Credem: 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.
Credem
Largest movements
- Cash -€17,868
down €17,868 (-50.7%), from €35,271 to €17,403
mainly Net result for the year (-€20,963) and Contributions, distributions and other (-€15,000)
- Tangible fixed assets -€12,505
down €12,505 (-9.7%), from €129,531 to €117,027
of which Land and buildings: -€12,478
- Reserves -€35,963
down €35,963 (-9.3%), from €386,903 to €350,940
of which Distributable reserves: -€35,963
- Gross operating margin +€18,994
up €18,994 (+78.2%), from -€24,288 to -€5,295
- Depreciation -€10,277
down €10,277 (-45.1%), from €22,782 to €12,505
- Financial income -€831
down €831 (-100.0%), from €831 to €0
- Other operating charges -€602
down €602 (-24.4%), from €2,466 to €1,864
- Financial charges +€537
up €537 (+142.4%), from €377 to €914
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 | €399,918 | €368,050 | -€31,869 | -8.0% |
| Fixed assets | 21/28 | €132,027 | €119,522 | -€12,505 | -9.5% |
| Tangible fixed assets | 22/27 | €129,531 | €117,027 | -€12,505 | -9.7% |
| Land and buildings | 22 | €123,703 | €111,225 | -€12,478 | -10.1% |
| Furniture and vehicles | 24 | €27 | €0 | -€27 | -100.0% |
| Leasing and similar rights | 25 | €5,802 | €5,802 | = | 0.0% |
| Financial fixed assets | 28 | €2,496 | €2,496 | = | 0.0% |
| Current assets | 29/58 | €267,891 | €248,527 | -€19,364 | -7.2% |
| Amounts receivable within one year | 40/41 | €217 | €233 | +€16 | +7.6% |
| Trade receivables | 40 | €110 | €220 | +€109 | +99.2% |
| Other amounts receivable | 41 | €107 | €14 | -€93 | -87.1% |
| Current investments | 50/53 | €218,489 | €218,489 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,271 | €17,403 | -€17,868 | -50.7% |
| Deferred charges and accrued income | 490/1 | €13,914 | €12,402 | -€1,512 | -10.9% |
| Total equity and liabilities | 10/49 | €399,918 | €368,050 | -€31,869 | -8.0% |
| Equity | 10/15 | €399,303 | €363,340 | -€35,963 | -9.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €386,903 | €350,940 | -€35,963 | -9.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €386,903 | €350,940 | -€35,963 | -9.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €615 | €4,710 | +€4,094 | +665.2% |
| Amounts payable within one year | 42/48 | €615 | €4,681 | +€4,065 | +660.5% |
| Trade debts | 44 | €615 | €768 | +€152 | +24.7% |
| Suppliers | 440/4 | €615 | €768 | +€152 | +24.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €154 | +€154 | |
| Taxes | 450/3 | €0 | €154 | +€154 | |
| Other amounts payable | 47/48 | - | €3,759 | +€3,759 | |
| Accrued charges and deferred income | 492/3 | - | €29 | +€29 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,782 | €12,505 | -€10,277 | -45.1% |
| Other operating charges | 640/8 | €2,466 | €1,864 | -€602 | -24.4% |
| Gross operating margin | 9900 | -€24,288 | -€5,295 | +€18,994 | +78.2% |
| Operating profit (loss) | 9901 | -€49,537 | -€19,663 | +€29,873 | +60.3% |
| Financial income | 75/76B | €831 | €0 | -€831 | -100.0% |
| Recurring financial income | 75 | €831 | €0 | -€831 | -100.0% |
| Financial charges | 65/66B | €377 | €914 | +€537 | +142.4% |
| Recurring financial charges | 65 | €377 | €914 | +€537 | +142.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,082 | -€20,577 | +€28,505 | +58.1% |
| Income taxes | 67/77 | €293 | €386 | +€93 | +31.7% |
| Profit (loss) for the period | 9904 | -€49,376 | -€20,963 | +€28,412 | +57.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,376 | -€20,963 | +€28,412 | +57.5% |
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 2 October 2026 via checked.be.