CREATIVE CONSTRUCTION and RENOVATION: what changed
What changed
CREATIVE CONSTRUCTION and RENOVATION
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€23.5m
2024 · -€52.6m+€76.1m
Equity
€12.1m
2024 · -€14.2m+€26.3m
Cash
€90,937
2024 · €223,270-€132,333
Balance sheet total
€42.0m
2024 · €41.9m+€150,170
Largest movements
Assets
- Receivables within one year -€6.8m
down €6.8m (-84.2%), from €8.1m to €1.3m
of which Other amounts receivable: -€6.4m
- Receivables after one year +€4.5m
up €4.5m (+33.9%), from €13.1m to €17.6m
- Tangible fixed assets +€2.5m
up €2.5m (+12.6%), from €20.2m to €22.7m
Equity and liabilities
- Provisions -€26.4m
down €26.4m (-67.0%), from €39.4m to €13.0m
of which Provisions for liabilities and charges: -€26.3m
- Profit (loss) carried forward +€23.7m
up €23.7m (+39.6%), from -€59.8m to -€36.1m
- Tax, wage and social debts +€4.6m
up €4.6m (+10,371%), from €44,049 to €4.6m
- Trade debts -€4.3m
down €4.3m (-93.7%), from €4.6m to €289,006
- Revaluation surpluses +€2.8m
up €2.8m (+17.3%), from €16.0m to €18.8m
Income statement
- Financial charges -€44.5m
down €44.5m (-94.3%), from €47.2m to €2.7m
of which Non-recurring financial charges: -€33.1m
- Gross operating margin +€24.0m
up €24.0m, from -€598,408 to €23.4m
- Financial income +€3.9m
up €3.9m (+740%), from €530,697 to €4.5m
of which Financial income: +€3.0m
- Write-downs -€371,012
down €371,012 (-27.2%), from €1.4m to €991,604
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
-€52.6m
Gross operating margin
+€24.0m
Depreciation
-€78,981
Write-downs
+€371,012
Other operating charges
-€104,903
Other operating items
+€3.6m
Financial income
+€3.9m
Financial charges
+€44.5m
Taxes
+€1
Deferred taxes and other
-€201,445
Result 2025
€23.5m
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
+€97,323
Investment
-€3.0m
Financing
+€2.8m
Cash 2024
€223,270
From operations (derived)
+€97,323
Net result for the year
+€23.5m
Depreciation
+€389,405
Receivables after one year
-€4.5m
Receivables within one year
+€6.8m
Provisions
-€26.4m
Trade debts
-€4.3m
Tax, wage and social debts
+€4.6m
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€3.0m
Financing
+€2.8m
Contributions, distributions and other
+€2.8m
Cash 2025
€90,937
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,887,348 | €42,037,517 | +€150,170 | +0.4% |
| Fixed assets | 21/28 | €20,470,687 | €23,078,938 | +€2.6m | +12.7% |
| Tangible fixed assets | 22/27 | €20,183,710 | €22,729,701 | +€2.5m | +12.6% |
| Land and buildings | 22 | €20,183,710 | €22,729,701 | +€2.5m | +12.6% |
| Financial fixed assets | 28 | €286,977 | €349,237 | +€62,260 | +21.7% |
| Current assets | 29/58 | €21,416,660 | €18,958,579 | -€2.5m | -11.5% |
| Amounts receivable after more than one year | 29 | €13,142,882 | €17,599,239 | +€4.5m | +33.9% |
| Other amounts receivable | 291 | €13,142,882 | €17,599,239 | +€4.5m | +33.9% |
| Amounts receivable within one year | 40/41 | €8,050,508 | €1,268,403 | -€6.8m | -84.2% |
| Trade receivables | 40 | €1,362,616 | €1,015,032 | -€347,584 | -25.5% |
| Other amounts receivable | 41 | €6,687,892 | €253,371 | -€6.4m | -96.2% |
| Cash at bank and in hand | 54/58 | €223,270 | €90,937 | -€132,333 | -59.3% |
| Total equity and liabilities | 10/49 | €41,887,348 | €42,037,517 | +€150,170 | +0.4% |
| Equity | 10/15 | -€14,163,583 | €12,118,153 | +€26.3m | |
