Re-FM: what changed
Two fiscal 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-FM
Largest movements
- Cash -€68,951
down €68,951 (-61.0%), from €113,052 to €44,101
mainly Other debts (-€68,260) and Contributions, distributions and other (-€60,000)
- Current investments -€65,000
down €65,000 (-100.0%), from €65,000 to €0
- Tangible fixed assets +€35,123
new in 2025: €35,123
- Receivables within one year +€13,277
up €13,277 (+63.2%), from €21,000 to €34,277
of which Other amounts receivable: +€9,778
- Other debts -€68,260
down €68,260 (-51.3%), from €133,001 to €64,741
- Tax, wage and social debts -€50,314
down €50,314 (-83.4%), from €60,305 to €9,991
of which Taxes: -€48,252
- Reserves +€33,146
up €33,146 (+3891.9%), from €852 to €33,998
- Gross operating margin -€39,672
down €39,672 (-23.6%), from €168,047 to €128,375
- Taxes -€13,226
down €13,226 (-34.3%), from €38,533 to €25,306
- Depreciation +€8,246
new in 2025: €8,246
- Financial income -€2,161
down €2,161 (-88.5%), from €2,443 to €282
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.
Cash bridge derived
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 | €200,924 | €114,152 | -€86,772 | -43.2% |
| Fixed assets | 21/28 | €240 | €35,363 | +€35,123 | +14634.6% |
| Tangible fixed assets | 22/27 | - | €35,123 | +€35,123 | |
| Furniture and vehicles | 24 | - | €35,123 | +€35,123 | |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €200,684 | €78,789 | -€121,895 | -60.7% |
| Amounts receivable within one year | 40/41 | €21,000 | €34,277 | +€13,277 | +63.2% |
| Trade receivables | 40 | €21,000 | €24,498 | +€3,498 | +16.7% |
| Other amounts receivable | 41 | - | €9,778 | +€9,778 | |
| Current investments | 50/53 | €65,000 | €0 | -€65,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €113,052 | €44,101 | -€68,951 | -61.0% |
| Deferred charges and accrued income | 490/1 | €1,632 | €412 | -€1,220 | -74.8% |
| Total equity and liabilities | 10/49 | €200,924 | €114,152 | -€86,772 | -43.2% |
| Equity | 10/15 | €5,852 | €38,998 | +€33,146 | +566.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €852 | €33,998 | +€33,146 | +3891.9% |
| Distributable reserves | 133 | €852 | €33,998 | +€33,146 | +3891.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €195,072 | €75,154 | -€119,918 | -61.5% |
| Amounts payable within one year | 42/48 | €194,908 | €75,154 | -€119,754 | -61.4% |
| Trade debts | 44 | €1,602 | €422 | -€1,180 | -73.7% |
| Suppliers | 440/4 | €1,602 | €422 | -€1,180 | -73.7% |
| Taxes, remuneration and social security | 45 | €60,305 | €9,991 | -€50,314 | -83.4% |
| Taxes | 450/3 | €55,819 | €7,566 | -€48,252 | -86.4% |
| Remuneration and social security | 454/9 | €4,486 | €2,425 | -€2,061 | -45.9% |
| Other amounts payable | 47/48 | €133,001 | €64,741 | -€68,260 | -51.3% |
| Accrued charges and deferred income | 492/3 | €165 | €0 | -€165 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,246 | +€8,246 | |
| Other operating charges | 640/8 | €450 | €1,244 | +€794 | +176.3% |
| Gross operating margin | 9900 | €168,047 | €128,375 | -€39,672 | -23.6% |
| Operating profit (loss) | 9901 | €167,597 | €118,884 | -€48,712 | -29.1% |
| Financial income | 75/76B | €2,443 | €282 | -€2,161 | -88.5% |
| Recurring financial income | 75 | €2,443 | €282 | -€2,161 | -88.5% |
| Financial charges | 65/66B | €868 | €713 | -€154 | -17.8% |
| Recurring financial charges | 65 | €868 | €713 | -€154 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €169,172 | €118,453 | -€50,719 | -30.0% |
| Income taxes | 67/77 | €38,533 | €25,306 | -€13,226 | -34.3% |
| Profit (loss) for the period | 9904 | €130,639 | €93,146 | -€37,493 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €130,639 | €93,146 | -€37,493 | -28.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.