CRESPI: 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.
CRESPI
Largest movements
- Financial fixed assets +€2.5m
up €2.5m (+21.4%), from €11.5m to €14.0m
- Cash -€1.2m
down €1.2m (-97.6%), from €1.3m to €30,304
mainly Investment in fixed assets (net) (-€2.5m) and Contributions, distributions and other (-€82,400)
- Reserves +€706,300
up €706,300 (+7.1%), from €9.9m to €10.6m
- Other debts +€545,402
up €545,402 (+3,091%), from €17,647 to €563,050
- Financial income -€504,155
down €504,155 (-41.1%), from €1.2m to €721,278
- Gross operating margin +€62,871
up €62,871 (+40.7%), from €154,344 to €217,215
- Taxes -€51,510
down €51,510 (-31.6%), from €163,164 to €111,654
- Financial charges +€18,227
up €18,227 (+359%), from €5,081 to €23,308
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 | €12,896,219 | €14,120,703 | +€1.2m | +9.5% |
| Fixed assets | 21/28 | €11,543,272 | €14,020,241 | +€2.5m | +21.5% |
| Tangible fixed assets | 22/27 | €19,333 | €26,294 | +€6,960 | +36.0% |
| Furniture and vehicles | 24 | €12,367 | €22,811 | +€10,443 | +84.4% |
| Other tangible fixed assets | 26 | €6,966 | €3,483 | -€3,483 | -50.0% |
| Financial fixed assets | 28 | €11,523,939 | €13,993,947 | +€2.5m | +21.4% |
| Current assets | 29/58 | €1,352,946 | €100,462 | -€1.3m | -92.6% |
| Amounts receivable within one year | 40/41 | €83,020 | €56,189 | -€26,831 | -32.3% |
| Trade receivables | 40 | €76,046 | €51,335 | -€24,711 | -32.5% |
| Other amounts receivable | 41 | €6,974 | €4,854 | -€2,120 | -30.4% |
| Cash at bank and in hand | 54/58 | €1,250,977 | €30,304 | -€1.2m | -97.6% |
| Deferred charges and accrued income | 490/1 | €18,949 | €13,969 | -€4,980 | -26.3% |
| Total equity and liabilities | 10/49 | €12,896,219 | €14,120,703 | +€1.2m | +9.5% |
| Equity | 10/15 | €12,482,703 | €13,189,130 | +€706,427 | +5.7% |
| Contributions | 10/11 | €19,200 | €19,200 | = | 0.0% |
| Revaluation surpluses | 12 | €907,867 | €907,867 | = | 0.0% |
| Reserves | 13 | €9,906,330 | €10,612,630 | +€706,300 | +7.1% |
| Distributable reserves | 133 | €9,906,330 | €10,612,630 | +€706,300 | +7.1% |
| Profit (loss) carried forward | 14 | €1,649,306 | €1,649,433 | +€127 | 0.0% |
| Amounts payable | 17/49 | €413,516 | €931,573 | +€518,057 | +125% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Other amounts payable | 178/9 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €160,479 | €654,727 | +€494,248 | +308% |
| Trade debts | 44 | €16,080 | €6,201 | -€9,878 | -61.4% |
| Suppliers | 440/4 | €16,080 | €6,201 | -€9,878 | -61.4% |
| Taxes, remuneration and social security | 45 | €126,752 | €85,476 | -€41,276 | -32.6% |
| Taxes | 450/3 | €126,752 | €85,476 | -€41,276 | -32.6% |
| Other amounts payable | 47/48 | €17,647 | €563,050 | +€545,402 | +3,091% |
| Accrued charges and deferred income | 492/3 | €3,036 | €26,846 | +€23,809 | +784% |
| Non-recurring operating income | 76A | - | €1,277 | +€1,277 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,641 | €13,074 | -€1,567 | -10.7% |
| Other operating charges | 640/8 | €1,363 | €1,629 | +€265 | +19.5% |
| Non-recurring operating charges | 66A | €2,040 | - | -€2,040 | |
| Gross operating margin | 9900 | €154,344 | €217,215 | +€62,871 | +40.7% |
| Operating profit (loss) | 9901 | €136,300 | €202,512 | +€66,212 | +48.6% |
| Financial income | 75/76B | €1,225,433 | €721,278 | -€504,155 | -41.1% |
| Recurring financial income | 75 | €1,225,433 | €721,278 | -€504,155 | -41.1% |
| Financial charges | 65/66B | €5,081 | €23,308 | +€18,227 | +359% |
| Recurring financial charges | 65 | €5,081 | €23,308 | +€18,227 | +359% |
| Profit (loss) for the period before taxes | 9903 | €1,356,651 | €900,482 | -€456,170 | -33.6% |
| Income taxes | 67/77 | €163,164 | €111,654 | -€51,510 | -31.6% |
| Profit (loss) for the period | 9904 | €1,193,487 | €788,827 | -€404,660 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,193,487 | €788,827 | -€404,660 | -33.9% |
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.