KREDO-ASSUR: 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.
KREDO-ASSUR
Largest movements
- Cash +€61,324
up €61,324 (+16,225%), from €378 to €61,701
mainly Net result for the year (+€73,550) and Depreciation (+€16,220)
- Intangible fixed assets -€9,300
down €9,300 (-27.5%), from €33,806 to €24,506
- Reserves +€73,550
up €73,550 (+59.7%), from €123,110 to €196,661
- Tax, wage and social debts -€18,517
down €18,517 (-47.3%), from €39,116 to €20,599
of which Taxes: -€18,616
- Gross operating margin +€10,019
up €10,019 (+7.1%), from €142,063 to €152,082
- Taxes +€2,316
up €2,316 (+7.8%), from €29,550 to €31,866
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 | €204,400 | €258,629 | +€54,229 | +26.5% |
| Fixed assets | 21/28 | €89,950 | €79,800 | -€10,151 | -11.3% |
| Intangible fixed assets | 21 | €33,806 | €24,506 | -€9,300 | -27.5% |
| Tangible fixed assets | 22/27 | €56,144 | €55,293 | -€851 | -1.5% |
| Land and buildings | 22 | €55,348 | €49,400 | -€5,949 | -10.7% |
| Furniture and vehicles | 24 | €796 | €5,894 | +€5,098 | +641% |
| Current assets | 29/58 | €114,450 | €178,830 | +€64,380 | +56.3% |
| Amounts receivable within one year | 40/41 | €95,667 | €97,428 | +€1,761 | +1.8% |
| Other amounts receivable | 41 | €95,667 | €97,428 | +€1,761 | +1.8% |
| Cash at bank and in hand | 54/58 | €378 | €61,701 | +€61,324 | +16,225% |
| Deferred charges and accrued income | 490/1 | €18,404 | €19,700 | +€1,296 | +7.0% |
| Total equity and liabilities | 10/49 | €204,400 | €258,629 | +€54,229 | +26.5% |
| Equity | 10/15 | €157,333 | €230,884 | +€73,550 | +46.7% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €123,110 | €196,661 | +€73,550 | +59.7% |
| Distributable reserves | 133 | €123,110 | €196,661 | +€73,550 | +59.7% |
| Profit (loss) carried forward | 14 | €13,818 | €13,818 | = | 0.0% |
| Amounts payable | 17/49 | €47,066 | €27,745 | -€19,321 | -41.1% |
| Amounts payable within one year | 42/48 | €47,066 | €27,745 | -€19,321 | -41.1% |
| Trade debts | 44 | €4,327 | €5,019 | +€692 | +16.0% |
| Suppliers | 440/4 | €4,327 | €5,019 | +€692 | +16.0% |
| Taxes, remuneration and social security | 45 | €39,116 | €20,599 | -€18,517 | -47.3% |
| Taxes | 450/3 | €31,838 | €13,221 | -€18,616 | -58.5% |
| Remuneration and social security | 454/9 | €7,278 | €7,378 | +€99 | +1.4% |
| Other amounts payable | 47/48 | €3,623 | €2,128 | -€1,495 | -41.3% |
| Remuneration, social security and pensions | 62 | €31,013 | €32,101 | +€1,087 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,847 | €16,220 | -€627 | -3.7% |
| Other operating charges | 640/8 | €146 | €150 | +€4 | +2.6% |
| Gross operating margin | 9900 | €142,063 | €152,082 | +€10,019 | +7.1% |
| Operating profit (loss) | 9901 | €94,056 | €103,611 | +€9,555 | +10.2% |
| Financial income | 75/76B | €1,761 | €2,240 | +€479 | +27.2% |
| Recurring financial income | 75 | €1,761 | €2,240 | +€479 | +27.2% |
| Financial charges | 65/66B | €261 | €434 | +€173 | +66.2% |
| Recurring financial charges | 65 | €261 | €434 | +€173 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | €95,556 | €105,417 | +€9,861 | +10.3% |
| Income taxes | 67/77 | €29,550 | €31,866 | +€2,316 | +7.8% |
| Profit (loss) for the period | 9904 | €66,006 | €73,550 | +€7,545 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,006 | €73,550 | +€7,545 | +11.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.