CREFIUS: 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.
What changed
CREFIUS
NACE 64.190, Financial service activities, except insurance and pension funding
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.1m
2024 · €4.1m+€978,115
Equity
€18.5m
2024 · €17.8m+€608,560
Cash
€6.9m
2024 · €7.4m-€512,744
Balance sheet total
€28.1m
2024 · €28.7m-€578,684
Largest movements
Assets
- Intangible fixed assets +€886,203
up €886,203 (+11.2%), from €7.9m to €8.8m
- Receivables within one year -€771,400
down €771,400 (-20.2%), from €3.8m to €3.0m
of which Trade receivables: -€691,491
- Cash -€512,744
down €512,744 (-6.9%), from €7.4m to €6.9m
mainly Contributions, distributions and other (-€4.5m) and Investment in fixed assets (net) (-€2.5m)
Equity and liabilities
- Other debts -€1.0m
down €1.0m (-18.3%), from €5.5m to €4.5m
- Profit (loss) carried forward +€902,778
up €902,778 (+111.0%), from €813,112 to €1.7m
- Reserves -€294,218
down €294,218 (-2.0%), from €14.5m to €14.2m
of which Tax-exempt reserves: -€294,218
Income statement
- Turnover +€1.4m
up €1.4m (+4.1%), from €35.5m to €36.9m
- Staff costs +€868,548
up €868,548 (+5.2%), from €16.6m to €17.5m
- Services and other goods -€836,994
down €836,994 (-6.8%), from €12.4m to €11.6m
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.
Result 2024
€4.1m
Turnover
+€1.4m
Other operating income
-€158,501
Services and other goods
+€836,994
Staff costs
-€868,548
Depreciation
-€89,160
Provisions
+€93,718
Other operating charges
-€1,154
Other operating items
-€57,702
Financial income
-€36,220
Financial charges
-€284
Taxes
-€194,091
Deferred taxes and other
+€5,276
Result 2025
€5.1m
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.
From operations
+€6.5m
Investment
-€2.5m
Financing
-€4.5m
Cash 2024
€7.4m
From operations (derived)
+€6.5m
Net result for the year
+€5.1m
Depreciation
+€1.8m
Receivables within one year
+€771,400
Smaller working-capital items
-€15,398
Provisions
-€269,572
Tax, wage and social debts
+€75,958
Other debts
-€1.0m
Accrued charges and deferred income
+€24,084
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€2.5m
Financing
-€4.5m
Contributions, distributions and other
-€4.5m
Cash 2025
€6.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,665,417 | €28,086,733 | -€578,684 | -2.0% |
| Fixed assets | 21/28 | €12,012,875 | €12,715,338 | +€702,463 | +5.8% |
| Intangible fixed assets | 21 | €7,898,770 | €8,784,973 | +€886,203 | +11.2% |
| Tangible fixed assets | 22/27 | €4,104,472 | €3,920,732 | -€183,740 | -4.5% |
| Land and buildings | 22 | €2,818,740 | €2,792,537 | -€26,203 | -0.9% |
| Plant, machinery and equipment | 23 | €331,009 | €285,981 | -€45,028 | -13.6% |
| Furniture and vehicles | 24 | €922,015 | €816,378 | -€105,637 | -11.5% |
| Other tangible fixed assets | 26 | €32,708 | €25,836 | -€6,872 | -21.0% |
| Financial fixed assets | 28 | €9,633 | €9,633 | = | 0.0% |
| Other financial fixed assets | 284/8 | €9,633 | €9,633 | = | 0.0% |
| Shares | 284 | €6,746 | €6,746 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,887 | €2,887 | = | 0.0% |
| Current assets | 29/58 | €16,652,542 | €15,371,395 | -€1.3m | -7.7% |
| Amounts receivable within one year | 40/41 | €3,810,200 | €3,038,800 | -€771,400 | -20.2% |
| Trade receivables | 40 | €3,103,193 | €2,411,702 | -€691,491 | -22.3% |
| Other amounts receivable | 41 | €707,007 | €627,098 | -€79,909 | -11.3% |
| Current investments | 50/53 | €5,000,000 | €5,000,000 | = | 0.0% |
| Other investments | 51/53 | €5,000,000 | €5,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,433,807 | €6,921,063 | -€512,744 | -6.9% |
| Deferred charges and accrued income | 490/1 | €408,535 | €411,532 | +€2,997 | +0.7% |
| Total equity and liabilities | 10/49 | €28,665,417 | €28,086,733 | -€578,684 | -2.0% |
| Equity | 10/15 | €17,846,919 | €18,455,479 | +€608,560 | +3.4% |
