Aim For Crescendo: 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.
Aim For Crescendo
Largest movements
- Tangible fixed assets +€69,805
up €69,805 (+33.1%), from €211,036 to €280,841
of which Furniture and vehicles: +€183,254
- Cash -€16,662
down €16,662 (-53.1%), from €31,402 to €14,740
mainly Investment in fixed assets (net) (-€96,865) and Tax, wage and social debts (-€9,290)
- Debts after one year +€35,056
up €35,056 (+22.1%), from €158,563 to €193,619
- Profit (loss) carried forward +€21,287
up €21,287 (+39.6%), from €53,733 to €75,020
- Tax, wage and social debts -€9,290
down €9,290 (-91.2%), from €10,185 to €895
- Current portion of long-term debt +€7,906
up €7,906 (+28.9%), from €27,337 to €35,243
- Depreciation +€12,061
up €12,061 (+97.6%), from €12,364 to €24,425
- Taxes -€5,382
down €5,382 (-66.2%), from €8,128 to €2,746
- Financial charges +€3,882
up €3,882 (+91.4%), from €4,248 to €8,130
- Gross operating margin +€3,862
up €3,862 (+7.1%), from €54,677 to €58,539
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 | €269,095 | €323,974 | +€54,879 | +20.4% |
| Fixed assets | 21/28 | €214,426 | €286,866 | +€72,440 | +33.8% |
| Tangible fixed assets | 22/27 | €211,036 | €280,841 | +€69,805 | +33.1% |
| Plant, machinery and equipment | 23 | €79,134 | €86,440 | +€7,306 | +9.2% |
| Furniture and vehicles | 24 | €11,147 | €194,401 | +€183,254 | +1,644% |
| Assets under construction and advance payments | 27 | €120,755 | €0 | -€120,755 | -100% |
| Financial fixed assets | 28 | €3,390 | €6,025 | +€2,635 | +77.7% |
| Current assets | 29/58 | €54,669 | €37,108 | -€17,561 | -32.1% |
| Amounts receivable within one year | 40/41 | €23,267 | €20,733 | -€2,534 | -10.9% |
| Trade receivables | 40 | €22,014 | €19,345 | -€2,669 | -12.1% |
| Other amounts receivable | 41 | €1,253 | €1,389 | +€136 | +10.8% |
| Cash at bank and in hand | 54/58 | €31,402 | €14,740 | -€16,662 | -53.1% |
| Deferred charges and accrued income | 490/1 | - | €1,635 | +€1,635 | |
| Total equity and liabilities | 10/49 | €269,095 | €323,974 | +€54,879 | +20.4% |
| Equity | 10/15 | €63,733 | €85,020 | +€21,287 | +33.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,733 | €75,020 | +€21,287 | +39.6% |
| Amounts payable | 17/49 | €205,362 | €238,954 | +€33,592 | +16.4% |
| Amounts payable after more than one year | 17 | €158,563 | €193,619 | +€35,056 | +22.1% |
| Financial debts | 170/4 | €158,563 | €193,619 | +€35,056 | +22.1% |
| Amounts payable within one year | 42/48 | €46,799 | €45,335 | -€1,464 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €27,337 | €35,243 | +€7,906 | +28.9% |
| Trade debts | 44 | - | €1,006 | +€1,006 | |
| Suppliers | 440/4 | - | €1,006 | +€1,006 | |
| Taxes, remuneration and social security | 45 | €10,185 | €895 | -€9,290 | -91.2% |
| Taxes | 450/3 | €10,185 | €895 | -€9,290 | -91.2% |
| Other amounts payable | 47/48 | €9,277 | €8,192 | -€1,085 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,364 | €24,425 | +€12,061 | +97.6% |
| Other operating charges | 640/8 | €1,720 | €1,958 | +€238 | +13.8% |
| Gross operating margin | 9900 | €54,677 | €58,539 | +€3,862 | +7.1% |
| Operating profit (loss) | 9901 | €40,593 | €32,156 | -€8,437 | -20.8% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €4,248 | €8,130 | +€3,882 | +91.4% |
| Recurring financial charges | 65 | €4,248 | €8,130 | +€3,882 | +91.4% |
| Profit (loss) for the period before taxes | 9903 | €36,345 | €24,033 | -€12,312 | -33.9% |
| Income taxes | 67/77 | €8,128 | €2,746 | -€5,382 | -66.2% |
| Profit (loss) for the period | 9904 | €28,217 | €21,286 | -€6,931 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,217 | €21,286 | -€6,931 | -24.6% |
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 26 October 2026 via checked.be.