CREZ: 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.
CREZ
Largest movements
- Cash +€5,683
up €5,683 (+72.0%), from €7,891 to €13,575
mainly Net result for the year (+€21,484) and Tax, wage and social debts (+€7,319)
- Receivables within one year -€3,695
down €3,695 (-6.1%), from €61,032 to €57,337
of which Other amounts receivable: -€13,966
- Tangible fixed assets -€2,682
down €2,682 (-67.8%), from €3,957 to €1,275
of which Plant, machinery and equipment: -€1,529
- Deferred charges and accrued income +€1,195
new in 2025: €1,195
- Profit (loss) carried forward -€13,810
down €13,810 (-26.5%), from €52,031 to €38,221
- Tax, wage and social debts +€7,319
up €7,319 (+47.2%), from €15,522 to €22,841
- Trade debts +€6,992
up €6,992 (+620.6%), from €1,127 to €8,119
- Financial charges +€4,758
up €4,758 (+1100.9%), from €432 to €5,190
- Gross operating margin -€4,271
down €4,271 (-10.3%), from €41,542 to €37,271
- Staff costs -€2,340
no longer reported in 2025 (was €2,340)
- Taxes -€1,275
down €1,275 (-16.0%), from €7,988 to €6,712
- Other operating charges +€1,003
up €1,003 (+409.0%), from €245 to €1,248
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 | €73,680 | €74,181 | +€501 | +0.7% |
| Fixed assets | 21/28 | €4,757 | €2,075 | -€2,682 | -56.4% |
| Tangible fixed assets | 22/27 | €3,957 | €1,275 | -€2,682 | -67.8% |
| Plant, machinery and equipment | 23 | €2,440 | €911 | -€1,529 | -62.7% |
| Furniture and vehicles | 24 | €1,517 | €364 | -€1,153 | -76.0% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €68,923 | €72,106 | +€3,183 | +4.6% |
| Amounts receivable within one year | 40/41 | €61,032 | €57,337 | -€3,695 | -6.1% |
| Trade receivables | 40 | €1,769 | €12,040 | +€10,271 | +580.8% |
| Other amounts receivable | 41 | €59,263 | €45,297 | -€13,966 | -23.6% |
| Cash at bank and in hand | 54/58 | €7,891 | €13,575 | +€5,683 | +72.0% |
| Deferred charges and accrued income | 490/1 | - | €1,195 | +€1,195 | |
| Total equity and liabilities | 10/49 | €73,680 | €74,181 | +€501 | +0.7% |
| Equity | 10/15 | €57,031 | €43,221 | -€13,810 | -24.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,031 | €38,221 | -€13,810 | -26.5% |
| Amounts payable | 17/49 | €16,649 | €30,960 | +€14,311 | +86.0% |
| Amounts payable within one year | 42/48 | €16,649 | €30,960 | +€14,311 | +86.0% |
| Trade debts | 44 | €1,127 | €8,119 | +€6,992 | +620.6% |
| Suppliers | 440/4 | €1,127 | €8,119 | +€6,992 | +620.6% |
| Taxes, remuneration and social security | 45 | €15,522 | €22,841 | +€7,319 | +47.2% |
| Taxes | 450/3 | €15,522 | €22,841 | +€7,319 | +47.2% |
| Remuneration, social security and pensions | 62 | €2,340 | - | -€2,340 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,304 | €2,682 | +€378 | +16.4% |
| Other operating charges | 640/8 | €245 | €1,248 | +€1,003 | +409.0% |
| Gross operating margin | 9900 | €41,542 | €37,271 | -€4,271 | -10.3% |
| Operating profit (loss) | 9901 | €36,653 | €33,341 | -€3,312 | -9.0% |
| Financial income | 75/76B | - | €45 | +€45 | |
| Recurring financial income | 75 | - | €45 | +€45 | |
| Financial charges | 65/66B | €432 | €5,190 | +€4,758 | +1100.9% |
| Recurring financial charges | 65 | €432 | €5,190 | +€4,758 | +1100.9% |
| Profit (loss) for the period before taxes | 9903 | €36,221 | €28,196 | -€8,025 | -22.2% |
| Income taxes | 67/77 | €7,988 | €6,712 | -€1,275 | -16.0% |
| Profit (loss) for the period | 9904 | €28,233 | €21,484 | -€6,750 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,233 | €21,484 | -€6,750 | -23.9% |
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 12 October 2026 via checked.be.