CREA FENIX: 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.
CREA FENIX
Largest movements
- Receivables within one year +€263,693
up €263,693 (+268%), from €98,392 to €362,085
of which Trade receivables: +€227,057
- Cash +€170,254
up €170,254 (+80.4%), from €211,820 to €382,074
mainly Net result for the year (+€334,712) and Other debts (+€294,557)
- Tangible fixed assets -€16,995
down €16,995 (-25.4%), from €66,783 to €49,789
of which Furniture and vehicles: -€12,439
- Other debts +€294,557
up €294,557 (+34,291%), from €859 to €295,416
- Debts after one year +€160,000
new in 2025: €160,000
- Reserves -€131,215
down €131,215 (-23.2%), from €565,927 to €434,712
- Trade debts +€78,380
up €78,380 (+2,311%), from €3,392 to €81,772
- Gross operating margin +€292,373
up €292,373 (+118%), from €247,671 to €540,043
- Taxes +€53,230
up €53,230 (+96.3%), from €55,273 to €108,503
- Staff costs +€44,537
new in 2025: €44,537
- Financial charges +€36,598
up €36,598 (+2,626%), from €1,394 to €37,992
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 | €629,836 | €1,047,913 | +€418,077 | +66.4% |
| Fixed assets | 21/28 | €66,783 | €49,789 | -€16,995 | -25.4% |
| Tangible fixed assets | 22/27 | €66,783 | €49,789 | -€16,995 | -25.4% |
| Plant, machinery and equipment | 23 | €1,048 | €1,995 | +€947 | +90.4% |
| Furniture and vehicles | 24 | €43,211 | €30,773 | -€12,439 | -28.8% |
| Other tangible fixed assets | 26 | €22,524 | €17,021 | -€5,503 | -24.4% |
| Current assets | 29/58 | €563,053 | €998,125 | +€435,072 | +77.3% |
| Amounts receivable within one year | 40/41 | €98,392 | €362,085 | +€263,693 | +268% |
| Trade receivables | 40 | €95,320 | €322,377 | +€227,057 | +238% |
| Other amounts receivable | 41 | €3,073 | €39,708 | +€36,636 | +1,192% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €211,820 | €382,074 | +€170,254 | +80.4% |
| Deferred charges and accrued income | 490/1 | €2,841 | €3,966 | +€1,125 | +39.6% |
| Total equity and liabilities | 10/49 | €629,836 | €1,047,913 | +€418,077 | +66.4% |
| Equity | 10/15 | €567,927 | €436,712 | -€131,215 | -23.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €565,927 | €434,712 | -€131,215 | -23.2% |
| Distributable reserves | 133 | €565,927 | €434,712 | -€131,215 | -23.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,909 | €611,201 | +€549,292 | +887% |
| Amounts payable after more than one year | 17 | - | €160,000 | +€160,000 | |
| Financial debts | 170/4 | - | €160,000 | +€160,000 | |
| Amounts payable within one year | 42/48 | €61,909 | €442,761 | +€380,852 | +615% |
| Trade debts | 44 | €3,392 | €81,772 | +€78,380 | +2,311% |
| Suppliers | 440/4 | €3,392 | €81,772 | +€78,380 | +2,311% |
| Taxes, remuneration and social security | 45 | €57,658 | €65,572 | +€7,915 | +13.7% |
| Taxes | 450/3 | €57,658 | €58,698 | +€1,040 | +1.8% |
| Remuneration and social security | 454/9 | - | €6,875 | +€6,875 | |
| Other amounts payable | 47/48 | €859 | €295,416 | +€294,557 | +34,291% |
| Accrued charges and deferred income | 492/3 | - | €8,440 | +€8,440 | |
| Remuneration, social security and pensions | 62 | - | €44,537 | +€44,537 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,837 | €18,777 | +€940 | +5.3% |
| Other operating charges | 640/8 | €918 | €1,339 | +€421 | +45.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €247,671 | €540,043 | +€292,373 | +118% |
| Operating profit (loss) | 9901 | €228,916 | €475,391 | +€246,475 | +108% |
| Financial income | 75/76B | €9,598 | €5,816 | -€3,782 | -39.4% |
| Recurring financial income | 75 | €9,598 | €5,816 | -€3,782 | -39.4% |
| Financial charges | 65/66B | €1,394 | €37,992 | +€36,598 | +2,626% |
| Recurring financial charges | 65 | €1,394 | €37,992 | +€36,598 | +2,626% |
| Profit (loss) for the period before taxes | 9903 | €237,120 | €443,215 | +€206,095 | +86.9% |
| Income taxes | 67/77 | €55,273 | €108,503 | +€53,230 | +96.3% |
| Profit (loss) for the period | 9904 | €181,848 | €334,712 | +€152,865 | +84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €181,848 | €334,712 | +€152,865 | +84.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.