CREA PROJECTS: 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 PROJECTS
Largest movements
- Stocks and contracts +€69,663
up €69,663 (+37.0%), from €188,116 to €257,779
- Receivables within one year +€64,860
up €64,860 (+66.6%), from €97,357 to €162,217
of which Trade receivables: +€62,958
- Tangible fixed assets -€27,719
down €27,719 (-11.4%), from €243,737 to €216,018
of which Land and buildings: -€25,289
- Cash -€20,544
down €20,544 (-20.4%), from €100,630 to €80,086
mainly Stocks and contracts (-€69,663) and Receivables within one year (-€64,860)
- Trade debts +€71,470
up €71,470 (+313%), from €22,856 to €94,325
- Reserves +€47,450
up €47,450 (+62.3%), from €76,163 to €123,613
- Other debts -€27,644
no longer reported in 2025 (was €27,644)
- Debts after one year -€13,241
down €13,241 (-7.1%), from €185,621 to €172,380
- Tax, wage and social debts +€11,144
up €11,144 (+26.8%), from €41,558 to €52,702
- Gross operating margin -€46,261
down €46,261 (-22.3%), from €207,561 to €161,300
- Financial income -€3,146
no longer reported in 2025 (was €3,146)
- Taxes -€2,705
down €2,705 (-9.8%), from €27,703 to €24,999
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 | €634,796 | €719,980 | +€85,185 | +13.4% |
| Fixed assets | 21/28 | €246,505 | €217,326 | -€29,179 | -11.8% |
| Intangible fixed assets | 21 | €2,768 | €1,308 | -€1,460 | -52.7% |
| Tangible fixed assets | 22/27 | €243,737 | €216,018 | -€27,719 | -11.4% |
| Land and buildings | 22 | €153,965 | €128,676 | -€25,289 | -16.4% |
| Plant, machinery and equipment | 23 | €21,621 | €12,487 | -€9,135 | -42.2% |
| Furniture and vehicles | 24 | €28,629 | €21,718 | -€6,911 | -24.1% |
| Leasing and similar rights | 25 | €30,850 | €45,800 | +€14,950 | +48.5% |
| Other tangible fixed assets | 26 | €8,671 | €7,337 | -€1,334 | -15.4% |
| Current assets | 29/58 | €388,291 | €502,654 | +€114,363 | +29.5% |
| Stocks and contracts in progress | 3 | €188,116 | €257,779 | +€69,663 | +37.0% |
| Stocks | 30/36 | €188,116 | €257,779 | +€69,663 | +37.0% |
| Amounts receivable within one year | 40/41 | €97,357 | €162,217 | +€64,860 | +66.6% |
| Trade receivables | 40 | €13,970 | €76,929 | +€62,958 | +451% |
| Other amounts receivable | 41 | €83,387 | €85,288 | +€1,902 | +2.3% |
| Cash at bank and in hand | 54/58 | €100,630 | €80,086 | -€20,544 | -20.4% |
| Deferred charges and accrued income | 490/1 | €2,189 | €2,572 | +€383 | +17.5% |
| Total equity and liabilities | 10/49 | €634,796 | €719,980 | +€85,185 | +13.4% |
| Equity | 10/15 | €151,317 | €197,594 | +€46,277 | +30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €15,251 | €14,078 | -€1,173 | -7.7% |
| Reserves | 13 | €76,163 | €123,613 | +€47,450 | +62.3% |
| Distributable reserves | 133 | €76,163 | €123,613 | +€47,450 | +62.3% |
| Profit (loss) carried forward | 14 | €41,303 | €41,303 | = | 0.0% |
| Amounts payable | 17/49 | €483,478 | €522,386 | +€38,907 | +8.0% |
| Amounts payable after more than one year | 17 | €185,621 | €172,380 | -€13,241 | -7.1% |
| Financial debts | 170/4 | €185,621 | €172,380 | -€13,241 | -7.1% |
| Amounts payable within one year | 42/48 | €297,857 | €349,006 | +€51,149 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €57,923 | €48,861 | -€9,063 | -15.6% |
| Financial debts | 43 | €147,876 | €151,488 | +€3,612 | +2.4% |
| Credit institutions | 430/8 | €147,876 | €151,488 | +€3,612 | +2.4% |
| Trade debts | 44 | €22,856 | €94,325 | +€71,470 | +313% |
| Suppliers | 440/4 | €22,856 | €94,325 | +€71,470 | +313% |
| Advances received on contracts in progress | 46 | - | €1,630 | +€1,630 | |
| Taxes, remuneration and social security | 45 | €41,558 | €52,702 | +€11,144 | +26.8% |
| Taxes | 450/3 | €41,558 | €52,702 | +€11,144 | +26.8% |
| Other amounts payable | 47/48 | €27,644 | - | -€27,644 | |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,584 | €67,048 | +€1,464 | +2.2% |
| Other operating charges | 640/8 | €4,361 | €2,622 | -€1,739 | -39.9% |
| Gross operating margin | 9900 | €207,561 | €161,300 | -€46,261 | -22.3% |
| Operating profit (loss) | 9901 | €137,616 | €91,630 | -€45,986 | -33.4% |
| Financial income | 75/76B | €3,146 | - | -€3,146 | |
| Recurring financial income | 75 | €3,146 | - | -€3,146 | |
| Financial charges | 65/66B | €21,141 | €19,181 | -€1,961 | -9.3% |
| Recurring financial charges | 65 | €21,141 | €19,181 | -€1,961 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €119,621 | €72,449 | -€47,172 | -39.4% |
| Income taxes | 67/77 | €27,703 | €24,999 | -€2,705 | -9.8% |
| Profit (loss) for the period | 9904 | €91,917 | €47,450 | -€44,467 | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €91,917 | €47,450 | -€44,467 | -48.4% |
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 15 October 2026 via checked.be.