Creatibouw: what changed
What changed
Creatibouw
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€174,716
2024 · €191,736-€17,020
Equity
€1.1m
2024 · €1.1m-€12,484
Cash
€211,347
2024 · €290,257-€78,909
Balance sheet total
€3.0m
2024 · €3.3m-€350,608
Largest movements
Assets
- Stocks and contracts -€171,848
down €171,848 (-32.6%), from €527,230 to €355,382
of which Contracts in progress: -€174,482
- Receivables within one year -€123,316
down €123,316 (-49.6%), from €248,630 to €125,314
of which Trade receivables: -€92,328
- Tangible fixed assets +€83,268
up €83,268 (+12.8%), from €652,829 to €736,097
of which Leasing and similar rights: +€136,106
- Cash -€78,909
down €78,909 (-27.2%), from €290,257 to €211,347
mainly Short-term financial debts (-€587,442) and Investment in fixed assets (net) (-€247,980)
- Receivables after one year -€60,682
down €60,682 (-3.8%), from €1.6m to €1.5m
Equity and liabilities
- Short-term financial debts -€587,442
down €587,442 (-50.4%), from €1.2m to €577,500
- Debts after one year +€235,405
up €235,405 (+62.1%), from €379,086 to €614,491
of which Other amounts payable: +€229,035
- Trade debts +€52,628
up €52,628 (+21.4%), from €246,066 to €298,694
Income statement
- Gross operating margin +€176,304
up €176,304 (+28.6%), from €615,517 to €791,821
- Staff costs +€115,238
up €115,238 (+49.7%), from €231,926 to €347,164
- Financial charges +€51,523
up €51,523 (+140%), from €36,728 to €88,251
- Taxes +€47,616
up €47,616 (+178%), from €26,758 to €74,375
- Depreciation +€20,897
up €20,897 (+14.5%), from €143,815 to €164,712
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€191,736
Gross operating margin
+€176,304
Staff costs
-€115,238
Depreciation
-€20,897
Provisions
-€255
Other operating charges
+€22
Other operating items
-€1,875
Financial income
+€4,059
Financial charges
-€51,523
Taxes
-€47,616
Deferred taxes and other
+€40,000
Result 2025
€174,716
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€723,498
Investment
-€247,980
Financing
-€554,427
Cash 2024
€290,257
From operations (derived)
+€723,498
Net result for the year
+€174,716
Depreciation
+€164,712
Receivables after one year
+€60,682
Stocks and contracts
+€171,848
Receivables within one year
+€123,316
Deferred charges and accrued income
-€880
Provisions
-€3,272
Trade debts
+€52,628
Tax, wage and social debts
-€6,350
Advances received
+€3,025
Other debts
-€16,927
Investment (derived)
-€247,980
Investment in fixed assets (net)
-€247,980
Financing
-€554,427
Debts after one year
+€235,405
Current portion of long-term debt
-€15,190
Short-term financial debts
-€587,442
Contributions, distributions and other
-€187,200
Cash 2025
€211,347
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,324,090 | €2,973,483 | -€350,608 | -10.5% |
| Fixed assets | 21/28 | €652,829 | €736,097 | +€83,268 | +12.8% |
| Tangible fixed assets | 22/27 | €652,829 | €736,097 | +€83,268 | +12.8% |
| Plant, machinery and equipment | 23 | €281,131 | €247,893 | -€33,239 | -11.8% |
| Furniture and vehicles | 24 | €32,189 | €29,775 | -€2,414 | -7.5% |
| Leasing and similar rights | 25 | €257,844 | €393,950 | +€136,106 | +52.8% |
| Other tangible fixed assets | 26 | €81,664 | €64,479 | -€17,185 | -21.0% |
| Current assets | 29/58 | €2,671,261 | €2,237,385 | -€433,876 | -16.2% |
| Amounts receivable after more than one year | 29 | €1,587,492 | €1,526,811 | -€60,682 | -3.8% |
| Other amounts receivable | 291 | €1,587,492 | €1,526,811 | -€60,682 | -3.8% |
| Stocks and contracts in progress | 3 | €527,230 | €355,382 | -€171,848 | -32.6% |
| Stocks | 30/36 | €24,890 | €27,524 | +€2,634 | +10.6% |
| Contracts in progress | 37 | €502,340 | €327,858 | -€174,482 | -34.7% |
| Amounts receivable within one year | 40/41 | €248,630 | €125,314 | -€123,316 | -49.6% |
