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Creative Realities Balance Sheet 2025-2008 | CREX
Brief overview of Creative Realities's assets and capital
The review uses the five latest available annual reports between 2021 and 2025.
Assets rose from $22.9 million to $151 million, a gain of +560.1%, while CAGR was about 60.3%. The balance sheet expanded rapidly.
Liabilities grew faster than assets: +619.7% versus +560.1%. A substantial part of expansion was externally funded.
The equity ratio is 14.2%, compared with 38.1% before. Low autonomy increases reliance on liabilities.
Net debt stands at $38.6 million, or 1.79x of equity. The debt cushion is limited.
The cash reserve occupies 1% of the balance sheet, previously 12.6%. It is one marker of short-term resilience.
The balance sheet includes a negative accumulated result of -$65.1 million. It should be assessed alongside historical profits and capital distributions.
Conclusion
Creative Realities has limited balance sheet resilience and depends heavily on cash generation and refinancing capacity.
Annual Balance Sheet Creative Realities
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
38.6 M | 12.5 M | 7.42 M | 12.2 M | -2.6 M | 8.07 M | 4.86 M | 2.82 M | 4.46 M | 6.28 M | 1.07 M | -573 K | -609 K | -1.85 M | -5.44 M | - | - | - |
Long Term Debt |
39.5 M | 13 M | 9.83 M | 13.1 M | 6.88 K | 8.26 M | 3.76 M | 5.54 M | 5.46 M | - | 2.28 M | - | 875 K | - | - | - | - | - |
Long Term Debt Current |
596 K | 466 K | 505 K | 711 K | 281 K | 355 K | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | 8.95 M | 5.04 M | 5.9 M | 9.02 M | 8.07 M | 8.15 M | 3.99 M | 875 K | - | - | - | - | - |
Total Current Liabilities |
39.3 M | 26.2 M | 20.2 M | 16.5 M | 6.86 M | 7.33 M | 10.4 M | 15 M | 12.7 M | 14.4 M | 7.28 M | 6.63 M | 1.47 M | 2.11 M | 2.17 M | 2.66 M | - | - |
Total Liabilities |
102 M | 39.8 M | 41.9 M | 40.4 M | 14.2 M | 16.3 M | 15.5 M | 20.9 M | 21.7 M | 22.4 M | 15.4 M | 10.6 M | 2.35 M | 2.11 M | 2.17 M | 2.7 M | - | - |
Deferred Revenue |
8.12 M | 1.14 M | 1.13 M | 1.22 M | 426 K | 1.53 M | 1.53 M | 9.14 M | 7.97 M | 1.36 M | 1.21 M | 1.98 M | 754 K | 596 K | 687 K | 488 K | - | - |
Retained Earnings |
-65.1 M | -56.9 M | -53.3 M | -50.4 M | -52.3 M | -52.5 M | -35.6 M | -36.9 M | -26.2 M | -20.5 M | -14.6 M | -6.65 M | -98 M | -94.4 M | -89 M | -82.3 M | - | - |
Total Assets |
151 M | 65.2 M | 70.8 M | 66 M | 22.9 M | 20.6 M | 34 M | 37.7 M | 26 M | 24.4 M | 23 M | 21.9 M | 3.06 M | 4.36 M | 7.93 M | 11.2 M | - | - |