| Contributions | 10/11 | €2,500,000 | €2,500,000 | = | 0.0% |
| Capital | 10 | €2,500,000 | €2,500,000 | = | 0.0% |
| Issued capital | 100 | €2,500,000 | €2,500,000 | = | 0.0% |
| Reserves | 13 | €14,533,807 | €14,239,589 | -€294,218 | -2.0% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Legal reserve | 130 | €250,000 | €250,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,042,387 | €748,169 | -€294,218 | -28.2% |
| Distributable reserves | 133 | €13,241,420 | €13,241,420 | = | 0.0% |
| Profit (loss) carried forward | 14 | €813,112 | €1,715,890 | +€902,778 | +111.0% |
| Provisions and deferred taxes | 16 | €1,078,157 | €808,585 | -€269,572 | -25.0% |
| Provisions for liabilities and charges | 160/5 | €730,695 | €559,195 | -€171,500 | -23.5% |
| Other liabilities and charges | 164/5 | €730,695 | €559,195 | -€171,500 | -23.5% |
| Deferred taxes | 168 | €347,462 | €249,390 | -€98,072 | -28.2% |
| Amounts payable | 17/49 | €9,740,341 | €8,822,669 | -€917,672 | -9.4% |
| Amounts payable within one year | 42/48 | €9,656,949 | €8,715,193 | -€941,756 | -9.8% |
| Trade debts | 44 | €1,071,492 | €1,059,091 | -€12,401 | -1.2% |
| Suppliers | 440/4 | €1,071,492 | €1,059,091 | -€12,401 | -1.2% |
| Advances received on contracts in progress | 46 | €1,500 | €1,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,095,492 | €3,171,450 | +€75,958 | +2.5% |
| Taxes | 450/3 | €453,048 | €595,662 | +€142,614 | +31.5% |
| Remuneration and social security | 454/9 | €2,642,444 | €2,575,788 | -€66,656 | -2.5% |
| Other amounts payable | 47/48 | €5,488,465 | €4,483,152 | -€1.0m | -18.3% |
| Accrued charges and deferred income | 492/3 | €83,392 | €107,476 | +€24,084 | +28.9% |
| Operating income | 70/76A | €36,253,670 | €37,441,840 | +€1.2m | +3.3% |
| Turnover | 70 | €35,474,780 | €36,922,567 | +€1.4m | +4.1% |
| Other operating income | 74 | €650,555 | €492,054 | -€158,501 | -24.4% |
| Non-recurring operating income | 76A | €128,335 | €27,219 | -€101,116 | -78.8% |
| Operating charges | 60/66A | €30,715,985 | €30,700,721 | -€15,264 | 0.0% |
| Services and other goods | 61 | €12,396,296 | €11,559,302 | -€836,994 | -6.8% |
| Remuneration, social security and pensions | 62 | €16,586,195 | €17,454,743 | +€868,548 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,698,509 | €1,787,669 | +€89,160 | +5.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€77,782 | -€171,500 | -€93,718 | -120.5% |
| Other operating charges | 640/8 | €68,910 | €70,064 | +€1,154 | +1.7% |
| Non-recurring operating charges | 66A | €43,857 | €443 | -€43,414 | -99.0% |
| Operating profit (loss) | 9901 | €5,537,685 | €6,741,119 | +€1.2m | +21.7% |
| Financial income | 75/76B | €153,766 | €117,546 | -€36,220 | -23.6% |
| Recurring financial income | 75 | €153,766 | €117,546 | -€36,220 | -23.6% |
| Income from financial fixed assets | 750 | €723 | €725 | +€2 | +0.3% |
| Income from current assets | 751 | €153,043 | €116,821 | -€36,222 | -23.7% |
| Financial charges | 65/66B | €12,418 | €12,702 | +€284 | +2.3% |
| Recurring financial charges | 65 | €12,418 | €12,702 | +€284 | +2.3% |
| Debt charges | 650 | €12,418 | €12,702 | +€284 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €5,679,033 | €6,845,963 | +€1.2m | +20.5% |
| Transfer from deferred taxes | 780 | €92,796 | €98,072 | +€5,276 | +5.7% |
| Income taxes | 67/77 | €1,662,710 | €1,856,801 | +€194,091 | +11.7% |
| Taxes | 670/3 | €1,662,710 | €1,889,908 | +€227,198 | +13.7% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €33,107 | +€33,107 | |
| Profit (loss) for the period | 9904 | €4,109,119 | €5,087,234 | +€978,115 | +23.8% |
| Transfer from tax-exempt reserves | 789 | €278,389 | €294,218 | +€15,829 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,387,508 | €5,381,452 | +€993,944 | +22.7% |
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 2 October 2026 via checked.be.