CREST: what changed
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
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it 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% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.