Créal: 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.
Créal
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year -€97,109
down €97,109 (-34.3%), from €282,820 to €185,710
of which Trade receivables: -€99,737
- Cash -€37,957
down €37,957 (-64.0%), from €59,352 to €21,395
mainly Current investments (-€100,000) and Tax, wage and social debts (-€33,354)
- Tangible fixed assets -€10,340
down €10,340 (-8.6%), from €120,694 to €110,355
of which Plant, machinery and equipment: -€10,340
- Tax, wage and social debts -€33,354
down €33,354 (-100%), from €33,354 to €0
of which Taxes: -€33,354
- Other debts -€9,484
down €9,484 (-7.6%), from €124,773 to €115,289
- Profit (loss) carried forward -€4,794
down €4,794 (-18.7%), from -€25,583 to -€30,377
- Gross operating margin -€486,438
down €486,438 (-95.9%), from €507,369 to €20,931
- Taxes -€143,273
down €143,273 (-99.8%), from €143,567 to €294
- Depreciation -€12,501
down €12,501 (-54.7%), from €22,840 to €10,340
- Staff costs -€11,696
down €11,696 (-71.7%), from €16,307 to €4,610
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.
Derived cash bridge
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 | €474,392 | €428,987 | -€45,406 | -9.6% |
| Fixed assets | 21/28 | €127,221 | €116,882 | -€10,340 | -8.1% |
| Tangible fixed assets | 22/27 | €120,694 | €110,355 | -€10,340 | -8.6% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €120,694 | €110,355 | -€10,340 | -8.6% |
| Financial fixed assets | 28 | €6,527 | €6,527 | = | 0.0% |
| Current assets | 29/58 | €347,171 | €312,105 | -€35,066 | -10.1% |
| Stocks and contracts in progress | 3 | €5,000 | €5,000 | = | 0.0% |
| Stocks | 30/36 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €282,820 | €185,710 | -€97,109 | -34.3% |
| Trade receivables | 40 | €281,972 | €182,235 | -€99,737 | -35.4% |
| Other amounts receivable | 41 | €848 | €3,476 | +€2,628 | +310% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €59,352 | €21,395 | -€37,957 | -64.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €474,392 | €428,987 | -€45,406 | -9.6% |
| Equity | 10/15 | €305,905 | €301,110 | -€4,794 | -1.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €312,896 | €312,896 | = | 0.0% |
| Distributable reserves | 133 | €312,896 | €312,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,583 | -€30,377 | -€4,794 | -18.7% |
| Amounts payable | 17/49 | €168,488 | €127,877 | -€40,611 | -24.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €158,127 | €119,329 | -€38,798 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €3,000 | +€3,000 | |
| Trade debts | 44 | €0 | €1,040 | +€1,040 | |
| Suppliers | 440/4 | €0 | €1,040 | +€1,040 | |
| Taxes, remuneration and social security | 45 | €33,354 | €0 | -€33,354 | -100% |
| Taxes | 450/3 | €33,354 | €0 | -€33,354 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €124,773 | €115,289 | -€9,484 | -7.6% |
| Accrued charges and deferred income | 492/3 | €10,361 | €8,548 | -€1,813 | -17.5% |
| Remuneration, social security and pensions | 62 | €16,307 | €4,610 | -€11,696 | -71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,840 | €10,340 | -€12,501 | -54.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,965 | €0 | -€2,965 | -100% |
| Other operating charges | 640/8 | €2,909 | €1,568 | -€1,341 | -46.1% |
| Gross operating margin | 9900 | €507,369 | €20,931 | -€486,438 | -95.9% |
| Operating profit (loss) | 9901 | €462,349 | €4,413 | -€457,936 | -99.0% |
| Financial income | 75/76B | €1,500 | €650 | -€850 | -56.7% |
| Recurring financial income | 75 | €1,500 | €650 | -€850 | -56.7% |
| Financial charges | 65/66B | €12,946 | €9,564 | -€3,383 | -26.1% |
| Recurring financial charges | 65 | €12,946 | €9,564 | -€3,383 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €450,903 | -€4,500 | -€455,404 | |
| Income taxes | 67/77 | €143,567 | €294 | -€143,273 | -99.8% |
| Profit (loss) for the period | 9904 | €307,336 | -€4,794 | -€312,131 | |
| Profit (loss) for the period to be appropriated | 9905 | €307,336 | -€4,794 | -€312,131 |
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 14 October 2026 via checked.be.