CRESCEMUS: what changed
What changed
CRESCEMUS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€348,089
2024 · €698,179-€350,089
Equity
€3.3m
2024 · €3.1m+€246,292
Cash
€2.0m
2024 · €1.8m+€174,017
Balance sheet total
€4.0m
2024 · €3.7m+€266,773
Largest movements
Assets
- Current investments -€1.0m
down €1.0m (-94.2%), from €1.1m to €64,182
- Receivables within one year +€935,351
up €935,351 (+1,235%), from €75,740 to €1.0m
of which Other amounts receivable: +€932,342
- Financial fixed assets +€200,997
up €200,997 (+859%), from €23,410 to €224,407
- Cash +€174,017
up €174,017 (+9.7%), from €1.8m to €2.0m
mainly Current investments (+€1.0m) and Net result for the year (+€348,089)
Equity and liabilities
- Reserves +€246,292
up €246,292 (+8.1%), from €3.1m to €3.3m
- Tax, wage and social debts +€42,483
up €42,483 (+90.9%), from €46,754 to €89,237
of which Taxes: +€40,240
Income statement
- Gross operating margin -€490,742
down €490,742 (-49.0%), from €1.0m to €510,791
- Taxes -€162,981
down €162,981 (-49.4%), from €329,999 to €167,018
- Financial income -€17,761
down €17,761 (-24.0%), from €74,156 to €56,396
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€698,179
Gross operating margin
-€490,742
Depreciation
-€1,086
Other operating charges
-€4,562
Financial income
-€17,761
Financial charges
+€1,080
Taxes
+€162,981
Result 2025
€348,089
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€531,072
Investment
+€841,179
Financing
-€136,090
Cash 2024
€1.8m
From operations (derived)
-€531,072
Net result for the year
+€348,089
Depreciation
+€22,743
Receivables within one year
-€935,351
Deferred charges and accrued income
-€21,328
Trade debts
+€11,842
Tax, wage and social debts
+€42,483
Accrued charges and deferred income
+€448
Investment (derived)
+€841,179
Investment in fixed assets (net)
-€202,378
Current investments
+€1.0m
Financing
-€136,090
Debts after one year
-€35,543
Current portion of long-term debt
+€1,251
Contributions, distributions and other
-€101,798
Cash 2025
€2.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,691,331 | €3,958,104 | +€266,773 | +7.2% |
| Fixed assets | 21/28 | €708,672 | €888,307 | +€179,635 | +25.3% |
| Tangible fixed assets | 22/27 | €685,262 | €663,900 | -€21,362 | -3.1% |
| Land and buildings | 22 | €673,790 | €658,184 | -€15,606 | -2.3% |
| Plant, machinery and equipment | 23 | €1,029 | €1,953 | +€923 | +89.7% |
| Furniture and vehicles | 24 | €10,443 | €3,763 | -€6,679 | -64.0% |
| Financial fixed assets | 28 | €23,410 | €224,407 | +€200,997 | +859% |
| Current assets | 29/58 | €2,982,659 | €3,069,797 | +€87,138 | +2.9% |
| Amounts receivable within one year | 40/41 | €75,740 | €1,011,090 | +€935,351 | +1,235% |
| Trade receivables | 40 | €43,863 | €46,872 | +€3,009 | +6.9% |
| Other amounts receivable | 41 | €31,877 | €964,219 | +€932,342 | +2,925% |
| Current investments | 50/53 | €1,107,740 | €64,182 | -€1.0m | -94.2% |
| Cash at bank and in hand | 54/58 | €1,793,666 | €1,967,683 | +€174,017 | +9.7% |
| Deferred charges and accrued income | 490/1 | €5,513 | €26,841 | +€21,328 | +387% |
| Total equity and liabilities | 10/49 | €3,691,331 | €3,958,104 | +€266,773 | +7.2% |
| Equity | 10/15 | €3,064,098 | €3,310,389 | +€246,292 | +8.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,051,698 | €3,297,989 | +€246,292 | +8.1% |
| Distributable reserves | 133 | €3,051,698 | €3,297,989 | +€246,292 | +8.1% |
| Amounts payable | 17/49 | €627,233 | €647,715 | +€20,482 | +3.3% |
| Amounts payable after more than one year | 17 | €541,315 | €505,771 | -€35,543 | -6.6% |
| Financial debts | 170/4 | €541,315 | €505,771 | -€35,543 | -6.6% |
| Amounts payable within one year | 42/48 | €84,518 | €140,095 | +€55,577 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €34,292 | €35,543 | +€1,251 | +3.6% |
| Trade debts | 44 | €3,473 | €15,315 | +€11,842 | +341% |
| Suppliers | 440/4 | €3,473 | €15,315 | +€11,842 | +341% |
| Taxes, remuneration and social security | 45 | €46,754 | €89,237 | +€42,483 | +90.9% |
| Taxes | 450/3 | €46,754 | €86,994 | +€40,240 | +86.1% |
| Remuneration and social security | 454/9 | - | €2,243 | +€2,243 | |
| Accrued charges and deferred income | 492/3 | €1,400 | €1,848 | +€448 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,657 | €22,743 | +€1,086 | +5.0% |
| Other operating charges | 640/8 | €790 | €5,352 | +€4,562 | +577% |
| Gross operating margin | 9900 | €1,001,532 | €510,791 | -€490,742 | -49.0% |
| Operating profit (loss) | 9901 | €979,085 | €482,696 | -€496,390 | -50.7% |
| Financial income | 75/76B | €74,156 | €56,396 | -€17,761 | -24.0% |
| Recurring financial income | 75 | €74,156 | €56,396 | -€17,761 | -24.0% |
| Financial charges | 65/66B | €25,064 | €23,984 | -€1,080 | -4.3% |
| Recurring financial charges | 65 | €25,064 | €23,984 | -€1,080 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €1,028,178 | €515,108 | -€513,070 | -49.9% |
| Income taxes | 67/77 | €329,999 | €167,018 | -€162,981 | -49.4% |
| Profit (loss) for the period | 9904 | €698,179 | €348,089 | -€350,089 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €698,179 | €348,089 | -€350,089 | -50.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.