Cash and Cash Equivalents |
1.56 M | 1.04 M | 2.91 M | 1.63 M | 2.88 M | 1.83 M | 2.53 M | 2.72 M | 1 M | 1.35 M | 1.36 M | 573 K | 108 K | 2.25 M | 5.48 M | 7.06 M | 12.3 M | 5.29 M |
Book Value |
49.2 M | 25.5 M | 28.8 M | 25.6 M | 8.73 M | 4.34 M | 18.5 M | 16.8 M | 4.35 M | 1.98 M | 7.6 M | 11.3 M | 708 K | 2.26 M | 5.76 M | 8.54 M | - | - |
Total Shareholders Equity |
21.5 M | 25.5 M | 28.8 M | 25.6 M | 8.73 M | 4.34 M | 18.5 M | 16.8 M | 4.35 M | 4.48 M | 7.6 M | 11.3 M | 708 K | 2.26 M | 5.76 M | 8.54 M | 13.8 M | 16.2 M |
All numbers in USD currency
Quarterly Balance Sheet Creative Realities
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
43 M | 21.2 M | 19.3 M | 22.6 M | 12.8 M | 10.7 M | 13.6 M | - | 9.83 M | 10.6 M | 11.6 M | 12.4 M | 13.1 M | - | 13.4 M | 13 M | 6.88 M | 5.64 M | 6.66 M | 6.48 M | 8.26 M | 8.26 M | 8.26 M | 8.26 M | 3.76 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 198 K | 986 K | 381 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 875 K | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
97.1 M | 39.4 M | 34.2 M | 37.1 M | 39.8 M | 39.3 M | 41.3 M | - | 41.9 M | 42.3 M | 40.1 M | 40 M | 40.4 M | 38.3 M | 42.1 M | 43.8 M | 14.2 M | 12 M | 11.9 M | 15.1 M | 16.3 M | 16.3 M | 16.3 M | 16.3 M | 15.6 M | 15.5 M | 15.5 M | 15.5 M | 20.9 M | 20.9 M | 20.9 M | 20.9 M | 19.8 M | 19.8 M | 19.8 M | 19.8 M | 16 M | 16 M | 16 M | 18.5 M | 11.7 M | 11.7 M | 11.7 M | 11.7 M | 9.09 M | 9.09 M | 9.09 M | 9.09 M | 4.64 M | 4.64 M | 2.35 M | 2.35 M | 2.11 M | - | - | - | 2.17 M | 2.89 M | 3.16 M | - |
Deferred Revenue |
8.7 M | 2.47 M | 1.86 M | 3.48 M | 1.14 M | 2.77 M | 2.95 M | - | 1.13 M | 3.51 M | 2.83 M | 3.6 M | 1.22 M | 2.7 M | 2.86 M | 3.59 M | 426 K | 770 K | 1.01 M | 1.42 M | 764 K | 764 K | 764 K | 764 K | 772 K | 772 K | 772 K | 772 K | 6.45 M | 6.45 M | 6.45 M | 6.45 M | 6.72 M | 6.72 M | 6.72 M | 6.72 M | 753 K | 753 K | 753 K | 753 K | 1.21 M | 1.21 M | 1.21 M | 1.21 M | 1.98 M | 1.98 M | 1.98 M | 1.98 M | 1.81 M | 1.81 M | 754 K | 754 K | 596 K | 596 K | 596 K | 596 K | 687 K | 687 K | 687 K | 687 K |
Retained Earnings |
-72.6 M | -63.2 M | -55.3 M | -53.5 M | -56.9 M | -54 M | -54.1 M | - | -53.3 M | -54.8 M | -52.8 M | -51.4 M | -50.4 M | -49.1 M | -48.5 M | -49.8 M | -52.3 M | -50.5 M | -50.2 M | -51.2 M | -52.5 M | -52.5 M | -52.5 M | -52.5 M | -35.6 M | -35.6 M | -35.6 M | -35.6 M | -36.9 M | -36.9 M | -36.9 M | -36.9 M | -26.2 M | -26.2 M | -26.2 M | -26.2 M | -19.3 M | -19.3 M | -19.3 M | -20.5 M | -14.6 M | -14.6 M | -14.6 M | -14.6 M | -6.65 M | -6.65 M | -6.65 M | -6.65 M | -2.85 M | -97.1 M | -98 M | -98 M | -94.4 M | -94.4 M | -94.4 M | -94.4 M | -89 M | -89 M | -89 M | -89 M |
