CREDO SOFTWARE: 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.
CREDO SOFTWARE
Largest movements
- Tangible fixed assets -€76,453
down €76,453 (-50.3%), from €151,872 to €75,419
- Cash +€49,244
up €49,244 (+44.9%), from €109,591 to €158,834
mainly Depreciation (+€76,453) and Receivables within one year (+€10,352)
- Receivables within one year -€10,352
down €10,352 (-15.4%), from €67,024 to €56,673
of which Other amounts receivable: -€20,699
- Other debts -€45,729
down €45,729 (-100%), from €45,729 to €0
- Trade debts +€4,605
up €4,605 (+19.7%), from €23,413 to €28,018
- Reserves +€3,564
up €3,564 (+1.6%), from €228,744 to €232,308
of which Distributable reserves: +€3,564
- Gross operating margin -€9,809
down €9,809 (-9.6%), from €102,397 to €92,588
- Depreciation -€4,007
down €4,007 (-5.0%), from €80,459 to €76,453
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.
Derived cash bridge
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 | €328,487 | €290,926 | -€37,560 | -11.4% |
| Fixed assets | 21/28 | €151,872 | €75,419 | -€76,453 | -50.3% |
| Tangible fixed assets | 22/27 | €151,872 | €75,419 | -€76,453 | -50.3% |
| Plant, machinery and equipment | 23 | €151,872 | €75,419 | -€76,453 | -50.3% |
| Current assets | 29/58 | €176,615 | €215,507 | +€38,892 | +22.0% |
| Amounts receivable within one year | 40/41 | €67,024 | €56,673 | -€10,352 | -15.4% |
| Trade receivables | 40 | €19,542 | €29,889 | +€10,347 | +52.9% |
| Other amounts receivable | 41 | €47,483 | €26,784 | -€20,699 | -43.6% |
| Cash at bank and in hand | 54/58 | €109,591 | €158,834 | +€49,244 | +44.9% |
| Total equity and liabilities | 10/49 | €328,487 | €290,926 | -€37,560 | -11.4% |
| Equity | 10/15 | €247,344 | €250,908 | +€3,564 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €228,744 | €232,308 | +€3,564 | +1.6% |
| 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 | €226,884 | €230,448 | +€3,564 | +1.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €81,142 | €40,018 | -€41,124 | -50.7% |
| Amounts payable within one year | 42/48 | €81,142 | €40,018 | -€41,124 | -50.7% |
| Trade debts | 44 | €23,413 | €28,018 | +€4,605 | +19.7% |
| Suppliers | 440/4 | €23,413 | €28,018 | +€4,605 | +19.7% |
| Taxes, remuneration and social security | 45 | €12,000 | €12,000 | = | 0.0% |
| Taxes | 450/3 | €900 | €900 | = | 0.0% |
| Remuneration and social security | 454/9 | €11,100 | €11,100 | = | 0.0% |
| Other amounts payable | 47/48 | €45,729 | €0 | -€45,729 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,459 | €76,453 | -€4,007 | -5.0% |
| Other operating charges | 640/8 | €12,505 | €12,520 | +€14 | +0.1% |
| Gross operating margin | 9900 | €102,397 | €92,588 | -€9,809 | -9.6% |
| Operating profit (loss) | 9901 | €9,432 | €3,616 | -€5,816 | -61.7% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €69 | €70 | +€1 | +1.5% |
| Recurring financial charges | 65 | €69 | €70 | +€1 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €9,363 | €3,564 | -€5,799 | -61.9% |
| Profit (loss) for the period | 9904 | €9,363 | €3,564 | -€5,799 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,363 | €3,564 | -€5,799 | -61.9% |
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 28 October 2026 via checked.be.