CREOPAN: 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.
CREOPAN
Largest movements
- Receivables within one year +€16,635
up €16,635 (+951%), from €1,749 to €18,383
of which Trade receivables: +€17,245
- Tangible fixed assets -€3,635
down €3,635 (-37.3%), from €9,739 to €6,105
of which Plant, machinery and equipment: -€1,917
- Cash -€2,569
down €2,569 (-58.5%), from €4,389 to €1,821
mainly Receivables within one year (-€16,635) and Net result for the year (-€6,986)
- Stocks and contracts +€1,430
up €1,430 (+19.3%), from €7,405 to €8,835
of which Stocks: +€2,380
- Other debts +€15,194
up €15,194 (+52.2%), from €29,125 to €44,319
- Profit (loss) carried forward -€6,986
down €6,986 (-21.2%), from -€32,908 to -€39,894
- Tax, wage and social debts +€3,318
up €3,318 (+79.0%), from €4,198 to €7,515
- Gross operating margin +€11,380
up €11,380 (+83.9%), from -€13,561 to -€2,181
- Other operating charges -€2,938
down €2,938 (-79.6%), from €3,691 to €754
- Taxes -€487
down €487, from €128 to -€359
- Financial charges -€457
down €457 (-36.9%), from €1,236 to €779
- Depreciation -€159
down €159 (-4.2%), from €3,794 to €3,635
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 | €25,009 | €36,866 | +€11,857 | +47.4% |
| Fixed assets | 21/28 | €10,619 | €6,985 | -€3,635 | -34.2% |
| Tangible fixed assets | 22/27 | €9,739 | €6,105 | -€3,635 | -37.3% |
| Plant, machinery and equipment | 23 | €3,550 | €1,633 | -€1,917 | -54.0% |
| Furniture and vehicles | 24 | €6,189 | €4,472 | -€1,718 | -27.8% |
| Financial fixed assets | 28 | €880 | €880 | = | 0.0% |
| Current assets | 29/58 | €14,390 | €29,881 | +€15,491 | +108% |
| Stocks and contracts in progress | 3 | €7,405 | €8,835 | +€1,430 | +19.3% |
| Stocks | 30/36 | €5,655 | €8,035 | +€2,380 | +42.1% |
| Contracts in progress | 37 | €1,750 | €800 | -€950 | -54.3% |
| Amounts receivable within one year | 40/41 | €1,749 | €18,383 | +€16,635 | +951% |
| Trade receivables | 40 | €1,133 | €18,378 | +€17,245 | +1,522% |
| Other amounts receivable | 41 | €615 | €5 | -€610 | -99.2% |
| Cash at bank and in hand | 54/58 | €4,389 | €1,821 | -€2,569 | -58.5% |
| Deferred charges and accrued income | 490/1 | €847 | €842 | -€5 | -0.6% |
| Total equity and liabilities | 10/49 | €25,009 | €36,866 | +€11,857 | +47.4% |
| Equity | 10/15 | -€12,457 | -€19,443 | -€6,986 | -56.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | -€32,908 | -€39,894 | -€6,986 | -21.2% |
| Amounts payable | 17/49 | €37,466 | €56,309 | +€18,843 | +50.3% |
| Amounts payable within one year | 42/48 | €37,466 | €56,309 | +€18,843 | +50.3% |
| Financial debts | 43 | - | €139 | +€139 | |
| Credit institutions | 430/8 | - | €139 | +€139 | |
| Trade debts | 44 | €2,814 | €2,700 | -€114 | -4.1% |
| Suppliers | 440/4 | €2,814 | €2,700 | -€114 | -4.1% |
| Advances received on contracts in progress | 46 | €1,330 | €1,636 | +€306 | +23.0% |
| Taxes, remuneration and social security | 45 | €4,198 | €7,515 | +€3,318 | +79.0% |
| Taxes | 450/3 | €4,198 | €7,515 | +€3,318 | +79.0% |
| Other amounts payable | 47/48 | €29,125 | €44,319 | +€15,194 | +52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,794 | €3,635 | -€159 | -4.2% |
| Other operating charges | 640/8 | €3,691 | €754 | -€2,938 | -79.6% |
| Gross operating margin | 9900 | -€13,561 | -€2,181 | +€11,380 | +83.9% |
| Operating profit (loss) | 9901 | -€21,046 | -€6,569 | +€14,477 | +68.8% |
| Financial income | 75/76B | €1 | €3 | +€2 | +113% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +113% |
| Financial charges | 65/66B | €1,236 | €779 | -€457 | -36.9% |
| Recurring financial charges | 65 | €1,236 | €779 | -€457 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | -€22,280 | -€7,345 | +€14,935 | +67.0% |
| Income taxes | 67/77 | €128 | -€359 | -€487 | |
| Profit (loss) for the period | 9904 | -€22,408 | -€6,986 | +€15,422 | +68.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,408 | -€6,986 | +€15,422 | +68.8% |
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 16 October 2026 via checked.be.