CREADIV: 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.
What changed
CREADIV
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.0m
2024 · €4.9m+€130,351
Equity
€86.2m
2024 · €84.0m+€2.2m
Cash
€27,728
2024 · €127,264-€99,536
Balance sheet total
€87.1m
2024 · €85.0m+€2.0m
Largest movements
Assets
- Current investments +€3.1m
up €3.1m (+37.7%), from €8.1m to €11.1m
- Receivables after one year -€880,522
down €880,522 (-48.9%), from €1.8m to €919,170
Equity and liabilities
- Profit (loss) carried forward +€1.9m
up €1.9m (+84.9%), from €2.3m to €4.2m
Income statement
- Financial income +€489,499
up €489,499 (+9.2%), from €5.3m to €5.8m
- Gross operating margin -€421,776
down €421,776 (-121.3%), from -€347,639 to -€769,415
- Taxes -€48,612
no longer reported in 2025 (was €48,612)
- Other operating charges -€14,027
down €14,027 (-93.4%), from €15,026 to €998
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.
Result 2024
€4.9m
Gross operating margin
-€421,776
Other operating charges
+€14,027
Financial income
+€489,499
Financial charges
-€11
Taxes
+€48,612
Result 2025
€5.0m
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.
From operations
+€5.8m
Investment
-€3.1m
Financing
-€2.8m
Cash 2024
€127,264
From operations (derived)
+€5.8m
Net result for the year
+€5.0m
Receivables after one year
+€880,522
Smaller working-capital items
-€847
Deferred charges and accrued income
+€35,842
Trade debts
-€48,133
Tax, wage and social debts
-€22,641
Other debts
-€66,562
Investment (derived)
-€3.1m
Current investments
-€3.1m
Financing
-€2.8m
Contributions, distributions and other
-€2.8m
Cash 2025
€27,728
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €85,022,682 | €87,052,735 | +€2.0m | +2.4% |
| Fixed assets | 21/28 | €73,824,504 | €73,824,504 | = | 0.0% |
| Financial fixed assets | 28 | €73,824,504 | €73,824,504 | = | 0.0% |
| Current assets | 29/58 | €11,198,179 | €13,228,232 | +€2.0m | +18.1% |
| Amounts receivable after more than one year | 29 | €1,799,692 | €919,170 | -€880,522 | -48.9% |
| Other amounts receivable | 291 | €1,799,692 | €919,170 | -€880,522 | -48.9% |
| Amounts receivable within one year | 40/41 | €1,057,779 | €1,051,247 | -€6,532 | -0.6% |
| Trade receivables | 40 | €67,091 | €15,233 | -€51,858 | -77.3% |
| Other amounts receivable | 41 | €990,688 | €1,036,014 | +€45,326 | +4.6% |
| Current investments | 50/53 | €8,090,817 | €11,143,302 | +€3.1m | +37.7% |
| Cash at bank and in hand | 54/58 | €127,264 | €27,728 | -€99,536 | -78.2% |
| Deferred charges and accrued income | 490/1 | €122,627 | €86,785 | -€35,842 | -29.2% |
| Total equity and liabilities | 10/49 | €85,022,682 | €87,052,735 | +€2.0m | +2.4% |
| Equity | 10/15 | €83,996,741 | €86,171,510 | +€2.2m | +2.6% |
| Contributions | 10/11 | €59,097,021 | €59,097,021 | = | 0.0% |
| Capital | 10 | €59,097,021 | €59,097,021 | = | 0.0% |
| Issued capital | 100 | €59,097,021 | €59,097,021 | = | 0.0% |
| Reserves | 13 | €22,632,784 | €22,883,522 | +€250,738 | +1.1% |
| Non-distributable reserves | 130/1 | €22,632,784 | €22,883,522 | +€250,738 | +1.1% |
| Legal reserve | 130 | €2,736,821 | €2,987,559 | +€250,738 | +9.2% |
| Other | 1319 | €19,895,963 | €19,895,963 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,266,936 | €4,190,966 | +€1.9m | +84.9% |
| Amounts payable | 17/49 | €1,025,941 | €881,226 | -€144,716 | -14.1% |
| Amounts payable within one year | 42/48 | €1,006,471 | €869,135 | -€137,336 | -13.6% |
| Trade debts | 44 | €66,277 | €18,144 | -€48,133 | -72.6% |
| Suppliers | 440/4 | €66,277 | €18,144 | -€48,133 | -72.6% |
| Taxes, remuneration and social security | 45 | €23,324 | €684 | -€22,641 | -97.1% |
| Taxes | 450/3 | €23,324 | - | -€23,324 | |
| Remuneration and social security | 454/9 | - | €684 | +€684 | |
| Other amounts payable | 47/48 | €916,869 | €850,307 | -€66,562 | -7.3% |
| Accrued charges and deferred income | 492/3 | €19,470 | €12,091 | -€7,379 | -37.9% |
| Other operating charges | 640/8 | €15,026 | €998 | -€14,027 | -93.4% |
| Gross operating margin | 9900 | -€347,639 | -€769,415 | -€421,776 | -121.3% |
| Operating profit (loss) | 9901 | -€362,665 | -€770,414 | -€407,749 | -112.4% |
| Financial income | 75/76B | €5,298,751 | €5,788,250 | +€489,499 | +9.2% |
| Recurring financial income | 75 | €5,298,751 | €5,788,250 | +€489,499 | +9.2% |
| Financial charges | 65/66B | €3,057 | €3,067 | +€11 | +0.3% |
| Recurring financial charges | 65 | €3,057 | €3,067 | +€11 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €4,933,030 | €5,014,769 | +€81,739 | +1.7% |
| Income taxes | 67/77 | €48,612 | - | -€48,612 | |
| Profit (loss) for the period | 9904 | €4,884,418 | €5,014,769 | +€130,351 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,884,418 | €5,014,769 | +€130,351 | +2.7% |
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 30 September 2026 via checked.be.