| Contributions | 10/11 | €14,051,897 | €14,051,897 | = | 0.0% |
| Capital | 10 | €14,051,897 | €14,051,897 | = | 0.0% |
| Issued capital | 100 | €14,051,897 | €14,051,897 | = | 0.0% |
| Revaluation surpluses | 12 | €16,007,440 | €18,775,440 | +€2.8m | +17.3% |
| Reserves | 13 | €15,552,191 | €15,385,085 | -€167,106 | -1.1% |
| Non-distributable reserves | 130/1 | €2,604,979 | €2,604,979 | = | 0.0% |
| Legal reserve | 130 | €2,604,979 | €2,604,979 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,577,046 | €3,409,940 | -€167,106 | -4.7% |
| Distributable reserves | 133 | €9,370,166 | €9,370,166 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,775,111 | -€36,094,269 | +€23.7m | +39.6% |
| Provisions and deferred taxes | 16 | €39,406,221 | €13,012,833 | -€26.4m | -67.0% |
| Provisions for liabilities and charges | 160/5 | €37,749,489 | €11,441,126 | -€26.3m | -69.7% |
| Taxes | 161 | €36,749,489 | €10,441,126 | -€26.3m | -71.6% |
| Environmental obligations | 163 | €1,000,000 | €1,000,000 | = | 0.0% |
| Deferred taxes | 168 | €1,656,731 | €1,571,707 | -€85,025 | -5.1% |
| Amounts payable | 17/49 | €16,644,710 | €16,906,531 | +€261,822 | +1.6% |
| Amounts payable after more than one year | 17 | €12,000,000 | €12,000,000 | = | 0.0% |
| Financial debts | 170/4 | €12,000,000 | €12,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,644,710 | €4,906,531 | +€261,822 | +5.6% |
| Trade debts | 44 | €4,595,636 | €289,006 | -€4.3m | -93.7% |
| Suppliers | 440/4 | €4,595,636 | €289,006 | -€4.3m | -93.7% |
| Taxes, remuneration and social security | 45 | €44,049 | €4,612,500 | +€4.6m | +10,371% |
| Taxes | 450/3 | €44,049 | €4,612,500 | +€4.6m | +10,371% |
| Other amounts payable | 47/48 | €5,025 | €5,025 | = | 0.0% |
| Non-recurring operating income | 76A | €25 | €21,777,283 | +€21.8m | +87,494,006% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €310,423 | €389,405 | +€78,981 | +25.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,362,616 | €991,604 | -€371,012 | -27.2% |
| Other operating charges | 640/8 | €243,487 | €348,390 | +€104,903 | +43.1% |
| Non-recurring operating charges | 66A | €3,627,885 | - | -€3.6m | |
| Gross operating margin | 9900 | -€598,408 | €23,399,233 | +€24.0m | |
| Operating profit (loss) | 9901 | -€6,142,819 | €21,669,834 | +€27.8m | |
| Financial income | 75/76B | €530,697 | €4,457,381 | +€3.9m | +740% |
| Recurring financial income | 75 | €530,697 | €3,540,201 | +€3.0m | +567% |
| Non-recurring financial income | 76B | - | €917,180 | +€917,180 | |
| Financial charges | 65/66B | €47,234,081 | €2,698,501 | -€44.5m | -94.3% |
| Recurring financial charges | 65 | €11,745,081 | €299,675 | -€11.4m | -97.4% |
| Non-recurring financial charges | 66B | €35,489,000 | €2,398,826 | -€33.1m | -93.2% |
| Profit (loss) for the period before taxes | 9903 | -€52,846,203 | €23,428,714 | +€76.3m | |
| Transfer from deferred taxes | 780 | €286,470 | €85,025 | -€201,445 | -70.3% |
| Income taxes | 67/77 | €4 | €2 | -€1 | -35.4% |
| Profit (loss) for the period | 9904 | -€52,559,737 | €23,513,736 | +€76.1m | |
| Transfer from tax-exempt reserves | 789 | €573,259 | €167,106 | -€406,153 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,986,479 | €23,680,842 | +€75.7m |
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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 1 November 2026 via checked.be.