CONCREATE: what changed
Two fiscal 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.
CONCREATE
Largest movements
- Receivables within one year +€459,173
up €459,173 (+33.2%), from €1.4m to €1.8m
of which Trade receivables: +€434,647
- Stocks and contracts -€389,483
down €389,483 (-29.7%), from €1.3m to €920,808
of which Contracts in progress: -€414,552
- Tangible fixed assets -€238,670
down €238,670 (-13.2%), from €1.8m to €1.6m
of which Leasing and similar rights: -€248,702
- Receivables after one year +€170,000
new in 2025: €170,000
- Cash -€69,259
down €69,259 (-21.1%), from €327,767 to €258,508
mainly Trade debts (-€476,922) and Receivables within one year (-€459,173)
- Trade debts -€476,922
down €476,922 (-37.9%), from €1.3m to €782,384
- Short-term financial debts +€360,000
up €360,000 (+63.2%), from €570,000 to €930,000
- Contributions +€150,000
up €150,000 (+60.0%), from €250,000 to €400,000
- Debts after one year -€127,584
down €127,584 (-8.7%), from €1.5m to €1.3m
- Tax, wage and social debts -€109,248
down €109,248 (-37.7%), from €289,700 to €180,452
of which Taxes: -€121,838
- Gross operating margin +€311,798
up €311,798 (+26.1%), from €1.2m to €1.5m
- Depreciation +€140,785
up €140,785 (+42.4%), from €331,842 to €472,627
- Staff costs +€97,814
up €97,814 (+13.8%), from €708,710 to €806,524
- Financial charges +€26,324
up €26,324 (+33.0%), from €79,679 to €106,003
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 | €4,855,567 | €4,794,208 | -€61,359 | -1.3% |
| Formation expenses | 20 | - | €425 | +€425 | |
| Fixed assets | 21/28 | €1,829,896 | €1,597,673 | -€232,223 | -12.7% |
| Intangible fixed assets | 21 | €8,658 | €5,655 | -€3,002 | -34.7% |
| Tangible fixed assets | 22/27 | €1,804,978 | €1,566,308 | -€238,670 | -13.2% |
| Plant, machinery and equipment | 23 | €234,115 | €220,367 | -€13,748 | -5.9% |
| Furniture and vehicles | 24 | €45,638 | €41,273 | -€4,365 | -9.6% |
| Leasing and similar rights | 25 | €1,519,838 | €1,271,136 | -€248,702 | -16.4% |
| Other tangible fixed assets | 26 | €5,386 | €33,530 | +€28,145 | +522.6% |
| Financial fixed assets | 28 | €16,261 | €25,710 | +€9,450 | +58.1% |
| Current assets | 29/58 | €3,025,671 | €3,196,110 | +€170,439 | +5.6% |
| Amounts receivable after more than one year | 29 | - | €170,000 | +€170,000 | |
| Trade receivables | 290 | - | €170,000 | +€170,000 | |
| Stocks and contracts in progress | 3 | €1,310,291 | €920,808 | -€389,483 | -29.7% |
| Stocks | 30/36 | €172,714 | €197,783 | +€25,069 | +14.5% |
| Contracts in progress | 37 | €1,137,577 | €723,025 | -€414,552 | -36.4% |
| Amounts receivable within one year | 40/41 | €1,382,229 | €1,841,402 | +€459,173 | +33.2% |
| Trade receivables | 40 | €1,382,229 | €1,816,876 | +€434,647 | +31.4% |
| Other amounts receivable | 41 | - | €24,526 | +€24,526 | |
| Cash at bank and in hand | 54/58 | €327,767 | €258,508 | -€69,259 | -21.1% |
| Deferred charges and accrued income | 490/1 | €5,385 | €5,393 | +€8 | +0.1% |
| Total equity and liabilities | 10/49 | €4,855,567 | €4,794,208 | -€61,359 | -1.3% |
| Equity | 10/15 | €866,264 | €1,092,920 | +€226,655 | +26.2% |
| Contributions | 10/11 | €250,000 | €400,000 | +€150,000 | +60.0% |
| Reserves | 13 | €579,575 | €616,264 | +€36,689 | +6.3% |
| Distributable reserves | 133 | €579,575 | €616,264 | +€36,689 | +6.3% |
| Profit (loss) carried forward | 14 | €36,689 | €76,655 | +€39,966 | +108.9% |
| Amounts payable | 17/49 | €3,989,303 | €3,701,289 | -€288,014 | -7.2% |
| Amounts payable after more than one year | 17 | €1,462,158 | €1,334,574 | -€127,584 | -8.7% |
| Financial debts | 170/4 | €1,462,158 | €1,334,574 | -€127,584 | -8.7% |
| Amounts payable within one year | 42/48 | €2,517,145 | €2,352,294 | -€164,850 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €368,389 | €372,219 | +€3,830 | +1.0% |
| Financial debts | 43 | €570,000 | €930,000 | +€360,000 | +63.2% |
| Credit institutions | 430/8 | €570,000 | €930,000 | +€360,000 | +63.2% |
| Trade debts | 44 | €1,259,305 | €782,384 | -€476,922 | -37.9% |
| Suppliers | 440/4 | €1,259,305 | €782,384 | -€476,922 | -37.9% |
| Taxes, remuneration and social security | 45 | €289,700 | €180,452 | -€109,248 | -37.7% |
| Taxes | 450/3 | €178,319 | €56,481 | -€121,838 | -68.3% |
| Remuneration and social security | 454/9 | €111,381 | €123,971 | +€12,590 | +11.3% |
| Other amounts payable | 47/48 | €29,750 | €87,240 | +€57,490 | +193.2% |
| Accrued charges and deferred income | 492/3 | €10,000 | €14,420 | +€4,420 | +44.2% |
| Non-recurring operating income | 76A | - | €12,875 | +€12,875 | |
| Remuneration, social security and pensions | 62 | €708,710 | €806,524 | +€97,814 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331,842 | €472,627 | +€140,785 | +42.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,150 | €18,075 | -€3,076 | -14.5% |
| Other operating charges | 640/8 | €15,788 | €21,146 | +€5,359 | +33.9% |
| Gross operating margin | 9900 | €1,194,355 | €1,506,153 | +€311,798 | +26.1% |
| Operating profit (loss) | 9901 | €116,865 | €187,781 | +€70,916 | +60.7% |
| Financial income | 75/76B | €8 | €261 | +€253 | +3252.4% |
| Recurring financial income | 75 | €8 | €261 | +€253 | +3252.4% |
| Financial charges | 65/66B | €79,679 | €106,003 | +€26,324 | +33.0% |
| Recurring financial charges | 65 | €79,679 | €106,003 | +€26,324 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €37,194 | €82,039 | +€44,845 | +120.6% |
| Income taxes | 67/77 | €504 | €5,383 | +€4,879 | +967.4% |
| Profit (loss) for the period | 9904 | €36,689 | €76,655 | +€39,966 | +108.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,689 | €76,655 | +€39,966 | +108.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.