CREATIVITY: 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.
What changed
CREATIVITY
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€9,634
2024 · €173,546-€163,913
Equity
€1.0m
2024 · €1.0m+€9,634
Cash
€47,382
2024 · €33,566+€13,817
Balance sheet total
€1.5m
2024 · €1.5m-€86,957
Largest movements
Assets
- Current investments -€99,662
down €99,662 (-99.2%), from €100,448 to €786
- Tangible fixed assets -€20,376
down €20,376 (-1.9%), from €1.1m to €1.1m
of which Land and buildings: -€19,800
- Receivables within one year +€18,910
up €18,910 (+157.2%), from €12,027 to €30,937
of which Other amounts receivable: +€18,621
Equity and liabilities
- Debts after one year -€85,486
down €85,486 (-33.2%), from €257,193 to €171,707
Income statement
- Gross operating margin -€192,504
down €192,504 (-67.9%), from €283,389 to €90,886
- Taxes -€27,048
down €27,048 (-94.6%), from €28,580 to €1,532
- Financial charges -€2,849
down €2,849 (-22.4%), from €12,721 to €9,872
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.
Result 2024
€173,546
Gross operating margin
-€192,504
Depreciation
-€1,538
Other operating charges
+€34
Financial income
+€198
Financial charges
+€2,849
Taxes
+€27,048
Result 2025
€9,634
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.
From operations
+€60,837
Investment
+€44,817
Financing
-€91,837
Cash 2024
€33,566
From operations (derived)
+€60,837
Net result for the year
+€9,634
Depreciation
+€75,221
Receivables within one year
-€18,910
Deferred charges and accrued income
-€355
Provisions
-€438
Trade debts
-€253
Tax, wage and social debts
-€3,365
Other debts
-€730
Accrued charges and deferred income
+€33
Investment (derived)
+€44,817
Investment in fixed assets (net)
-€54,846
Current investments
+€99,662
Financing
-€91,837
Debts after one year
-€85,486
Current portion of long-term debt
-€6,351
Cash 2025
€47,382
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,541,944 | €1,454,987 | -€86,957 | -5.6% |
| Fixed assets | 21/28 | €1,088,747 | €1,068,371 | -€20,376 | -1.9% |
| Tangible fixed assets | 22/27 | €1,088,747 | €1,068,371 | -€20,376 | -1.9% |
| Land and buildings | 22 | €1,085,988 | €1,066,189 | -€19,800 | -1.8% |
| Plant, machinery and equipment | 23 | €2,759 | €2,183 | -€576 | -20.9% |
| Current assets | 29/58 | €453,197 | €386,616 | -€66,581 | -14.7% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Other amounts receivable | 291 | €300,000 | €300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,027 | €30,937 | +€18,910 | +157.2% |
| Trade receivables | 40 | €11,465 | €11,754 | +€289 | +2.5% |
| Other amounts receivable | 41 | €562 | €19,183 | +€18,621 | +3311.0% |
| Current investments | 50/53 | €100,448 | €786 | -€99,662 | -99.2% |
| Cash at bank and in hand | 54/58 | €33,566 | €47,382 | +€13,817 | +41.2% |
| Deferred charges and accrued income | 490/1 | €7,156 | €7,510 | +€355 | +5.0% |
| Total equity and liabilities | 10/49 | €1,541,944 | €1,454,987 | -€86,957 | -5.6% |
| Equity | 10/15 | €1,001,731 | €1,011,364 | +€9,634 | +1.0% |
| Contributions | 10/11 | €272,700 | €272,700 | = | 0.0% |
| Capital | 10 | €272,700 | €272,700 | = | 0.0% |
| Issued capital | 100 | €272,700 | €272,700 | = | 0.0% |
| Reserves | 13 | €729,031 | €738,664 | +€9,634 | +1.3% |
| Non-distributable reserves | 130/1 | €27,270 | €27,270 | = | 0.0% |
| Legal reserve | 130 | €27,270 | €27,270 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,083 | €15,769 | -€1,314 | -7.7% |
| Distributable reserves | 133 | €684,677 | €695,625 | +€10,948 | +1.6% |
| Provisions and deferred taxes | 16 | €5,694 | €5,256 | -€438 | -7.7% |
| Deferred taxes | 168 | €5,694 | €5,256 | -€438 | -7.7% |
| Amounts payable | 17/49 | €534,519 | €438,367 | -€96,152 | -18.0% |
| Amounts payable after more than one year | 17 | €257,193 | €171,707 | -€85,486 | -33.2% |
| Financial debts | 170/4 | €257,193 | €171,707 | -€85,486 | -33.2% |
| Amounts payable within one year | 42/48 | €276,232 | €265,533 | -€10,699 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €91,837 | €85,486 | -€6,351 | -6.9% |
| Trade debts | 44 | €12,925 | €12,672 | -€253 | -2.0% |
| Suppliers | 440/4 | €12,925 | €12,672 | -€253 | -2.0% |
| Taxes, remuneration and social security | 45 | €5,726 | €2,361 | -€3,365 | -58.8% |
| Taxes | 450/3 | €5,726 | €2,361 | -€3,365 | -58.8% |
| Other amounts payable | 47/48 | €165,744 | €165,014 | -€730 | -0.4% |
| Accrued charges and deferred income | 492/3 | €1,094 | €1,126 | +€33 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,683 | €75,221 | +€1,538 | +2.1% |
| Other operating charges | 640/8 | €3,442 | €3,408 | -€34 | -1.0% |
| Gross operating margin | 9900 | €283,389 | €90,886 | -€192,504 | -67.9% |
| Operating profit (loss) | 9901 | €206,265 | €12,256 | -€194,008 | -94.1% |
| Financial income | 75/76B | €8,144 | €8,343 | +€198 | +2.4% |
| Recurring financial income | 75 | €8,144 | €8,343 | +€198 | +2.4% |
| Financial charges | 65/66B | €12,721 | €9,872 | -€2,849 | -22.4% |
| Recurring financial charges | 65 | €12,721 | €9,872 | -€2,849 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €201,688 | €10,728 | -€190,961 | -94.7% |
| Transfer from deferred taxes | 780 | €438 | €438 | = | 0.0% |
| Income taxes | 67/77 | €28,580 | €1,532 | -€27,048 | -94.6% |
| Profit (loss) for the period | 9904 | €173,546 | €9,634 | -€163,913 | -94.4% |
| Transfer from tax-exempt reserves | 789 | €1,314 | €1,314 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €174,860 | €10,948 | -€163,913 | -93.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.