RE:build: 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.
RE:build
Largest movements
- Cash +€114,253
up €114,253 (+163%), from €70,268 to €184,521
mainly Net result for the year (+€142,709) and Depreciation (+€37,298)
- Tangible fixed assets -€36,390
down €36,390 (-8.3%), from €439,988 to €403,598
of which Furniture and vehicles: -€28,957
- Receivables within one year -€32,303
down €32,303 (-100%), from €32,303 to €0
of which Trade receivables: -€30,250
- Reserves +€54,980
up €54,980 (+12.6%), from €435,406 to €490,386
of which Distributable reserves: +€54,980
- Debts after one year -€38,557
down €38,557 (-16.3%), from €236,505 to €197,948
- Tax, wage and social debts +€23,067
up €23,067 (+53.2%), from €43,330 to €66,397
- Current portion of long-term debt +€16,283
up €16,283 (+43.5%), from €37,439 to €53,722
- Gross operating margin +€35,911
up €35,911 (+17.3%), from €207,840 to €243,751
- Taxes +€10,002
up €10,002 (+19.4%), from €51,461 to €61,464
- Depreciation +€4,081
up €4,081 (+12.3%), from €33,217 to €37,298
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 | €797,162 | €844,433 | +€47,271 | +5.9% |
| Fixed assets | 21/28 | €440,852 | €405,098 | -€35,754 | -8.1% |
| Tangible fixed assets | 22/27 | €439,988 | €403,598 | -€36,390 | -8.3% |
| Land and buildings | 22 | €324,394 | €316,567 | -€7,827 | -2.4% |
| Plant, machinery and equipment | 23 | €1,733 | €2,126 | +€393 | +22.7% |
| Furniture and vehicles | 24 | €113,861 | €84,904 | -€28,957 | -25.4% |
| Financial fixed assets | 28 | €864 | €1,500 | +€636 | +73.6% |
| Current assets | 29/58 | €356,310 | €439,334 | +€83,025 | +23.3% |
| Amounts receivable after more than one year | 29 | €225,000 | €225,000 | = | 0.0% |
| Other amounts receivable | 291 | €225,000 | €225,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,303 | €0 | -€32,303 | -100% |
| Trade receivables | 40 | €30,250 | €0 | -€30,250 | -100% |
| Other amounts receivable | 41 | €2,053 | €0 | -€2,053 | -100% |
| Current investments | 50/53 | €22,806 | €22,806 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,268 | €184,521 | +€114,253 | +163% |
| Deferred charges and accrued income | 490/1 | €5,933 | €7,008 | +€1,075 | +18.1% |
| Total equity and liabilities | 10/49 | €797,162 | €844,433 | +€47,271 | +5.9% |
| Equity | 10/15 | €454,006 | €508,986 | +€54,980 | +12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €435,406 | €490,386 | +€54,980 | +12.6% |
| Non-distributable reserves | 130/1 | €22,806 | €22,806 | = | 0.0% |
| Own shares acquired | 1312 | €22,806 | €22,806 | = | 0.0% |
| Distributable reserves | 133 | €412,600 | €467,580 | +€54,980 | +13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,250 | €1,250 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,250 | €1,250 | = | 0.0% |
| Other liabilities and charges | 164/5 | €1,250 | €1,250 | = | 0.0% |
| Amounts payable | 17/49 | €341,906 | €334,197 | -€7,710 | -2.3% |
| Amounts payable after more than one year | 17 | €236,505 | €197,948 | -€38,557 | -16.3% |
| Financial debts | 170/4 | €236,505 | €197,948 | -€38,557 | -16.3% |
| Amounts payable within one year | 42/48 | €105,401 | €136,249 | +€30,848 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €37,439 | €53,722 | +€16,283 | +43.5% |
| Trade debts | 44 | €2,188 | €1,645 | -€542 | -24.8% |
| Suppliers | 440/4 | €2,188 | €1,645 | -€542 | -24.8% |
| Taxes, remuneration and social security | 45 | €43,330 | €66,397 | +€23,067 | +53.2% |
| Taxes | 450/3 | €43,330 | €66,397 | +€23,067 | +53.2% |
| Other amounts payable | 47/48 | €22,445 | €14,484 | -€7,961 | -35.5% |
| Non-recurring operating income | 76A | €24,704 | €0 | -€24,704 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,217 | €37,298 | +€4,081 | +12.3% |
| Other operating charges | 640/8 | €2,238 | €2,726 | +€488 | +21.8% |
| Gross operating margin | 9900 | €207,840 | €243,751 | +€35,911 | +17.3% |
| Operating profit (loss) | 9901 | €172,385 | €203,727 | +€31,342 | +18.2% |
| Financial income | 75/76B | €5,951 | €7,384 | +€1,433 | +24.1% |
| Recurring financial income | 75 | €5,951 | €7,384 | +€1,433 | +24.1% |
| Financial charges | 65/66B | €6,399 | €6,939 | +€540 | +8.4% |
| Recurring financial charges | 65 | €6,399 | €6,939 | +€540 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €171,937 | €204,172 | +€32,235 | +18.7% |
| Income taxes | 67/77 | €51,461 | €61,464 | +€10,002 | +19.4% |
| Profit (loss) for the period | 9904 | €120,476 | €142,709 | +€22,233 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €120,476 | €142,709 | +€22,233 | +18.5% |
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 17 October 2026 via checked.be.