CreFin: 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.
CreFin
Largest movements
- Cash +€66,855
up €66,855 (+33.1%), from €201,975 to €268,830
mainly Depreciation (+€66,641) and Other debts (+€37,805)
- Tangible fixed assets -€64,641
down €64,641 (-6.5%), from €987,984 to €923,343
of which Land and buildings: -€38,803
- Other debts +€37,805
up €37,805 (+3818.7%), from €990 to €38,795
- Debts after one year -€30,567
down €30,567 (-10.1%), from €303,254 to €272,687
- Gross operating margin +€11,988
up €11,988 (+11.1%), from €108,339 to €120,327
- Depreciation +€5,697
up €5,697 (+9.3%), from €60,944 to €66,641
- Staff costs +€1,906
up €1,906 (+143.8%), from €1,325 to €3,231
- Taxes +€1,539
up €1,539 (+16.5%), from €9,349 to €10,888
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 | €1,205,736 | €1,209,490 | +€3,754 | +0.3% |
| Fixed assets | 21/28 | €992,561 | €925,920 | -€66,641 | -6.7% |
| Intangible fixed assets | 21 | €4,577 | €2,577 | -€2,000 | -43.7% |
| Tangible fixed assets | 22/27 | €987,984 | €923,343 | -€64,641 | -6.5% |
| Land and buildings | 22 | €866,647 | €827,844 | -€38,803 | -4.5% |
| Plant, machinery and equipment | 23 | €1,739 | €1,444 | -€295 | -17.0% |
| Furniture and vehicles | 24 | €119,598 | €94,055 | -€25,543 | -21.4% |
| Current assets | 29/58 | €213,175 | €283,570 | +€70,395 | +33.0% |
| Amounts receivable within one year | 40/41 | €11,200 | €14,740 | +€3,540 | +31.6% |
| Trade receivables | 40 | €11,200 | €14,740 | +€3,540 | +31.6% |
| Cash at bank and in hand | 54/58 | €201,975 | €268,830 | +€66,855 | +33.1% |
| Total equity and liabilities | 10/49 | €1,205,736 | €1,209,490 | +€3,754 | +0.3% |
| Equity | 10/15 | €861,227 | €856,968 | -€4,259 | -0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €855,027 | €850,768 | -€4,259 | -0.5% |
| 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 | €853,167 | €848,908 | -€4,259 | -0.5% |
| Amounts payable | 17/49 | €344,509 | €352,522 | +€8,013 | +2.3% |
| Amounts payable after more than one year | 17 | €303,254 | €272,687 | -€30,567 | -10.1% |
| Financial debts | 170/4 | €303,254 | €272,687 | -€30,567 | -10.1% |
| Amounts payable within one year | 42/48 | €41,255 | €79,835 | +€38,580 | +93.5% |
| Current portion of amounts payable after more than one year | 42 | €30,218 | €30,567 | +€349 | +1.2% |
| Trade debts | 44 | €2,429 | €1,628 | -€801 | -33.0% |
| Suppliers | 440/4 | €2,429 | €1,628 | -€801 | -33.0% |
| Taxes, remuneration and social security | 45 | €7,618 | €8,845 | +€1,227 | +16.1% |
| Taxes | 450/3 | €7,618 | €8,845 | +€1,227 | +16.1% |
| Other amounts payable | 47/48 | €990 | €38,795 | +€37,805 | +3818.7% |
| Remuneration, social security and pensions | 62 | €1,325 | €3,231 | +€1,906 | +143.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,944 | €66,641 | +€5,697 | +9.3% |
| Other operating charges | 640/8 | €2,945 | €3,092 | +€147 | +5.0% |
| Gross operating margin | 9900 | €108,339 | €120,327 | +€11,988 | +11.1% |
| Operating profit (loss) | 9901 | €43,125 | €47,363 | +€4,238 | +9.8% |
| Financial income | 75/76B | €429 | €841 | +€412 | +96.0% |
| Recurring financial income | 75 | €429 | €841 | +€412 | +96.0% |
| Financial charges | 65/66B | €4,176 | €3,823 | -€353 | -8.5% |
| Recurring financial charges | 65 | €4,176 | €3,823 | -€353 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €39,378 | €44,381 | +€5,003 | +12.7% |
| Income taxes | 67/77 | €9,349 | €10,888 | +€1,539 | +16.5% |
| Profit (loss) for the period | 9904 | €30,029 | €33,493 | +€3,464 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €30,029 | €33,493 | +€3,464 | +11.5% |
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 8 October 2026 via checked.be.