CREATE: 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.
CREATE
Largest movements
- Cash +€263,160
up €263,160 (+77.1%), from €341,204 to €604,364
mainly Net result for the year (+€542,824) and Other debts (+€467,747)
- Current investments +€200,000
up €200,000 (+25.0%), from €800,000 to €1.0m
- Receivables within one year +€173,261
up €173,261 (+46.4%), from €373,634 to €546,894
of which Trade receivables: +€189,186
- Stocks and contracts +€25,742
up €25,742 (+26.5%), from €97,073 to €122,815
- Other debts +€467,747
up €467,747 (+51.7%), from €905,026 to €1.4m
- Tax, wage and social debts +€130,567
up €130,567 (+125.0%), from €104,451 to €235,017
of which Taxes: +€125,714
- Trade debts +€49,125
up €49,125 (+94.1%), from €52,216 to €101,341
- Gross operating margin +€237,640
up €237,640 (+35.7%), from €665,292 to €902,932
- Taxes +€58,881
up €58,881 (+47.9%), from €122,838 to €181,719
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,663,107 | €2,323,369 | +€660,262 | +39.7% |
| Fixed assets | 21/28 | €48,300 | €43,512 | -€4,788 | -9.9% |
| Tangible fixed assets | 22/27 | €47,841 | €43,054 | -€4,788 | -10.0% |
| Land and buildings | 22 | €34,578 | €33,743 | -€835 | -2.4% |
| Furniture and vehicles | 24 | €13,264 | €9,311 | -€3,953 | -29.8% |
| Financial fixed assets | 28 | €459 | €459 | = | 0.0% |
| Current assets | 29/58 | €1,614,807 | €2,279,857 | +€665,050 | +41.2% |
| Stocks and contracts in progress | 3 | €97,073 | €122,815 | +€25,742 | +26.5% |
| Stocks | 30/36 | €97,073 | €122,815 | +€25,742 | +26.5% |
| Amounts receivable within one year | 40/41 | €373,634 | €546,894 | +€173,261 | +46.4% |
| Trade receivables | 40 | €357,025 | €546,210 | +€189,186 | +53.0% |
| Other amounts receivable | 41 | €16,609 | €684 | -€15,925 | -95.9% |
| Current investments | 50/53 | €800,000 | €1,000,000 | +€200,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €341,204 | €604,364 | +€263,160 | +77.1% |
| Deferred charges and accrued income | 490/1 | €2,896 | €5,783 | +€2,887 | +99.7% |
| Total equity and liabilities | 10/49 | €1,663,107 | €2,323,369 | +€660,262 | +39.7% |
| Equity | 10/15 | €601,414 | €614,238 | +€12,824 | +2.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €156,889 | €166,889 | +€10,000 | +6.4% |
| Non-distributable reserves | 130/1 | €6,889 | €6,889 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €689 | €689 | = | 0.0% |
| Distributable reserves | 133 | €150,000 | €160,000 | +€10,000 | +6.7% |
| Profit (loss) carried forward | 14 | €382,525 | €385,349 | +€2,824 | +0.7% |
| Amounts payable | 17/49 | €1,061,693 | €1,709,131 | +€647,438 | +61.0% |
| Amounts payable within one year | 42/48 | €1,061,693 | €1,709,131 | +€647,438 | +61.0% |
| Trade debts | 44 | €52,216 | €101,341 | +€49,125 | +94.1% |
| Suppliers | 440/4 | €52,216 | €101,341 | +€49,125 | +94.1% |
| Taxes, remuneration and social security | 45 | €104,451 | €235,017 | +€130,567 | +125.0% |
| Taxes | 450/3 | €82,601 | €208,315 | +€125,714 | +152.2% |
| Remuneration and social security | 454/9 | €21,850 | €26,702 | +€4,853 | +22.2% |
| Other amounts payable | 47/48 | €905,026 | €1,372,773 | +€467,747 | +51.7% |
| Non-recurring operating income | 76A | €32,118 | €31,079 | -€1,039 | -3.2% |
| Remuneration, social security and pensions | 62 | €128,964 | €129,400 | +€436 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,788 | €4,788 | = | 0.0% |
| Other operating charges | 640/8 | €6,839 | €6,776 | -€63 | -0.9% |
| Gross operating margin | 9900 | €665,292 | €902,932 | +€237,640 | +35.7% |
| Operating profit (loss) | 9901 | €524,701 | €761,968 | +€237,267 | +45.2% |
| Financial income | 75/76B | €24,742 | €17,935 | -€6,807 | -27.5% |
| Recurring financial income | 75 | €24,742 | €17,935 | -€6,807 | -27.5% |
| Financial charges | 65/66B | €47,230 | €55,360 | +€8,130 | +17.2% |
| Recurring financial charges | 65 | €47,230 | €55,360 | +€8,130 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €502,213 | €724,543 | +€222,330 | +44.3% |
| Income taxes | 67/77 | €122,838 | €181,719 | +€58,881 | +47.9% |
| Profit (loss) for the period | 9904 | €379,375 | €542,824 | +€163,449 | +43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €379,375 | €542,824 | +€163,449 | +43.1% |
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 28 September 2026 via checked.be.