CREADEM: 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.
CREADEM
Largest movements
- Receivables within one year +€11,862
up €11,862 (+36.3%), from €32,665 to €44,528
of which Other amounts receivable: +€10,250
- Cash +€5,492
up €5,492 (+9.6%), from €57,097 to €62,589
mainly Net result for the year (+€21,655) and Depreciation (+€1,605)
- Tangible fixed assets -€1,605
down €1,605 (-42.9%), from €3,742 to €2,137
- Reserves +€15,655
up €15,655 (+19.9%), from €78,640 to €94,295
- Gross operating margin +€24,260
up €24,260 (+50.9%), from €47,681 to €71,941
- Financial charges +€11,318
up €11,318 (+42.4%), from €26,662 to €37,980
- Taxes +€5,607
up €5,607 (+118.9%), from €4,717 to €10,324
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 | €93,942 | €109,971 | +€16,029 | +17.1% |
| Fixed assets | 21/28 | €3,742 | €2,137 | -€1,605 | -42.9% |
| Tangible fixed assets | 22/27 | €3,742 | €2,137 | -€1,605 | -42.9% |
| Furniture and vehicles | 24 | €3,742 | €2,137 | -€1,605 | -42.9% |
| Current assets | 29/58 | €90,200 | €107,834 | +€17,634 | +19.6% |
| Amounts receivable within one year | 40/41 | €32,665 | €44,528 | +€11,862 | +36.3% |
| Trade receivables | 40 | €19,838 | €21,451 | +€1,612 | +8.1% |
| Other amounts receivable | 41 | €12,827 | €23,077 | +€10,250 | +79.9% |
| Cash at bank and in hand | 54/58 | €57,097 | €62,589 | +€5,492 | +9.6% |
| Deferred charges and accrued income | 490/1 | €438 | €717 | +€279 | +63.8% |
| Total equity and liabilities | 10/49 | €93,942 | €109,971 | +€16,029 | +17.1% |
| Equity | 10/15 | €78,640 | €94,295 | +€15,655 | +19.9% |
| Reserves | 13 | €78,640 | €94,295 | +€15,655 | +19.9% |
| Distributable reserves | 133 | €78,640 | €94,295 | +€15,655 | +19.9% |
| Amounts payable | 17/49 | €15,302 | €15,676 | +€374 | +2.4% |
| Amounts payable within one year | 42/48 | €15,302 | €15,676 | +€374 | +2.4% |
| Trade debts | 44 | €2,392 | €2,675 | +€283 | +11.8% |
| Suppliers | 440/4 | €2,392 | €2,675 | +€283 | +11.8% |
| Taxes, remuneration and social security | 45 | €12,124 | €12,149 | +€25 | +0.2% |
| Taxes | 450/3 | €12,124 | €12,149 | +€25 | +0.2% |
| Other amounts payable | 47/48 | €785 | €852 | +€67 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,062 | €1,605 | -€456 | -22.1% |
| Other operating charges | 640/8 | €600 | €376 | -€224 | -37.3% |
| Gross operating margin | 9900 | €47,681 | €71,941 | +€24,260 | +50.9% |
| Operating profit (loss) | 9901 | €45,020 | €69,960 | +€24,940 | +55.4% |
| Financial charges | 65/66B | €26,662 | €37,980 | +€11,318 | +42.4% |
| Recurring financial charges | 65 | €26,662 | €37,980 | +€11,318 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €18,357 | €31,979 | +€13,622 | +74.2% |
| Income taxes | 67/77 | €4,717 | €10,324 | +€5,607 | +118.9% |
| Profit (loss) for the period | 9904 | €13,640 | €21,655 | +€8,015 | +58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,640 | €21,655 | +€8,015 | +58.8% |
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.