CREA CONSTRUCT: 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 CONSTRUCT
Largest movements
- Stocks and contracts +€384,423
up €384,423 (+43.3%), from €888,334 to €1.3m
of which Stocks: +€192,666
- Tangible fixed assets +€343,110
up €343,110 (+88.3%), from €388,667 to €731,777
of which Leasing and similar rights: +€402,462
- Receivables within one year +€157,460
up €157,460 (+10.0%), from €1.6m to €1.7m
of which Trade receivables: +€143,344
- Cash -€60,175
down €60,175 (-6.1%), from €981,696 to €921,521
mainly Investment in fixed assets (net) (-€495,472) and Stocks and contracts (-€384,423)
- Deferred charges and accrued income +€49,465
up €49,465 (+291.3%), from €16,981 to €66,446
- Current portion of long-term debt +€478,113
up €478,113 (+3615.0%), from €13,226 to €491,339
- Debts after one year +€262,982
up €262,982 (+517.7%), from €50,801 to €313,782
- Advances received +€194,499
up €194,499 (+95.3%), from €203,991 to €398,489
- Other debts +€115,600
up €115,600 (+27.5%), from €420,000 to €535,600
- Trade debts -€112,882
down €112,882 (-10.2%), from €1.1m to €997,947
- Staff costs +€431,627
up €431,627 (+22.5%), from €1.9m to €2.4m
- Write-downs +€382,664
new in 2025: €382,664
- Gross operating margin +€300,780
up €300,780 (+10.1%), from €3.0m to €3.3m
- Taxes -€193,195
down €193,195 (-94.3%), from €204,859 to €11,664
- Depreciation +€74,123
up €74,123 (+86.6%), from €85,599 to €159,721
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 | €3,864,903 | €4,731,827 | +€866,924 | +22.4% |
| Fixed assets | 21/28 | €396,146 | €731,897 | +€335,751 | +84.8% |
| Tangible fixed assets | 22/27 | €388,667 | €731,777 | +€343,110 | +88.3% |
| Land and buildings | 22 | €137,679 | €96,233 | -€41,447 | -30.1% |
| Plant, machinery and equipment | 23 | €142,118 | €152,775 | +€10,657 | +7.5% |
| Furniture and vehicles | 24 | €108,870 | €80,308 | -€28,562 | -26.2% |
| Leasing and similar rights | 25 | - | €402,462 | +€402,462 | |
| Financial fixed assets | 28 | €7,479 | €120 | -€7,359 | -98.4% |
| Current assets | 29/58 | €3,468,757 | €3,999,930 | +€531,173 | +15.3% |
| Stocks and contracts in progress | 3 | €888,334 | €1,272,757 | +€384,423 | +43.3% |
| Stocks | 30/36 | €888,334 | €1,081,000 | +€192,666 | +21.7% |
| Contracts in progress | 37 | - | €191,757 | +€191,757 | |
| Amounts receivable within one year | 40/41 | €1,581,746 | €1,739,206 | +€157,460 | +10.0% |
| Trade receivables | 40 | €1,368,973 | €1,512,317 | +€143,344 | +10.5% |
| Other amounts receivable | 41 | €212,773 | €226,890 | +€14,116 | +6.6% |
| Cash at bank and in hand | 54/58 | €981,696 | €921,521 | -€60,175 | -6.1% |
| Deferred charges and accrued income | 490/1 | €16,981 | €66,446 | +€49,465 | +291.3% |
| Total equity and liabilities | 10/49 | €3,864,903 | €4,731,827 | +€866,924 | +22.4% |
| Equity | 10/15 | €1,715,312 | €1,715,326 | +€14 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,696,712 | €1,696,726 | +€14 | 0.0% |
| Tax-exempt reserves | 132 | €247 | €122 | -€125 | -50.7% |
| Distributable reserves | 133 | €1,696,465 | €1,696,604 | +€139 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €82 | €41 | -€42 | -50.7% |
| Deferred taxes | 168 | €82 | €41 | -€42 | -50.7% |
| Amounts payable | 17/49 | €2,149,509 | €3,016,461 | +€866,952 | +40.3% |
| Amounts payable after more than one year | 17 | €50,801 | €313,782 | +€262,982 | +517.7% |
| Financial debts | 170/4 | €50,801 | €313,782 | +€262,982 | +517.7% |
| Amounts payable within one year | 42/48 | €2,098,672 | €2,701,532 | +€602,859 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €13,226 | €491,339 | +€478,113 | +3615.0% |
| Trade debts | 44 | €1,110,829 | €997,947 | -€112,882 | -10.2% |
| Suppliers | 440/4 | €1,110,829 | €997,947 | -€112,882 | -10.2% |
| Advances received on contracts in progress | 46 | €203,991 | €398,489 | +€194,499 | +95.3% |
| Taxes, remuneration and social security | 45 | €350,627 | €278,156 | -€72,470 | -20.7% |
| Taxes | 450/3 | €86,480 | €11,650 | -€74,831 | -86.5% |
| Remuneration and social security | 454/9 | €264,146 | €266,506 | +€2,360 | +0.9% |
| Other amounts payable | 47/48 | €420,000 | €535,600 | +€115,600 | +27.5% |
| Accrued charges and deferred income | 492/3 | €36 | €1,147 | +€1,111 | +3085.3% |
| Non-recurring operating income | 76A | €0 | €14,647 | +€14,647 | |
| Remuneration, social security and pensions | 62 | €1,920,444 | €2,352,072 | +€431,627 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,599 | €159,721 | +€74,123 | +86.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €382,664 | +€382,664 | |
| Other operating charges | 640/8 | €11,319 | €26,732 | +€15,412 | +136.2% |
| Gross operating margin | 9900 | €2,979,671 | €3,280,451 | +€300,780 | +10.1% |
| Operating profit (loss) | 9901 | €962,309 | €359,262 | -€603,047 | -62.7% |
| Financial income | 75/76B | €1,818 | €825 | -€992 | -54.6% |
| Recurring financial income | 75 | €1,818 | €825 | -€992 | -54.6% |
| Financial charges | 65/66B | €13,187 | €32,851 | +€19,664 | +149.1% |
| Recurring financial charges | 65 | €13,187 | €32,851 | +€19,664 | +149.1% |
| Profit (loss) for the period before taxes | 9903 | €950,940 | €327,236 | -€623,704 | -65.6% |
| Transfer from deferred taxes | 780 | €3,542 | €42 | -€3,500 | -98.8% |
| Transfer to deferred taxes | 680 | €1,472 | €0 | -€1,472 | -100.0% |
| Income taxes | 67/77 | €204,859 | €11,664 | -€193,195 | -94.3% |
| Profit (loss) for the period | 9904 | €748,150 | €315,614 | -€432,536 | -57.8% |
| Transfer from tax-exempt reserves | 789 | €10,625 | €125 | -€10,500 | -98.8% |
| Transfer to tax-exempt reserves | 689 | €4,417 | €0 | -€4,417 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €754,358 | €315,739 | -€438,619 | -58.1% |
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 6 October 2026 via checked.be.