CREFIN PROJECTS: 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.
CREFIN PROJECTS
Largest movements
- Stocks and contracts +€56,907
up €56,907 (+70.7%), from €80,512 to €137,419
- Cash -€43,963
down €43,963 (-6.8%), from €643,797 to €599,833
mainly Stocks and contracts (-€56,907) and Current investments (-€7,000)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€75,370
down €75,370 (-1458.3%), from -€5,168 to -€80,539
- Financial income +€38,714
up €38,714 (+54.2%), from €71,367 to €110,081
of which Non-recurring financial income: +€76,382
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 | €2,650,901 | €2,674,179 | +€23,278 | +0.9% |
| Current assets | 29/58 | €2,650,901 | €2,674,179 | +€23,278 | +0.9% |
| Stocks and contracts in progress | 3 | €80,512 | €137,419 | +€56,907 | +70.7% |
| Stocks | 30/36 | €80,512 | €137,419 | +€56,907 | +70.7% |
| Amounts receivable within one year | 40/41 | €22,881 | €25,288 | +€2,407 | +10.5% |
| Other amounts receivable | 41 | €22,881 | €25,288 | +€2,407 | +10.5% |
| Current investments | 50/53 | €1,900,000 | €1,907,000 | +€7,000 | +0.4% |
| Cash at bank and in hand | 54/58 | €643,797 | €599,833 | -€43,963 | -6.8% |
| Deferred charges and accrued income | 490/1 | €3,711 | €4,638 | +€928 | +25.0% |
| Total equity and liabilities | 10/49 | €2,650,901 | €2,674,179 | +€23,278 | +0.9% |
| Equity | 10/15 | €1,662,205 | €1,669,081 | +€6,877 | +0.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €162,205 | €169,081 | +€6,877 | +4.2% |
| Distributable reserves | 133 | €162,205 | €169,081 | +€6,877 | +4.2% |
| Amounts payable | 17/49 | €988,696 | €1,005,097 | +€16,401 | +1.7% |
| Amounts payable after more than one year | 17 | €700,000 | €700,000 | = | 0.0% |
| Other amounts payable | 178/9 | €700,000 | €700,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €77,488 | €72,889 | -€4,599 | -5.9% |
| Trade debts | 44 | €70,609 | €71,873 | +€1,265 | +1.8% |
| Suppliers | 440/4 | €70,609 | €71,873 | +€1,265 | +1.8% |
| Other amounts payable | 47/48 | €6,879 | €1,016 | -€5,863 | -85.2% |
| Accrued charges and deferred income | 492/3 | €211,208 | €232,208 | +€21,000 | +9.9% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | -€5,168 | -€80,539 | -€75,370 | -1458.3% |
| Operating profit (loss) | 9901 | -€6,198 | -€81,599 | -€75,401 | -1216.5% |
| Financial income | 75/76B | €71,367 | €110,081 | +€38,714 | +54.2% |
| Recurring financial income | 75 | €71,367 | €33,699 | -€37,668 | -52.8% |
| Non-recurring financial income | 76B | - | €76,382 | +€76,382 | |
| Financial charges | 65/66B | €21,417 | €21,605 | +€188 | +0.9% |
| Recurring financial charges | 65 | €21,417 | €21,605 | +€188 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €43,752 | €6,877 | -€36,875 | -84.3% |
| Profit (loss) for the period | 9904 | €43,752 | €6,877 | -€36,875 | -84.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,752 | €6,877 | -€36,875 | -84.3% |
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 12 October 2026 via checked.be.