CREAGORA: 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
CREAGORA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€86,139
2024 · €32,417+€53,722
Equity
€5.9m
2024 · €5.8m+€86,139
Cash
€250,490
2024 · €357,422-€106,932
Balance sheet total
€14.0m
2024 · €14.3m-€345,279
Largest movements
Assets
- Current investments -€200,000
down €200,000 (-28.6%), from €700,000 to €500,000
Equity and liabilities
- Debts after one year -€406,031
down €406,031 (-5.2%), from €7.8m to €7.4m
- Short-term financial debts +€240,000
new in 2025: €240,000
- Current portion of long-term debt -€236,912
down €236,912 (-58.8%), from €402,943 to €166,031
Income statement
- Turnover +€59,248
up €59,248 (+3.5%), from €1.7m to €1.7m
- Gross operating margin +€52,360
up €52,360 (+5.0%), from €1.0m to €1.1m
- Provisions -€32,918
down €32,918, from €16,459 to -€16,459
- Depreciation +€28,318
up €28,318 (+5.5%), from €514,532 to €542,850
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
€32,417
Gross operating margin
+€52,360
Staff costs
-€13,763
Depreciation
-€28,318
Provisions
+€32,918
Other operating charges
-€4,823
Financial income
+€3,482
Financial charges
+€9,893
Taxes
+€1,973
Result 2025
€86,139
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
+€665,861
Investment
-€369,850
Financing
-€402,943
Cash 2024
€357,422
From operations (derived)
+€665,861
Net result for the year
+€86,139
Depreciation
+€542,850
Receivables within one year
+€46,582
Deferred charges and accrued income
+€18,765
Provisions
-€16,459
Trade debts
+€221
Tax, wage and social debts
+€2,807
Accrued charges and deferred income
-€15,044
Investment (derived)
-€369,850
Investment in fixed assets (net)
-€569,850
Current investments
+€200,000
Financing
-€402,943
Debts after one year
-€406,031
Current portion of long-term debt
-€236,912
Short-term financial debts
+€240,000
Cash 2025
€250,490
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,327,115 | €13,981,836 | -€345,279 | -2.4% |
| Fixed assets | 21/28 | €13,068,011 | €13,095,011 | +€27,000 | +0.2% |
| Intangible fixed assets | 21 | €1,018 | €226 | -€792 | -77.8% |
| Tangible fixed assets | 22/27 | €13,066,602 | €13,094,394 | +€27,792 | +0.2% |
| Land and buildings | 22 | €12,840,667 | €12,820,752 | -€19,915 | -0.2% |
| Plant, machinery and equipment | 23 | - | €37,301 | +€37,301 | |
| Furniture and vehicles | 24 | €210,172 | €226,772 | +€16,600 | +7.9% |
| Assets under construction and advance payments | 27 | €15,763 | €9,569 | -€6,194 | -39.3% |
| Financial fixed assets | 28 | €391 | €391 | = | 0.0% |
| Current assets | 29/58 | €1,259,104 | €886,825 | -€372,279 | -29.6% |
| Amounts receivable within one year | 40/41 | €149,232 | €102,650 | -€46,582 | -31.2% |
| Trade receivables | 40 | €149,232 | €102,650 | -€46,582 | -31.2% |
| Current investments | 50/53 | €700,000 | €500,000 | -€200,000 | -28.6% |
| Cash at bank and in hand | 54/58 | €357,422 | €250,490 | -€106,932 | -29.9% |
| Deferred charges and accrued income | 490/1 | €52,450 | €33,685 | -€18,765 | -35.8% |
| Total equity and liabilities | 10/49 | €14,327,115 | €13,981,836 | -€345,279 | -2.4% |
| Equity | 10/15 | €5,782,764 | €5,868,903 | +€86,139 | +1.5% |
| Contributions | 10/11 | €6,060,000 | €6,060,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€277,236 | -€191,097 | +€86,139 | +31.1% |
| Provisions and deferred taxes | 16 | €16,459 | - | -€16,459 | |
| Provisions for liabilities and charges | 160/5 | €16,459 | - | -€16,459 | |
| Other liabilities and charges | 164/5 | €16,459 | - | -€16,459 | |
| Amounts payable | 17/49 | €8,527,892 | €8,112,933 | -€414,959 | -4.9% |
| Amounts payable after more than one year | 17 | €7,804,649 | €7,398,618 | -€406,031 | -5.2% |
| Financial debts | 170/4 | €7,804,649 | €7,398,618 | -€406,031 | -5.2% |
| Amounts payable within one year | 42/48 | €707,608 | €713,724 | +€6,116 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €402,943 | €166,031 | -€236,912 | -58.8% |
| Financial debts | 43 | - | €240,000 | +€240,000 | |
| Other loans | 439 | - | €240,000 | +€240,000 | |
| Trade debts | 44 | €96,685 | €96,906 | +€221 | +0.2% |
| Suppliers | 440/4 | €96,685 | €96,906 | +€221 | +0.2% |
| Taxes, remuneration and social security | 45 | €207,980 | €210,787 | +€2,807 | +1.3% |
| Taxes | 450/3 | €183,203 | €185,966 | +€2,763 | +1.5% |
| Remuneration and social security | 454/9 | €24,777 | €24,821 | +€44 | +0.2% |
| Accrued charges and deferred income | 492/3 | €15,635 | €591 | -€15,044 | -96.2% |
| Turnover | 70 | €1,670,062 | €1,729,310 | +€59,248 | +3.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €627,229 | €634,118 | +€6,889 | +1.1% |
| Remuneration, social security and pensions | 62 | €194,860 | €208,623 | +€13,763 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €514,532 | €542,850 | +€28,318 | +5.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €16,459 | -€16,459 | -€32,918 | |
| Other operating charges | 640/8 | €157,534 | €162,357 | +€4,823 | +3.1% |
| Gross operating margin | 9900 | €1,042,833 | €1,095,193 | +€52,360 | +5.0% |
| Operating profit (loss) | 9901 | €159,448 | €197,822 | +€38,374 | +24.1% |
| Financial income | 75/76B | €7,635 | €11,117 | +€3,482 | +45.6% |
| Recurring financial income | 75 | €7,635 | €11,117 | +€3,482 | +45.6% |
| Financial charges | 65/66B | €134,983 | €125,090 | -€9,893 | -7.3% |
| Recurring financial charges | 65 | €131,100 | €125,090 | -€6,010 | -4.6% |
| Non-recurring financial charges | 66B | €3,883 | - | -€3,883 | |
| Profit (loss) for the period before taxes | 9903 | €32,100 | €83,849 | +€51,749 | +161.2% |
| Income taxes | 67/77 | -€317 | -€2,290 | -€1,973 | -622.4% |
| Profit (loss) for the period | 9904 | €32,417 | €86,139 | +€53,722 | +165.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,417 | €86,139 | +€53,722 | +165.7% |
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 9 October 2026 via checked.be.