CREAFID: 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.
CREAFID
Largest movements
- Receivables within one year -€47,468
down €47,468 (-63.5%), from €74,725 to €27,257
of which Other amounts receivable: -€37,909
- Cash -€19,036
down €19,036 (-38.2%), from €49,858 to €30,822
mainly Contributions, distributions and other (-€77,399) and Other debts (-€62,396)
- Deferred charges and accrued income -€7,994
down €7,994 (-80.1%), from €9,982 to €1,988
- Tangible fixed assets -€7,754
down €7,754 (-51.3%), from €15,118 to €7,364
- Intangible fixed assets -€2,705
down €2,705 (-50.4%), from €5,366 to €2,661
- Other debts -€62,396
down €62,396 (-63.2%), from €98,704 to €36,308
- Debts after one year -€9,439
down €9,439 (-50.5%), from €18,706 to €9,268
- Tax, wage and social debts -€6,409
down €6,409 (-53.0%), from €12,090 to €5,681
of which Taxes: -€5,841
- Trade debts -€5,514
down €5,514 (-46.2%), from €11,948 to €6,434
- Gross operating margin -€32,961
down €32,961 (-20.3%), from €162,530 to €129,569
- Staff costs -€12,121
down €12,121 (-74.9%), from €16,180 to €4,059
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 | €155,050 | €70,092 | -€84,958 | -54.8% |
| Fixed assets | 21/28 | €20,484 | €10,025 | -€10,460 | -51.1% |
| Intangible fixed assets | 21 | €5,366 | €2,661 | -€2,705 | -50.4% |
| Tangible fixed assets | 22/27 | €15,118 | €7,364 | -€7,754 | -51.3% |
| Furniture and vehicles | 24 | €15,118 | €7,364 | -€7,754 | -51.3% |
| Current assets | 29/58 | €134,565 | €60,067 | -€74,498 | -55.4% |
| Amounts receivable within one year | 40/41 | €74,725 | €27,257 | -€47,468 | -63.5% |
| Trade receivables | 40 | €36,816 | €27,257 | -€9,559 | -26.0% |
| Other amounts receivable | 41 | €37,909 | €0 | -€37,909 | -100.0% |
| Cash at bank and in hand | 54/58 | €49,858 | €30,822 | -€19,036 | -38.2% |
| Deferred charges and accrued income | 490/1 | €9,982 | €1,988 | -€7,994 | -80.1% |
| Total equity and liabilities | 10/49 | €155,050 | €70,092 | -€84,958 | -54.8% |
| Equity | 10/15 | €12,401 | €12,401 | = | 0.0% |
| Contributions | 10/11 | €12,401 | €12,401 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €142,649 | €57,691 | -€84,958 | -59.6% |
| Amounts payable after more than one year | 17 | €18,706 | €9,268 | -€9,439 | -50.5% |
| Financial debts | 170/4 | €18,706 | €9,268 | -€9,439 | -50.5% |
| Amounts payable within one year | 42/48 | €123,942 | €48,423 | -€75,519 | -60.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €11,948 | €6,434 | -€5,514 | -46.2% |
| Suppliers | 440/4 | €11,948 | €6,434 | -€5,514 | -46.2% |
| Advances received on contracts in progress | 46 | €1,200 | €0 | -€1,200 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,090 | €5,681 | -€6,409 | -53.0% |
| Taxes | 450/3 | €11,522 | €5,681 | -€5,841 | -50.7% |
| Remuneration and social security | 454/9 | €568 | €0 | -€568 | -100.0% |
| Other amounts payable | 47/48 | €98,704 | €36,308 | -€62,396 | -63.2% |
| Remuneration, social security and pensions | 62 | €16,180 | €4,059 | -€12,121 | -74.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,784 | €12,084 | +€301 | +2.6% |
| Other operating charges | 640/8 | €5,327 | €5,630 | +€303 | +5.7% |
| Gross operating margin | 9900 | €162,530 | €129,569 | -€32,961 | -20.3% |
| Operating profit (loss) | 9901 | €129,240 | €107,795 | -€21,444 | -16.6% |
| Financial income | 75/76B | €1 | €519 | +€518 | +56272.8% |
| Recurring financial income | 75 | €1 | €519 | +€518 | +56272.8% |
| Financial charges | 65/66B | €1,827 | €1,309 | -€518 | -28.3% |
| Recurring financial charges | 65 | €1,827 | €1,309 | -€518 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €127,414 | €107,005 | -€20,409 | -16.0% |
| Income taxes | 67/77 | €28,709 | €29,606 | +€897 | +3.1% |
| Profit (loss) for the period | 9904 | €98,704 | €77,399 | -€21,305 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €98,704 | €77,399 | -€21,305 | -21.6% |
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 11 October 2026 via checked.be.