De Reycke: 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 Reycke
Largest movements
- Cash -€292,719
down €292,719 (-51.2%), from €571,201 to €278,483
mainly Trade debts (-€238,885) and Current investments (-€101,023)
- Receivables within one year -€159,828
down €159,828 (-21.8%), from €734,567 to €574,739
of which Other amounts receivable: -€246,257
- Current investments +€101,023
up €101,023 (+430%), from €23,480 to €124,503
- Tangible fixed assets -€66,529
down €66,529 (-25.9%), from €256,514 to €189,985
- Trade debts -€238,885
down €238,885 (-95.0%), from €251,526 to €12,641
- Tax, wage and social debts -€100,665
down €100,665 (-91.9%), from €109,491 to €8,826
- Debts after one year -€50,611
down €50,611 (-33.5%), from €151,270 to €100,660
- Reserves -€24,045
down €24,045 (-3.3%), from €733,516 to €709,471
of which Tax-exempt reserves: -€24,045
- Current portion of long-term debt -€18,224
down €18,224 (-24.1%), from €75,611 to €57,386
- Financial charges -€38,622
down €38,622 (-86.6%), from €44,607 to €5,985
- Write-downs +€35,173
up €35,173, from -€34,198 to €975
- Gross operating margin -€32,322
down €32,322 (-47.2%), from €68,426 to €36,104
- Other operating charges -€29,926
down €29,926 (-92.7%), from €32,287 to €2,361
- Financial income -€26,798
down €26,798 (-51.3%), from €52,240 to €25,443
of which Financial income: -€26,798
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 | €1,588,105 | €1,170,535 | -€417,570 | -26.3% |
| Fixed assets | 21/28 | €256,514 | €189,985 | -€66,529 | -25.9% |
| Tangible fixed assets | 22/27 | €256,514 | €189,985 | -€66,529 | -25.9% |
| Land and buildings | 22 | €151,649 | €129,680 | -€21,969 | -14.5% |
| Plant, machinery and equipment | 23 | €27,621 | €12,473 | -€15,147 | -54.8% |
| Furniture and vehicles | 24 | €77,244 | €47,832 | -€29,412 | -38.1% |
| Current assets | 29/58 | €1,331,591 | €980,550 | -€351,041 | -26.4% |
| Amounts receivable within one year | 40/41 | €734,567 | €574,739 | -€159,828 | -21.8% |
| Trade receivables | 40 | €137,462 | €223,891 | +€86,429 | +62.9% |
| Other amounts receivable | 41 | €597,105 | €350,848 | -€246,257 | -41.2% |
| Current investments | 50/53 | €23,480 | €124,503 | +€101,023 | +430% |
| Cash at bank and in hand | 54/58 | €571,201 | €278,483 | -€292,719 | -51.2% |
| Deferred charges and accrued income | 490/1 | €2,343 | €2,825 | +€482 | +20.6% |
| Total equity and liabilities | 10/49 | €1,588,105 | €1,170,535 | -€417,570 | -26.3% |
| Equity | 10/15 | €950,408 | €937,338 | -€13,071 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €733,516 | €709,471 | -€24,045 | -3.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €166,807 | €142,763 | -€24,045 | -14.4% |
| Distributable reserves | 133 | €564,848 | €564,848 | = | 0.0% |
| Profit (loss) carried forward | 14 | €198,293 | €209,267 | +€10,974 | +5.5% |
| Provisions and deferred taxes | 16 | €49,799 | €43,788 | -€6,011 | -12.1% |
| Deferred taxes | 168 | €49,799 | €43,788 | -€6,011 | -12.1% |
| Amounts payable | 17/49 | €587,898 | €189,410 | -€398,488 | -67.8% |
| Amounts payable after more than one year | 17 | €151,270 | €100,660 | -€50,611 | -33.5% |
| Financial debts | 170/4 | €151,270 | €100,660 | -€50,611 | -33.5% |
| Amounts payable within one year | 42/48 | €436,628 | €88,721 | -€347,907 | -79.7% |
| Current portion of amounts payable after more than one year | 42 | €75,611 | €57,386 | -€18,224 | -24.1% |
| Financial debts | 43 | - | €89 | +€89 | |
| Credit institutions | 430/8 | - | €89 | +€89 | |
| Trade debts | 44 | €251,526 | €12,641 | -€238,885 | -95.0% |
| Suppliers | 440/4 | €251,526 | €12,641 | -€238,885 | -95.0% |
| Taxes, remuneration and social security | 45 | €109,491 | €8,826 | -€100,665 | -91.9% |
| Taxes | 450/3 | €109,491 | €8,826 | -€100,665 | -91.9% |
| Other amounts payable | 47/48 | - | €9,779 | +€9,779 | |
| Accrued charges and deferred income | 492/3 | - | €29 | +€29 | |
| Non-recurring operating income | 76A | €6,000 | €32,500 | +€26,500 | +442% |
| Remuneration, social security and pensions | 62 | €20 | €0 | -€20 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,964 | €66,529 | +€2,565 | +4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€34,198 | €975 | +€35,173 | |
| Other operating charges | 640/8 | €32,287 | €2,361 | -€29,926 | -92.7% |
| Non-recurring operating charges | 66A | €3,511 | €0 | -€3,511 | -100% |
| Gross operating margin | 9900 | €68,426 | €36,104 | -€32,322 | -47.2% |
| Operating profit (loss) | 9901 | €2,844 | -€33,761 | -€36,604 | |
| Financial income | 75/76B | €52,240 | €25,443 | -€26,798 | -51.3% |
| Recurring financial income | 75 | €52,240 | €25,443 | -€26,798 | -51.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €44,607 | €5,985 | -€38,622 | -86.6% |
| Recurring financial charges | 65 | €44,607 | €5,985 | -€38,622 | -86.6% |
| Profit (loss) for the period before taxes | 9903 | €10,477 | -€14,303 | -€24,780 | |
| Transfer from deferred taxes | 780 | €3,700 | €6,011 | +€2,311 | +62.5% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €9,902 | €4,779 | -€5,124 | -51.7% |
| Profit (loss) for the period | 9904 | €4,275 | -€13,071 | -€17,345 | |
| Transfer from tax-exempt reserves | 789 | €14,800 | €24,045 | +€9,245 | +62.5% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €19,075 | €10,974 | -€8,100 | -42.5% |
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 18 October 2026 via checked.be.