CREFI - INVEST: what changed
What changed
CREFI - INVEST
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€48,072
2024 · -€47,490-€582
Equity
€1.1m
2024 · €1.1m-€48,072
Cash
€130,008
2024 · €126,035+€3,973
Balance sheet total
€1.2m
2024 · €1.3m-€71,861
Largest movements
Assets
- Tangible fixed assets -€74,363
down €74,363 (-18.3%), from €405,752 to €331,389
of which Furniture and vehicles: -€44,815
Equity and liabilities
- Profit (loss) carried forward -€48,072
down €48,072 (-213%), from -€22,533 to -€70,605
- Debts after one year -€26,562
down €26,562 (-27.5%), from €96,691 to €70,129
Income statement
- Other operating charges -€4,948
down €4,948 (-38.2%), from €12,943 to €7,996
- Gross operating margin -€3,387
down €3,387 (-8.5%), from €39,909 to €36,522
- Depreciation +€2,311
up €2,311 (+3.2%), from €72,051 to €74,363
- Financial charges -€616
down €616 (-22.3%), from €2,769 to €2,153
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€47,490
Gross operating margin
-€3,387
Depreciation
-€2,311
Other operating charges
+€4,948
Financial income
-€379
Financial charges
+€616
Taxes
-€69
Result 2025
-€48,072
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€26,726
Investment
€0
Financing
-€22,753
Cash 2024
€126,035
From operations (derived)
+€26,726
Net result for the year
-€48,072
Depreciation
+€74,363
Deferred charges and accrued income
+€1,471
Trade debts
-€1,406
Tax, wage and social debts
+€807
Advances received
-€770
Other debts
+€310
Accrued charges and deferred income
+€24
Financing
-€22,753
Debts after one year
-€26,562
Current portion of long-term debt
+€320
Short-term financial debts
+€3,489
Cash 2025
€130,008
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,250,785 | €1,178,925 | -€71,861 | -5.7% |
| Fixed assets | 21/28 | €1,120,752 | €1,046,389 | -€74,363 | -6.6% |
| Tangible fixed assets | 22/27 | €405,752 | €331,389 | -€74,363 | -18.3% |
| Land and buildings | 22 | €191,194 | €172,301 | -€18,893 | -9.9% |
| Plant, machinery and equipment | 23 | €55,042 | €44,388 | -€10,654 | -19.4% |
| Furniture and vehicles | 24 | €159,516 | €114,701 | -€44,815 | -28.1% |
| Financial fixed assets | 28 | €715,000 | €715,000 | = | 0.0% |
| Current assets | 29/58 | €130,033 | €132,535 | +€2,502 | +1.9% |
| Amounts receivable within one year | 40/41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €126,035 | €130,008 | +€3,973 | +3.2% |
| Deferred charges and accrued income | 490/1 | €3,998 | €2,528 | -€1,471 | -36.8% |
| Total equity and liabilities | 10/49 | €1,250,785 | €1,178,925 | -€71,861 | -5.7% |
| Equity | 10/15 | €1,121,367 | €1,073,295 | -€48,072 | -4.3% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Capital | 10 | €105,000 | €105,000 | = | 0.0% |
| Issued capital | 100 | €105,000 | €105,000 | = | 0.0% |
| Revaluation surpluses | 12 | €328,000 | €328,000 | = | 0.0% |
| Reserves | 13 | €710,900 | €710,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,500 | €10,500 | = | 0.0% |
| Legal reserve | 130 | €10,500 | €10,500 | = | 0.0% |
| Distributable reserves | 133 | €700,400 | €700,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,533 | -€70,605 | -€48,072 | -213% |
| Amounts payable | 17/49 | €129,418 | €105,630 | -€23,788 | -18.4% |
| Amounts payable after more than one year | 17 | €96,691 | €70,129 | -€26,562 | -27.5% |
| Financial debts | 170/4 | €96,691 | €70,129 | -€26,562 | -27.5% |
| Amounts payable within one year | 42/48 | €32,702 | €35,451 | +€2,749 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €26,242 | €26,562 | +€320 | +1.2% |
| Financial debts | 43 | - | €3,489 | +€3,489 | |
| Credit institutions | 430/8 | - | €3,489 | +€3,489 | |
| Trade debts | 44 | €3,696 | €2,290 | -€1,406 | -38.1% |
| Suppliers | 440/4 | €3,696 | €2,290 | -€1,406 | -38.1% |
| Advances received on contracts in progress | 46 | €2,140 | €1,370 | -€770 | -36.0% |
| Taxes, remuneration and social security | 45 | €625 | €1,432 | +€807 | +129% |
| Taxes | 450/3 | €625 | €1,432 | +€807 | +129% |
| Other amounts payable | 47/48 | - | €310 | +€310 | |
| Accrued charges and deferred income | 492/3 | €26 | €50 | +€24 | +94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,051 | €74,363 | +€2,311 | +3.2% |
| Other operating charges | 640/8 | €12,943 | €7,996 | -€4,948 | -38.2% |
| Gross operating margin | 9900 | €39,909 | €36,522 | -€3,387 | -8.5% |
| Operating profit (loss) | 9901 | -€45,086 | -€45,836 | -€750 | -1.7% |
| Financial income | 75/76B | €1,413 | €1,035 | -€379 | -26.8% |
| Recurring financial income | 75 | €1,413 | €1,035 | -€379 | -26.8% |
| Financial charges | 65/66B | €2,769 | €2,153 | -€616 | -22.3% |
| Recurring financial charges | 65 | €2,769 | €2,153 | -€616 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€46,442 | -€46,955 | -€513 | -1.1% |
| Income taxes | 67/77 | €1,049 | €1,117 | +€69 | +6.6% |
| Profit (loss) for the period | 9904 | -€47,490 | -€48,072 | -€582 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,490 | -€48,072 | -€582 | -1.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.