CredoBuild: 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.
CredoBuild
Largest movements
- Receivables within one year +€72,258
up €72,258 (+49.8%), from €145,127 to €217,385
of which Trade receivables: +€66,332
- Cash +€8,556
up €8,556 (+306%), from €2,797 to €11,353
mainly Other debts (+€41,722) and Trade debts (+€38,905)
- Deferred charges and accrued income +€2,851
up €2,851 (+544%), from €524 to €3,375
- Other debts +€41,722
up €41,722 (+79.5%), from €52,482 to €94,204
- Trade debts +€38,905
up €38,905 (+93.8%), from €41,477 to €80,382
- Profit (loss) carried forward +€16,762
up €16,762 (+331%), from €5,064 to €21,826
- Debts after one year -€16,617
down €16,617 (-52.8%), from €31,480 to €14,863
- Gross operating margin +€125,067
up €125,067 (+102%), from €122,892 to €247,959
- Staff costs +€104,908
up €104,908 (+95.4%), from €109,965 to €214,873
- Financial charges +€6,328
up €6,328 (+551%), from €1,149 to €7,477
- Taxes +€2,636
up €2,636 (+115%), from €2,283 to €4,919
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 | €155,866 | €237,811 | +€81,945 | +52.6% |
| Fixed assets | 21/28 | €7,419 | €5,699 | -€1,720 | -23.2% |
| Tangible fixed assets | 22/27 | €7,419 | €5,699 | -€1,720 | -23.2% |
| Plant, machinery and equipment | 23 | €4,793 | €3,638 | -€1,155 | -24.1% |
| Other tangible fixed assets | 26 | €2,626 | €2,061 | -€565 | -21.5% |
| Current assets | 29/58 | €148,447 | €232,112 | +€83,665 | +56.4% |
| Amounts receivable within one year | 40/41 | €145,127 | €217,385 | +€72,258 | +49.8% |
| Trade receivables | 40 | €128,785 | €195,117 | +€66,332 | +51.5% |
| Other amounts receivable | 41 | €16,342 | €22,268 | +€5,926 | +36.3% |
| Cash at bank and in hand | 54/58 | €2,797 | €11,353 | +€8,556 | +306% |
| Deferred charges and accrued income | 490/1 | €524 | €3,375 | +€2,851 | +544% |
| Total equity and liabilities | 10/49 | €155,866 | €237,811 | +€81,945 | +52.6% |
| Equity | 10/15 | €10,064 | €26,826 | +€16,762 | +167% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,064 | €21,826 | +€16,762 | +331% |
| Amounts payable | 17/49 | €145,802 | €210,985 | +€65,183 | +44.7% |
| Amounts payable after more than one year | 17 | €31,480 | €14,863 | -€16,617 | -52.8% |
| Financial debts | 170/4 | €31,480 | €14,863 | -€16,617 | -52.8% |
| Amounts payable within one year | 42/48 | €114,322 | €196,122 | +€81,800 | +71.6% |
| Current portion of amounts payable after more than one year | 42 | €15,943 | €16,617 | +€674 | +4.2% |
| Trade debts | 44 | €41,477 | €80,382 | +€38,905 | +93.8% |
| Suppliers | 440/4 | €41,477 | €80,382 | +€38,905 | +93.8% |
| Taxes, remuneration and social security | 45 | €4,420 | €4,919 | +€499 | +11.3% |
| Taxes | 450/3 | - | €4,919 | +€4,919 | |
| Remuneration and social security | 454/9 | €4,420 | - | -€4,420 | |
| Other amounts payable | 47/48 | €52,482 | €94,204 | +€41,722 | +79.5% |
| Remuneration, social security and pensions | 62 | €109,965 | €214,873 | +€104,908 | +95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,180 | €1,720 | +€540 | +45.8% |
| Other operating charges | 640/8 | €3,386 | €2,209 | -€1,177 | -34.8% |
| Gross operating margin | 9900 | €122,892 | €247,959 | +€125,067 | +102% |
| Operating profit (loss) | 9901 | €8,361 | €29,158 | +€20,796 | +249% |
| Financial income | 75/76B | €134 | - | -€134 | |
| Recurring financial income | 75 | €134 | - | -€134 | |
| Financial charges | 65/66B | €1,149 | €7,477 | +€6,328 | +551% |
| Recurring financial charges | 65 | €1,149 | €7,477 | +€6,328 | +551% |
| Profit (loss) for the period before taxes | 9903 | €7,347 | €21,681 | +€14,334 | +195% |
| Income taxes | 67/77 | €2,283 | €4,919 | +€2,636 | +115% |
| Profit (loss) for the period | 9904 | €5,064 | €16,762 | +€11,699 | +231% |
| Profit (loss) for the period to be appropriated | 9905 | €5,064 | €16,762 | +€11,699 | +231% |
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 14 October 2026 via checked.be.