Creco: 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.
Creco
Largest movements
- Intangible fixed assets +€525,638
up €525,638 (+22010.2%), from €2,388 to €528,026
- Deferred charges and accrued income +€411,825
up €411,825 (+203.8%), from €202,109 to €613,934
- Receivables within one year +€185,319
up €185,319 (+13.4%), from €1.4m to €1.6m
of which Other amounts receivable: +€353,712
- Cash +€152,382
up €152,382 (+299.2%), from €50,929 to €203,312
mainly Advances received (+€1.2m) and Current portion of long-term debt (+€499,950)
- Advances received +€1.2m
up €1.2m (+220.7%), from €552,548 to €1.8m
- Current portion of long-term debt +€499,950
new in 2025: €499,950
- Profit (loss) carried forward -€233,884
down €233,884 (-55.8%), from €419,196 to €185,312
- Accrued charges and deferred income -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Gross operating margin -€283,070
down €283,070, from €93,885 to -€189,185
- Taxes -€16,669
down €16,669 (-100.0%), from €16,669 to €0
- Financial charges -€12,740
down €12,740 (-84.0%), from €15,172 to €2,432
- Financial income -€12,620
down €12,620 (-91.3%), from €13,823 to €1,203
- Depreciation +€10,553
up €10,553 (+42.4%), from €24,894 to €35,447
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 | €1,744,194 | €3,045,775 | +€1.3m | +74.6% |
| Fixed assets | 21/28 | €108,236 | €660,290 | +€552,054 | +510.0% |
| Intangible fixed assets | 21 | €2,388 | €528,026 | +€525,638 | +22010.2% |
| Tangible fixed assets | 22/27 | €99,528 | €112,944 | +€13,416 | +13.5% |
| Plant, machinery and equipment | 23 | €99,528 | €112,944 | +€13,416 | +13.5% |
| Financial fixed assets | 28 | €6,320 | €19,320 | +€13,000 | +205.7% |
| Current assets | 29/58 | €1,635,958 | €2,385,485 | +€749,526 | +45.8% |
| Amounts receivable after more than one year | 29 | €5,000 | €5,000 | = | 0.0% |
| Trade receivables | 290 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,377,920 | €1,563,239 | +€185,319 | +13.4% |
| Trade receivables | 40 | €197,460 | €29,066 | -€168,394 | -85.3% |
| Other amounts receivable | 41 | €1,180,460 | €1,534,172 | +€353,712 | +30.0% |
| Cash at bank and in hand | 54/58 | €50,929 | €203,312 | +€152,382 | +299.2% |
| Deferred charges and accrued income | 490/1 | €202,109 | €613,934 | +€411,825 | +203.8% |
| Total equity and liabilities | 10/49 | €1,744,194 | €3,045,775 | +€1.3m | +74.6% |
| Equity | 10/15 | €627,156 | €393,272 | -€233,884 | -37.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €189,360 | €189,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €187,500 | €187,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €419,196 | €185,312 | -€233,884 | -55.8% |
| Amounts payable | 17/49 | €1,117,039 | €2,652,503 | +€1.5m | +137.5% |
| Amounts payable within one year | 42/48 | €967,039 | €2,652,503 | +€1.7m | +174.3% |
| Current portion of amounts payable after more than one year | 42 | - | €499,950 | +€499,950 | |
| Financial debts | 43 | €7,198 | €2,883 | -€4,315 | -59.9% |
| Credit institutions | 430/8 | €7,198 | €2,883 | -€4,315 | -59.9% |
| Trade debts | 44 | €407,294 | €377,673 | -€29,621 | -7.3% |
| Suppliers | 440/4 | €407,294 | €377,673 | -€29,621 | -7.3% |
| Advances received on contracts in progress | 46 | €552,548 | €1,771,997 | +€1.2m | +220.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €150,000 | €0 | -€150,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,894 | €35,447 | +€10,553 | +42.4% |
| Other operating charges | 640/8 | €2,436 | €1,118 | -€1,317 | -54.1% |
| Non-recurring operating charges | 66A | - | €6,904 | +€6,904 | |
| Gross operating margin | 9900 | €93,885 | -€189,185 | -€283,070 | |
| Operating profit (loss) | 9901 | €66,555 | -€232,655 | -€299,211 | |
| Financial income | 75/76B | €13,823 | €1,203 | -€12,620 | -91.3% |
| Recurring financial income | 75 | €13,823 | €1,203 | -€12,620 | -91.3% |
| Financial charges | 65/66B | €15,172 | €2,432 | -€12,740 | -84.0% |
| Recurring financial charges | 65 | €15,172 | €2,432 | -€12,740 | -84.0% |
| Profit (loss) for the period before taxes | 9903 | €65,207 | -€233,884 | -€299,090 | |
| Income taxes | 67/77 | €16,669 | €0 | -€16,669 | -100.0% |
| Profit (loss) for the period | 9904 | €48,537 | -€233,884 | -€282,421 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,537 | -€233,884 | -€282,421 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.