Total Assets |
138 M | 61.3 M | 63.7 M | 67 M | 65.2 M | 67.6 M | 69.6 M | - | 70.8 M | 69.7 M | 63.9 M | 65.1 M | 66 M | 64.7 M | 68.5 M | 62.9 M | 22.9 M | 21.8 M | 21.6 M | 23.4 M | 20.6 M | 20.6 M | 20.6 M | 20.6 M | 34 M | 34 M | 34 M | 34 M | 37.7 M | 37.7 M | 37.7 M | 37.7 M | 26 M | 26 M | 26 M | 26 M | 24.4 M | 24.4 M | 24.4 M | 24.4 M | 23 M | 23 M | 23 M | 23 M | 21.9 M | 21.9 M | 21.9 M | 21.9 M | 5.12 M | 5.12 M | 3.06 M | 3.06 M | 4.36 M | 4.36 M | 4.36 M | 4.36 M | 7.93 M | 7.93 M | 7.93 M | 7.93 M |
Cash and Cash Equivalents |
1.83 M | 314 K | 569 K | 1.15 M | 1.04 M | 868 K | 4.09 M | - | 2.91 M | 8.38 M | 3.26 M | 3.9 M | 1.63 M | 819 K | 2.84 M | 5.99 M | 2.88 M | 2.77 M | 3 M | 3.54 M | 1.83 M | 1.83 M | 1.83 M | 1.83 M | 2.53 M | 2.53 M | 2.53 M | 2.53 M | 2.72 M | 2.72 M | 2.72 M | 2.72 M | 1 M | 1 M | 1 M | 1 M | 1.35 M | 1.35 M | 1.35 M | 1.35 M | 1.36 M | 1.36 M | 1.36 M | 1.36 M | 573 K | 573 K | 573 K | 573 K | 108 K | 108 K | 1.48 M | 1.48 M | 16 K | 2.25 M | 2.25 M | 2.25 M | 5.48 M | 5.48 M | 5.48 M | 5.48 M |
Book Value |
41.1 M | 21.9 M | 29.4 M | 29.9 M | 25.5 M | 28.3 M | 28.2 M | - | 28.8 M | 27.4 M | 23.9 M | 25.1 M | 25.6 M | 26.4 M | 26.4 M | 19.1 M | 8.73 M | 9.76 M | 9.71 M | 8.28 M | 4.34 M | 4.34 M | 4.34 M | 4.34 M | 18.3 M | 18.5 M | 18.5 M | 18.5 M | 16.8 M | 16.8 M | 16.8 M | 16.8 M | 6.28 M | 6.28 M | 6.28 M | 6.28 M | 8.4 M | 8.4 M | 8.4 M | 5.9 M | 11.4 M | 11.4 M | 11.4 M | 11.4 M | 12.8 M | 12.8 M | 12.8 M | 12.8 M | 473 K | 473 K | 708 K | 708 K | 2.26 M | 4.36 M | 4.36 M | 4.36 M | 5.76 M | 5.04 M | 4.76 M | 7.93 M |
Total Shareholders Equity |
13.1 M | 21.9 M | 29.4 M | 29.9 M | 25.5 M | 28.3 M | 28.2 M | 28.8 M | 28.8 M | 27.4 M | 23.9 M | 25.1 M | 25.6 M | 26.4 M | 26.4 M | 19.1 M | 8.73 M | 9.76 M | 9.71 M | 8.28 M | 4.34 M | 4.34 M | 4.34 M | 4.34 M | 18.5 M | 18.5 M | 18.5 M | 18.5 M | 16.8 M | 16.8 M | 16.8 M | 16.8 M | 4.35 M | 4.35 M | 4.35 M | 4.35 M | 4.48 M | 4.48 M | 4.48 M | 1.98 M | 8.59 M | 7.6 M | 7.6 M | 7.6 M | 11.3 M | 11.3 M | 11.3 M | 11.3 M | 473 K | 473 K | 708 K | 708 K | 2.26 M | 2.26 M | 2.26 M | 2.26 M | 5.76 M | 5.76 M | 5.76 M | 5.76 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Creative Realities, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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