CREDOVA: 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.
CREDOVA
Largest movements
- Receivables within one year +€5,626
new in 2025: €5,626
- Tangible fixed assets -€2,427
down €2,427 (-3.7%), from €66,166 to €63,739
- Profit (loss) carried forward +€10,719
up €10,719 (+23.8%), from -€44,943 to -€34,225
- Debts after one year -€5,109
down €5,109 (-26.2%), from €19,496 to €14,387
- Other debts -€2,112
down €2,112 (-2.6%), from €79,969 to €77,856
- Gross operating margin +€9,788
up €9,788 (+186.7%), from €5,242 to €15,031
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 | €67,144 | €70,313 | +€3,169 | +4.7% |
| Fixed assets | 21/28 | €66,166 | €63,739 | -€2,427 | -3.7% |
| Tangible fixed assets | 22/27 | €66,166 | €63,739 | -€2,427 | -3.7% |
| Land and buildings | 22 | €66,166 | €63,739 | -€2,427 | -3.7% |
| Current assets | 29/58 | €978 | €6,574 | +€5,596 | +572.3% |
| Amounts receivable within one year | 40/41 | - | €5,626 | +€5,626 | |
| Trade receivables | 40 | - | €5,626 | +€5,626 | |
| Cash at bank and in hand | 54/58 | €978 | €922 | -€55 | -5.7% |
| Deferred charges and accrued income | 490/1 | - | €25 | +€25 | |
| Total equity and liabilities | 10/49 | €67,144 | €70,313 | +€3,169 | +4.7% |
| Equity | 10/15 | -€38,743 | -€28,025 | +€10,719 | +27.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,943 | -€34,225 | +€10,719 | +23.8% |
| Amounts payable | 17/49 | €105,887 | €98,338 | -€7,549 | -7.1% |
| Amounts payable after more than one year | 17 | €19,496 | €14,387 | -€5,109 | -26.2% |
| Financial debts | 170/4 | €19,496 | €14,387 | -€5,109 | -26.2% |
| Amounts payable within one year | 42/48 | €85,728 | €83,310 | -€2,418 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €5,044 | €5,109 | +€64 | +1.3% |
| Trade debts | 44 | €715 | €345 | -€370 | -51.7% |
| Suppliers | 440/4 | €715 | €345 | -€370 | -51.7% |
| Other amounts payable | 47/48 | €79,969 | €77,856 | -€2,112 | -2.6% |
| Accrued charges and deferred income | 492/3 | €663 | €640 | -€23 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,427 | €2,427 | = | 0.0% |
| Other operating charges | 640/8 | €1,286 | €1,327 | +€41 | +3.2% |
| Gross operating margin | 9900 | €5,242 | €15,031 | +€9,788 | +186.7% |
| Operating profit (loss) | 9901 | €1,529 | €11,277 | +€9,748 | +637.5% |
| Financial charges | 65/66B | €592 | €558 | -€34 | -5.7% |
| Recurring financial charges | 65 | €592 | €558 | -€34 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €937 | €10,719 | +€9,781 | +1043.9% |
| Profit (loss) for the period | 9904 | €937 | €10,719 | +€9,781 | +1043.9% |
| Profit (loss) for the period to be appropriated | 9905 | €937 | €10,719 | +€9,781 | +1043.9% |
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 7 October 2026 via checked.be.