CREA: 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.
CREA
Largest movements
- Tangible fixed assets +€333,645
up €333,645 (+77.1%), from €433,009 to €766,654
of which Land and buildings: +€331,001
- Receivables within one year +€8,346
up €8,346 (+211.5%), from €3,947 to €12,294
of which Other amounts receivable: +€9,889
- Debts after one year +€216,516
up €216,516 (+2359.7%), from €9,176 to €225,692
- Other debts +€88,933
up €88,933 (+142.6%), from €62,359 to €151,293
- Current portion of long-term debt +€41,723
up €41,723 (+499.6%), from €8,352 to €50,076
- Other operating charges +€40,649
up €40,649 (+389.4%), from €10,439 to €51,089
- Taxes -€13,472
down €13,472 (-99.1%), from €13,599 to €128
- Gross operating margin +€929
up €929 (+1.3%), from €72,510 to €73,440
- Depreciation +€888
up €888 (+7.2%), from €12,367 to €13,254
- Financial charges +€770
up €770 (+13.6%), from €5,679 to €6,449
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 | €450,724 | €796,176 | +€345,452 | +76.6% |
| Fixed assets | 21/28 | €433,009 | €766,654 | +€333,645 | +77.1% |
| Tangible fixed assets | 22/27 | €433,009 | €766,654 | +€333,645 | +77.1% |
| Land and buildings | 22 | €426,945 | €757,946 | +€331,001 | +77.5% |
| Plant, machinery and equipment | 23 | €2,990 | €6,320 | +€3,330 | +111.4% |
| Furniture and vehicles | 24 | €3,074 | €2,388 | -€686 | -22.3% |
| Current assets | 29/58 | €17,715 | €29,522 | +€11,807 | +66.6% |
| Amounts receivable within one year | 40/41 | €3,947 | €12,294 | +€8,346 | +211.5% |
| Trade receivables | 40 | €1,542 | - | -€1,542 | |
| Other amounts receivable | 41 | €2,405 | €12,294 | +€9,889 | +411.2% |
| Cash at bank and in hand | 54/58 | €13,768 | €14,512 | +€744 | +5.4% |
| Deferred charges and accrued income | 490/1 | - | €2,716 | +€2,716 | |
| Total equity and liabilities | 10/49 | €450,724 | €796,176 | +€345,452 | +76.6% |
| Equity | 10/15 | €359,752 | €360,318 | +€566 | +0.2% |
| Contributions | 10/11 | €235,499 | €235,499 | = | 0.0% |
| Capital | 10 | €235,499 | €235,499 | = | 0.0% |
| Issued capital | 100 | €235,499 | €235,499 | = | 0.0% |
| Reserves | 13 | €103,566 | €103,666 | +€100 | +0.1% |
| Non-distributable reserves | 130/1 | €11,150 | €11,250 | +€100 | +0.9% |
| Legal reserve | 130 | €11,150 | €11,250 | +€100 | +0.9% |
| Distributable reserves | 133 | €92,417 | €92,417 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,686 | €21,152 | +€466 | +2.3% |
| Amounts payable | 17/49 | €90,973 | €435,859 | +€344,886 | +379.1% |
| Amounts payable after more than one year | 17 | €9,176 | €225,692 | +€216,516 | +2359.7% |
| Financial debts | 170/4 | €9,176 | €225,692 | +€216,516 | +2359.7% |
| Amounts payable within one year | 42/48 | €74,054 | €203,978 | +€129,925 | +175.4% |
| Current portion of amounts payable after more than one year | 42 | €8,352 | €50,076 | +€41,723 | +499.6% |
| Trade debts | 44 | €118 | €260 | +€143 | +121.3% |
| Suppliers | 440/4 | €118 | €260 | +€143 | +121.3% |
| Taxes, remuneration and social security | 45 | €3,225 | €2,350 | -€875 | -27.1% |
| Taxes | 450/3 | €1,925 | €1,050 | -€875 | -45.4% |
| Remuneration and social security | 454/9 | €1,300 | €1,300 | = | 0.0% |
| Other amounts payable | 47/48 | €62,359 | €151,293 | +€88,933 | +142.6% |
| Accrued charges and deferred income | 492/3 | €7,743 | €6,188 | -€1,555 | -20.1% |
| Remuneration, social security and pensions | 62 | €2,016 | €2,008 | -€8 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,367 | €13,254 | +€888 | +7.2% |
| Other operating charges | 640/8 | €10,439 | €51,089 | +€40,649 | +389.4% |
| Gross operating margin | 9900 | €72,510 | €73,440 | +€929 | +1.3% |
| Operating profit (loss) | 9901 | €47,688 | €7,089 | -€40,600 | -85.1% |
| Financial income | 75/76B | €134 | €54 | -€80 | -59.7% |
| Recurring financial income | 75 | €134 | €54 | -€80 | -59.7% |
| Financial charges | 65/66B | €5,679 | €6,449 | +€770 | +13.6% |
| Recurring financial charges | 65 | €5,679 | €6,449 | +€770 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €42,144 | €693 | -€41,450 | -98.4% |
| Income taxes | 67/77 | €13,599 | €128 | -€13,472 | -99.1% |
| Profit (loss) for the period | 9904 | €28,544 | €566 | -€27,978 | -98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,544 | €566 | -€27,978 | -98.0% |
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 5 October 2026 via checked.be.