Crefido: 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.
Crefido
Largest movements
- Receivables within one year +€26,729
up €26,729 (+24.9%), from €107,173 to €133,902
of which Trade receivables: +€20,919
- Tangible fixed assets -€5,566
down €5,566 (-25.2%), from €22,115 to €16,549
of which Furniture and vehicles: -€3,039
- Reserves +€51,728
up €51,728 (+45.5%), from €113,702 to €165,430
- Other debts -€30,000
no longer reported in 2025 (was €30,000)
- Trade debts -€4,375
down €4,375 (-58.7%), from €7,450 to €3,075
- Tax, wage and social debts +€3,647
up €3,647 (+21.1%), from €17,305 to €20,952
- Debts after one year -€3,452
down €3,452 (-92.2%), from €3,745 to €294
- Gross operating margin +€36,072
up €36,072 (+101%), from €35,693 to €71,765
- Write-downs -€32,740
no longer reported in 2025 (was €32,740)
- Taxes +€14,132
up €14,132 (+3,789%), from €373 to €14,505
- Financial charges -€3,937
down €3,937 (-86.0%), from €4,581 to €643
- Financial income -€1,284
down €1,284 (-36.3%), from €3,542 to €2,258
of which Non-recurring financial income: -€2,262
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 | €194,157 | €211,839 | +€17,682 | +9.1% |
| Fixed assets | 21/28 | €22,115 | €16,549 | -€5,566 | -25.2% |
| Tangible fixed assets | 22/27 | €22,115 | €16,549 | -€5,566 | -25.2% |
| Plant, machinery and equipment | 23 | €251 | €0 | -€251 | -100% |
| Furniture and vehicles | 24 | €11,710 | €8,670 | -€3,039 | -26.0% |
| Other tangible fixed assets | 26 | €10,154 | €7,878 | -€2,276 | -22.4% |
| Current assets | 29/58 | €172,042 | €195,291 | +€23,248 | +13.5% |
| Amounts receivable within one year | 40/41 | €107,173 | €133,902 | +€26,729 | +24.9% |
| Trade receivables | 40 | €32,932 | €53,851 | +€20,919 | +63.5% |
| Other amounts receivable | 41 | €74,241 | €80,051 | +€5,810 | +7.8% |
| Cash at bank and in hand | 54/58 | €42,727 | €41,134 | -€1,592 | -3.7% |
| Deferred charges and accrued income | 490/1 | €22,142 | €20,254 | -€1,888 | -8.5% |
| Total equity and liabilities | 10/49 | €194,157 | €211,839 | +€17,682 | +9.1% |
| Equity | 10/15 | €132,302 | €184,030 | +€51,728 | +39.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €113,702 | €165,430 | +€51,728 | +45.5% |
| Distributable reserves | 133 | €113,702 | €165,430 | +€51,728 | +45.5% |
| Amounts payable | 17/49 | €61,855 | €27,809 | -€34,046 | -55.0% |
| Amounts payable after more than one year | 17 | €3,745 | €294 | -€3,452 | -92.2% |
| Financial debts | 170/4 | €3,745 | €294 | -€3,452 | -92.2% |
| Amounts payable within one year | 42/48 | €58,110 | €27,515 | -€30,595 | -52.6% |
| Current portion of amounts payable after more than one year | 42 | €3,321 | €3,452 | +€131 | +3.9% |
| Financial debts | 43 | €33 | €36 | +€3 | +8.4% |
| Credit institutions | 430/8 | €33 | €36 | +€3 | +8.4% |
| Trade debts | 44 | €7,450 | €3,075 | -€4,375 | -58.7% |
| Suppliers | 440/4 | €7,450 | €3,075 | -€4,375 | -58.7% |
| Taxes, remuneration and social security | 45 | €17,305 | €20,952 | +€3,647 | +21.1% |
| Taxes | 450/3 | €17,305 | €20,952 | +€3,647 | +21.1% |
| Other amounts payable | 47/48 | €30,000 | - | -€30,000 | |
| Remuneration, social security and pensions | 62 | €513 | €553 | +€41 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,789 | €5,566 | -€223 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,740 | - | -€32,740 | |
| Other operating charges | 640/8 | €1,378 | €1,027 | -€351 | -25.5% |
| Gross operating margin | 9900 | €35,693 | €71,765 | +€36,072 | +101% |
| Operating profit (loss) | 9901 | -€4,727 | €64,619 | +€69,345 | |
| Financial income | 75/76B | €3,542 | €2,258 | -€1,284 | -36.3% |
| Recurring financial income | 75 | €1,279 | €2,258 | +€978 | +76.5% |
| Non-recurring financial income | 76B | €2,262 | - | -€2,262 | |
| Financial charges | 65/66B | €4,581 | €643 | -€3,937 | -86.0% |
| Recurring financial charges | 65 | €4,581 | €643 | -€3,937 | -86.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,765 | €66,233 | +€71,999 | |
| Income taxes | 67/77 | €373 | €14,505 | +€14,132 | +3,789% |
| Profit (loss) for the period | 9904 | -€6,138 | €51,728 | +€57,866 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,138 | €51,728 | +€57,866 |
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 25 October 2026 via checked.be.