CRESCENDO: 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.
CRESCENDO
Largest movements
- Cash +€64,804
up €64,804 (+37.4%), from €173,087 to €237,891
mainly Depreciation (+€60,494) and Net result for the year (+€55,404)
- Tangible fixed assets -€35,560
down €35,560 (-2.3%), from €1.5m to €1.5m
of which Land and buildings: -€33,838
- Profit (loss) carried forward +€70,140
up €70,140 (+7.8%), from -€902,516 to -€832,376
- Other debts -€20,140
down €20,140 (-8.6%), from €234,797 to €214,657
- Purchases and services -€20,256
down €20,256 (-24.2%), from €83,875 to €63,619
- Other operating charges +€18,140
up €18,140 (+1889.1%), from €960 to €19,100
- Turnover +€12,216
up €12,216 (+5.6%), from €217,641 to €229,857
- Gross operating margin +€4,027
up €4,027 (+2.5%), from €162,211 to €166,238
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 | €1,754,756 | €1,785,608 | +€30,852 | +1.8% |
| Formation expenses | 20 | €161 | €161 | = | 0.0% |
| Fixed assets | 21/28 | €1,541,500 | €1,505,941 | -€35,560 | -2.3% |
| Tangible fixed assets | 22/27 | €1,540,457 | €1,504,897 | -€35,560 | -2.3% |
| Land and buildings | 22 | €1,382,627 | €1,348,788 | -€33,838 | -2.4% |
| Plant, machinery and equipment | 23 | €149,241 | €146,779 | -€2,462 | -1.6% |
| Furniture and vehicles | 24 | €8,590 | €9,330 | +€740 | +8.6% |
| Financial fixed assets | 28 | €1,043 | €1,043 | = | 0.0% |
| Current assets | 29/58 | €213,095 | €279,506 | +€66,412 | +31.2% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €1,608 | +€1,608 | |
| Other amounts receivable | 41 | - | €1,608 | +€1,608 | |
| Current investments | 50/53 | €7 | €7 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €173,087 | €237,891 | +€64,804 | +37.4% |
| Total equity and liabilities | 10/49 | €1,754,756 | €1,785,608 | +€30,852 | +1.8% |
| Equity | 10/15 | €459,207 | €514,611 | +€55,404 | +12.1% |
| Contributions | 10/11 | €482,401 | €482,401 | = | 0.0% |
| Capital | 10 | €482,401 | €482,401 | = | 0.0% |
| Issued capital | 100 | €482,401 | €482,401 | = | 0.0% |
| Revaluation surpluses | 12 | €561,766 | €561,766 | = | 0.0% |
| Reserves | 13 | €317,557 | €302,821 | -€14,736 | -4.6% |
| Non-distributable reserves | 130/1 | €8,087 | €8,087 | = | 0.0% |
| Legal reserve | 130 | €8,087 | €8,087 | = | 0.0% |
| Tax-exempt reserves | 132 | €309,470 | €294,735 | -€14,736 | -4.8% |
| Profit (loss) carried forward | 14 | -€902,516 | -€832,376 | +€70,140 | +7.8% |
| Provisions and deferred taxes | 16 | €135,653 | €129,193 | -€6,459 | -4.8% |
| Deferred taxes | 168 | €135,653 | €129,193 | -€6,459 | -4.8% |
| Amounts payable | 17/49 | €1,159,896 | €1,141,804 | -€18,093 | -1.6% |
| Amounts payable after more than one year | 17 | €923,525 | €923,525 | = | 0.0% |
| Financial debts | 170/4 | €923,525 | €923,525 | = | 0.0% |
| Amounts payable within one year | 42/48 | €234,797 | €214,657 | -€20,140 | -8.6% |
| Other amounts payable | 47/48 | €234,797 | €214,657 | -€20,140 | -8.6% |
| Accrued charges and deferred income | 492/3 | €1,574 | €3,621 | +€2,047 | +130.1% |
| Turnover | 70 | €217,641 | €229,857 | +€12,216 | +5.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €83,875 | €63,619 | -€20,256 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,559 | €60,494 | +€935 | +1.6% |
| Other operating charges | 640/8 | €960 | €19,100 | +€18,140 | +1889.1% |
| Gross operating margin | 9900 | €162,211 | €166,238 | +€4,027 | +2.5% |
| Operating profit (loss) | 9901 | €101,692 | €86,644 | -€15,048 | -14.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €37,666 | €37,699 | +€33 | +0.1% |
| Recurring financial charges | 65 | €37,666 | €37,699 | +€33 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €64,027 | €48,945 | -€15,082 | -23.6% |
| Transfer from deferred taxes | 780 | €6,459 | €6,459 | = | 0.0% |
| Profit (loss) for the period | 9904 | €70,486 | €55,404 | -€15,082 | -21.4% |
| Transfer from tax-exempt reserves | 789 | €14,736 | €14,736 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €85,222 | €70,140 | -€15,082 | -17.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.