CREAM PROJECTS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 27 filings
Turnover
≈ €330,000
Estimated: probably between €180,000 and €540,000
Total assets
€48,771▲ 118%
2024 · €22,332
Net result
€33,754▼ 51.9%
2023 · €70,219
Working capital
€33,123
2024 · -€15,022
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€34,870
2025
20192025
Net result
€33,754
2025
highest quarter of the sector
20192025
Equity
€24,249
2025
middle half of the sector
20192025
Total assets
€48,771
▲ 118%
2025
lowest quarter of the sector
20192025
Debt
€24,522
▼ 9.5%
2025
20192025
Working capital
€33,123
2025
middle half of the sector
20192025
Solvency
49.7%
▲ 71.0pp
2025
middle half of the sector
20192025
Current ratio
4.82
▲ 4.37
2025
highest quarter of the sector
20192025
Return on assets (ROA)
69.2%
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€3,230-€17,738€17,670▼ 0.4%€64,479▲ 265%€72,535▲ 12.5%€34,870
Net result-€3,288-€17,715within the sector's middle half€17,611within the sector's middle half▼ 0.6%€65,583above the sector's middle half▲ 272%€70,219above the sector's middle half▲ 7.1%€33,754above the sector's middle half
Equity-€166,858--€149,143below the sector's middle half▲ 10.6%-€131,531below the sector's middle half▲ 11.8%-€65,948below the sector's middle half▲ 49.9%€4,270within the sector's middle half-€4,761below the sector's middle half€24,249within the sector's middle half
Total assets€14,167-€18,757below the sector's middle half▲ 32.4%€33,574below the sector's middle half▲ 79.0%€43,442below the sector's middle half▲ 29.4%€58,064below the sector's middle half▲ 33.7%€22,332below the sector's middle half▼ 61.5%€48,771below the sector's middle half▲ 118%
Debt€181,025-€167,900▼ 7.3%€165,105▼ 1.7%€109,390▼ 33.7%€53,794▼ 50.8%€27,094▼ 49.6%€24,522▼ 9.5%
Working capital-€147,548--€149,390below the sector's middle half▼ 1.2%-€131,779below the sector's middle half▲ 11.8%-€65,948below the sector's middle half▲ 50.0%-€8,789within the sector's middle half▲ 86.7%-€15,022below the sector's middle half▼ 70.9%€33,123within the sector's middle half
Solvency-795.1%below the sector's middle half-391.8%below the sector's middle half▲ 403.4pp-151.8%below the sector's middle half▲ 240.0pp7.4%within the sector's middle half▲ 159.2pp-21.3%below the sector's middle half▼ 28.7pp49.7%within the sector's middle half▲ 71.0pp
Current ratio0.09-0.11below the sector's middle half▲ 0.020.20below the sector's middle half▲ 0.090.40below the sector's middle half▲ 0.200.84below the sector's middle half▲ 0.440.45below the sector's middle half▼ 0.394.82above the sector's middle half▲ 4.37
Return on assets (ROA)-23.2%-94.4%above the sector's middle half▲ 117.7pp52.5%above the sector's middle half▼ 42.0pp151.0%above the sector's middle half▲ 98.5pp120.9%above the sector's middle half▼ 30.0pp69.2%above the sector's middle half
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is €34,870, against €72,535 in 2023. Comparable figures for the intervening years are unavailable.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €48,771
Fixed assets
€6,967 ▼ 32.1%
Current assets
€41,805 ▲ 246%
Equity and liabilities €48,771
Equity
€24,249
Debt
€24,522
Debt's share of the balance-sheet total is 50.3%.
