CREOS: 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.
CREOS
Largest movements
- Cash +€144,952
up €144,952 (+261.4%), from €55,454 to €200,406
mainly Debts after one year (+€144,954) and Trade debts (+€97,480)
- Tangible fixed assets +€95,415
up €95,415 (+20.9%), from €456,859 to €552,274
of which Furniture and vehicles: +€118,745
- Receivables within one year +€40,371
up €40,371 (+75.8%), from €53,292 to €93,663
of which Other amounts receivable: +€23,506
- Stocks and contracts +€15,689
up €15,689 (+35.4%), from €44,300 to €59,989
- Debts after one year +€144,954
up €144,954 (+183.8%), from €78,870 to €223,824
- Trade debts +€97,480
up €97,480 (+228.6%), from €42,634 to €140,113
- Current portion of long-term debt +€52,653
up €52,653 (+131.9%), from €39,925 to €92,577
- Reserves +€52,547
up €52,547 (+39.5%), from €133,060 to €185,607
of which Distributable reserves: +€52,547
- Other debts -€49,941
down €49,941 (-26.6%), from €188,075 to €138,134
- Gross operating margin +€27,445
up €27,445 (+22.4%), from €122,458 to €149,902
- Financial charges +€11,396
up €11,396 (+218.9%), from €5,205 to €16,601
- Other operating charges +€4,251
up €4,251 (+118.4%), from €3,589 to €7,840
- Taxes +€2,678
up €2,678 (+12.5%), from €21,422 to €24,100
- Depreciation -€1,864
down €1,864 (-3.7%), from €50,059 to €48,194
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 | €610,730 | €909,381 | +€298,651 | +48.9% |
| Fixed assets | 21/28 | €456,859 | €552,274 | +€95,415 | +20.9% |
| Tangible fixed assets | 22/27 | €456,859 | €552,274 | +€95,415 | +20.9% |
| Land and buildings | 22 | €407,645 | €386,074 | -€21,571 | -5.3% |
| Plant, machinery and equipment | 23 | €4,591 | €2,832 | -€1,759 | -38.3% |
| Furniture and vehicles | 24 | €44,623 | €163,368 | +€118,745 | +266.1% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €153,871 | €357,107 | +€203,235 | +132.1% |
| Stocks and contracts in progress | 3 | €44,300 | €59,989 | +€15,689 | +35.4% |
| Stocks | 30/36 | €44,300 | €59,989 | +€15,689 | +35.4% |
| Amounts receivable within one year | 40/41 | €53,292 | €93,663 | +€40,371 | +75.8% |
| Trade receivables | 40 | €47,515 | €64,380 | +€16,865 | +35.5% |
| Other amounts receivable | 41 | €5,778 | €29,283 | +€23,506 | +406.8% |
| Cash at bank and in hand | 54/58 | €55,454 | €200,406 | +€144,952 | +261.4% |
| Deferred charges and accrued income | 490/1 | €825 | €3,049 | +€2,223 | +269.4% |
| Total equity and liabilities | 10/49 | €610,730 | €909,381 | +€298,651 | +48.9% |
| Equity | 10/15 | €231,738 | €284,285 | +€52,547 | +22.7% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Revaluation surpluses | 12 | €6,535 | €6,535 | = | 0.0% |
| Reserves | 13 | €133,060 | €185,607 | +€52,547 | +39.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €133,060 | €185,607 | +€52,547 | +39.5% |
| Profit (loss) carried forward | 14 | €13,543 | €13,543 | = | 0.0% |
| Amounts payable | 17/49 | €378,992 | €625,095 | +€246,104 | +64.9% |
| Amounts payable after more than one year | 17 | €78,870 | €223,824 | +€144,954 | +183.8% |
| Financial debts | 170/4 | €78,870 | €223,824 | +€144,954 | +183.8% |
| Amounts payable within one year | 42/48 | €300,122 | €389,618 | +€89,497 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €39,925 | €92,577 | +€52,653 | +131.9% |
| Financial debts | 43 | €8,414 | €12,523 | +€4,110 | +48.8% |
| Credit institutions | 430/8 | €8,414 | €12,523 | +€4,110 | +48.8% |
| Trade debts | 44 | €42,634 | €140,113 | +€97,480 | +228.6% |
| Suppliers | 440/4 | €42,634 | €140,113 | +€97,480 | +228.6% |
| Taxes, remuneration and social security | 45 | €21,075 | €6,270 | -€14,805 | -70.2% |
| Taxes | 450/3 | €21,075 | €6,270 | -€14,805 | -70.2% |
| Other amounts payable | 47/48 | €188,075 | €138,134 | -€49,941 | -26.6% |
| Accrued charges and deferred income | 492/3 | - | €11,653 | +€11,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,059 | €48,194 | -€1,864 | -3.7% |
| Other operating charges | 640/8 | €3,589 | €7,840 | +€4,251 | +118.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €122,458 | €149,902 | +€27,445 | +22.4% |
| Operating profit (loss) | 9901 | €68,810 | €93,868 | +€25,059 | +36.4% |
| Financial income | 75/76B | €5 | €213 | +€209 | +4626.4% |
| Recurring financial income | 75 | €5 | €213 | +€209 | +4626.4% |
| Financial charges | 65/66B | €5,205 | €16,601 | +€11,396 | +218.9% |
| Recurring financial charges | 65 | €5,205 | €16,601 | +€11,396 | +218.9% |
| Profit (loss) for the period before taxes | 9903 | €63,609 | €77,480 | +€13,871 | +21.8% |
| Income taxes | 67/77 | €21,422 | €24,100 | +€2,678 | +12.5% |
| Profit (loss) for the period | 9904 | €42,186 | €53,380 | +€11,194 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,186 | €53,380 | +€11,194 | +26.5% |
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 7 October 2026 via checked.be.