
down €17,162 (-10.5%), from €163,688 to €146,526
of which Land and buildings: -€11,909
- Current investments +€16,000
up €16,000 (+30.8%), from €52,000 to €68,000
- Intangible fixed assets -€10,500
down €10,500 (-27.9%), from €37,625 to €27,125
- Reserves +€142,460
up €142,460 (+74.7%), from €190,721 to €333,181
- Debts after one year -€42,950
no longer reported in 2025 (was €42,950)
- Tax, wage and social debts +€18,705
up €18,705 (+115.2%), from €16,243 to €34,948
of which Taxes: +€16,255
- Current portion of long-term debt -€16,857
down €16,857 (-85.9%), from €19,625 to €2,768
- Trade debts -€10,796
down €10,796 (-64.8%), from €16,667 to €5,871
- Gross operating margin +€166,283
up €166,283 (+213.4%), from €77,923 to €244,205
- Taxes +€36,481
up €36,481 (+458.2%), from €7,961 to €44,442
- Staff costs +€12,473
up €12,473 (+294.6%), from €4,233 to €16,707
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 | €344,866 | €437,959 | +€93,093 | +27.0% |
| Fixed assets | 21/28 | €201,313 | €173,651 | -€27,662 | -13.7% |
| Intangible fixed assets | 21 | €37,625 | €27,125 | -€10,500 | -27.9% |
| Tangible fixed assets | 22/27 | €163,688 | €146,526 | -€17,162 | -10.5% |
| Land and buildings | 22 | €146,673 | €134,764 | -€11,909 | -8.1% |
| Plant, machinery and equipment | 23 | €1,662 | €7,525 | +€5,862 | +352.6% |
| Furniture and vehicles | 24 | €3,850 | €2,567 | -€1,284 | -33.3% |
| Leasing and similar rights | 25 | €11,502 | €1,670 | -€9,832 | -85.5% |
| Current assets | 29/58 | €143,554 | €264,308 | +€120,754 | +84.1% |
| Amounts receivable within one year | 40/41 | €6,798 | €57,330 | +€50,531 | +743.3% |
| Trade receivables | 40 | €1,760 | €56,291 | +€54,531 | +3098.8% |
| Other amounts receivable | 41 | €5,039 | €1,039 | -€4,000 | -79.4% |
| Current investments | 50/53 | €52,000 | €68,000 | +€16,000 | +30.8% |
| Cash at bank and in hand | 54/58 | €83,408 | €137,665 | +€54,257 | +65.0% |
| Deferred charges and accrued income | 490/1 | €1,347 | €1,313 | -€34 | -2.5% |
| Total equity and liabilities | 10/49 | €344,866 | €437,959 | +€93,093 | +27.0% |
| Equity | 10/15 | €209,321 | €351,781 | +€142,460 | +68.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €190,721 | €333,181 | +€142,460 | +74.7% |
| Distributable reserves | 133 | €190,721 | €333,181 | +€142,460 | +74.7% |
| Amounts payable | 17/49 | €135,546 | €86,178 | -€49,368 | -36.4% |
| Amounts payable after more than one year | 17 | €42,950 | - | -€42,950 | |
| Financial debts | 170/4 | €42,950 | - | -€42,950 | |
| Amounts payable within one year | 42/48 | €92,596 | €86,178 | -€6,418 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €19,625 | €2,768 | -€16,857 | -85.9% |
| Trade debts | 44 | €16,667 | €5,871 | -€10,796 | -64.8% |
| Suppliers | 440/4 | €16,667 | €5,871 | -€10,796 | -64.8% |
| Taxes, remuneration and social security | 45 | €16,243 | €34,948 | +€18,705 | +115.2% |
| Taxes | 450/3 | €10,098 | €26,353 | +€16,255 | +161.0% |
| Remuneration and social security | 454/9 | €6,145 | €8,595 | +€2,450 | +39.9% |
| Other amounts payable | 47/48 | €40,061 | €42,591 | +€2,530 | +6.3% |
| Remuneration, social security and pensions | 62 | €4,233 | €16,707 | +€12,473 | +294.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,661 | €34,395 | +€734 | +2.2% |
| Other operating charges | 640/8 | €3,810 | €2,659 | -€1,150 | -30.2% |
| Gross operating margin | 9900 | €77,923 | €244,205 | +€166,283 | +213.4% |
| Operating profit (loss) | 9901 | €36,218 | €190,444 | +€154,226 | +425.8% |
| Financial charges | 65/66B | €3,931 | €3,541 | -€390 | -9.9% |
| Recurring financial charges | 65 | €3,931 | €3,541 | -€390 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €32,287 | €186,903 | +€154,615 | +478.9% |
| Income taxes | 67/77 | €7,961 | €44,442 | +€36,481 | +458.2% |
| Profit (loss) for the period | 9904 | €24,326 | €142,460 | +€118,135 | +485.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,326 | €142,460 | +€118,135 | +485.6% |
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 6 October 2026 via checked.be.