EL REY: 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.
EL REY
Largest movements
- Cash -€20,148
down €20,148 (-14.1%), from €142,463 to €122,314
mainly Net result for the year (-€18,959) and Debts after one year (-€14,376)
- Receivables within one year -€16,820
down €16,820 (-80.9%), from €20,779 to €3,959
of which Trade receivables: -€17,359
- Tangible fixed assets -€16,223
down €16,223 (-7.3%), from €222,437 to €206,214
of which Land and buildings: -€11,904
- Profit (loss) carried forward -€18,959
down €18,959 (-34.7%), from €54,636 to €35,677
- Debts after one year -€14,376
down €14,376 (-17.3%), from €83,330 to €68,955
- Trade debts -€14,212
down €14,212 (-88.1%), from €16,128 to €1,915
- Tax, wage and social debts -€7,385
down €7,385 (-86.6%), from €8,524 to €1,139
- Gross operating margin -€15,812
down €15,812 (-87.8%), from €18,015 to €2,204
- Financial charges -€3,263
down €3,263 (-44.2%), from €7,383 to €4,120
- Taxes -€1,332
down €1,332 (-100%), from €1,332 to €0
- Depreciation -€340
down €340 (-2.1%), from €16,564 to €16,223
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 | €385,679 | €332,557 | -€53,122 | -13.8% |
| Fixed assets | 21/28 | €222,437 | €206,214 | -€16,223 | -7.3% |
| Tangible fixed assets | 22/27 | €222,437 | €206,214 | -€16,223 | -7.3% |
| Land and buildings | 22 | €211,416 | €199,512 | -€11,904 | -5.6% |
| Plant, machinery and equipment | 23 | €5,772 | €4,032 | -€1,740 | -30.1% |
| Furniture and vehicles | 24 | €5,249 | €2,670 | -€2,579 | -49.1% |
| Current assets | 29/58 | €163,242 | €126,343 | -€36,899 | -22.6% |
| Amounts receivable within one year | 40/41 | €20,779 | €3,959 | -€16,820 | -80.9% |
| Trade receivables | 40 | €20,779 | €3,420 | -€17,359 | -83.5% |
| Other amounts receivable | 41 | - | €539 | +€539 | |
| Cash at bank and in hand | 54/58 | €142,463 | €122,314 | -€20,148 | -14.1% |
| Deferred charges and accrued income | 490/1 | - | €70 | +€70 | |
| Total equity and liabilities | 10/49 | €385,679 | €332,557 | -€53,122 | -13.8% |
| Equity | 10/15 | €192,696 | €173,737 | -€18,959 | -9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €131,860 | €131,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,636 | €35,677 | -€18,959 | -34.7% |
| Amounts payable | 17/49 | €192,983 | €158,820 | -€34,163 | -17.7% |
| Amounts payable after more than one year | 17 | €83,330 | €68,955 | -€14,376 | -17.3% |
| Financial debts | 170/4 | €83,330 | €68,955 | -€14,376 | -17.3% |
| Amounts payable within one year | 42/48 | €109,265 | €89,865 | -€19,400 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €13,623 | €13,884 | +€261 | +1.9% |
| Trade debts | 44 | €16,128 | €1,915 | -€14,212 | -88.1% |
| Suppliers | 440/4 | €16,128 | €1,915 | -€14,212 | -88.1% |
| Taxes, remuneration and social security | 45 | €8,524 | €1,139 | -€7,385 | -86.6% |
| Taxes | 450/3 | €8,524 | €1,139 | -€7,385 | -86.6% |
| Other amounts payable | 47/48 | €70,990 | €72,927 | +€1,936 | +2.7% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,564 | €16,223 | -€340 | -2.1% |
| Other operating charges | 640/8 | €1,736 | €1,602 | -€134 | -7.7% |
| Gross operating margin | 9900 | €18,015 | €2,204 | -€15,812 | -87.8% |
| Operating profit (loss) | 9901 | -€284 | -€15,622 | -€15,337 | -5,391% |
| Financial income | 75/76B | €644 | €783 | +€138 | +21.5% |
| Recurring financial income | 75 | €644 | €783 | +€138 | +21.5% |
| Financial charges | 65/66B | €7,383 | €4,120 | -€3,263 | -44.2% |
| Recurring financial charges | 65 | €7,383 | €4,120 | -€3,263 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,023 | -€18,959 | -€11,936 | -170% |
| Income taxes | 67/77 | €1,332 | €0 | -€1,332 | -100% |
| Profit (loss) for the period | 9904 | -€8,355 | -€18,959 | -€10,604 | -127% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,355 | -€18,959 | -€10,604 | -127% |
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.