CRESUS: 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.
CRESUS
Largest movements
- Receivables within one year +€707,849
up €707,849 (+120.8%), from €586,096 to €1.3m
of which Other amounts receivable: +€721,136
- Cash +€176,177
up €176,177 (+79.4%), from €221,784 to €397,961
mainly Other debts (+€625,041) and Debts after one year (+€120,000)
- Stocks and contracts -€76,758
down €76,758 (-59.5%), from €128,900 to €52,142
- Tangible fixed assets -€18,461
down €18,461 (-37.2%), from €49,659 to €31,199
of which Plant, machinery and equipment: -€11,848
- Other debts +€625,041
new in 2025: €625,041
- Reserves +€214,530
up €214,530 (+48.9%), from €438,522 to €653,053
of which Distributable reserves: +€214,530
- Trade debts -€177,011
down €177,011 (-52.1%), from €339,522 to €162,512
- Debts after one year +€120,000
new in 2025: €120,000
- Profit (loss) carried forward -€117,492
down €117,492 (-100.0%), from €117,492 to €0
- Gross operating margin +€118,085
up €118,085 (+71.9%), from €164,266 to €282,351
- Financial charges +€39,020
up €39,020, from -€491 to €38,529
- Taxes +€22,965
up €22,965 (+95.1%), from €24,157 to €47,122
- Other operating charges +€9,610
up €9,610 (+392.5%), from €2,448 to €12,058
- Financial income +€7,893
up €7,893 (+34.5%), from €22,900 to €30,794
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 | €986,439 | €1,776,350 | +€789,910 | +80.1% |
| Fixed assets | 21/28 | €49,659 | €31,199 | -€18,461 | -37.2% |
| Tangible fixed assets | 22/27 | €49,659 | €31,199 | -€18,461 | -37.2% |
| Plant, machinery and equipment | 23 | €34,290 | €22,441 | -€11,848 | -34.6% |
| Furniture and vehicles | 24 | €14,407 | €8,256 | -€6,151 | -42.7% |
| Other tangible fixed assets | 26 | €963 | €501 | -€462 | -48.0% |
| Current assets | 29/58 | €936,780 | €1,745,151 | +€808,371 | +86.3% |
| Stocks and contracts in progress | 3 | €128,900 | €52,142 | -€76,758 | -59.5% |
| Stocks | 30/36 | €128,900 | €52,142 | -€76,758 | -59.5% |
| Amounts receivable within one year | 40/41 | €586,096 | €1,293,945 | +€707,849 | +120.8% |
| Trade receivables | 40 | €32,239 | €18,952 | -€13,287 | -41.2% |
| Other amounts receivable | 41 | €553,857 | €1,274,993 | +€721,136 | +130.2% |
| Cash at bank and in hand | 54/58 | €221,784 | €397,961 | +€176,177 | +79.4% |
| Deferred charges and accrued income | 490/1 | - | €1,103 | +€1,103 | |
| Total equity and liabilities | 10/49 | €986,439 | €1,776,350 | +€789,910 | +80.1% |
| Equity | 10/15 | €635,088 | €732,126 | +€97,038 | +15.3% |
| Contributions | 10/11 | €79,074 | €79,074 | = | 0.0% |
| Reserves | 13 | €438,522 | €653,053 | +€214,530 | +48.9% |
| Non-distributable reserves | 130/1 | €7,907 | €7,907 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,907 | €7,907 | = | 0.0% |
| Distributable reserves | 133 | €430,615 | €645,145 | +€214,530 | +49.8% |
| Profit (loss) carried forward | 14 | €117,492 | €0 | -€117,492 | -100.0% |
| Amounts payable | 17/49 | €351,351 | €1,044,223 | +€692,872 | +197.2% |
| Amounts payable after more than one year | 17 | - | €120,000 | +€120,000 | |
| Other amounts payable | 178/9 | - | €120,000 | +€120,000 | |
| Amounts payable within one year | 42/48 | €351,351 | €886,113 | +€534,762 | +152.2% |
| Trade debts | 44 | €339,522 | €162,512 | -€177,011 | -52.1% |
| Suppliers | 440/4 | €339,522 | €162,512 | -€177,011 | -52.1% |
| Advances received on contracts in progress | 46 | - | €78,219 | +€78,219 | |
| Taxes, remuneration and social security | 45 | €11,829 | €20,342 | +€8,513 | +72.0% |
| Taxes | 450/3 | €2,136 | €9,704 | +€7,568 | +354.3% |
| Remuneration and social security | 454/9 | €9,693 | €10,638 | +€946 | +9.8% |
| Other amounts payable | 47/48 | - | €625,041 | +€625,041 | |
| Accrued charges and deferred income | 492/3 | - | €38,110 | +€38,110 | |
| Remuneration, social security and pensions | 62 | €63,422 | €60,296 | -€3,126 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,531 | €27,355 | -€1,176 | -4.1% |
| Other operating charges | 640/8 | €2,448 | €12,058 | +€9,610 | +392.5% |
| Non-recurring operating charges | 66A | - | €30,747 | +€30,747 | |
| Gross operating margin | 9900 | €164,266 | €282,351 | +€118,085 | +71.9% |
| Operating profit (loss) | 9901 | €69,865 | €151,896 | +€82,031 | +117.4% |
| Financial income | 75/76B | €22,900 | €30,794 | +€7,893 | +34.5% |
| Recurring financial income | 75 | €22,900 | €30,794 | +€7,893 | +34.5% |
| Financial charges | 65/66B | -€491 | €38,529 | +€39,020 | |
| Recurring financial charges | 65 | -€491 | €38,529 | +€39,020 | |
| Profit (loss) for the period before taxes | 9903 | €93,256 | €144,160 | +€50,904 | +54.6% |
| Income taxes | 67/77 | €24,157 | €47,122 | +€22,965 | +95.1% |
| Profit (loss) for the period | 9904 | €69,099 | €97,038 | +€27,939 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,099 | €97,038 | +€27,939 | +40.4% |
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 12 October 2026 via checked.be.