Key figures and ratios
Debt to equity
1.01
ROE
139.2%
Debt ≤ 1 year
€8,682▼
2024 · €27,094
Debt > 1 year
€15,840
Income taxes
€1,097
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Financial fixed assets | - | - | €248 | - |
| Depreciation and write-downs of the year | - | €725 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €725 | - | - | - |
| Other operating charges640/8 | - | - | - | €2,034 | €334 | - | €193 | - |
| Gross operating margin9900 | -€3,177 | €18,946 | €17,860 | €66,513 | €73,594 | - | €35,063 | - |
| Operating profit (loss)9901 | -€3,230 | €17,738 | €17,670 | €64,479 | €72,535 | - | €34,870 | - |
| Financial income75/76B | - | - | - | €1,142 | - | - | - | - |
| Recurring financial income75 | - | - | - | €1,142 | - | - | - | - |
| Financial charges65/66B | - | - | - | €38 | €2,316 | - | €19 | - |
| Recurring financial charges65 | €58 | €22 | €59 | €38 | €2,316 | - | €19 | - |
| Profit (loss) for the period before taxes9903 | -€3,288 | €17,715 | €17,611 | €65,583 | €70,219 | - | €34,851 | - |
| Income taxes67/77 | - | - | - | - | - | - | €1,097 | - |
| Profit (loss) for the period9904 | -€3,288 | €17,715 | €17,611 | €65,583 | €70,219 | - | €33,754 | - |
| Profit (loss) for the period to be appropriated9905 | -€3,288 | €17,715 | €17,611 | €65,583 | €70,219 | - | €33,754 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €14,167 | €18,757 | €33,574 | €43,442 | €58,064 | €22,332 | €48,771 | ▲ 118% |
| Fixed assets21/28 | €248 | €248 | €248 | - | €13,059 | €10,261 | €6,967 | ▼ 32.1% |
| Tangible fixed assets22/27 | - | - | - | - | €13,059 | €10,013 | €6,967 | ▼ 30.4% |
| Furniture and vehicles24 | - | - | - | - | €13,059 | €10,013 | €6,967 | ▼ 30.4% |
| Financial fixed assets28 | €248 | €248 | €248 | - | - | €248 | - | - |
| Current assets29/58 | €13,919 | €18,509 | €33,326 | €43,442 | €45,005 | €12,072 | €41,805 | ▲ 246% |
| Amounts receivable within one year40/41 | - | €10,114 | €18,723 | €5,794 | €3,663 | €3,895 | €8,639 | ▲ 122% |
| Trade receivables40 | - | - | - | €3,934 | €2,050 | €2,283 | €8,639 | ▲ 278% |
| Other amounts receivable41 | - | - | - | €1,860 | €1,614 | €1,612 | - | - |
| Cash at bank and in hand54/58 | €9,298 | €8,396 | €14,604 | €37,648 | €41,342 | €8,177 | €33,166 | ▲ 306% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €14,167 | €18,757 | €33,574 | €43,442 | €58,064 | €22,332 | €48,771 | ▲ 118% |
| Equity10/15 | -€166,858 | -€149,143 | -€131,531 | -€65,948 | €4,270 | -€4,761 | €24,249 | - |
| Contributions10/11 | €8,197 | - | - | €8,197 | €8,197 | €8,197 | €8,197 | = |
| Contributions outside capital11 | - | - | - | €8,197 | - | - | - | - |
| Other1109/19 | - | - | - | €8,197 | - | - | - | - |
| Reserves13 | €19,725 | €19,725 | €19,725 | €19,725 | €19,725 | €19,725 | €2,500 | ▼ 87.3% |
| Non-distributable reserves130/1 | - | - | - | €2,500 | €2,500 | €2,500 | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,500 | €2,500 | €2,500 | - | - |
| Tax-exempt reserves132 | - | - | - | €17,225 | €17,225 | €17,225 | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €2,500 | - |
| Profit (loss) carried forward14 | -€194,780 | -€177,065 | -€159,453 | -€93,871 | -€23,652 | -€32,684 | €13,552 | - |
| Amounts payable17/49 | €181,025 | €167,900 | €165,105 | €109,390 | €53,794 | €27,094 | €24,522 | ▼ 9.5% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €15,840 | - |
| Trade debts175 | - | - | - | - | - | - | €15,840 | - |
| Amounts payable within one year42/48 | €161,467 | €167,900 | €165,105 | €109,390 | €53,794 | €27,094 | €8,682 | ▼ 68.0% |
| Trade debts44 | - | €5,713 | €9,921 | €15,155 | €22,381 | €14,942 | - | - |
| Suppliers440/4 | - | - | - | €15,155 | €22,381 | €14,942 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,834 | €1,603 | €246 | €8,517 | ▲ 35× |
| Taxes450/3 | - | - | - | €1,834 | €1,603 | €246 | €90 | ▼ 63.5% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €8,427 | - |
| Other amounts payable47/48 | - | - | - | €92,401 | €29,810 | €11,905 | €165 | ▼ 98.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,288 | €17,715 | €17,611 | €65,583 | €70,219 | - | €33,754 | - |
| + Depreciation and write-downs630 | - | - | - | - | €725 | - | - | - |
| Operating cash flow (approximation) | -€3,288 | €17,715 | €17,611 | €65,583 | €70,944 | - | €33,754 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | €2,798 | €3,294 | ▲ 17.7% |
| Change in cash | - | -€902 | €6,208 | €23,044 | €3,694 | -€33,165 | €24,989 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as CREAM PROJECTS has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CREAM PROJECTS itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for CREAM PROJECTS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00019909 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00017960 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00011573 | |
| 30-06-2022 | micro format | 26-01-2023 | 2023-00004306 | |
| 30-06-2021 | micro format | 21-12-2021 | 2021-81100383 | |
| 30-06-2020 | micro format | 01-03-2021 | 2021-06700481 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-03600039 | |
| 30-06-2018 | micro format | 27-02-2019 | 2019-05900469 | |
| 30-06-2017 | micro format | 11-01-2018 | 2018-01000459 | |
| 30-06-2015 | abbreviated format | 11-02-2016 | 2016-04400201 |