| Trade receivables | 40 | €120,692 | €28,364 | -€92,328 | -76.5% |
| Other amounts receivable | 41 | €127,938 | €96,950 | -€30,988 | -24.2% |
| Cash at bank and in hand | 54/58 | €290,257 | €211,347 | -€78,909 | -27.2% |
| Deferred charges and accrued income | 490/1 | €17,652 | €18,532 | +€880 | +5.0% |
| Total equity and liabilities | 10/49 | €3,324,090 | €2,973,483 | -€350,608 | -10.5% |
| Equity | 10/15 | €1,075,966 | €1,063,482 | -€12,484 | -1.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,055,966 | €1,043,482 | -€12,484 | -1.2% |
| Tax-exempt reserves | 132 | €110,918 | €101,836 | -€9,082 | -8.2% |
| Distributable reserves | 133 | €945,048 | €941,646 | -€3,402 | -0.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €40,368 | €37,095 | -€3,272 | -8.1% |
| Provisions for liabilities and charges | 160/5 | €3,395 | €3,150 | -€245 | -7.2% |
| Other liabilities and charges | 164/5 | €3,395 | €3,150 | -€245 | -7.2% |
| Deferred taxes | 168 | €36,973 | €33,945 | -€3,027 | -8.2% |
| Amounts payable | 17/49 | €2,207,757 | €1,872,906 | -€334,851 | -15.2% |
| Amounts payable after more than one year | 17 | €379,086 | €614,491 | +€235,405 | +62.1% |
| Financial debts | 170/4 | €249,086 | €255,456 | +€6,370 | +2.6% |
| Other amounts payable | 178/9 | €130,000 | €359,035 | +€229,035 | +176% |
| Amounts payable within one year | 42/48 | €1,828,670 | €1,258,415 | -€570,256 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €194,754 | €179,565 | -€15,190 | -7.8% |
| Financial debts | 43 | €1,164,942 | €577,500 | -€587,442 | -50.4% |
| Credit institutions | 430/8 | €1,164,942 | €577,500 | -€587,442 | -50.4% |
| Trade debts | 44 | €246,066 | €298,694 | +€52,628 | +21.4% |
| Suppliers | 440/4 | €246,066 | €298,694 | +€52,628 | +21.4% |
| Advances received on contracts in progress | 46 | €0 | €3,025 | +€3,025 | |
| Taxes, remuneration and social security | 45 | €18,781 | €12,430 | -€6,350 | -33.8% |
| Taxes | 450/3 | €7,504 | €8,014 | +€510 | +6.8% |
| Remuneration and social security | 454/9 | €11,277 | €4,417 | -€6,860 | -60.8% |
| Other amounts payable | 47/48 | €204,127 | €187,200 | -€16,927 | -8.3% |
| Non-recurring operating income | 76A | - | €5,476 | +€5,476 | |
| Remuneration, social security and pensions | 62 | €231,926 | €347,164 | +€115,238 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,815 | €164,712 | +€20,897 | +14.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€500 | -€245 | +€255 | +51.0% |
| Other operating charges | 640/8 | €6,328 | €6,306 | -€22 | -0.4% |
| Non-recurring operating charges | 66A | €0 | €1,875 | +€1,875 | |
| Gross operating margin | 9900 | €615,517 | €791,821 | +€176,304 | +28.6% |
| Operating profit (loss) | 9901 | €233,948 | €272,009 | +€38,061 | +16.3% |
| Financial income | 75/76B | €58,246 | €62,306 | +€4,059 | +7.0% |
| Recurring financial income | 75 | €58,246 | €62,306 | +€4,059 | +7.0% |
| Financial charges | 65/66B | €36,728 | €88,251 | +€51,523 | +140% |
| Recurring financial charges | 65 | €36,728 | €88,251 | +€51,523 | +140% |
| Profit (loss) for the period before taxes | 9903 | €255,466 | €246,063 | -€9,403 | -3.7% |
| Transfer from deferred taxes | 780 | €3,027 | €3,027 | = | 0.0% |
| Transfer to deferred taxes | 680 | €40,000 | €0 | -€40,000 | -100% |
| Income taxes | 67/77 | €26,758 | €74,375 | +€47,616 | +178% |
| Profit (loss) for the period | 9904 | €191,736 | €174,716 | -€17,020 | -8.9% |
| Transfer from tax-exempt reserves | 789 | €9,082 | €9,082 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €120,000 | €0 | -€120,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €80,818 | €183,798 | +€102,980 | +127% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.