De Reddende Engel: 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.
De Reddende Engel
Largest movements
- Cash +€52,558
up €52,558 (+22.1%), from €237,530 to €290,087
mainly Net result for the year (+€66,245) and Depreciation (+€1,523)
- Reserves +€66,245
up €66,245 (+30.8%), from €214,785 to €281,030
of which Distributable reserves: +€66,245
- Tax, wage and social debts -€8,536
down €8,536 (-31.6%), from €26,985 to €18,450
of which Remuneration and social security: -€6,940
- Gross operating margin -€17,928
down €17,928 (-8.7%), from €206,712 to €188,784
- Taxes -€6,472
down €6,472 (-17.2%), from €37,599 to €31,126
- Other operating charges +€2,497
up €2,497 (+84.9%), from €2,940 to €5,438
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 | €260,698 | €318,442 | +€57,745 | +22.2% |
| Fixed assets | 21/28 | €3,335 | €6,086 | +€2,752 | +82.5% |
| Tangible fixed assets | 22/27 | €3,034 | €5,786 | +€2,752 | +90.7% |
| Plant, machinery and equipment | 23 | €2,414 | €1,604 | -€811 | -33.6% |
| Furniture and vehicles | 24 | €620 | €620 | = | 0.0% |
| Other tangible fixed assets | 26 | - | €3,563 | +€3,563 | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €257,363 | €312,356 | +€54,993 | +21.4% |
| Stocks and contracts in progress | 3 | €2,499 | €3,000 | +€501 | +20.1% |
| Stocks | 30/36 | €2,499 | €3,000 | +€501 | +20.1% |
| Amounts receivable within one year | 40/41 | €14,151 | €15,986 | +€1,835 | +13.0% |
| Trade receivables | 40 | €633 | €633 | = | 0.0% |
| Other amounts receivable | 41 | €13,519 | €15,353 | +€1,835 | +13.6% |
| Cash at bank and in hand | 54/58 | €237,530 | €290,087 | +€52,558 | +22.1% |
| Deferred charges and accrued income | 490/1 | €3,183 | €3,283 | +€100 | +3.1% |
| Total equity and liabilities | 10/49 | €260,698 | €318,442 | +€57,745 | +22.2% |
| Equity | 10/15 | €233,377 | €299,622 | +€66,245 | +28.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €214,785 | €281,030 | +€66,245 | +30.8% |
| Tax-exempt reserves | 132 | €10,084 | €10,084 | = | 0.0% |
| Distributable reserves | 133 | €204,702 | €270,946 | +€66,245 | +32.4% |
| Amounts payable | 17/49 | €27,320 | €18,820 | -€8,500 | -31.1% |
| Amounts payable within one year | 42/48 | €27,320 | €18,820 | -€8,500 | -31.1% |
| Trade debts | 44 | €335 | €371 | +€36 | +10.8% |
| Suppliers | 440/4 | €335 | €371 | +€36 | +10.8% |
| Taxes, remuneration and social security | 45 | €26,985 | €18,450 | -€8,536 | -31.6% |
| Taxes | 450/3 | €15,732 | €14,136 | -€1,596 | -10.1% |
| Remuneration and social security | 454/9 | €11,254 | €4,314 | -€6,940 | -61.7% |
| Remuneration, social security and pensions | 62 | €80,604 | €81,633 | +€1,030 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €966 | €1,523 | +€557 | +57.7% |
| Other operating charges | 640/8 | €2,940 | €5,438 | +€2,497 | +84.9% |
| Gross operating margin | 9900 | €206,712 | €188,784 | -€17,928 | -8.7% |
| Operating profit (loss) | 9901 | €122,202 | €100,190 | -€22,011 | -18.0% |
| Financial income | 75/76B | €8 | €1 | -€8 | -90.4% |
| Recurring financial income | 75 | €8 | €1 | -€8 | -90.4% |
| Financial charges | 65/66B | €3,059 | €2,820 | -€238 | -7.8% |
| Recurring financial charges | 65 | €3,059 | €2,820 | -€238 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €119,151 | €97,371 | -€21,781 | -18.3% |
| Income taxes | 67/77 | €37,599 | €31,126 | -€6,472 | -17.2% |
| Profit (loss) for the period | 9904 | €81,553 | €66,245 | -€15,308 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €81,553 | €66,245 | -€15,308 | -18.8% |
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 24 October 2026 via checked.be.