CREBO: 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.
CREBO
Largest movements
- Receivables within one year -€33,332
no longer reported in 2025 (was €33,332)
- Cash -€33,085
down €33,085 (-29.4%), from €112,457 to €79,372
mainly Trade debts (-€65,142) and Contributions, distributions and other (-€30,000)
- Stocks and contracts +€12,284
up €12,284 (+4.9%), from €251,457 to €263,742
- Tangible fixed assets -€7,179
down €7,179 (-15.9%), from €45,154 to €37,974
of which Furniture and vehicles: -€18,665
- Trade debts -€65,142
down €65,142 (-53.3%), from €122,230 to €57,088
- Debts after one year -€10,291
down €10,291 (-74.4%), from €13,823 to €3,532
- Tax, wage and social debts +€8,443
up €8,443 (+27.6%), from €30,630 to €39,073
of which Taxes: +€10,662
- Advances received +€5,450
new in 2025: €5,450
- Gross operating margin -€16,712
down €16,712 (-17.5%), from €95,417 to €78,705
- Staff costs -€7,802
down €7,802 (-42.5%), from €18,351 to €10,549
- Depreciation +€3,974
up €3,974 (+23.3%), from €17,062 to €21,036
- Other operating charges +€2,925
up €2,925 (+311.3%), from €940 to €3,864
- Financial charges +€966
up €966 (+16.3%), from €5,918 to €6,884
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 | €445,298 | €382,566 | -€62,732 | -14.1% |
| Fixed assets | 21/28 | €48,052 | €39,453 | -€8,599 | -17.9% |
| Intangible fixed assets | 21 | €2,836 | €1,416 | -€1,420 | -50.1% |
| Tangible fixed assets | 22/27 | €45,154 | €37,974 | -€7,179 | -15.9% |
| Plant, machinery and equipment | 23 | €2,644 | €14,130 | +€11,486 | +434.5% |
| Furniture and vehicles | 24 | €42,510 | €23,845 | -€18,665 | -43.9% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €397,246 | €343,114 | -€54,133 | -13.6% |
| Stocks and contracts in progress | 3 | €251,457 | €263,742 | +€12,284 | +4.9% |
| Stocks | 30/36 | €251,457 | €263,742 | +€12,284 | +4.9% |
| Amounts receivable within one year | 40/41 | €33,332 | - | -€33,332 | |
| Trade receivables | 40 | €33,332 | - | -€33,332 | |
| Cash at bank and in hand | 54/58 | €112,457 | €79,372 | -€33,085 | -29.4% |
| Total equity and liabilities | 10/49 | €445,298 | €382,566 | -€62,732 | -14.1% |
| Equity | 10/15 | €149,236 | €151,378 | +€2,142 | +1.4% |
| Contributions | 10/11 | €68,592 | €68,592 | = | 0.0% |
| Reserves | 13 | €6,859 | €6,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,859 | €6,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,859 | €6,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,785 | €75,927 | +€2,142 | +2.9% |
| Amounts payable | 17/49 | €296,062 | €231,188 | -€64,873 | -21.9% |
| Amounts payable after more than one year | 17 | €13,823 | €3,532 | -€10,291 | -74.4% |
| Financial debts | 170/4 | €13,823 | €3,532 | -€10,291 | -74.4% |
| Amounts payable within one year | 42/48 | €282,238 | €227,656 | -€54,582 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €9,848 | €10,291 | +€443 | +4.5% |
| Trade debts | 44 | €122,230 | €57,088 | -€65,142 | -53.3% |
| Suppliers | 440/4 | €122,230 | €57,088 | -€65,142 | -53.3% |
| Advances received on contracts in progress | 46 | - | €5,450 | +€5,450 | |
| Taxes, remuneration and social security | 45 | €30,630 | €39,073 | +€8,443 | +27.6% |
| Taxes | 450/3 | €28,412 | €39,073 | +€10,662 | +37.5% |
| Remuneration and social security | 454/9 | €2,219 | - | -€2,219 | |
| Other amounts payable | 47/48 | €119,530 | €115,754 | -€3,776 | -3.2% |
| Non-recurring operating income | 76A | €3,632 | - | -€3,632 | |
| Remuneration, social security and pensions | 62 | €18,351 | €10,549 | -€7,802 | -42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,062 | €21,036 | +€3,974 | +23.3% |
| Other operating charges | 640/8 | €940 | €3,864 | +€2,925 | +311.3% |
| Gross operating margin | 9900 | €95,417 | €78,705 | -€16,712 | -17.5% |
| Operating profit (loss) | 9901 | €59,064 | €43,256 | -€15,808 | -26.8% |
| Financial income | 75/76B | €1 | €27 | +€26 | +2153.8% |
| Recurring financial income | 75 | €1 | €27 | +€26 | +2153.8% |
| Financial charges | 65/66B | €5,918 | €6,884 | +€966 | +16.3% |
| Recurring financial charges | 65 | €5,918 | €6,884 | +€966 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €53,147 | €36,399 | -€16,748 | -31.5% |
| Income taxes | 67/77 | €4,308 | €4,257 | -€51 | -1.2% |
| Profit (loss) for the period | 9904 | €48,840 | €32,142 | -€16,698 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,840 | €32,142 | -€16,698 | -34.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.