Dr. Creemers: 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.
Dr. Creemers
Largest movements
- Cash +€95,243
up €95,243 (+122%), from €78,229 to €173,472
mainly Net result for the year (+€91,016) and Current investments (+€49,877)
- Current investments -€49,877
down €49,877 (-22.6%), from €220,299 to €170,422
- Deferred charges and accrued income -€24,703
down €24,703 (-56.0%), from €44,091 to €19,388
- Tangible fixed assets -€24,329
down €24,329 (-15.0%), from €162,384 to €138,055
of which Furniture and vehicles: -€24,807
- Receivables within one year -€20,983
down €20,983 (-25.4%), from €82,553 to €61,569
- Reserves +€62,462
up €62,462 (+14.5%), from €429,833 to €492,295
of which Distributable reserves: +€62,462
- Current portion of long-term debt -€23,916
down €23,916 (-52.4%), from €45,601 to €21,685
- Debts after one year -€20,049
down €20,049 (-35.8%), from €56,040 to €35,991
- Accrued charges and deferred income -€17,300
down €17,300 (-98.1%), from €17,633 to €334
- Tax, wage and social debts -€8,291
down €8,291 (-43.2%), from €19,194 to €10,903
of which Taxes: -€7,716
- Gross operating margin +€61,127
up €61,127 (+61.6%), from €99,261 to €160,388
- Taxes +€17,948
up €17,948 (+93.0%), from €19,309 to €37,257
- Depreciation +€1,948
up €1,948 (+6.4%), from €30,244 to €32,192
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 | €589,101 | €576,952 | -€12,149 | -2.1% |
| Fixed assets | 21/28 | €163,929 | €139,600 | -€24,329 | -14.8% |
| Tangible fixed assets | 22/27 | €162,384 | €138,055 | -€24,329 | -15.0% |
| Land and buildings | 22 | €69,302 | €69,780 | +€478 | +0.7% |
| Furniture and vehicles | 24 | €93,082 | €68,275 | -€24,807 | -26.7% |
| Financial fixed assets | 28 | €1,545 | €1,545 | = | 0.0% |
| Current assets | 29/58 | €425,171 | €437,351 | +€12,180 | +2.9% |
| Amounts receivable after more than one year | 29 | - | €12,500 | +€12,500 | |
| Other amounts receivable | 291 | - | €12,500 | +€12,500 | |
| Amounts receivable within one year | 40/41 | €82,553 | €61,569 | -€20,983 | -25.4% |
| Other amounts receivable | 41 | €82,553 | €61,569 | -€20,983 | -25.4% |
| Current investments | 50/53 | €220,299 | €170,422 | -€49,877 | -22.6% |
| Cash at bank and in hand | 54/58 | €78,229 | €173,472 | +€95,243 | +122% |
| Deferred charges and accrued income | 490/1 | €44,091 | €19,388 | -€24,703 | -56.0% |
| Total equity and liabilities | 10/49 | €589,101 | €576,952 | -€12,149 | -2.1% |
| Equity | 10/15 | €442,233 | €504,695 | +€62,462 | +14.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €429,833 | €492,295 | +€62,462 | +14.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €427,973 | €490,435 | +€62,462 | +14.6% |
| Amounts payable | 17/49 | €146,868 | €72,256 | -€74,612 | -50.8% |
| Amounts payable after more than one year | 17 | €56,040 | €35,991 | -€20,049 | -35.8% |
| Financial debts | 170/4 | €56,040 | €35,991 | -€20,049 | -35.8% |
| Amounts payable within one year | 42/48 | €73,195 | €35,932 | -€37,263 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €45,601 | €21,685 | -€23,916 | -52.4% |
| Trade debts | 44 | €8,400 | €3,344 | -€5,056 | -60.2% |
| Suppliers | 440/4 | €8,400 | €3,344 | -€5,056 | -60.2% |
| Taxes, remuneration and social security | 45 | €19,194 | €10,903 | -€8,291 | -43.2% |
| Taxes | 450/3 | €18,619 | €10,903 | -€7,716 | -41.4% |
| Remuneration and social security | 454/9 | €575 | - | -€575 | |
| Accrued charges and deferred income | 492/3 | €17,633 | €334 | -€17,300 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,244 | €32,192 | +€1,948 | +6.4% |
| Other operating charges | 640/8 | €2,937 | €2,677 | -€260 | -8.8% |
| Gross operating margin | 9900 | €99,261 | €160,388 | +€61,127 | +61.6% |
| Operating profit (loss) | 9901 | €66,080 | €125,519 | +€59,439 | +89.9% |
| Financial income | 75/76B | €8,148 | €7,678 | -€471 | -5.8% |
| Recurring financial income | 75 | €8,148 | €7,678 | -€471 | -5.8% |
| Financial charges | 65/66B | €6,013 | €4,924 | -€1,089 | -18.1% |
| Recurring financial charges | 65 | €6,013 | €4,924 | -€1,089 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €68,216 | €128,273 | +€60,057 | +88.0% |
| Income taxes | 67/77 | €19,309 | €37,257 | +€17,948 | +93.0% |
| Profit (loss) for the period | 9904 | €48,907 | €91,016 | +€42,109 | +86.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,907 | €91,016 | +€42,109 | +86.1% |
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 20 October 2026 via checked.be.