KREA: what changed
Two fiscal 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.
KREA
Largest movements
- Stocks and contracts -€289,095
down €289,095 (-89.9%), from €321,456 to €32,361
- Receivables within one year +€16,519
up €16,519 (+157.0%), from €10,524 to €27,043
of which Trade receivables: +€19,802
- Cash +€10,956
up €10,956 (+148.6%), from €7,373 to €18,329
mainly Stocks and contracts (+€289,095) and Net result for the year (+€27,176)
- Tangible fixed assets -€4,968
down €4,968 (-34.8%), from €14,281 to €9,313
of which Furniture and vehicles: -€4,628
- Current portion of long-term debt -€240,134
no longer reported in 2025 (was €240,134)
- Other debts -€53,130
down €53,130 (-60.4%), from €88,030 to €34,901
- Profit (loss) carried forward +€27,176
up €27,176, from -€23,937 to €3,239
- Gross operating margin +€60,934
up €60,934 (+2446.9%), from €2,490 to €63,424
- Financial charges -€16,440
down €16,440 (-75.4%), from €21,795 to €5,355
- Other operating charges +€2,127
up €2,127 (+160.6%), from €1,324 to €3,450
- Taxes +€1,902
up €1,902 (+991.8%), from €192 to €2,094
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 | €354,724 | €90,477 | -€264,248 | -74.5% |
| Fixed assets | 21/28 | €14,281 | €9,313 | -€4,968 | -34.8% |
| Tangible fixed assets | 22/27 | €14,281 | €9,313 | -€4,968 | -34.8% |
| Plant, machinery and equipment | 23 | €1,165 | €824 | -€341 | -29.2% |
| Furniture and vehicles | 24 | €13,116 | €8,488 | -€4,628 | -35.3% |
| Current assets | 29/58 | €340,443 | €81,164 | -€259,279 | -76.2% |
| Stocks and contracts in progress | 3 | €321,456 | €32,361 | -€289,095 | -89.9% |
| Stocks | 30/36 | €321,456 | €32,361 | -€289,095 | -89.9% |
| Amounts receivable within one year | 40/41 | €10,524 | €27,043 | +€16,519 | +157.0% |
| Trade receivables | 40 | €4,337 | €24,140 | +€19,802 | +456.6% |
| Other amounts receivable | 41 | €6,187 | €2,903 | -€3,283 | -53.1% |
| Cash at bank and in hand | 54/58 | €7,373 | €18,329 | +€10,956 | +148.6% |
| Deferred charges and accrued income | 490/1 | €1,090 | €3,431 | +€2,341 | +214.7% |
| Total equity and liabilities | 10/49 | €354,724 | €90,477 | -€264,248 | -74.5% |
| Equity | 10/15 | €14,939 | €42,115 | +€27,176 | +181.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €20,284 | €20,284 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €18,425 | €18,425 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,937 | €3,239 | +€27,176 | |
| Amounts payable | 17/49 | €339,786 | €48,362 | -€291,424 | -85.8% |
| Amounts payable within one year | 42/48 | €339,786 | €48,362 | -€291,424 | -85.8% |
| Current portion of amounts payable after more than one year | 42 | €240,134 | - | -€240,134 | |
| Trade debts | 44 | €5,731 | €7,418 | +€1,688 | +29.4% |
| Suppliers | 440/4 | €5,731 | €7,418 | +€1,688 | +29.4% |
| Taxes, remuneration and social security | 45 | €5,891 | €6,043 | +€152 | +2.6% |
| Taxes | 450/3 | €2,791 | €4,268 | +€1,477 | +52.9% |
| Remuneration and social security | 454/9 | €3,100 | €1,775 | -€1,325 | -42.7% |
| Other amounts payable | 47/48 | €88,030 | €34,901 | -€53,130 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,972 | €4,968 | -€3 | -0.1% |
| Other operating charges | 640/8 | €1,324 | €3,450 | +€2,127 | +160.6% |
| Non-recurring operating charges | 66A | - | €21,000 | +€21,000 | |
| Gross operating margin | 9900 | €2,490 | €63,424 | +€60,934 | +2446.9% |
| Operating profit (loss) | 9901 | -€3,805 | €34,005 | +€37,810 | |
| Financial income | 75/76B | €526 | €620 | +€94 | +18.0% |
| Recurring financial income | 75 | €526 | €620 | +€94 | +18.0% |
| Financial charges | 65/66B | €21,795 | €5,355 | -€16,440 | -75.4% |
| Recurring financial charges | 65 | €21,795 | €5,355 | -€16,440 | -75.4% |
| Profit (loss) for the period before taxes | 9903 | -€25,075 | €29,270 | +€54,345 | |
| Income taxes | 67/77 | €192 | €2,094 | +€1,902 | +991.8% |
| Profit (loss) for the period | 9904 | -€25,267 | €27,176 | +€52,443 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,267 | €27,176 | +€52,443 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.