KREAZ: 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.
KREAZ
Largest movements
- Receivables within one year +€72,847
up €72,847 (+29.6%), from €245,938 to €318,785
of which Trade receivables: +€111,887
- Stocks and contracts +€52,265
up €52,265 (+147%), from €35,675 to €87,940
- Trade debts +€104,321
up €104,321 (+52.4%), from €198,968 to €303,289
- Tax, wage and social debts +€9,770
up €9,770 (+39.1%), from €25,010 to €34,780
- Current portion of long-term debt +€8,550
up €8,550 (+38.0%), from €22,518 to €31,068
- Gross operating margin +€43,196
up €43,196 (+94.2%), from €45,845 to €89,041
- Taxes +€10,316
up €10,316 (+109%), from €9,508 to €19,824
- Financial income -€6,448
down €6,448 (-67.3%), from €9,585 to €3,137
- Financial charges -€1,942
down €1,942 (-27.6%), from €7,022 to €5,081
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 | €547,051 | €673,908 | +€126,857 | +23.2% |
| Fixed assets | 21/28 | €170,073 | €172,276 | +€2,202 | +1.3% |
| Tangible fixed assets | 22/27 | €155,648 | €157,851 | +€2,202 | +1.4% |
| Plant, machinery and equipment | 23 | €1,145 | €755 | -€389 | -34.0% |
| Furniture and vehicles | 24 | €27,404 | €34,646 | +€7,242 | +26.4% |
| Other tangible fixed assets | 26 | €127,100 | €122,450 | -€4,650 | -3.7% |
| Financial fixed assets | 28 | €14,425 | €14,425 | = | 0.0% |
| Current assets | 29/58 | €376,978 | €501,632 | +€124,654 | +33.1% |
| Stocks and contracts in progress | 3 | €35,675 | €87,940 | +€52,265 | +147% |
| Stocks | 30/36 | €35,675 | €87,940 | +€52,265 | +147% |
| Amounts receivable within one year | 40/41 | €245,938 | €318,785 | +€72,847 | +29.6% |
| Trade receivables | 40 | €196,463 | €308,350 | +€111,887 | +57.0% |
| Other amounts receivable | 41 | €49,475 | €10,435 | -€39,040 | -78.9% |
| Cash at bank and in hand | 54/58 | €95,364 | €93,966 | -€1,398 | -1.5% |
| Deferred charges and accrued income | 490/1 | - | €940 | +€940 | |
| Total equity and liabilities | 10/49 | €547,051 | €673,908 | +€126,857 | +23.2% |
| Equity | 10/15 | €163,619 | €163,933 | +€313 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €144,050 | €144,350 | +€300 | +0.2% |
| Distributable reserves | 133 | €144,050 | €144,350 | +€300 | +0.2% |
| Profit (loss) carried forward | 14 | €969 | €983 | +€13 | +1.4% |
| Amounts payable | 17/49 | €383,432 | €509,975 | +€126,544 | +33.0% |
| Amounts payable after more than one year | 17 | €86,936 | €84,245 | -€2,691 | -3.1% |
| Financial debts | 170/4 | €86,936 | €84,245 | -€2,691 | -3.1% |
| Amounts payable within one year | 42/48 | €296,496 | €425,730 | +€129,235 | +43.6% |
| Current portion of amounts payable after more than one year | 42 | €22,518 | €31,068 | +€8,550 | +38.0% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €198,968 | €303,289 | +€104,321 | +52.4% |
| Suppliers | 440/4 | €198,968 | €303,289 | +€104,321 | +52.4% |
| Taxes, remuneration and social security | 45 | €25,010 | €34,780 | +€9,770 | +39.1% |
| Taxes | 450/3 | €25,010 | €34,780 | +€9,770 | +39.1% |
| Other amounts payable | 47/48 | - | €6,593 | +€6,593 | |
| Non-recurring operating income | 76A | - | €1,074 | +€1,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,859 | €11,862 | +€3 | 0.0% |
| Other operating charges | 640/8 | €1,940 | €1,598 | -€342 | -17.6% |
| Gross operating margin | 9900 | €45,845 | €89,041 | +€43,196 | +94.2% |
| Operating profit (loss) | 9901 | €32,045 | €75,581 | +€43,536 | +136% |
| Financial income | 75/76B | €9,585 | €3,137 | -€6,448 | -67.3% |
| Recurring financial income | 75 | €9,585 | €3,137 | -€6,448 | -67.3% |
| Financial charges | 65/66B | €7,022 | €5,081 | -€1,942 | -27.6% |
| Recurring financial charges | 65 | €7,022 | €5,081 | -€1,942 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €34,608 | €73,637 | +€39,029 | +113% |
| Income taxes | 67/77 | €9,508 | €19,824 | +€10,316 | +109% |
| Profit (loss) for the period | 9904 | €25,100 | €53,813 | +€28,713 | +114% |
| Profit (loss) for the period to be appropriated | 9905 | €25,100 | €53,813 | +€28,713 | +114% |
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 28 October 2026 via checked.be.