CREASED: 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.
CREASED
Largest movements
- Current investments +€95,164
new in 2025: €95,164
- Cash -€32,732
down €32,732 (-59.8%), from €54,710 to €21,979
mainly Current investments (-€95,164) and Receivables within one year (-€2,328)
- Receivables within one year +€2,328
up €2,328 (+49.6%), from €4,692 to €7,020
of which Trade receivables: +€1,767
- Profit (loss) carried forward +€59,561
up €59,561 (+76.3%), from €78,033 to €137,593
- Other debts +€2,071
up €2,071 (+71.8%), from €2,883 to €4,954
- Tax, wage and social debts +€1,896
up €1,896 (+22.1%), from €8,578 to €10,474
- Gross operating margin -€22,744
down €22,744 (-23.3%), from €97,708 to €74,964
- Taxes -€4,382
down €4,382 (-22.3%), from €19,650 to €15,268
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 | €97,382 | €161,591 | +€64,208 | +65.9% |
| Fixed assets | 21/28 | €36,405 | €37,428 | +€1,023 | +2.8% |
| Intangible fixed assets | 21 | €1,604 | €1,409 | -€195 | -12.2% |
| Financial fixed assets | 28 | €34,801 | €36,019 | +€1,218 | +3.5% |
| Current assets | 29/58 | €60,977 | €124,162 | +€63,185 | +104% |
| Amounts receivable within one year | 40/41 | €4,692 | €7,020 | +€2,328 | +49.6% |
| Trade receivables | 40 | €4,341 | €6,108 | +€1,767 | +40.7% |
| Other amounts receivable | 41 | €352 | €912 | +€560 | +159% |
| Current investments | 50/53 | - | €95,164 | +€95,164 | |
| Cash at bank and in hand | 54/58 | €54,710 | €21,979 | -€32,732 | -59.8% |
| Deferred charges and accrued income | 490/1 | €1,574 | €0 | -€1,574 | -100% |
| Total equity and liabilities | 10/49 | €97,382 | €161,591 | +€64,208 | +65.9% |
| Equity | 10/15 | €80,533 | €140,093 | +€59,561 | +74.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,033 | €137,593 | +€59,561 | +76.3% |
| Amounts payable | 17/49 | €16,849 | €21,497 | +€4,648 | +27.6% |
| Amounts payable within one year | 42/48 | €16,849 | €21,497 | +€4,648 | +27.6% |
| Trade debts | 44 | €3,560 | €4,241 | +€680 | +19.1% |
| Suppliers | 440/4 | €3,560 | €4,241 | +€680 | +19.1% |
| Advances received on contracts in progress | 46 | €1,828 | €1,828 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,578 | €10,474 | +€1,896 | +22.1% |
| Taxes | 450/3 | €8,578 | €10,474 | +€1,896 | +22.1% |
| Other amounts payable | 47/48 | €2,883 | €4,954 | +€2,071 | +71.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €346 | €195 | -€151 | -43.6% |
| Other operating charges | 640/8 | €768 | €1,509 | +€741 | +96.6% |
| Gross operating margin | 9900 | €97,708 | €74,964 | -€22,744 | -23.3% |
| Operating profit (loss) | 9901 | €96,595 | €73,260 | -€23,334 | -24.2% |
| Financial income | 75/76B | €1,311 | €1,580 | +€269 | +20.5% |
| Recurring financial income | 75 | €1,311 | €1,580 | +€269 | +20.5% |
| Financial charges | 65/66B | €223 | €11 | -€211 | -94.9% |
| Recurring financial charges | 65 | €223 | €11 | -€211 | -94.9% |
| Profit (loss) for the period before taxes | 9903 | €97,683 | €74,829 | -€22,854 | -23.4% |
| Income taxes | 67/77 | €19,650 | €15,268 | -€4,382 | -22.3% |
| Profit (loss) for the period | 9904 | €78,033 | €59,561 | -€18,472 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,033 | €59,561 | -€18,472 | -23.7% |
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.