CREPI-BEL: 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.
CREPI-BEL
Largest movements
- Cash +€118,601
up €118,601 (+172%), from €68,883 to €187,484
mainly Receivables within one year (+€100,266) and Advances received (+€74,439)
- Receivables within one year -€100,266
down €100,266 (-25.5%), from €393,159 to €292,893
of which Trade receivables: -€87,047
- Stocks and contracts +€32,593
up €32,593 (+18.9%), from €172,609 to €205,203
- Tangible fixed assets +€32,588
up €32,588 (+26.5%), from €123,188 to €155,776
of which Furniture and vehicles: +€31,574
- Financial fixed assets +€19,570
up €19,570 (+133%), from €14,700 to €34,270
- Advances received +€74,439
up €74,439 (+1,069%), from €6,964 to €81,404
- Other debts -€47,562
down €47,562 (-47.2%), from €100,729 to €53,167
- Trade debts +€27,902
up €27,902 (+74.6%), from €37,379 to €65,280
- Reserves +€23,664
up €23,664 (+5.0%), from €470,558 to €494,222
of which Distributable reserves: +€23,664
- Debts after one year +€15,070
up €15,070 (+21.0%), from €71,840 to €86,910
- Write-downs +€67,619
up €67,619, from -€32,061 to €35,558
- Gross operating margin -€49,751
down €49,751 (-14.8%), from €337,226 to €287,475
- Taxes -€18,681
down €18,681 (-59.9%), from €31,180 to €12,499
- Staff costs +€13,267
up €13,267 (+10.3%), from €129,122 to €142,389
- Depreciation +€12,356
up €12,356 (+26.6%), from €46,414 to €58,770
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 | €773,790 | €875,959 | +€102,169 | +13.2% |
| Fixed assets | 21/28 | €137,888 | €190,046 | +€52,159 | +37.8% |
| Tangible fixed assets | 22/27 | €123,188 | €155,776 | +€32,588 | +26.5% |
| Plant, machinery and equipment | 23 | €17,869 | €22,614 | +€4,745 | +26.6% |
| Furniture and vehicles | 24 | €1,307 | €32,881 | +€31,574 | +2,416% |
| Leasing and similar rights | 25 | €104,012 | €100,281 | -€3,731 | -3.6% |
| Financial fixed assets | 28 | €14,700 | €34,270 | +€19,570 | +133% |
| Current assets | 29/58 | €635,902 | €685,913 | +€50,011 | +7.9% |
| Stocks and contracts in progress | 3 | €172,609 | €205,203 | +€32,593 | +18.9% |
| Stocks | 30/36 | €172,609 | €205,203 | +€32,593 | +18.9% |
| Amounts receivable within one year | 40/41 | €393,159 | €292,893 | -€100,266 | -25.5% |
| Trade receivables | 40 | €367,925 | €280,877 | -€87,047 | -23.7% |
| Other amounts receivable | 41 | €25,235 | €12,016 | -€13,219 | -52.4% |
| Cash at bank and in hand | 54/58 | €68,883 | €187,484 | +€118,601 | +172% |
| Deferred charges and accrued income | 490/1 | €1,251 | €334 | -€917 | -73.3% |
| Total equity and liabilities | 10/49 | €773,790 | €875,959 | +€102,169 | +13.2% |
| Equity | 10/15 | €476,882 | €500,546 | +€23,664 | +5.0% |
| Contributions | 10/11 | €6,324 | €6,324 | = | 0.0% |
| Reserves | 13 | €470,558 | €494,222 | +€23,664 | +5.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €470,558 | €494,222 | +€23,664 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €296,907 | €375,413 | +€78,506 | +26.4% |
| Amounts payable after more than one year | 17 | €71,840 | €86,910 | +€15,070 | +21.0% |
| Financial debts | 170/4 | €71,840 | €86,910 | +€15,070 | +21.0% |
| Amounts payable within one year | 42/48 | €222,630 | €287,204 | +€64,574 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €41,446 | €49,850 | +€8,404 | +20.3% |
| Financial debts | 43 | €13,526 | €0 | -€13,526 | -100% |
| Credit institutions | 430/8 | €13,526 | €0 | -€13,526 | -100% |
| Trade debts | 44 | €37,379 | €65,280 | +€27,902 | +74.6% |
| Suppliers | 440/4 | €37,379 | €65,280 | +€27,902 | +74.6% |
| Advances received on contracts in progress | 46 | €6,964 | €81,404 | +€74,439 | +1,069% |
| Taxes, remuneration and social security | 45 | €22,584 | €37,502 | +€14,918 | +66.1% |
| Taxes | 450/3 | €4,702 | €17,376 | +€12,674 | +270% |
| Remuneration and social security | 454/9 | €17,882 | €20,126 | +€2,244 | +12.5% |
| Other amounts payable | 47/48 | €100,729 | €53,167 | -€47,562 | -47.2% |
| Accrued charges and deferred income | 492/3 | €2,438 | €1,299 | -€1,139 | -46.7% |
| Non-recurring operating income | 76A | - | €9,630 | +€9,630 | |
| Remuneration, social security and pensions | 62 | €129,122 | €142,389 | +€13,267 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,414 | €58,770 | +€12,356 | +26.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€32,061 | €35,558 | +€67,619 | |
| Other operating charges | 640/8 | €4,449 | €5,861 | +€1,412 | +31.7% |
| Non-recurring operating charges | 66A | €38,974 | €0 | -€38,974 | -100% |
| Gross operating margin | 9900 | €337,226 | €287,475 | -€49,751 | -14.8% |
| Operating profit (loss) | 9901 | €150,328 | €44,897 | -€105,431 | -70.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €10,016 | €8,735 | -€1,281 | -12.8% |
| Recurring financial charges | 65 | €10,016 | €8,735 | -€1,281 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €140,312 | €36,162 | -€104,150 | -74.2% |
| Income taxes | 67/77 | €31,180 | €12,499 | -€18,681 | -59.9% |
| Profit (loss) for the period | 9904 | €109,132 | €23,664 | -€85,469 | -78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €109,132 | €23,664 | -€85,469 | -78.3% |
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 29 October 2026 via checked.be.