Lieve CRETEN: 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.
Lieve CRETEN
Largest movements
- Receivables within one year -€427,712
down €427,712 (-94.4%), from €453,276 to €25,564
of which Other amounts receivable: -€423,877
- Current investments -€255,617
down €255,617 (-5.8%), from €4.4m to €4.2m
- Accrued charges and deferred income -€979,172
down €979,172 (-49.7%), from €2.0m to €991,048
- Reserves +€846,704
up €846,704 (+16.4%), from €5.2m to €6.0m
of which Distributable reserves: +€849,704
- Other debts -€478,154
no longer reported in 2025 (was €478,154)
- Tax, wage and social debts -€153,746
down €153,746 (-78.7%), from €195,375 to €41,629
- Financial income +€155,334
up €155,334 (+147%), from €105,773 to €261,107
of which Financial income: +€159,863
- Gross operating margin -€30,463
down €30,463 (-2.7%), from €1.1m to €1.1m
- Depreciation +€12,742
up €12,742 (+8.2%), from €154,902 to €167,644
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 | €8,345,513 | €7,582,323 | -€763,190 | -9.1% |
| Fixed assets | 21/28 | €3,413,079 | €3,370,611 | -€42,468 | -1.2% |
| Tangible fixed assets | 22/27 | €3,413,079 | €3,370,611 | -€42,468 | -1.2% |
| Land and buildings | 22 | €3,314,524 | €3,199,475 | -€115,049 | -3.5% |
| Plant, machinery and equipment | 23 | €83,489 | €55,107 | -€28,382 | -34.0% |
| Furniture and vehicles | 24 | €6,316 | €107,280 | +€100,964 | +1,599% |
| Other tangible fixed assets | 26 | €8,750 | €8,750 | = | 0.0% |
| Current assets | 29/58 | €4,932,434 | €4,211,712 | -€720,722 | -14.6% |
| Amounts receivable within one year | 40/41 | €453,276 | €25,564 | -€427,712 | -94.4% |
| Trade receivables | 40 | €9,532 | €5,697 | -€3,835 | -40.2% |
| Other amounts receivable | 41 | €443,744 | €19,867 | -€423,877 | -95.5% |
| Current investments | 50/53 | €4,432,710 | €4,177,094 | -€255,617 | -5.8% |
| Cash at bank and in hand | 54/58 | €46,447 | €8,959 | -€37,488 | -80.7% |
| Deferred charges and accrued income | 490/1 | - | €95 | +€95 | |
| Total equity and liabilities | 10/49 | €8,345,513 | €7,582,323 | -€763,190 | -9.1% |
| Equity | 10/15 | €5,693,565 | €6,540,269 | +€846,704 | +14.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €5,151,551 | €5,998,255 | +€846,704 | +16.4% |
| Non-distributable reserves | 130/1 | €3,000 | - | -€3,000 | |
| Reserves not available under the articles | 1311 | €3,000 | - | -€3,000 | |
| Distributable reserves | 133 | €5,148,551 | €5,998,255 | +€849,704 | +16.5% |
| Profit (loss) carried forward | 14 | €512,014 | €512,014 | = | 0.0% |
| Amounts payable | 17/49 | €2,651,948 | €1,042,054 | -€1.6m | -60.7% |
| Amounts payable within one year | 42/48 | €681,729 | €51,006 | -€630,723 | -92.5% |
| Trade debts | 44 | €8,201 | €9,377 | +€1,177 | +14.3% |
| Suppliers | 440/4 | €8,201 | €9,377 | +€1,177 | +14.3% |
| Taxes, remuneration and social security | 45 | €195,375 | €41,629 | -€153,746 | -78.7% |
| Taxes | 450/3 | €195,375 | €41,629 | -€153,746 | -78.7% |
| Other amounts payable | 47/48 | €478,154 | - | -€478,154 | |
| Accrued charges and deferred income | 492/3 | €1,970,219 | €991,048 | -€979,172 | -49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,902 | €167,644 | +€12,742 | +8.2% |
| Other operating charges | 640/8 | €14,066 | €14,092 | +€26 | +0.2% |
| Gross operating margin | 9900 | €1,133,372 | €1,102,910 | -€30,463 | -2.7% |
| Operating profit (loss) | 9901 | €964,404 | €921,174 | -€43,231 | -4.5% |
| Financial income | 75/76B | €105,773 | €261,107 | +€155,334 | +147% |
| Recurring financial income | 75 | €101,244 | €261,107 | +€159,863 | +158% |
| Non-recurring financial income | 76B | €4,529 | - | -€4,529 | |
| Financial charges | 65/66B | €218 | €333 | +€115 | +52.6% |
| Recurring financial charges | 65 | €218 | €333 | +€115 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €1,069,959 | €1,181,947 | +€111,988 | +10.5% |
| Income taxes | 67/77 | €328,945 | €335,243 | +€6,298 | +1.9% |
| Profit (loss) for the period | 9904 | €741,014 | €846,704 | +€105,690 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €741,014 | €846,704 | +€105,690 | +14.3% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.