CREAX: 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.
CREAX
Largest movements
- Receivables after one year -€22,871
down €22,871 (-68.4%), from €33,460 to €10,589
- Tangible fixed assets -€14,164
down €14,164 (-21.9%), from €64,759 to €50,595
of which Furniture and vehicles: -€13,485
- Receivables within one year +€12,073
up €12,073 (+107%), from €11,279 to €23,352
of which Other amounts receivable: +€12,073
- Cash +€8,136
up €8,136 (+21.6%), from €37,699 to €45,835
mainly Net result for the year (+€28,521) and Receivables after one year (+€22,871)
- Reserves -€21,479
down €21,479 (-75.7%), from €28,381 to €6,902
of which Distributable reserves: -€21,479
- Debts after one year -€10,189
down €10,189 (-24.8%), from €41,050 to €30,861
- Other debts +€9,764
up €9,764 (+32.5%), from €30,000 to €39,764
- Trade debts +€2,699
up €2,699 (+143%), from €1,884 to €4,583
- Tax, wage and social debts +€2,060
up €2,060 (+11.3%), from €18,297 to €20,357
- Depreciation +€9,675
up €9,675 (+216%), from €4,489 to €14,164
- Gross operating margin +€2,742
up €2,742 (+5.2%), from €52,670 to €55,412
- Taxes -€1,762
down €1,762 (-15.5%), from €11,405 to €9,643
- Financial charges +€818
up €818 (+64.5%), from €1,269 to €2,087
- Other operating charges +€703
up €703 (+79.7%), from €882 to €1,585
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 | €147,197 | €130,370 | -€16,827 | -11.4% |
| Fixed assets | 21/28 | €64,759 | €50,595 | -€14,164 | -21.9% |
| Tangible fixed assets | 22/27 | €64,759 | €50,595 | -€14,164 | -21.9% |
| Plant, machinery and equipment | 23 | €2,718 | €2,039 | -€680 | -25.0% |
| Furniture and vehicles | 24 | €62,041 | €48,556 | -€13,485 | -21.7% |
| Current assets | 29/58 | €82,438 | €79,776 | -€2,662 | -3.2% |
| Amounts receivable after more than one year | 29 | €33,460 | €10,589 | -€22,871 | -68.4% |
| Other amounts receivable | 291 | €33,460 | €10,589 | -€22,871 | -68.4% |
| Amounts receivable within one year | 40/41 | €11,279 | €23,352 | +€12,073 | +107% |
| Trade receivables | 40 | €605 | €605 | = | 0.0% |
| Other amounts receivable | 41 | €10,674 | €22,747 | +€12,073 | +113% |
| Cash at bank and in hand | 54/58 | €37,699 | €45,835 | +€8,136 | +21.6% |
| Total equity and liabilities | 10/49 | €147,197 | €130,370 | -€16,827 | -11.4% |
| Equity | 10/15 | €46,931 | €25,452 | -€21,479 | -45.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €28,381 | €6,902 | -€21,479 | -75.7% |
| Tax-exempt reserves | 132 | €285 | €285 | = | 0.0% |
| Distributable reserves | 133 | €28,096 | €6,617 | -€21,479 | -76.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €100,266 | €104,918 | +€4,652 | +4.6% |
| Amounts payable after more than one year | 17 | €41,050 | €30,861 | -€10,189 | -24.8% |
| Financial debts | 170/4 | €41,050 | €30,861 | -€10,189 | -24.8% |
| Amounts payable within one year | 42/48 | €59,216 | €74,057 | +€14,841 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €9,035 | €9,353 | +€318 | +3.5% |
| Trade debts | 44 | €1,884 | €4,583 | +€2,699 | +143% |
| Suppliers | 440/4 | €1,884 | €4,583 | +€2,699 | +143% |
| Taxes, remuneration and social security | 45 | €18,297 | €20,357 | +€2,060 | +11.3% |
| Taxes | 450/3 | €18,297 | €20,357 | +€2,060 | +11.3% |
| Other amounts payable | 47/48 | €30,000 | €39,764 | +€9,764 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,489 | €14,164 | +€9,675 | +216% |
| Other operating charges | 640/8 | €882 | €1,585 | +€703 | +79.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €52,670 | €55,412 | +€2,742 | +5.2% |
| Operating profit (loss) | 9901 | €47,299 | €39,662 | -€7,637 | -16.1% |
| Financial income | 75/76B | €310 | €589 | +€279 | +89.9% |
| Recurring financial income | 75 | €310 | €589 | +€279 | +89.9% |
| Financial charges | 65/66B | €1,269 | €2,087 | +€818 | +64.5% |
| Recurring financial charges | 65 | €1,269 | €2,087 | +€818 | +64.5% |
| Profit (loss) for the period before taxes | 9903 | €46,340 | €38,164 | -€8,176 | -17.6% |
| Income taxes | 67/77 | €11,405 | €9,643 | -€1,762 | -15.5% |
| Profit (loss) for the period | 9904 | €34,934 | €28,521 | -€6,413 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,934 | €28,521 | -€6,413 | -18.4% |
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 25 October 2026 via checked.be.