CREAWAVE: 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.
CREAWAVE
Largest movements
- Cash -€180,001
down €180,001 (-70.6%), from €255,139 to €75,137
mainly Deferred charges and accrued income (-€125,312) and Contributions, distributions and other (-€94,988)
- Deferred charges and accrued income +€125,312
up €125,312 (+6,156%), from €2,036 to €127,348
- Tangible fixed assets -€17,026
down €17,026 (-35.2%), from €48,417 to €31,391
of which Leasing and similar rights: -€15,568
- Receivables within one year -€4,359
down €4,359 (-26.3%), from €16,563 to €12,204
of which Trade receivables: -€16,113
- Reserves -€94,988
down €94,988 (-40.4%), from €234,903 to €139,915
of which Distributable reserves: -€94,988
- Other debts +€52,914
up €52,914 (+232%), from €22,837 to €75,751
- Profit (loss) carried forward -€17,109
down €17,109, from €0 to -€17,109
- Debts after one year -€16,118
down €16,118 (-75.4%), from €21,388 to €5,270
- Tax, wage and social debts -€3,776
down €3,776 (-87.5%), from €4,316 to €540
of which Taxes: -€2,645
- Gross operating margin -€95,233
down €95,233 (-83.3%), from €114,267 to €19,034
- Taxes -€24,395
down €24,395 (-99.2%), from €24,599 to €204
- Staff costs +€2,143
up €2,143 (+18.1%), from €11,831 to €13,974
- Financial charges -€1,410
down €1,410 (-29.1%), from €4,846 to €3,436
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 | €322,155 | €246,080 | -€76,075 | -23.6% |
| Fixed assets | 21/28 | €48,417 | €31,391 | -€17,026 | -35.2% |
| Tangible fixed assets | 22/27 | €48,417 | €31,391 | -€17,026 | -35.2% |
| Furniture and vehicles | 24 | €2,226 | €767 | -€1,459 | -65.5% |
| Leasing and similar rights | 25 | €46,191 | €30,623 | -€15,568 | -33.7% |
| Current assets | 29/58 | €273,738 | €214,690 | -€59,048 | -21.6% |
| Amounts receivable within one year | 40/41 | €16,563 | €12,204 | -€4,359 | -26.3% |
| Trade receivables | 40 | €16,113 | €0 | -€16,113 | -100% |
| Other amounts receivable | 41 | €450 | €12,204 | +€11,754 | +2,612% |
| Cash at bank and in hand | 54/58 | €255,139 | €75,137 | -€180,001 | -70.6% |
| Deferred charges and accrued income | 490/1 | €2,036 | €127,348 | +€125,312 | +6,156% |
| Total equity and liabilities | 10/49 | €322,155 | €246,080 | -€76,075 | -23.6% |
| Equity | 10/15 | €254,903 | €142,806 | -€112,097 | -44.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €234,903 | €139,915 | -€94,988 | -40.4% |
| Tax-exempt reserves | 132 | €31,575 | €31,575 | = | 0.0% |
| Distributable reserves | 133 | €203,328 | €108,340 | -€94,988 | -46.7% |
| Profit (loss) carried forward | 14 | €0 | -€17,109 | -€17,109 | |
| Amounts payable | 17/49 | €67,252 | €103,274 | +€36,022 | +53.6% |
| Amounts payable after more than one year | 17 | €21,388 | €5,270 | -€16,118 | -75.4% |
| Financial debts | 170/4 | €21,388 | €5,270 | -€16,118 | -75.4% |
| Amounts payable within one year | 42/48 | €43,469 | €96,379 | +€52,910 | +122% |
| Current portion of amounts payable after more than one year | 42 | €15,366 | €16,118 | +€752 | +4.9% |
| Financial debts | 43 | €16 | €236 | +€220 | +1,340% |
| Credit institutions | 430/8 | €16 | €236 | +€220 | +1,340% |
| Trade debts | 44 | €933 | €3,734 | +€2,801 | +300% |
| Suppliers | 440/4 | €933 | €3,734 | +€2,801 | +300% |
| Taxes, remuneration and social security | 45 | €4,316 | €540 | -€3,776 | -87.5% |
| Taxes | 450/3 | €3,185 | €540 | -€2,645 | -83.0% |
| Remuneration and social security | 454/9 | €1,131 | €0 | -€1,131 | -100% |
| Other amounts payable | 47/48 | €22,837 | €75,751 | +€52,914 | +232% |
| Accrued charges and deferred income | 492/3 | €2,396 | €1,625 | -€770 | -32.2% |
| Remuneration, social security and pensions | 62 | €11,831 | €13,974 | +€2,143 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,023 | €16,606 | -€418 | -2.5% |
| Other operating charges | 640/8 | €2,289 | €2,437 | +€148 | +6.5% |
| Non-recurring operating charges | 66A | €207 | €421 | +€213 | +103% |
| Gross operating margin | 9900 | €114,267 | €19,034 | -€95,233 | -83.3% |
| Operating profit (loss) | 9901 | €82,917 | -€14,402 | -€97,319 | |
| Financial income | 75/76B | €6 | €933 | +€927 | +15,126% |
| Recurring financial income | 75 | €6 | €933 | +€927 | +15,126% |
| Financial charges | 65/66B | €4,846 | €3,436 | -€1,410 | -29.1% |
| Recurring financial charges | 65 | €4,846 | €3,436 | -€1,410 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €78,077 | -€16,905 | -€94,982 | |
| Income taxes | 67/77 | €24,599 | €204 | -€24,395 | -99.2% |
| Profit (loss) for the period | 9904 | €53,478 | -€17,109 | -€70,587 | |
| Transfer to tax-exempt reserves | 689 | €10,525 | €0 | -€10,525 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €42,953 | -€17,109 | -€60,062 |
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.