CREAPAL: 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.
What changed
CREAPAL
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€313,638
2024 · €649,979-€336,341
Equity
€4.9m
2024 · €4.8m+€71,350
Cash
€152,993
2024 · €705,854-€552,860
Balance sheet total
€7.9m
2024 · €8.4m-€523,823
Largest movements
Assets
- Cash -€552,860
down €552,860 (-78.3%), from €705,854 to €152,993
mainly Debts after one year (-€303,125) and Current investments (-€300,000)
- Tangible fixed assets -€316,288
down €316,288 (-4.4%), from €7.1m to €6.8m
of which Land and buildings: -€291,547
- Current investments +€300,000
up €300,000 (+119%), from €252,600 to €552,600
Equity and liabilities
- Debts after one year -€303,125
down €303,125 (-17.4%), from €1.7m to €1.4m
- Other debts -€263,112
down €263,112 (-18.6%), from €1.4m to €1.2m
Income statement
- Financial income -€385,789
down €385,789 (-99.9%), from €386,094 to €305
- Financial charges -€33,963
down €33,963 (-20.2%), from €168,139 to €134,175
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
€649,979
Turnover
+€8,297
Other operating income
-€533
Services and other goods
-€846
Depreciation
+€8,449
Other operating charges
-€2,702
Financial income
-€385,789
Financial charges
+€33,963
Taxes
+€2,818
Result 2025
€313,638
raises the resultlowers the result
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.
From operations
+€538,071
Investment
-€545,518
Financing
-€545,413
Cash 2024
€705,854
From operations (derived)
+€538,071
Net result for the year
+€313,638
Depreciation
+€561,805
Receivables within one year
-€45,037
Deferred charges and accrued income
-€288
Trade debts
+€21,990
Tax, wage and social debts
-€29,003
Other debts
-€263,112
Accrued charges and deferred income
-€21,924
Investment (derived)
-€545,518
Investment in fixed assets (net)
-€245,518
Current investments
-€300,000
Financing
-€545,413
Debts after one year
-€303,125
Contributions, distributions and other
-€242,288
Cash 2025
€152,993
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,410,780 | €7,886,957 | -€523,823 | -6.2% |
| Fixed assets | 21/28 | €7,315,201 | €6,998,913 | -€316,288 | -4.3% |
| Tangible fixed assets | 22/27 | €7,136,204 | €6,819,916 | -€316,288 | -4.4% |
| Land and buildings | 22 | €7,107,714 | €6,816,167 | -€291,547 | -4.1% |
| Furniture and vehicles | 24 | €28,490 | €3,749 | -€24,741 | -86.8% |
| Financial fixed assets | 28 | €178,997 | €178,997 | = | 0.0% |
| Affiliated companies | 280/1 | €178,997 | €178,997 | = | 0.0% |
| Participating interests | 280 | €178,997 | €178,997 | = | 0.0% |
| Current assets | 29/58 | €1,095,579 | €888,044 | -€207,535 | -18.9% |
| Amounts receivable within one year | 40/41 | €137,125 | €182,163 | +€45,037 | +32.8% |
| Trade receivables | 40 | €135,335 | €182,163 | +€46,828 | +34.6% |
| Other amounts receivable | 41 | €1,791 | - | -€1,791 | |
| Current investments | 50/53 | €252,600 | €552,600 | +€300,000 | +119% |
| Other investments | 51/53 | €252,600 | €552,600 | +€300,000 | +119% |
| Cash at bank and in hand | 54/58 | €705,854 | €152,993 | -€552,860 | -78.3% |
| Deferred charges and accrued income | 490/1 | - | €288 | +€288 | |
| Total equity and liabilities | 10/49 | €8,410,780 | €7,886,957 | -€523,823 | -6.2% |
| Equity | 10/15 | €4,827,293 | €4,898,642 | +€71,350 | +1.5% |
| Contributions | 10/11 | €360,825 | €360,825 | = | 0.0% |
| Capital | 10 | €360,825 | €360,825 | = | 0.0% |
| Issued capital | 100 | €360,825 | €360,825 | = | 0.0% |
| Reserves | 13 | €4,466,000 | €4,537,000 | +€71,000 | +1.6% |
| Non-distributable reserves | 130/1 | €144,819 | €144,819 | = | 0.0% |
| Legal reserve | 130 | €144,819 | €144,819 | = | 0.0% |
| Distributable reserves | 133 | €4,321,181 | €4,392,181 | +€71,000 | +1.6% |
| Profit (loss) carried forward | 14 | €468 | €818 | +€350 | +74.8% |
| Amounts payable | 17/49 | €3,583,487 | €2,988,314 | -€595,173 | -16.6% |
| Amounts payable after more than one year | 17 | €1,742,969 | €1,439,844 | -€303,125 | -17.4% |
| Financial debts | 170/4 | €1,742,969 | €1,439,844 | -€303,125 | -17.4% |
| Credit institutions | 173 | €1,742,969 | €1,439,844 | -€303,125 | -17.4% |
| Amounts payable within one year | 42/48 | €1,757,587 | €1,487,463 | -€270,124 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €303,125 | €303,125 | = | 0.0% |
| Trade debts | 44 | €6,389 | €28,379 | +€21,990 | +344% |
| Suppliers | 440/4 | €6,389 | €28,379 | +€21,990 | +344% |
| Taxes, remuneration and social security | 45 | €33,308 | €4,305 | -€29,003 | -87.1% |
| Taxes | 450/3 | €33,308 | €4,305 | -€29,003 | -87.1% |
| Other amounts payable | 47/48 | €1,414,766 | €1,151,654 | -€263,112 | -18.6% |
| Accrued charges and deferred income | 492/3 | €82,931 | €61,007 | -€21,924 | -26.4% |
| Operating income | 70/76A | €1,218,721 | €1,226,486 | +€7,764 | +0.6% |
| Turnover | 70 | €1,217,884 | €1,226,181 | +€8,297 | +0.7% |
| Other operating income | 74 | €838 | €305 | -€533 | -63.6% |
| Operating charges | 60/66A | €696,636 | €691,734 | -€4,902 | -0.7% |
| Services and other goods | 61 | €40,545 | €41,391 | +€846 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €570,255 | €561,805 | -€8,449 | -1.5% |
| Other operating charges | 640/8 | €85,836 | €88,538 | +€2,702 | +3.1% |
| Operating profit (loss) | 9901 | €522,085 | €534,751 | +€12,666 | +2.4% |
| Financial income | 75/76B | €386,094 | €305 | -€385,789 | -99.9% |
| Recurring financial income | 75 | €386,094 | €305 | -€385,789 | -99.9% |
| Income from financial fixed assets | 750 | €379,920 | - | -€379,920 | |
| Income from current assets | 751 | €6,174 | €305 | -€5,869 | -95.1% |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €168,139 | €134,175 | -€33,963 | -20.2% |
| Recurring financial charges | 65 | €168,139 | €134,175 | -€33,963 | -20.2% |
| Debt charges | 650 | €167,578 | €133,620 | -€33,958 | -20.3% |
| Other financial charges | 652/9 | €561 | €556 | -€5 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €740,040 | €400,881 | -€339,159 | -45.8% |
| Income taxes | 67/77 | €90,061 | €87,243 | -€2,818 | -3.1% |
| Taxes | 670/3 | €90,061 | €87,243 | -€2,818 | -3.1% |
| Profit (loss) for the period | 9904 | €649,979 | €313,638 | -€336,341 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €649,979 | €313,638 | -€336,341 | -51.7% |
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.