Edward Reich: 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.
Edward Reich
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-84.8%), from €1.2m to €180,117
of which Trade receivables: -€930,245
- Current investments +€850,000
new in 2025: €850,000
- Cash +€167,038
up €167,038 (+501%), from €33,348 to €200,386
mainly Receivables within one year (+€1.0m) and Net result for the year (+€688,440)
- Other debts +€684,006
up €684,006 (+495%), from €138,292 to €822,298
- Profit (loss) carried forward -€663,630
down €663,630 (-100%), from €663,630 to €0
- Gross operating margin -€29,669
down €29,669 (-3.2%), from €937,906 to €908,237
- Financial income +€16,462
up €16,462 (+68,880%), from €24 to €16,486
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 | €1,230,697 | €1,247,543 | +€16,846 | +1.4% |
| Fixed assets | 21/28 | €5,750 | €9,793 | +€4,043 | +70.3% |
| Tangible fixed assets | 22/27 | €5,750 | €9,793 | +€4,043 | +70.3% |
| Plant, machinery and equipment | 23 | €2,640 | €2,861 | +€221 | +8.4% |
| Furniture and vehicles | 24 | €3,110 | €6,932 | +€3,822 | +123% |
| Current assets | 29/58 | €1,224,947 | €1,237,750 | +€12,803 | +1.0% |
| Amounts receivable within one year | 40/41 | €1,184,969 | €180,117 | -€1.0m | -84.8% |
| Trade receivables | 40 | €1,110,356 | €180,111 | -€930,245 | -83.8% |
| Other amounts receivable | 41 | €74,614 | €6 | -€74,607 | -100.0% |
| Current investments | 50/53 | - | €850,000 | +€850,000 | |
| Cash at bank and in hand | 54/58 | €33,348 | €200,386 | +€167,038 | +501% |
| Deferred charges and accrued income | 490/1 | €6,630 | €7,247 | +€617 | +9.3% |
| Total equity and liabilities | 10/49 | €1,230,697 | €1,247,543 | +€16,846 | +1.4% |
| Equity | 10/15 | €1,064,991 | €401,361 | -€663,630 | -62.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €382,761 | €382,761 | = | 0.0% |
| Tax-exempt reserves | 132 | €382,226 | €382,226 | = | 0.0% |
| Distributable reserves | 133 | €536 | €536 | = | 0.0% |
| Profit (loss) carried forward | 14 | €663,630 | €0 | -€663,630 | -100% |
| Amounts payable | 17/49 | €165,706 | €846,181 | +€680,476 | +411% |
| Amounts payable within one year | 42/48 | €152,216 | €840,746 | +€688,530 | +452% |
| Trade debts | 44 | €3,724 | €3,485 | -€240 | -6.4% |
| Suppliers | 440/4 | €3,724 | €3,485 | -€240 | -6.4% |
| Taxes, remuneration and social security | 45 | €10,200 | €14,963 | +€4,763 | +46.7% |
| Taxes | 450/3 | €0 | €11,563 | +€11,563 | |
| Remuneration and social security | 454/9 | €10,200 | €3,400 | -€6,800 | -66.7% |
| Other amounts payable | 47/48 | €138,292 | €822,298 | +€684,006 | +495% |
| Accrued charges and deferred income | 492/3 | €13,490 | €5,436 | -€8,054 | -59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,505 | €4,489 | +€985 | +28.1% |
| Other operating charges | 640/8 | €667 | €691 | +€23 | +3.5% |
| Gross operating margin | 9900 | €937,906 | €908,237 | -€29,669 | -3.2% |
| Operating profit (loss) | 9901 | €933,734 | €903,057 | -€30,677 | -3.3% |
| Financial income | 75/76B | €24 | €16,486 | +€16,462 | +68,880% |
| Recurring financial income | 75 | €24 | €16,486 | +€16,462 | +68,880% |
| Financial charges | 65/66B | €13,547 | €5,295 | -€8,252 | -60.9% |
| Recurring financial charges | 65 | €13,547 | €5,295 | -€8,252 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €920,211 | €914,248 | -€5,963 | -0.6% |
| Income taxes | 67/77 | €223,816 | €225,807 | +€1,991 | +0.9% |
| Profit (loss) for the period | 9904 | €696,394 | €688,440 | -€7,954 | -1.1% |
| Transfer to tax-exempt reserves | 689 | €309,435 | €0 | -€309,435 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €386,959 | €688,440 | +€301,481 | +77.9% |
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 19 October 2026 via checked.be.