Creafin: 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
Creafin
NACE 64.922, Financial service activities, except insurance and pension funding
fiscal year 2024 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€507,459
2024 · €301,678+€205,781
Equity
€6.5m
2024 · €3.0m+€3.6m
Cash
€5.0m
2024 · €2.1m+€2.8m
Balance sheet total
€35.2m
2024 · €7.2m+€28.0m
Largest movements
Assets
- Financial fixed assets +€18.4m
up €18.4m (+7037743.2%), from €262 to €18.4m
of which Other financial fixed assets: +€18.4m
- Intangible fixed assets +€6.0m
up €6.0m (+382.1%), from €1.6m to €7.5m
- Cash +€2.8m
up €2.8m (+130.5%), from €2.1m to €5.0m
- Deferred charges and accrued income +€2.1m
up €2.1m (+2302.4%), from €90,087 to €2.2m
- Receivables after one year -€1.2m
down €1.2m (-58.9%), from €2.0m to €816,500
Equity and liabilities
- Debts after one year +€18.5m
up €18.5m (+1341.6%), from €1.4m to €19.9m
- Other debts +€3.4m
up €3.4m (+205.6%), from €1.7m to €5.1m
- Contributions +€3.2m
up €3.2m (+127.7%), from €2.5m to €5.7m
- Accrued charges and deferred income +€1.7m
up €1.7m (+1318.8%), from €130,609 to €1.9m
- Trade debts +€617,453
up €617,453 (+94.3%), from €654,507 to €1.3m
Income statement
- Turnover +€12.5m
new in 2025: €12.5m
- Services and other goods +€8.4m
new in 2025: €8.4m
- Gross operating margin -€2.4m
no longer reported in 2025 (was €2.4m)
- Staff costs +€1.5m
up €1.5m (+97.8%), from €1.5m to €3.0m
- Financial income +€1.2m
up €1.2m (+280.4%), from €436,331 to €1.7m
of which Financial income: +€1.6m
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
€301,678
Turnover
+€12.5m
Other operating income
+€82,100
Services and other goods
-€8.4m
Staff costs
-€1.5m
Depreciation
-€860,551
Write-downs
+€115,809
Provisions
-€32,514
Other operating charges
-€418,184
Other operating items
-€2.1m
Financial income
+€1.2m
Financial charges
-€330,161
Taxes
-€61,014
Result 2025
€507,459
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,159,564 | €35,155,840 | +€28.0m | +391.0% |
| Fixed assets | 21/28 | €1,587,780 | €26,087,483 | +€24.5m | +1543.0% |
| Intangible fixed assets | 21 | €1,557,940 | €7,511,154 | +€6.0m | +382.1% |
| Tangible fixed assets | 22/27 | €29,578 | €146,329 | +€116,751 | +394.7% |
| Furniture and vehicles | 24 | €29,578 | €106,362 | +€76,784 | +259.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | €39,967 | +€39,967 | |
| Financial fixed assets | 28 | €262 | €18,430,000 | +€18.4m | +7037743.2% |
| Affiliated companies | 280/1 | - | €0 | = | |
| Participating interests | 280 | - | €0 | = | |
| Other financial fixed assets | 284/8 | - | €18,430,000 | +€18.4m | |
| Amounts receivable and cash guarantees | 285/8 | - | €18,430,000 | +€18.4m | |
| Current assets | 29/58 | €5,571,784 | €9,068,357 | +€3.5m | +62.8% |
| Amounts receivable after more than one year | 29 | €1,988,410 | €816,500 | -€1.2m | -58.9% |
| Other amounts receivable | 291 | €1,988,410 | €816,500 | -€1.2m | -58.9% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,344,576 | €1,135,355 | -€209,221 | -15.6% |
| Trade receivables | 40 | €886,962 | €604,750 | -€282,212 | -31.8% |
| Other amounts receivable | 41 | €457,614 | €530,605 | +€72,991 | +16.0% |
| Cash at bank and in hand | 54/58 | €2,148,711 | €4,952,290 | +€2.8m | +130.5% |
| Deferred charges and accrued income | 490/1 | €90,087 | €2,164,213 | +€2.1m | +2302.4% |
| Total equity and liabilities | 10/49 | €7,159,564 | €35,155,840 | +€28.0m | +391.0% |
| Equity | 10/15 | €2,985,619 | €6,545,902 | +€3.6m | +119.2% |
| Contributions | 10/11 | €2,500,000 | €5,692,500 | +€3.2m | +127.7% |
| Capital | 10 | €2,500,000 | €5,692,500 | +€3.2m | +127.7% |
| Issued capital | 100 | €2,500,000 | €5,692,500 | +€3.2m | +127.7% |
| Reserves | 13 | €250,000 | €275,375 | +€25,375 | +10.2% |
