Re-ducE: 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-ducE
Largest movements
- Cash +€186,543
up €186,543 (+623%), from €29,964 to €216,508
mainly Net result for the year (+€175,114) and Current investments (+€124,287)
- Current investments -€124,287
down €124,287 (-23.7%), from €524,287 to €400,000
- Receivables within one year +€83,371
up €83,371 (+3,256%), from €2,561 to €85,932
of which Other amounts receivable: +€81,933
- Tangible fixed assets +€9,194
up €9,194 (+19.2%), from €47,771 to €56,966
of which Furniture and vehicles: +€19,744
- Reserves +€160,631
up €160,631 (+28.3%), from €568,420 to €729,051
of which Distributable reserves: +€160,631
- Tax, wage and social debts +€20,757
up €20,757 (+1,042%), from €1,992 to €22,749
of which Taxes: +€20,757
- Contributions -€18,182
down €18,182 (-97.8%), from €18,600 to €418
- Other debts -€9,456
down €9,456 (-100%), from €9,456 to €0
- Gross operating margin +€42,422
up €42,422 (+18.0%), from €235,523 to €277,944
- Taxes +€15,737
up €15,737 (+25.1%), from €62,699 to €78,436
- Other operating charges +€5,821
up €5,821 (+53.2%), from €10,950 to €16,771
- Financial income +€5,418
up €5,418 (+103%), from €5,249 to €10,667
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 | €608,432 | €762,303 | +€153,872 | +25.3% |
| Fixed assets | 21/28 | €47,771 | €56,966 | +€9,194 | +19.2% |
| Tangible fixed assets | 22/27 | €47,771 | €56,966 | +€9,194 | +19.2% |
| Plant, machinery and equipment | 23 | €4,137 | €3,478 | -€660 | -15.9% |
| Furniture and vehicles | 24 | €2,387 | €22,131 | +€19,744 | +827% |
| Other tangible fixed assets | 26 | €41,247 | €31,357 | -€9,890 | -24.0% |
| Current assets | 29/58 | €560,660 | €705,338 | +€144,677 | +25.8% |
| Amounts receivable within one year | 40/41 | €2,561 | €85,932 | +€83,371 | +3,256% |
| Trade receivables | 40 | - | €1,438 | +€1,438 | |
| Other amounts receivable | 41 | €2,561 | €84,494 | +€81,933 | +3,200% |
| Current investments | 50/53 | €524,287 | €400,000 | -€124,287 | -23.7% |
| Cash at bank and in hand | 54/58 | €29,964 | €216,508 | +€186,543 | +623% |
| Deferred charges and accrued income | 490/1 | €3,848 | €2,898 | -€950 | -24.7% |
| Total equity and liabilities | 10/49 | €608,432 | €762,303 | +€153,872 | +25.3% |
| Equity | 10/15 | €587,020 | €729,469 | +€142,449 | +24.3% |
| Contributions | 10/11 | €18,600 | €418 | -€18,182 | -97.8% |
| Reserves | 13 | €568,420 | €729,051 | +€160,631 | +28.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €320 | €320 | = | 0.0% |
| Distributable reserves | 133 | €568,100 | €728,731 | +€160,631 | +28.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,412 | €32,835 | +€11,423 | +53.3% |
| Amounts payable within one year | 42/48 | €21,412 | €32,835 | +€11,423 | +53.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €9,964 | €10,085 | +€122 | +1.2% |
| Suppliers | 440/4 | €9,964 | €10,085 | +€122 | +1.2% |
| Taxes, remuneration and social security | 45 | €1,992 | €22,749 | +€20,757 | +1,042% |
| Taxes | 450/3 | €1,992 | €22,749 | +€20,757 | +1,042% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €9,456 | €0 | -€9,456 | -100% |
| Non-recurring operating income | 76A | €23,227 | €6,335 | -€16,892 | -72.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,073 | €13,541 | -€1,532 | -10.2% |
| Other operating charges | 640/8 | €10,950 | €16,771 | +€5,821 | +53.2% |
| Gross operating margin | 9900 | €235,523 | €277,944 | +€42,422 | +18.0% |
| Operating profit (loss) | 9901 | €209,500 | €247,632 | +€38,133 | +18.2% |
| Financial income | 75/76B | €5,249 | €10,667 | +€5,418 | +103% |
| Recurring financial income | 75 | €5,249 | €10,667 | +€5,418 | +103% |
| Financial charges | 65/66B | €4,137 | €4,750 | +€613 | +14.8% |
| Recurring financial charges | 65 | €4,137 | €4,750 | +€613 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €210,613 | €253,550 | +€42,937 | +20.4% |
| Income taxes | 67/77 | €62,699 | €78,436 | +€15,737 | +25.1% |
| Profit (loss) for the period | 9904 | €147,914 | €175,114 | +€27,200 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €147,914 | €175,114 | +€27,200 | +18.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.