Cre@MD: 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.
Cre@MD
Largest movements
- Stocks and contracts +€28,246
up €28,246 (+37.9%), from €74,452 to €102,698
- Cash +€23,392
up €23,392 (+138%), from €16,944 to €40,336
mainly Net result for the year (+€77,306) and Trade debts (+€42,642)
- Receivables within one year +€7,032
up €7,032 (+26.8%), from €26,195 to €33,227
of which Other amounts receivable: +€10,955
- Tangible fixed assets +€5,461
up €5,461 (+882%), from €619 to €6,080
of which Other tangible fixed assets: +€3,826
- Deferred charges and accrued income +€3,361
up €3,361 (+42.2%), from €7,965 to €11,326
- Reserves +€48,734
up €48,734 (+114%), from €42,710 to €91,444
- Trade debts +€42,642
up €42,642 (+164%), from €25,947 to €68,589
- Other debts -€25,656
down €25,656 (-81.7%), from €31,388 to €5,732
- Short-term financial debts +€12,500
up €12,500 (+801%), from €1,560 to €14,060
- Tax, wage and social debts -€10,104
down €10,104 (-62.7%), from €16,104 to €6,000
of which Taxes: -€10,104
- Gross operating margin +€78,089
up €78,089 (+208%), from €37,537 to €115,625
- Taxes +€20,687
up €20,687 (+291%), from €7,104 to €27,792
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 | €131,648 | €198,791 | +€67,143 | +51.0% |
| Fixed assets | 21/28 | €6,091 | €11,204 | +€5,113 | +83.9% |
| Intangible fixed assets | 21 | €5,472 | €3,774 | -€1,698 | -31.0% |
| Tangible fixed assets | 22/27 | €619 | €6,080 | +€5,461 | +882% |
| Furniture and vehicles | 24 | €619 | €2,254 | +€1,635 | +264% |
| Other tangible fixed assets | 26 | - | €3,826 | +€3,826 | |
| Financial fixed assets | 28 | - | €1,350 | +€1,350 | |
| Current assets | 29/58 | €125,557 | €187,587 | +€62,030 | +49.4% |
| Stocks and contracts in progress | 3 | €74,452 | €102,698 | +€28,246 | +37.9% |
| Stocks | 30/36 | €74,452 | €102,698 | +€28,246 | +37.9% |
| Amounts receivable within one year | 40/41 | €26,195 | €33,227 | +€7,032 | +26.8% |
| Trade receivables | 40 | €24,625 | €20,702 | -€3,923 | -15.9% |
| Other amounts receivable | 41 | €1,570 | €12,525 | +€10,955 | +698% |
| Cash at bank and in hand | 54/58 | €16,944 | €40,336 | +€23,392 | +138% |
| Deferred charges and accrued income | 490/1 | €7,965 | €11,326 | +€3,361 | +42.2% |
| Total equity and liabilities | 10/49 | €131,648 | €198,791 | +€67,143 | +51.0% |
| Equity | 10/15 | €55,010 | €103,744 | +€48,734 | +88.6% |
| Contributions | 10/11 | €12,300 | €12,300 | = | 0.0% |
| Reserves | 13 | €42,710 | €91,444 | +€48,734 | +114% |
| Distributable reserves | 133 | €42,710 | €91,444 | +€48,734 | +114% |
| Amounts payable | 17/49 | €76,638 | €95,046 | +€18,409 | +24.0% |
| Amounts payable within one year | 42/48 | €74,999 | €94,381 | +€19,381 | +25.8% |
| Financial debts | 43 | €1,560 | €14,060 | +€12,500 | +801% |
| Credit institutions | 430/8 | €1,560 | €14,060 | +€12,500 | +801% |
| Trade debts | 44 | €25,947 | €68,589 | +€42,642 | +164% |
| Suppliers | 440/4 | €25,947 | €68,589 | +€42,642 | +164% |
| Taxes, remuneration and social security | 45 | €16,104 | €6,000 | -€10,104 | -62.7% |
| Taxes | 450/3 | €13,104 | €3,000 | -€10,104 | -77.1% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €31,388 | €5,732 | -€25,656 | -81.7% |
| Accrued charges and deferred income | 492/3 | €1,638 | €666 | -€973 | -59.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,491 | €2,785 | +€294 | +11.8% |
| Other operating charges | 640/8 | €2,310 | €2,680 | +€370 | +16.0% |
| Gross operating margin | 9900 | €37,537 | €115,625 | +€78,089 | +208% |
| Operating profit (loss) | 9901 | €32,736 | €110,160 | +€77,424 | +237% |
| Financial income | 75/76B | €43 | €7 | -€36 | -82.6% |
| Recurring financial income | 75 | €43 | €7 | -€36 | -82.6% |
| Financial charges | 65/66B | €4,725 | €5,070 | +€346 | +7.3% |
| Recurring financial charges | 65 | €4,725 | €5,070 | +€346 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €28,054 | €105,097 | +€77,043 | +275% |
| Income taxes | 67/77 | €7,104 | €27,792 | +€20,687 | +291% |
| Profit (loss) for the period | 9904 | €20,950 | €77,306 | +€56,356 | +269% |
| Profit (loss) for the period to be appropriated | 9905 | €20,950 | €77,306 | +€56,356 | +269% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.