CREOVA: 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.
CREOVA
Largest movements
- Tangible fixed assets +€389,809
up €389,809 (+1129.8%), from €34,501 to €424,310
of which Land and buildings: +€396,949
- Cash -€124,761
down €124,761 (-69.5%), from €179,578 to €54,817
mainly Investment in fixed assets (net) (-€401,680) and Other debts (-€25,000)
- Receivables within one year -€12,056
down €12,056 (-27.8%), from €43,337 to €31,281
of which Other amounts receivable: -€19,214
- Receivables after one year -€11,350
down €11,350 (-35.8%), from €31,741 to €20,391
- Debts after one year +€260,000
new in 2025: €260,000
- Other debts -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Profit (loss) carried forward +€15,171
up €15,171 (+6.5%), from €232,452 to €247,623
- Tax, wage and social debts -€11,765
down €11,765 (-74.3%), from €15,830 to €4,065
of which Taxes: -€9,615
- Gross operating margin -€10,191
down €10,191 (-20.9%), from €48,759 to €38,568
- Taxes -€5,236
down €5,236 (-42.1%), from €12,424 to €7,189
- Depreciation +€3,954
up €3,954 (+49.9%), from €7,917 to €11,871
- Financial charges +€3,686
up €3,686 (+1514.0%), from €243 to €3,930
- Financial income -€1,133
down €1,133 (-41.7%), from €2,717 to €1,585
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 | €293,879 | €533,806 | +€239,927 | +81.6% |
| Fixed assets | 21/28 | €34,501 | €424,310 | +€389,809 | +1129.8% |
| Tangible fixed assets | 22/27 | €34,501 | €424,310 | +€389,809 | +1129.8% |
| Land and buildings | 22 | €1,360 | €398,309 | +€396,949 | +29192.0% |
| Plant, machinery and equipment | 23 | €1,416 | €1,179 | -€237 | -16.7% |
| Furniture and vehicles | 24 | €24,460 | €18,086 | -€6,373 | -26.1% |
| Other tangible fixed assets | 26 | €7,266 | €6,736 | -€531 | -7.3% |
| Current assets | 29/58 | €259,378 | €109,496 | -€149,882 | -57.8% |
| Amounts receivable after more than one year | 29 | €31,741 | €20,391 | -€11,350 | -35.8% |
| Other amounts receivable | 291 | €31,741 | €20,391 | -€11,350 | -35.8% |
| Amounts receivable within one year | 40/41 | €43,337 | €31,281 | -€12,056 | -27.8% |
| Trade receivables | 40 | €23,062 | €30,220 | +€7,158 | +31.0% |
| Other amounts receivable | 41 | €20,276 | €1,061 | -€19,214 | -94.8% |
| Cash at bank and in hand | 54/58 | €179,578 | €54,817 | -€124,761 | -69.5% |
| Deferred charges and accrued income | 490/1 | €4,721 | €3,007 | -€1,715 | -36.3% |
| Total equity and liabilities | 10/49 | €293,879 | €533,806 | +€239,927 | +81.6% |
| Equity | 10/15 | €252,912 | €268,083 | +€15,171 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,452 | €247,623 | +€15,171 | +6.5% |
| Amounts payable | 17/49 | €40,967 | €265,723 | +€224,756 | +548.6% |
| Amounts payable after more than one year | 17 | - | €260,000 | +€260,000 | |
| Financial debts | 170/4 | - | €260,000 | +€260,000 | |
| Amounts payable within one year | 42/48 | €40,967 | €5,723 | -€35,244 | -86.0% |
| Financial debts | 43 | €137 | €144 | +€7 | +5.2% |
| Other loans | 439 | €137 | €144 | +€7 | +5.2% |
| Trade debts | 44 | €0 | €1,514 | +€1,514 | |
| Suppliers | 440/4 | €0 | €1,514 | +€1,514 | |
| Taxes, remuneration and social security | 45 | €15,830 | €4,065 | -€11,765 | -74.3% |
| Taxes | 450/3 | €13,680 | €4,065 | -€9,615 | -70.3% |
| Remuneration and social security | 454/9 | €2,150 | €0 | -€2,150 | -100.0% |
| Other amounts payable | 47/48 | €25,000 | €0 | -€25,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,917 | €11,871 | +€3,954 | +49.9% |
| Other operating charges | 640/8 | €1,154 | €1,915 | +€761 | +65.9% |
| Non-recurring operating charges | 66A | - | €78 | +€78 | |
| Gross operating margin | 9900 | €48,759 | €38,568 | -€10,191 | -20.9% |
| Operating profit (loss) | 9901 | €39,688 | €24,705 | -€14,983 | -37.8% |
| Financial income | 75/76B | €2,717 | €1,585 | -€1,133 | -41.7% |
| Recurring financial income | 75 | €2,717 | €1,585 | -€1,133 | -41.7% |
| Financial charges | 65/66B | €243 | €3,930 | +€3,686 | +1514.0% |
| Recurring financial charges | 65 | €243 | €3,930 | +€3,686 | +1514.0% |
| Profit (loss) for the period before taxes | 9903 | €42,162 | €22,360 | -€19,802 | -47.0% |
| Income taxes | 67/77 | €12,424 | €7,189 | -€5,236 | -42.1% |
| Profit (loss) for the period | 9904 | €29,738 | €15,171 | -€14,567 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,738 | €15,171 | -€14,567 | -49.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.