CREDEP: 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.
CREDEP
Largest movements
- Stocks and contracts +€99,746
up €99,746 (+27.2%), from €367,123 to €466,869
- Cash +€7,441
up €7,441 (+207836.6%), from €4 to €7,444
mainly Other debts (+€55,267) and Short-term financial debts (+€52,139)
- Other debts +€55,267
up €55,267 (+33.2%), from €166,618 to €221,885
- Short-term financial debts +€52,139
up €52,139 (+24.0%), from €217,600 to €269,739
- Profit (loss) carried forward -€25,994
down €25,994 (-107.1%), from -€24,264 to -€50,258
- Trade debts +€23,229
new in 2025: €23,229
- Financial charges +€1,066
up €1,066 (+7.3%), from €14,666 to €15,732
- Gross operating margin -€1,058
down €1,058 (-12.9%), from -€8,177 to -€9,235
- Other operating charges -€394
down €394 (-27.8%), from €1,421 to €1,026
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 | €369,954 | €474,595 | +€104,641 | +28.3% |
| Current assets | 29/58 | €369,954 | €474,595 | +€104,641 | +28.3% |
| Stocks and contracts in progress | 3 | €367,123 | €466,869 | +€99,746 | +27.2% |
| Stocks | 30/36 | €367,123 | €466,869 | +€99,746 | +27.2% |
| Amounts receivable within one year | 40/41 | €2,611 | €10 | -€2,601 | -99.6% |
| Trade receivables | 40 | €2,601 | - | -€2,601 | |
| Other amounts receivable | 41 | €10 | €10 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4 | €7,444 | +€7,441 | +207836.6% |
| Deferred charges and accrued income | 490/1 | €216 | €272 | +€55 | +25.6% |
| Total equity and liabilities | 10/49 | €369,954 | €474,595 | +€104,641 | +28.3% |
| Equity | 10/15 | -€14,264 | -€40,258 | -€25,994 | -182.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,264 | -€50,258 | -€25,994 | -107.1% |
| Amounts payable | 17/49 | €384,218 | €514,853 | +€130,635 | +34.0% |
| Amounts payable within one year | 42/48 | €384,218 | €514,853 | +€130,635 | +34.0% |
| Financial debts | 43 | €217,600 | €269,739 | +€52,139 | +24.0% |
| Credit institutions | 430/8 | €217,600 | €269,739 | +€52,139 | +24.0% |
| Trade debts | 44 | - | €23,229 | +€23,229 | |
| Suppliers | 440/4 | - | €23,229 | +€23,229 | |
| Other amounts payable | 47/48 | €166,618 | €221,885 | +€55,267 | +33.2% |
| Other operating charges | 640/8 | €1,421 | €1,026 | -€394 | -27.8% |
| Gross operating margin | 9900 | -€8,177 | -€9,235 | -€1,058 | -12.9% |
| Operating profit (loss) | 9901 | -€9,598 | -€10,262 | -€664 | -6.9% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €14,666 | €15,732 | +€1,066 | +7.3% |
| Recurring financial charges | 65 | €14,666 | €15,732 | +€1,066 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | -€24,264 | -€25,994 | -€1,730 | -7.1% |
| Profit (loss) for the period | 9904 | -€24,264 | -€25,994 | -€1,730 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,264 | -€25,994 | -€1,730 | -7.1% |
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 9 October 2026 via checked.be.