CRESCENDA: 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.
CRESCENDA
Largest movements
- Tangible fixed assets -€16,302
down €16,302 (-40.9%), from €39,850 to €23,548
- Receivables within one year -€14,705
down €14,705 (-56.3%), from €26,124 to €11,418
of which Trade receivables: -€11,365
- Other debts -€55,437
down €55,437 (-7.8%), from €714,737 to €659,300
- Profit (loss) carried forward +€21,916
up €21,916 (+3.0%), from -€728,290 to -€706,374
- Tax, wage and social debts +€3,762
up €3,762 (+6,046%), from €62 to €3,824
- Accrued charges and deferred income -€749
down €749 (-97.2%), from €770 to €21
- Trade debts -€679
down €679 (-23.6%), from €2,877 to €2,197
- Gross operating margin +€60,081
up €60,081 (+178%), from €33,760 to €93,841
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 | €67,156 | €35,969 | -€31,187 | -46.4% |
| Fixed assets | 21/28 | €39,850 | €23,548 | -€16,302 | -40.9% |
| Tangible fixed assets | 22/27 | €39,850 | €23,548 | -€16,302 | -40.9% |
| Furniture and vehicles | 24 | €39,850 | €23,548 | -€16,302 | -40.9% |
| Current assets | 29/58 | €27,305 | €12,420 | -€14,885 | -54.5% |
| Amounts receivable within one year | 40/41 | €26,124 | €11,418 | -€14,705 | -56.3% |
| Trade receivables | 40 | €22,783 | €11,418 | -€11,365 | -49.9% |
| Other amounts receivable | 41 | €3,341 | - | -€3,341 | |
| Cash at bank and in hand | 54/58 | €1,182 | €1,002 | -€180 | -15.2% |
| Total equity and liabilities | 10/49 | €67,156 | €35,969 | -€31,187 | -46.4% |
| Equity | 10/15 | -€651,290 | -€629,374 | +€21,916 | +3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€728,290 | -€706,374 | +€21,916 | +3.0% |
| Amounts payable | 17/49 | €718,446 | €665,343 | -€53,103 | -7.4% |
| Amounts payable within one year | 42/48 | €717,676 | €665,321 | -€52,355 | -7.3% |
| Trade debts | 44 | €2,877 | €2,197 | -€679 | -23.6% |
| Suppliers | 440/4 | €2,877 | €2,197 | -€679 | -23.6% |
| Taxes, remuneration and social security | 45 | €62 | €3,824 | +€3,762 | +6,046% |
| Taxes | 450/3 | €62 | €3,824 | +€3,762 | +6,046% |
| Other amounts payable | 47/48 | €714,737 | €659,300 | -€55,437 | -7.8% |
| Accrued charges and deferred income | 492/3 | €770 | €21 | -€749 | -97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,302 | €16,302 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €33,760 | €93,841 | +€60,081 | +178% |
| Operating profit (loss) | 9901 | €17,070 | €77,139 | +€60,069 | +352% |
| Financial charges | 65/66B | €54,598 | €55,059 | +€461 | +0.8% |
| Recurring financial charges | 65 | €54,598 | €55,059 | +€461 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,528 | €22,080 | +€59,607 | |
| Income taxes | 67/77 | €62 | €164 | +€102 | +163% |
| Profit (loss) for the period | 9904 | -€37,590 | €21,916 | +€59,506 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,590 | €21,916 | +€59,506 |
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 31 October 2026 via checked.be.