CRETEC: 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.
CRETEC
Largest movements
- Tangible fixed assets +€61,753
up €61,753 (+68.0%), from €90,768 to €152,520
of which Other tangible fixed assets: +€35,827
- Receivables within one year -€55,980
down €55,980 (-43.9%), from €127,544 to €71,564
of which Trade receivables: -€62,507
- Receivables after one year +€23,500
up €23,500 (+13.8%), from €169,955 to €193,455
- Cash -€21,425
down €21,425 (-20.5%), from €104,302 to €82,877
mainly Investment in fixed assets (net) (-€94,957) and Receivables after one year (-€23,500)
- Intangible fixed assets -€6,545
down €6,545 (-35.3%), from €18,544 to €11,999
- Tax, wage and social debts -€17,799
down €17,799 (-63.1%), from €28,219 to €10,420
of which Taxes: -€15,329
- Current portion of long-term debt +€12,831
up €12,831, from €0 to €12,831
- Reserves +€11,051
up €11,051 (+3.0%), from €373,234 to €384,285
- Other debts -€7,203
down €7,203 (-25.6%), from €28,171 to €20,968
- Gross operating margin -€31,209
down €31,209 (-25.3%), from €123,430 to €92,221
- Other operating charges +€13,427
up €13,427 (+202.6%), from €6,628 to €20,055
- Staff costs -€12,509
down €12,509 (-51.2%), from €24,423 to €11,914
- Taxes -€11,450
down €11,450 (-60.1%), from €19,042 to €7,592
- Depreciation +€8,092
up €8,092 (+25.6%), from €31,657 to €39,749
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 | €524,798 | €528,369 | +€3,571 | +0.7% |
| Fixed assets | 21/28 | €109,312 | €164,519 | +€55,208 | +50.5% |
| Intangible fixed assets | 21 | €18,544 | €11,999 | -€6,545 | -35.3% |
| Tangible fixed assets | 22/27 | €90,768 | €152,520 | +€61,753 | +68.0% |
| Plant, machinery and equipment | 23 | €13,723 | €22,956 | +€9,232 | +67.3% |
| Furniture and vehicles | 24 | €14,686 | €36,464 | +€21,778 | +148.3% |
| Leasing and similar rights | 25 | €9,815 | €4,731 | -€5,085 | -51.8% |
| Other tangible fixed assets | 26 | €52,543 | €88,370 | +€35,827 | +68.2% |
| Current assets | 29/58 | €415,486 | €363,850 | -€51,637 | -12.4% |
| Amounts receivable after more than one year | 29 | €169,955 | €193,455 | +€23,500 | +13.8% |
| Other amounts receivable | 291 | €169,955 | €193,455 | +€23,500 | +13.8% |
| Stocks and contracts in progress | 3 | €9,237 | €10,137 | +€900 | +9.7% |
| Stocks | 30/36 | €9,237 | €10,137 | +€900 | +9.7% |
| Amounts receivable within one year | 40/41 | €127,544 | €71,564 | -€55,980 | -43.9% |
| Trade receivables | 40 | €126,586 | €64,079 | -€62,507 | -49.4% |
| Other amounts receivable | 41 | €958 | €7,485 | +€6,527 | +681.3% |
| Cash at bank and in hand | 54/58 | €104,302 | €82,877 | -€21,425 | -20.5% |
| Deferred charges and accrued income | 490/1 | €4,449 | €5,817 | +€1,368 | +30.7% |
| Total equity and liabilities | 10/49 | €524,798 | €528,369 | +€3,571 | +0.7% |
| Equity | 10/15 | €403,234 | €414,285 | +€11,051 | +2.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €373,234 | €384,285 | +€11,051 | +3.0% |
| Distributable reserves | 133 | €373,234 | €384,285 | +€11,051 | +3.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €121,564 | €114,084 | -€7,480 | -6.2% |
| Amounts payable after more than one year | 17 | €50,000 | €50,239 | +€239 | +0.5% |
| Financial debts | 170/4 | €50,000 | €50,239 | +€239 | +0.5% |
| Amounts payable within one year | 42/48 | €71,361 | €63,846 | -€7,516 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €12,831 | +€12,831 | |
| Trade debts | 44 | €14,972 | €19,627 | +€4,655 | +31.1% |
| Suppliers | 440/4 | €14,972 | €19,627 | +€4,655 | +31.1% |
| Taxes, remuneration and social security | 45 | €28,219 | €10,420 | -€17,799 | -63.1% |
| Taxes | 450/3 | €19,323 | €3,994 | -€15,329 | -79.3% |
| Remuneration and social security | 454/9 | €8,896 | €6,426 | -€2,470 | -27.8% |
| Other amounts payable | 47/48 | €28,171 | €20,968 | -€7,203 | -25.6% |
| Accrued charges and deferred income | 492/3 | €203 | €0 | -€203 | -100.0% |
| Remuneration, social security and pensions | 62 | €24,423 | €11,914 | -€12,509 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,657 | €39,749 | +€8,092 | +25.6% |
| Other operating charges | 640/8 | €6,628 | €20,055 | +€13,427 | +202.6% |
| Gross operating margin | 9900 | €123,430 | €92,221 | -€31,209 | -25.3% |
| Operating profit (loss) | 9901 | €60,721 | €20,501 | -€40,220 | -66.2% |
| Financial income | 75/76B | €4,295 | €4,056 | -€239 | -5.6% |
| Recurring financial income | 75 | €4,295 | €4,056 | -€239 | -5.6% |
| Financial charges | 65/66B | €4,115 | €4,249 | +€134 | +3.3% |
| Recurring financial charges | 65 | €4,115 | €4,249 | +€134 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €60,901 | €20,309 | -€40,593 | -66.7% |
| Income taxes | 67/77 | €19,042 | €7,592 | -€11,450 | -60.1% |
| Profit (loss) for the period | 9904 | €41,859 | €12,717 | -€29,143 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,859 | €12,717 | -€29,143 | -69.6% |
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 11 October 2026 via checked.be.