CREATEL: 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.
CREATEL
Largest movements
- Stocks and contracts -€90,386
down €90,386 (-24.3%), from €371,792 to €281,406
- Deferred charges and accrued income -€42,481
down €42,481 (-92.9%), from €45,714 to €3,233
- Receivables within one year +€31,443
up €31,443 (+16.7%), from €187,853 to €219,296
of which Trade receivables: +€24,063
- Tangible fixed assets +€15,655
up €15,655 (+50.9%), from €30,783 to €46,438
of which Furniture and vehicles: +€15,704
- Profit (loss) carried forward -€294,631
down €294,631, from €141,324 to -€153,307
- Current portion of long-term debt +€106,213
up €106,213 (+1,233%), from €8,613 to €114,826
- Other debts +€47,258
up €47,258 (+90.8%), from €52,043 to €99,301
- Trade debts +€35,788
up €35,788 (+16.2%), from €220,496 to €256,284
- Debts after one year +€8,266
up €8,266 (+46.7%), from €17,698 to €25,964
- Gross operating margin -€163,081
down €163,081 (-83.7%), from €194,947 to €31,866
- Staff costs +€124,856
up €124,856 (+71.6%), from €174,368 to €299,224
- Depreciation +€7,358
up €7,358 (+257%), from €2,861 to €10,219
- Financial income +€2,717
up €2,717 (+230%), from €1,179 to €3,896
- Write-downs +€2,232
no longer reported in 2025 (was -€2,232)
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 | €637,131 | €550,691 | -€86,440 | -13.6% |
| Fixed assets | 21/28 | €30,783 | €46,438 | +€15,655 | +50.9% |
| Tangible fixed assets | 22/27 | €30,783 | €46,438 | +€15,655 | +50.9% |
| Furniture and vehicles | 24 | €30,685 | €46,389 | +€15,704 | +51.2% |
| Other tangible fixed assets | 26 | €98 | €49 | -€49 | -50.0% |
| Current assets | 29/58 | €606,348 | €504,253 | -€102,095 | -16.8% |
| Stocks and contracts in progress | 3 | €371,792 | €281,406 | -€90,386 | -24.3% |
| Stocks | 30/36 | €371,792 | €281,406 | -€90,386 | -24.3% |
| Amounts receivable within one year | 40/41 | €187,853 | €219,296 | +€31,443 | +16.7% |
| Trade receivables | 40 | €164,541 | €188,604 | +€24,063 | +14.6% |
| Other amounts receivable | 41 | €23,312 | €30,692 | +€7,380 | +31.7% |
| Cash at bank and in hand | 54/58 | €989 | €318 | -€671 | -67.8% |
| Deferred charges and accrued income | 490/1 | €45,714 | €3,233 | -€42,481 | -92.9% |
| Total equity and liabilities | 10/49 | €637,131 | €550,691 | -€86,440 | -13.6% |
| Equity | 10/15 | €209,494 | -€85,137 | -€294,631 | |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,324 | -€153,307 | -€294,631 | |
| Amounts payable | 17/49 | €427,637 | €635,828 | +€208,191 | +48.7% |
| Amounts payable after more than one year | 17 | €17,698 | €25,964 | +€8,266 | +46.7% |
| Financial debts | 170/4 | €17,698 | €25,964 | +€8,266 | +46.7% |
| Amounts payable within one year | 42/48 | €409,939 | €609,864 | +€199,925 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | €8,613 | €114,826 | +€106,213 | +1,233% |
| Financial debts | 43 | €97,297 | €100,250 | +€2,953 | +3.0% |
| Credit institutions | 430/8 | €97,297 | €100,250 | +€2,953 | +3.0% |
| Trade debts | 44 | €220,496 | €256,284 | +€35,788 | +16.2% |
| Suppliers | 440/4 | €220,496 | €256,284 | +€35,788 | +16.2% |
| Taxes, remuneration and social security | 45 | €31,490 | €39,203 | +€7,713 | +24.5% |
| Taxes | 450/3 | €10,772 | €21,852 | +€11,080 | +103% |
| Remuneration and social security | 454/9 | €20,718 | €17,351 | -€3,367 | -16.3% |
| Other amounts payable | 47/48 | €52,043 | €99,301 | +€47,258 | +90.8% |
| Remuneration, social security and pensions | 62 | €174,368 | €299,224 | +€124,856 | +71.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,861 | €10,219 | +€7,358 | +257% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,232 | - | +€2,232 | |
| Other operating charges | 640/8 | €8,278 | €9,313 | +€1,035 | +12.5% |
| Non-recurring operating charges | 66A | €2,319 | - | -€2,319 | |
| Gross operating margin | 9900 | €194,947 | €31,866 | -€163,081 | -83.7% |
| Operating profit (loss) | 9901 | €9,353 | -€286,890 | -€296,243 | |
| Financial income | 75/76B | €1,179 | €3,896 | +€2,717 | +230% |
| Recurring financial income | 75 | €1,179 | €3,896 | +€2,717 | +230% |
| Financial charges | 65/66B | €11,842 | €12,186 | +€344 | +2.9% |
| Recurring financial charges | 65 | €11,842 | €12,186 | +€344 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,310 | -€295,180 | -€293,870 | -22,433% |
| Income taxes | 67/77 | €169 | -€549 | -€718 | |
| Profit (loss) for the period | 9904 | -€1,479 | -€294,631 | -€293,152 | -19,821% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,479 | -€294,631 | -€293,152 | -19,821% |
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 15 October 2026 via checked.be.