CREATO: 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.
CREATO
Largest movements
- Cash -€135,226
down €135,226 (-71.8%), from €188,375 to €53,148
mainly Contributions, distributions and other (-€63,482) and Debts after one year (-€53,261)
- Receivables within one year +€40,745
up €40,745 (+39.0%), from €104,360 to €145,105
of which Trade receivables: +€38,300
- Stocks and contracts -€30,192
down €30,192 (-26.0%), from €116,042 to €85,850
- Intangible fixed assets -€26,758
down €26,758 (-21.4%), from €125,022 to €98,263
- Tangible fixed assets -€19,831
down €19,831 (-4.0%), from €491,754 to €471,923
of which Land and buildings: -€16,666
- Reserves -€60,105
down €60,105 (-18.7%), from €321,544 to €261,440
- Debts after one year -€53,261
down €53,261 (-12.4%), from €429,975 to €376,713
- Trade debts -€44,311
down €44,311 (-26.2%), from €169,100 to €124,790
- Current portion of long-term debt -€16,892
down €16,892 (-24.1%), from €70,153 to €53,261
- Gross operating margin -€56,919
down €56,919 (-27.7%), from €205,547 to €148,628
- Depreciation +€13,869
up €13,869 (+30.6%), from €45,284 to €59,153
- Taxes -€13,863
down €13,863 (-75.6%), from €18,329 to €4,466
- Financial charges -€5,172
down €5,172 (-19.6%), from €26,405 to €21,233
- Staff costs -€4,128
down €4,128 (-7.6%), from €54,453 to €50,325
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 | €1,032,846 | €861,046 | -€171,800 | -16.6% |
| Fixed assets | 21/28 | €617,301 | €570,712 | -€46,589 | -7.5% |
| Intangible fixed assets | 21 | €125,022 | €98,263 | -€26,758 | -21.4% |
| Tangible fixed assets | 22/27 | €491,754 | €471,923 | -€19,831 | -4.0% |
| Land and buildings | 22 | €459,556 | €442,890 | -€16,666 | -3.6% |
| Plant, machinery and equipment | 23 | €18,583 | €18,140 | -€442 | -2.4% |
| Furniture and vehicles | 24 | €2,856 | €3,579 | +€723 | +25.3% |
| Leasing and similar rights | 25 | €10,760 | €3,684 | -€7,076 | -65.8% |
| Other tangible fixed assets | 26 | - | €3,631 | +€3,631 | |
| Financial fixed assets | 28 | €525 | €525 | = | 0.0% |
| Current assets | 29/58 | €415,545 | €290,335 | -€125,211 | -30.1% |
| Stocks and contracts in progress | 3 | €116,042 | €85,850 | -€30,192 | -26.0% |
| Stocks | 30/36 | €116,042 | €85,850 | -€30,192 | -26.0% |
| Amounts receivable within one year | 40/41 | €104,360 | €145,105 | +€40,745 | +39.0% |
| Trade receivables | 40 | €86,561 | €124,860 | +€38,300 | +44.2% |
| Other amounts receivable | 41 | €17,799 | €20,244 | +€2,445 | +13.7% |
| Cash at bank and in hand | 54/58 | €188,375 | €53,148 | -€135,226 | -71.8% |
| Deferred charges and accrued income | 490/1 | €6,769 | €6,232 | -€537 | -7.9% |
| Total equity and liabilities | 10/49 | €1,032,846 | €861,046 | -€171,800 | -16.6% |
| Equity | 10/15 | €333,944 | €273,840 | -€60,105 | -18.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €321,544 | €261,440 | -€60,105 | -18.7% |
| Distributable reserves | 133 | €321,544 | €261,440 | -€60,105 | -18.7% |
| Amounts payable | 17/49 | €698,902 | €587,207 | -€111,695 | -16.0% |
| Amounts payable after more than one year | 17 | €429,975 | €376,713 | -€53,261 | -12.4% |
| Financial debts | 170/4 | €429,975 | €376,713 | -€53,261 | -12.4% |
| Amounts payable within one year | 42/48 | €268,928 | €210,494 | -€58,434 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €70,153 | €53,261 | -€16,892 | -24.1% |
| Financial debts | 43 | €2,012 | €3,020 | +€1,008 | +50.1% |
| Credit institutions | 430/8 | €2,012 | €3,020 | +€1,008 | +50.1% |
| Trade debts | 44 | €169,100 | €124,790 | -€44,311 | -26.2% |
| Suppliers | 440/4 | €169,100 | €124,790 | -€44,311 | -26.2% |
| Taxes, remuneration and social security | 45 | €17,898 | €27,551 | +€9,653 | +53.9% |
| Taxes | 450/3 | €10,421 | €20,449 | +€10,028 | +96.2% |
| Remuneration and social security | 454/9 | €7,477 | €7,102 | -€375 | -5.0% |
| Other amounts payable | 47/48 | €9,764 | €1,871 | -€7,893 | -80.8% |
| Non-recurring operating income | 76A | €9,620 | - | -€9,620 | |
| Remuneration, social security and pensions | 62 | €54,453 | €50,325 | -€4,128 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,284 | €59,153 | +€13,869 | +30.6% |
| Other operating charges | 640/8 | €8,827 | €10,654 | +€1,827 | +20.7% |
| Gross operating margin | 9900 | €205,547 | €148,628 | -€56,919 | -27.7% |
| Operating profit (loss) | 9901 | €96,983 | €28,496 | -€68,487 | -70.6% |
| Financial income | 75/76B | €1,198 | €580 | -€618 | -51.6% |
| Recurring financial income | 75 | €1,198 | €580 | -€618 | -51.6% |
| Financial charges | 65/66B | €26,405 | €21,233 | -€5,172 | -19.6% |
| Recurring financial charges | 65 | €26,405 | €21,233 | -€5,172 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €71,776 | €7,843 | -€63,933 | -89.1% |
| Income taxes | 67/77 | €18,329 | €4,466 | -€13,863 | -75.6% |
| Profit (loss) for the period | 9904 | €53,447 | €3,377 | -€50,070 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,447 | €3,377 | -€50,070 | -93.7% |
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 10 October 2026 via checked.be.