Credco: 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.
Credco
Largest movements
- Tangible fixed assets +€41,157
up €41,157 (+198.1%), from €20,779 to €61,936
of which Land and buildings: +€39,170
- Cash -€28,932
down €28,932 (-96.6%), from €29,960 to €1,029
mainly Investment in fixed assets (net) (-€47,438) and Net result for the year (-€30,031)
- Receivables within one year -€18,124
down €18,124 (-42.6%), from €42,551 to €24,427
of which Other amounts receivable: -€12,369
- Profit (loss) carried forward -€30,031
down €30,031 (-62.3%), from -€48,185 to -€78,216
- Other debts +€29,938
up €29,938 (+32.5%), from €92,137 to €122,075
- Trade debts -€3,897
down €3,897 (-13.9%), from €28,043 to €24,145
- Tax, wage and social debts -€2,314
down €2,314 (-95.1%), from €2,433 to €119
- Depreciation +€5,861
up €5,861 (+1392.8%), from €421 to €6,281
- Gross operating margin -€2,964
down €2,964 (-17.6%), from -€16,847 to -€19,811
- Financial income -€1,837
down €1,837 (-90.5%), from €2,029 to €192
- Financial charges +€1,117
up €1,117 (+54.9%), from €2,035 to €3,152
- Other operating charges +€395
up €395 (+74.9%), from €527 to €922
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 | €93,695 | €87,391 | -€6,304 | -6.7% |
| Fixed assets | 21/28 | €20,779 | €61,936 | +€41,157 | +198.1% |
| Tangible fixed assets | 22/27 | €20,779 | €61,936 | +€41,157 | +198.1% |
| Land and buildings | 22 | €19,918 | €59,088 | +€39,170 | +196.7% |
| Furniture and vehicles | 24 | €861 | €2,848 | +€1,987 | +230.7% |
| Current assets | 29/58 | €72,915 | €25,455 | -€47,460 | -65.1% |
| Amounts receivable within one year | 40/41 | €42,551 | €24,427 | -€18,124 | -42.6% |
| Trade receivables | 40 | €15,625 | €9,869 | -€5,756 | -36.8% |
| Other amounts receivable | 41 | €26,926 | €14,557 | -€12,369 | -45.9% |
| Cash at bank and in hand | 54/58 | €29,960 | €1,029 | -€28,932 | -96.6% |
| Deferred charges and accrued income | 490/1 | €404 | €0 | -€404 | -100.0% |
| Total equity and liabilities | 10/49 | €93,695 | €87,391 | -€6,304 | -6.7% |
| Equity | 10/15 | -€28,917 | -€58,948 | -€30,031 | -103.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €676 | €676 | = | 0.0% |
| Distributable reserves | 133 | €676 | €676 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,185 | -€78,216 | -€30,031 | -62.3% |
| Amounts payable | 17/49 | €122,612 | €146,339 | +€23,727 | +19.4% |
| Amounts payable within one year | 42/48 | €122,612 | €146,339 | +€23,727 | +19.4% |
| Trade debts | 44 | €28,043 | €24,145 | -€3,897 | -13.9% |
| Suppliers | 440/4 | €28,043 | €24,145 | -€3,897 | -13.9% |
| Taxes, remuneration and social security | 45 | €2,433 | €119 | -€2,314 | -95.1% |
| Taxes | 450/3 | €2,433 | €119 | -€2,314 | -95.1% |
| Other amounts payable | 47/48 | €92,137 | €122,075 | +€29,938 | +32.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €421 | €6,281 | +€5,861 | +1392.8% |
| Other operating charges | 640/8 | €527 | €922 | +€395 | +74.9% |
| Gross operating margin | 9900 | -€16,847 | -€19,811 | -€2,964 | -17.6% |
| Operating profit (loss) | 9901 | -€17,795 | -€27,014 | -€9,219 | -51.8% |
| Financial income | 75/76B | €2,029 | €192 | -€1,837 | -90.5% |
| Recurring financial income | 75 | €2,029 | €192 | -€1,837 | -90.5% |
| Financial charges | 65/66B | €2,035 | €3,152 | +€1,117 | +54.9% |
| Recurring financial charges | 65 | €2,035 | €3,152 | +€1,117 | +54.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,801 | -€29,974 | -€12,174 | -68.4% |
| Income taxes | 67/77 | €0 | €56 | +€56 | |
| Profit (loss) for the period | 9904 | -€17,801 | -€30,031 | -€12,230 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,801 | -€30,031 | -€12,230 | -68.7% |
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 4 October 2026 via checked.be.