| Non-distributable reserves | 130/1 | €250,000 | €275,375 | +€25,375 | +10.2% |
| Legal reserve | 130 | €250,000 | €275,375 | +€25,375 | +10.2% |
| Profit (loss) carried forward | 14 | €235,619 | €578,027 | +€342,408 | +145.3% |
| Provisions and deferred taxes | 16 | €22,814 | €0 | -€22,814 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €22,814 | €0 | -€22,814 | -100.0% |
| Other liabilities and charges | 164/5 | €22,814 | €0 | -€22,814 | -100.0% |
| Amounts payable | 17/49 | €4,151,131 | €28,609,938 | +€24.5m | +589.2% |
| Amounts payable after more than one year | 17 | €1,379,329 | €19,884,281 | +€18.5m | +1341.6% |
| Financial debts | 170/4 | €1,379,329 | €19,884,281 | +€18.5m | +1341.6% |
| Credit institutions | 173 | - | €181,522 | +€181,522 | |
| Other loans | 174 | - | €19,702,759 | +€19.7m | |
| Amounts payable within one year | 42/48 | €2,641,193 | €6,872,575 | +€4.2m | +160.2% |
| Current portion of amounts payable after more than one year | 42 | - | €133,324 | +€133,324 | |
| Financial debts | 43 | €124,791 | - | -€124,791 | |
| Other loans | 439 | €124,791 | - | -€124,791 | |
| Trade debts | 44 | €654,507 | €1,271,960 | +€617,453 | +94.3% |
| Suppliers | 440/4 | €654,507 | €1,271,960 | +€617,453 | +94.3% |
| Taxes, remuneration and social security | 45 | €202,855 | €396,868 | +€194,013 | +95.6% |
| Taxes | 450/3 | €80,933 | €127,897 | +€46,964 | +58.0% |
| Remuneration and social security | 454/9 | €121,922 | €268,971 | +€147,049 | +120.6% |
| Other amounts payable | 47/48 | €1,659,040 | €5,070,423 | +€3.4m | +205.6% |
| Accrued charges and deferred income | 492/3 | €130,609 | €1,853,081 | +€1.7m | +1318.8% |
| Operating income | 70/76A | - | €12,864,044 | +€12.9m | |
| Turnover | 70 | - | €12,491,580 | +€12.5m | |
| Other operating income | 74 | - | €82,100 | +€82,100 | |
| Non-recurring operating income | 76A | €0 | €290,364 | +€290,364 | |
| Operating charges | 60/66A | - | €13,086,499 | +€13.1m | |
| Services and other goods | 61 | - | €8,413,705 | +€8.4m | |
| Remuneration, social security and pensions | 62 | €1,493,699 | €2,954,445 | +€1.5m | +97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €576,907 | €1,437,458 | +€860,551 | +149.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€115,809 | -€115,809 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€55,328 | -€22,814 | +€32,514 | +58.8% |
| Other operating charges | 640/8 | €1,330 | €419,514 | +€418,184 | +31442.8% |
| Gross operating margin | 9900 | €2,420,841 | - | -€2.4m | |
| Operating profit (loss) | 9901 | €404,233 | -€222,455 | -€626,688 | |
| Financial income | 75/76B | €436,331 | €1,659,975 | +€1.2m | +280.4% |
| Recurring financial income | 75 | €85,878 | €1,659,975 | +€1.6m | +1833.0% |
| Income from financial fixed assets | 750 | - | €1,445,803 | +€1.4m | |
| Income from current assets | 751 | - | €214,172 | +€214,172 | |
| Non-recurring financial income | 76B | €350,453 | - | -€350,453 | |
| Financial charges | 65/66B | €410,886 | €741,047 | +€330,161 | +80.4% |
| Recurring financial charges | 65 | €105,091 | €702,139 | +€597,048 | +568.1% |
| Debt charges | 650 | - | €676,488 | +€676,488 | |
| Other financial charges | 652/9 | - | €25,651 | +€25,651 | |
| Non-recurring financial charges | 66B | €305,795 | €38,908 | -€266,887 | -87.3% |
| Profit (loss) for the period before taxes | 9903 | €429,678 | €696,473 | +€266,795 | +62.1% |
| Income taxes | 67/77 | €128,000 | €189,014 | +€61,014 | +47.7% |
| Taxes | 670/3 | - | €210,310 | +€210,310 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €21,295 | +€21,295 | |
| Profit (loss) for the period | 9904 | €301,678 | €507,459 | +€205,781 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €301,678 | €507,459 | +€205,781 | +68.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 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.