RE-IN-VENTION: 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.
What changed
RE-IN-VENTION
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €870,972+€152,766
Equity
€7.6m
2024 · €7.4m+€226,737
Cash
€89,559
2024 · €33,588+€55,971
Balance sheet total
€9.5m
2024 · €9.4m+€96,426
Largest movements
Assets
- Stocks and contracts +€220,878
up €220,878 (+2.6%), from €8.4m to €8.6m
- Receivables within one year -€160,177
down €160,177 (-35.3%), from €454,200 to €294,023
Equity and liabilities
- Short-term financial debts -€1.2m
no longer reported in 2025 (was €1.2m)
- Other debts +€893,891
up €893,891 (+162%), from €550,724 to €1.4m
- Reserves +€227,239
up €227,239 (+3.1%), from €7.3m to €7.6m
of which Distributable reserves: +€564,039
- Trade debts -€197,087
down €197,087 (-92.2%), from €213,859 to €16,772
- Provisions +€150,000
new in 2025: €150,000
Income statement
- Gross operating margin +€473,202
up €473,202 (+34.0%), from €1.4m to €1.9m
- Provisions +€150,000
new in 2025: €150,000
- Taxes +€149,025
up €149,025 (+39.9%), from €373,576 to €522,602
- Financial charges +€50,726
up €50,726 (+73.2%), from €69,310 to €120,036
- Financial income +€25,561
up €25,561 (+856%), from €2,987 to €28,548
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.
Result 2024
€870,972
Gross operating margin
+€473,202
Staff costs
-€55
Depreciation
+€1,614
Provisions
-€150,000
Other operating charges
+€2,195
Financial income
+€25,561
Financial charges
-€50,726
Taxes
-€149,025
Result 2025
€1.0m
raises the resultlowers the result
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.
From operations
+€2.0m
Investment
-€6,392
Financing
-€1.9m
Cash 2024
€33,588
From operations (derived)
+€2.0m
Net result for the year
+€1.0m
Depreciation
+€37,166
Stocks and contracts
-€220,878
Receivables within one year
+€160,177
Deferred charges and accrued income
-€10,528
Provisions
+€150,000
Trade debts
-€197,087
Tax, wage and social debts
+€130,200
Other debts
+€893,891
Investment (derived)
-€6,392
Investment in fixed assets (net)
-€6,392
Financing
-€1.9m
Current portion of long-term debt
+€67,686
Short-term financial debts
-€1.2m
Contributions, distributions and other
-€797,000
Cash 2025
€89,559
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,388,976 | €9,485,402 | +€96,426 | +1.0% |
| Fixed assets | 21/28 | €502,410 | €471,636 | -€30,774 | -6.1% |
| Tangible fixed assets | 22/27 | €502,410 | €471,386 | -€31,024 | -6.2% |
| Land and buildings | 22 | €472,000 | €453,000 | -€19,000 | -4.0% |
| Plant, machinery and equipment | 23 | €7,175 | €9,463 | +€2,289 | +31.9% |
| Furniture and vehicles | 24 | €23,236 | €8,923 | -€14,313 | -61.6% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €8,886,566 | €9,013,766 | +€127,201 | +1.4% |
| Stocks and contracts in progress | 3 | €8,398,778 | €8,619,656 | +€220,878 | +2.6% |
| Stocks | 30/36 | €8,398,778 | €8,619,656 | +€220,878 | +2.6% |
| Amounts receivable within one year | 40/41 | €454,200 | €294,023 | -€160,177 | -35.3% |
| Trade receivables | 40 | €454,200 | €294,023 | -€160,177 | -35.3% |
| Cash at bank and in hand | 54/58 | €33,588 | €89,559 | +€55,971 | +167% |
| Deferred charges and accrued income | 490/1 | - | €10,528 | +€10,528 | |
| Total equity and liabilities | 10/49 | €9,388,976 | €9,485,402 | +€96,426 | +1.0% |
| Equity | 10/15 | €7,357,560 | €7,584,298 | +€226,737 | +3.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €7,336,599 | €7,563,838 | +€227,239 | +3.1% |
| Tax-exempt reserves | 132 | €926,200 | €589,400 | -€336,800 | -36.4% |
| Distributable reserves | 133 | €6,410,399 | €6,974,438 | +€564,039 | +8.8% |
| Profit (loss) carried forward | 14 | €501 | - | -€501 | |
| Provisions and deferred taxes | 16 | - | €150,000 | +€150,000 | |
| Provisions for liabilities and charges | 160/5 | - | €150,000 | +€150,000 | |
| Major repairs and maintenance | 162 | - | €150,000 | +€150,000 | |
| Amounts payable | 17/49 | €2,031,416 | €1,751,105 | -€280,311 | -13.8% |
| Amounts payable within one year | 42/48 | €2,031,416 | €1,751,105 | -€280,311 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | - | €67,686 | +€67,686 | |
| Financial debts | 43 | €1,175,000 | - | -€1.2m | |
| Other loans | 439 | €1,175,000 | - | -€1.2m | |
| Trade debts | 44 | €213,859 | €16,772 | -€197,087 | -92.2% |
| Suppliers | 440/4 | €213,859 | €16,772 | -€197,087 | -92.2% |
| Taxes, remuneration and social security | 45 | €91,832 | €222,032 | +€130,200 | +142% |
| Taxes | 450/3 | €87,001 | €217,280 | +€130,279 | +150% |
| Remuneration and social security | 454/9 | €4,831 | €4,752 | -€79 | -1.6% |
| Other amounts payable | 47/48 | €550,724 | €1,444,615 | +€893,891 | +162% |
| Remuneration, social security and pensions | 62 | €39,029 | €39,084 | +€55 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,780 | €37,166 | -€1,614 | -4.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €150,000 | +€150,000 | |
| Other operating charges | 640/8 | €3,687 | €1,491 | -€2,195 | -59.5% |
| Gross operating margin | 9900 | €1,392,367 | €1,865,569 | +€473,202 | +34.0% |
| Operating profit (loss) | 9901 | €1,310,871 | €1,637,827 | +€326,956 | +24.9% |
| Financial income | 75/76B | €2,987 | €28,548 | +€25,561 | +856% |
| Recurring financial income | 75 | €2,987 | €28,548 | +€25,561 | +856% |
| Financial charges | 65/66B | €69,310 | €120,036 | +€50,726 | +73.2% |
| Recurring financial charges | 65 | €69,310 | €120,036 | +€50,726 | +73.2% |
| Profit (loss) for the period before taxes | 9903 | €1,244,548 | €1,546,339 | +€301,791 | +24.2% |
| Income taxes | 67/77 | €373,576 | €522,602 | +€149,025 | +39.9% |
| Profit (loss) for the period | 9904 | €870,972 | €1,023,737 | +€152,766 | +17.5% |
| Transfer from tax-exempt reserves | 789 | - | €673,600 | +€673,600 | |
| Transfer to tax-exempt reserves | 689 | €252,600 | €336,800 | +€84,200 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €618,372 | €1,360,537 | +€742,166 | +120% |
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 20 October 2026 via checked.be.