KREEF: 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.
KREEF
Largest movements
- Tangible fixed assets -€27,215
down €27,215 (-3.6%), from €756,570 to €729,355
of which Land and buildings: -€25,201
- Debts after one year -€39,970
down €39,970 (-10.1%), from €397,218 to €357,248
- Reserves +€16,753
up €16,753 (+335.1%), from €5,000 to €21,753
- Gross operating margin +€14,844
up €14,844 (+22.4%), from €66,320 to €81,164
- Taxes +€6,587
up €6,587 (+512.4%), from €1,285 to €7,872
- Depreciation -€1,786
down €1,786 (-6.2%), from €29,001 to €27,215
- Other operating charges -€1,750
down €1,750 (-20.9%), from €8,386 to €6,636
- Financial charges -€1,539
down €1,539 (-6.4%), from €24,236 to €22,697
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 | €768,907 | €744,948 | -€23,959 | -3.1% |
| Fixed assets | 21/28 | €756,570 | €729,355 | -€27,215 | -3.6% |
| Tangible fixed assets | 22/27 | €756,570 | €729,355 | -€27,215 | -3.6% |
| Land and buildings | 22 | €749,651 | €724,451 | -€25,201 | -3.4% |
| Plant, machinery and equipment | 23 | €6,733 | €4,871 | -€1,862 | -27.7% |
| Furniture and vehicles | 24 | €186 | €33 | -€152 | -82.0% |
| Current assets | 29/58 | €12,338 | €15,593 | +€3,256 | +26.4% |
| Amounts receivable within one year | 40/41 | €9,923 | €9,716 | -€207 | -2.1% |
| Trade receivables | 40 | €6,395 | €6,338 | -€58 | -0.9% |
| Other amounts receivable | 41 | €3,528 | €3,378 | -€150 | -4.2% |
| Cash at bank and in hand | 54/58 | €2,415 | €2,695 | +€281 | +11.6% |
| Deferred charges and accrued income | 490/1 | - | €3,182 | +€3,182 | |
| Total equity and liabilities | 10/49 | €768,907 | €744,948 | -€23,959 | -3.1% |
| Equity | 10/15 | €187,390 | €204,143 | +€16,753 | +8.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €21,753 | +€16,753 | +335.1% |
| Distributable reserves | 133 | €5,000 | €21,753 | +€16,753 | +335.1% |
| Profit (loss) carried forward | 14 | €132,390 | €132,390 | = | 0.0% |
| Amounts payable | 17/49 | €581,517 | €540,805 | -€40,712 | -7.0% |
| Amounts payable after more than one year | 17 | €397,218 | €357,248 | -€39,970 | -10.1% |
| Financial debts | 170/4 | €397,218 | €357,248 | -€39,970 | -10.1% |
| Amounts payable within one year | 42/48 | €182,799 | €183,557 | +€758 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €38,497 | €42,902 | +€4,405 | +11.4% |
| Trade debts | 44 | €1,950 | €323 | -€1,627 | -83.4% |
| Suppliers | 440/4 | €1,950 | €323 | -€1,627 | -83.4% |
| Taxes, remuneration and social security | 45 | €3,621 | €4,922 | +€1,301 | +35.9% |
| Taxes | 450/3 | €3,621 | €4,922 | +€1,301 | +35.9% |
| Other amounts payable | 47/48 | €138,732 | €135,410 | -€3,321 | -2.4% |
| Accrued charges and deferred income | 492/3 | €1,500 | - | -€1,500 | |
| Non-recurring operating income | 76A | €616 | - | -€616 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,001 | €27,215 | -€1,786 | -6.2% |
| Other operating charges | 640/8 | €8,386 | €6,636 | -€1,750 | -20.9% |
| Gross operating margin | 9900 | €66,320 | €81,164 | +€14,844 | +22.4% |
| Operating profit (loss) | 9901 | €28,933 | €47,313 | +€18,381 | +63.5% |
| Financial income | 75/76B | €21 | €9 | -€12 | -57.9% |
| Recurring financial income | 75 | €21 | €9 | -€12 | -57.9% |
| Financial charges | 65/66B | €24,236 | €22,697 | -€1,539 | -6.4% |
| Recurring financial charges | 65 | €24,236 | €22,697 | -€1,539 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €4,717 | €24,625 | +€19,908 | +422.0% |
| Income taxes | 67/77 | €1,285 | €7,872 | +€6,587 | +512.4% |
| Profit (loss) for the period | 9904 | €3,432 | €16,753 | +€13,321 | +388.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,432 | €16,753 | +€13,321 | +388.2% |
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.