I CRESCENDO: 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.
I CRESCENDO
Largest movements
- Cash -€8,136
down €8,136 (-12.8%), from €63,646 to €55,510
mainly Other debts (-€28,652) and Trade debts (-€2,002)
- Receivables within one year -€7,128
down €7,128 (-99.1%), from €7,191 to €63
of which Trade receivables: -€7,191
- Other debts -€28,652
down €28,652 (-100%), from €28,652 to €0
- Reserves +€14,030
up €14,030 (+29.1%), from €48,153 to €62,183
- Trade debts -€2,002
down €2,002 (-27.7%), from €7,226 to €5,224
- Tax, wage and social debts +€1,467
up €1,467 (+75.7%), from €1,938 to €3,405
- Gross operating margin -€39,469
down €39,469 (-61.8%), from €63,816 to €24,347
- Taxes -€8,772
down €8,772 (-47.9%), from €18,308 to €9,536
- Staff costs -€5,873
down €5,873, from €5,831 to -€43
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 | €89,569 | €74,412 | -€15,156 | -16.9% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €89,569 | €74,412 | -€15,156 | -16.9% |
| Amounts receivable within one year | 40/41 | €7,191 | €63 | -€7,128 | -99.1% |
| Trade receivables | 40 | €7,191 | €0 | -€7,191 | -100% |
| Other amounts receivable | 41 | - | €63 | +€63 | |
| Current investments | 50/53 | €18,523 | €18,523 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €63,646 | €55,510 | -€8,136 | -12.8% |
| Deferred charges and accrued income | 490/1 | €209 | €317 | +€108 | +51.6% |
| Total equity and liabilities | 10/49 | €89,569 | €74,412 | -€15,156 | -16.9% |
| Equity | 10/15 | €51,753 | €65,783 | +€14,030 | +27.1% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | €48,153 | €62,183 | +€14,030 | +29.1% |
| Distributable reserves | 133 | €48,153 | €62,183 | +€14,030 | +29.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €37,816 | €8,629 | -€29,187 | -77.2% |
| Amounts payable within one year | 42/48 | €37,816 | €8,629 | -€29,187 | -77.2% |
| Trade debts | 44 | €7,226 | €5,224 | -€2,002 | -27.7% |
| Suppliers | 440/4 | €7,226 | €5,224 | -€2,002 | -27.7% |
| Taxes, remuneration and social security | 45 | €1,938 | €3,405 | +€1,467 | +75.7% |
| Taxes | 450/3 | €1,938 | €3,405 | +€1,467 | +75.7% |
| Other amounts payable | 47/48 | €28,652 | €0 | -€28,652 | -100% |
| Remuneration, social security and pensions | 62 | €5,831 | -€43 | -€5,873 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €345 | €0 | -€345 | -100% |
| Other operating charges | 640/8 | €499 | €601 | +€101 | +20.3% |
| Gross operating margin | 9900 | €63,816 | €24,347 | -€39,469 | -61.8% |
| Operating profit (loss) | 9901 | €57,141 | €23,789 | -€33,352 | -58.4% |
| Financial charges | 65/66B | €402 | €223 | -€179 | -44.6% |
| Recurring financial charges | 65 | €402 | €223 | -€179 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €56,739 | €23,566 | -€33,173 | -58.5% |
| Income taxes | 67/77 | €18,308 | €9,536 | -€8,772 | -47.9% |
| Profit (loss) for the period | 9904 | €38,431 | €14,030 | -€24,401 | -63.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,431 | €14,030 | -€24,401 | -63.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.