CREASCENDO: 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.
CREASCENDO
Largest movements
- Cash -€80,972
down €80,972 (-37.4%), from €216,385 to €135,413
mainly Other debts (-€97,849) and Contributions, distributions and other (-€17,500)
- Receivables within one year -€13,265
down €13,265 (-53.7%), from €24,691 to €11,426
of which Trade receivables: -€14,160
- Other debts -€97,849
no longer reported in 2025 (was €97,849)
- Trade debts -€11,610
down €11,610 (-63.9%), from €18,157 to €6,547
- Tax, wage and social debts +€8,030
up €8,030 (+35.3%), from €22,766 to €30,796
- Accrued charges and deferred income +€6,194
new in 2025: €6,194
- Gross operating margin -€53,887
down €53,887 (-34.1%), from €158,112 to €104,225
- Financial charges +€18,923
up €18,923 (+32.2%), from €58,805 to €77,728
- Taxes -€14,386
down €14,386 (-70.9%), from €20,284 to €5,898
- Provisions +€7,957
up €7,957 (+97.8%), from -€8,138 to -€181
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 | €254,838 | €159,713 | -€95,125 | -37.3% |
| Fixed assets | 21/28 | €6,289 | €4,073 | -€2,216 | -35.2% |
| Tangible fixed assets | 22/27 | €6,289 | €4,073 | -€2,216 | -35.2% |
| Furniture and vehicles | 24 | €4,085 | €2,647 | -€1,438 | -35.2% |
| Other tangible fixed assets | 26 | €2,204 | €1,426 | -€778 | -35.3% |
| Current assets | 29/58 | €248,549 | €155,640 | -€92,910 | -37.4% |
| Amounts receivable within one year | 40/41 | €24,691 | €11,426 | -€13,265 | -53.7% |
| Trade receivables | 40 | €17,335 | €3,176 | -€14,160 | -81.7% |
| Other amounts receivable | 41 | €7,356 | €8,251 | +€895 | +12.2% |
| Cash at bank and in hand | 54/58 | €216,385 | €135,413 | -€80,972 | -37.4% |
| Deferred charges and accrued income | 490/1 | €7,473 | €8,800 | +€1,327 | +17.8% |
| Total equity and liabilities | 10/49 | €254,838 | €159,713 | -€95,125 | -37.3% |
| Equity | 10/15 | €54,571 | €54,861 | +€291 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,111 | €34,401 | +€291 | +0.9% |
| Provisions and deferred taxes | 16 | €61,495 | €61,314 | -€181 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €61,495 | €61,314 | -€181 | -0.3% |
| Other liabilities and charges | 164/5 | €61,495 | €61,314 | -€181 | -0.3% |
| Amounts payable | 17/49 | €138,772 | €43,537 | -€95,235 | -68.6% |
| Amounts payable within one year | 42/48 | €138,772 | €37,343 | -€101,430 | -73.1% |
| Trade debts | 44 | €18,157 | €6,547 | -€11,610 | -63.9% |
| Suppliers | 440/4 | €18,157 | €6,547 | -€11,610 | -63.9% |
| Taxes, remuneration and social security | 45 | €22,766 | €30,796 | +€8,030 | +35.3% |
| Taxes | 450/3 | €22,766 | €30,796 | +€8,030 | +35.3% |
| Other amounts payable | 47/48 | €97,849 | - | -€97,849 | |
| Accrued charges and deferred income | 492/3 | - | €6,194 | +€6,194 | |
| Remuneration, social security and pensions | 62 | €861 | - | -€861 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,794 | €2,216 | +€422 | +23.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,138 | -€181 | +€7,957 | +97.8% |
| Other operating charges | 640/8 | €1,022 | €1,289 | +€266 | +26.1% |
| Gross operating margin | 9900 | €158,112 | €104,225 | -€53,887 | -34.1% |
| Operating profit (loss) | 9901 | €162,572 | €100,901 | -€61,671 | -37.9% |
| Financial income | 75/76B | €0 | €515 | +€515 | +367,929% |
| Recurring financial income | 75 | €0 | €515 | +€515 | +367,929% |
| Financial charges | 65/66B | €58,805 | €77,728 | +€18,923 | +32.2% |
| Recurring financial charges | 65 | €58,805 | €77,728 | +€18,923 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | €103,768 | €23,688 | -€80,079 | -77.2% |
| Income taxes | 67/77 | €20,284 | €5,898 | -€14,386 | -70.9% |
| Profit (loss) for the period | 9904 | €83,484 | €17,791 | -€65,693 | -78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,484 | €17,791 | -€65,693 | -78.7% |
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.