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.
Crevaro
Largest movements
- Tangible fixed assets +€17,178
up €17,178 (+3.1%), from €554,148 to €571,326
of which Furniture and vehicles: +€19,022
- Reserves +€16,070
up €16,070 (+16.7%), from €96,411 to €112,481
- Current portion of long-term debt +€12,642
up €12,642 (+43.2%), from €29,295 to €41,937
- Short-term financial debts +€9,000
new in 2025: €9,000
- Trade debts -€8,699
down €8,699 (-75.5%), from €11,524 to €2,825
- Other debts -€8,389
down €8,389 (-17.4%), from €48,192 to €39,804
- Gross operating margin +€9,445
up €9,445 (+14.2%), from €66,303 to €75,748
- Depreciation +€5,728
up €5,728 (+16.3%), from €35,211 to €40,939
- Other operating charges -€2,283
down €2,283 (-39.6%), from €5,757 to €3,475
- Financial charges +€2,256
up €2,256 (+25.0%), from €9,020 to €11,276
- Taxes +€1,797
up €1,797 (+78.4%), from €2,291 to €4,088
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 | €592,455 | €606,065 | +€13,610 | +2.3% |
| Fixed assets | 21/28 | €554,148 | €571,326 | +€17,178 | +3.1% |
| Tangible fixed assets | 22/27 | €554,148 | €571,326 | +€17,178 | +3.1% |
| Land and buildings | 22 | €517,038 | €508,939 | -€8,099 | -1.6% |
| Plant, machinery and equipment | 23 | €11,209 | €5,914 | -€5,296 | -47.2% |
| Furniture and vehicles | 24 | €5,360 | €24,382 | +€19,022 | +354.9% |
| Leasing and similar rights | 25 | €20,541 | €32,092 | +€11,551 | +56.2% |
| Current assets | 29/58 | €38,306 | €34,739 | -€3,568 | -9.3% |
| Stocks and contracts in progress | 3 | €7,934 | €9,249 | +€1,315 | +16.6% |
| Stocks | 30/36 | €7,934 | €6,964 | -€971 | -12.2% |
| Contracts in progress | 37 | €0 | €2,285 | +€2,285 | |
| Amounts receivable within one year | 40/41 | €18,558 | €16,142 | -€2,417 | -13.0% |
| Trade receivables | 40 | €18,558 | €10,642 | -€7,917 | -42.7% |
| Other amounts receivable | 41 | €0 | €5,500 | +€5,500 | |
| Cash at bank and in hand | 54/58 | €11,814 | €9,348 | -€2,466 | -20.9% |
| Total equity and liabilities | 10/49 | €592,455 | €606,065 | +€13,610 | +2.3% |
| Equity | 10/15 | €98,411 | €114,481 | +€16,070 | +16.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €96,411 | €112,481 | +€16,070 | +16.7% |
| Distributable reserves | 133 | €96,411 | €112,481 | +€16,070 | +16.7% |
| Amounts payable | 17/49 | €494,043 | €491,584 | -€2,460 | -0.5% |
| Amounts payable after more than one year | 17 | €399,527 | €392,827 | -€6,699 | -1.7% |
| Financial debts | 170/4 | €399,527 | €392,827 | -€6,699 | -1.7% |
| Amounts payable within one year | 42/48 | €94,516 | €98,727 | +€4,211 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €29,295 | €41,937 | +€12,642 | +43.2% |
| Financial debts | 43 | - | €9,000 | +€9,000 | |
| Credit institutions | 430/8 | - | €9,000 | +€9,000 | |
| Trade debts | 44 | €11,524 | €2,825 | -€8,699 | -75.5% |
| Suppliers | 440/4 | €11,524 | €2,825 | -€8,699 | -75.5% |
| Taxes, remuneration and social security | 45 | €5,505 | €5,161 | -€343 | -6.2% |
| Taxes | 450/3 | €5,505 | €5,161 | -€343 | -6.2% |
| Other amounts payable | 47/48 | €48,192 | €39,804 | -€8,389 | -17.4% |
| Accrued charges and deferred income | 492/3 | - | €29 | +€29 | |
| Non-recurring operating income | 76A | €1,175 | €0 | -€1,175 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,211 | €40,939 | +€5,728 | +16.3% |
| Other operating charges | 640/8 | €5,757 | €3,475 | -€2,283 | -39.6% |
| Non-recurring operating charges | 66A | €199 | €0 | -€199 | -100.0% |
| Gross operating margin | 9900 | €66,303 | €75,748 | +€9,445 | +14.2% |
| Operating profit (loss) | 9901 | €25,136 | €31,335 | +€6,199 | +24.7% |
| Financial income | 75/76B | €207 | €98 | -€109 | -52.6% |
| Recurring financial income | 75 | €207 | €98 | -€109 | -52.6% |
| Financial charges | 65/66B | €9,020 | €11,276 | +€2,256 | +25.0% |
| Recurring financial charges | 65 | €9,020 | €11,276 | +€2,256 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €16,323 | €20,158 | +€3,835 | +23.5% |
| Income taxes | 67/77 | €2,291 | €4,088 | +€1,797 | +78.4% |
| Profit (loss) for the period | 9904 | €14,032 | €16,070 | +€2,038 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,032 | €16,070 | +€2,038 | +14.5% |
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 26 September 2026 via checked.be.