CREST: 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.
CREST
Largest movements
- Stocks and contracts +€171,204
up €171,204 (+414%), from €41,364 to €212,568
of which Contracts in progress: +€183,288
- Cash -€160,026
down €160,026 (-61.6%), from €259,913 to €99,887
mainly Stocks and contracts (-€171,204) and Receivables within one year (-€103,727)
- Receivables within one year +€103,727
up €103,727 (+78.4%), from €132,224 to €235,951
of which Other amounts receivable: +€102,237
- Deferred charges and accrued income -€12,577
down €12,577 (-60.2%), from €20,880 to €8,303
- Tangible fixed assets -€7,923
down €7,923 (-32.8%), from €24,188 to €16,265
of which Furniture and vehicles: -€7,618
- Trade debts +€140,127
up €140,127 (+187%), from €74,947 to €215,073
- Debts after one year -€75,000
down €75,000 (-100%), from €75,000 to €0
- Profit (loss) carried forward +€46,449
up €46,449 (+80.9%), from €57,380 to €103,829
- Tax, wage and social debts -€32,660
down €32,660 (-82.7%), from €39,484 to €6,824
of which Taxes: -€20,635
- Other debts +€15,229
up €15,229 (+60.8%), from €25,054 to €40,283
- Gross operating margin -€88,380
down €88,380 (-41.3%), from €213,979 to €125,599
- Staff costs -€25,046
down €25,046 (-36.8%), from €67,987 to €42,941
- Taxes -€16,158
down €16,158 (-45.8%), from €35,259 to €19,101
- Financial income +€3,729
up €3,729 (+896%), from €416 to €4,145
- Financial charges +€3,085
up €3,085 (+52.9%), from €5,835 to €8,920
of which Non-recurring financial charges: +€4,986
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 | €484,288 | €576,353 | +€92,064 | +19.0% |
| Fixed assets | 21/28 | €29,908 | €19,644 | -€10,263 | -34.3% |
| Intangible fixed assets | 21 | €4,920 | €2,579 | -€2,340 | -47.6% |
| Tangible fixed assets | 22/27 | €24,188 | €16,265 | -€7,923 | -32.8% |
| Land and buildings | 22 | €1,003 | €1,003 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,230 | €1,925 | -€305 | -13.7% |
| Furniture and vehicles | 24 | €20,955 | €13,337 | -€7,618 | -36.4% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €454,381 | €556,709 | +€102,328 | +22.5% |
| Stocks and contracts in progress | 3 | €41,364 | €212,568 | +€171,204 | +414% |
| Stocks | 30/36 | €41,364 | €29,280 | -€12,084 | -29.2% |
| Contracts in progress | 37 | - | €183,288 | +€183,288 | |
| Amounts receivable within one year | 40/41 | €132,224 | €235,951 | +€103,727 | +78.4% |
| Trade receivables | 40 | €132,224 | €133,714 | +€1,490 | +1.1% |
| Other amounts receivable | 41 | - | €102,237 | +€102,237 | |
| Cash at bank and in hand | 54/58 | €259,913 | €99,887 | -€160,026 | -61.6% |
| Deferred charges and accrued income | 490/1 | €20,880 | €8,303 | -€12,577 | -60.2% |
| Total equity and liabilities | 10/49 | €484,288 | €576,353 | +€92,064 | +19.0% |
| Equity | 10/15 | €267,152 | €313,601 | +€46,449 | +17.4% |
| Contributions | 10/11 | €187,960 | €187,960 | = | 0.0% |
| Reserves | 13 | €21,812 | €21,812 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,812 | €21,812 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,380 | €103,829 | +€46,449 | +80.9% |
| Amounts payable | 17/49 | €217,137 | €262,752 | +€45,615 | +21.0% |
| Amounts payable after more than one year | 17 | €75,000 | €0 | -€75,000 | -100% |
| Financial debts | 170/4 | €75,000 | €0 | -€75,000 | -100% |
| Amounts payable within one year | 42/48 | €140,501 | €262,181 | +€121,680 | +86.6% |
| Financial debts | 43 | €1,016 | €0 | -€1,016 | -100% |
| Credit institutions | 430/8 | €1,016 | €0 | -€1,016 | -100% |
| Trade debts | 44 | €74,947 | €215,073 | +€140,127 | +187% |
| Suppliers | 440/4 | €74,947 | €215,073 | +€140,127 | +187% |
| Taxes, remuneration and social security | 45 | €39,484 | €6,824 | -€32,660 | -82.7% |
| Taxes | 450/3 | €27,459 | €6,824 | -€20,635 | -75.1% |
| Remuneration and social security | 454/9 | €12,025 | €0 | -€12,025 | -100% |
| Other amounts payable | 47/48 | €25,054 | €40,283 | +€15,229 | +60.8% |
| Accrued charges and deferred income | 492/3 | €1,636 | €571 | -€1,065 | -65.1% |
| Non-recurring operating income | 76A | €4,525 | €0 | -€4,525 | -100% |
| Remuneration, social security and pensions | 62 | €67,987 | €42,941 | -€25,046 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,000 | €11,149 | -€851 | -7.1% |
| Other operating charges | 640/8 | €1,288 | €1,185 | -€103 | -8.0% |
| Gross operating margin | 9900 | €213,979 | €125,599 | -€88,380 | -41.3% |
| Operating profit (loss) | 9901 | €132,704 | €70,325 | -€62,380 | -47.0% |
| Financial income | 75/76B | €416 | €4,145 | +€3,729 | +896% |
| Recurring financial income | 75 | €416 | €4,145 | +€3,729 | +896% |
| Financial charges | 65/66B | €5,835 | €8,920 | +€3,085 | +52.9% |
| Recurring financial charges | 65 | €5,835 | €3,934 | -€1,901 | -32.6% |
| Non-recurring financial charges | 66B | - | €4,986 | +€4,986 | |
| Profit (loss) for the period before taxes | 9903 | €127,285 | €65,550 | -€61,735 | -48.5% |
| Income taxes | 67/77 | €35,259 | €19,101 | -€16,158 | -45.8% |
| Profit (loss) for the period | 9904 | €92,027 | €46,449 | -€45,578 | -49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €92,027 | €46,449 | -€45,578 | -49.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.