RE INVEST: 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 INVEST
Largest movements
- Tangible fixed assets -€26,747
down €26,747 (-7.6%), from €352,384 to €325,637
of which Land and buildings: -€21,824
- Receivables within one year -€18,001
down €18,001 (-91.5%), from €19,663 to €1,662
of which Trade receivables: -€19,663
- Other debts -€90,922
down €90,922 (-39.0%), from €233,137 to €142,215
- Reserves +€47,003
up €47,003 (+26.4%), from €177,884 to €224,887
of which Distributable reserves: +€47,916
- Short-term financial debts +€24,000
up €24,000 (+120%), from €20,000 to €44,000
- Tax, wage and social debts -€20,917
down €20,917 (-32.9%), from €63,574 to €42,657
- Gross operating margin +€15,181
up €15,181 (+18.7%), from €81,128 to €96,308
- Taxes -€14,905
down €14,905 (-37.5%), from €39,793 to €24,888
- Other operating charges -€8,584
down €8,584 (-42.2%), from €20,355 to €11,771
- Depreciation -€5,548
down €5,548 (-17.2%), from €32,295 to €26,747
- Financial income +€2,370
up €2,370 (+17.1%), from €13,895 to €16,265
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 | €1,429,195 | €1,380,277 | -€48,917 | -3.4% |
| Fixed assets | 21/28 | €758,940 | €743,097 | -€15,842 | -2.1% |
| Tangible fixed assets | 22/27 | €352,384 | €325,637 | -€26,747 | -7.6% |
| Land and buildings | 22 | €325,541 | €303,718 | -€21,824 | -6.7% |
| Furniture and vehicles | 24 | €19,148 | €18,547 | -€600 | -3.1% |
| Other tangible fixed assets | 26 | €7,694 | €3,372 | -€4,323 | -56.2% |
| Financial fixed assets | 28 | €406,556 | €417,460 | +€10,904 | +2.7% |
| Current assets | 29/58 | €670,255 | €637,180 | -€33,075 | -4.9% |
| Amounts receivable after more than one year | 29 | €639,519 | €628,588 | -€10,930 | -1.7% |
| Other amounts receivable | 291 | €639,519 | €628,588 | -€10,930 | -1.7% |
| Amounts receivable within one year | 40/41 | €19,663 | €1,662 | -€18,001 | -91.5% |
| Trade receivables | 40 | €19,663 | - | -€19,663 | |
| Other amounts receivable | 41 | - | €1,662 | +€1,662 | |
| Cash at bank and in hand | 54/58 | €11,074 | €6,930 | -€4,144 | -37.4% |
| Total equity and liabilities | 10/49 | €1,429,195 | €1,380,277 | -€48,917 | -3.4% |
| Equity | 10/15 | €1,019,942 | €1,066,945 | +€47,003 | +4.6% |
| Contributions | 10/11 | €61,505 | €61,505 | = | 0.0% |
| Capital | 10 | €61,505 | €61,505 | = | 0.0% |
| Issued capital | 100 | €61,505 | €61,505 | = | 0.0% |
| Reserves | 13 | €177,884 | €224,887 | +€47,003 | +26.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,343 | €9,430 | -€913 | -8.8% |
| Distributable reserves | 133 | €161,391 | €209,307 | +€47,916 | +29.7% |
| Profit (loss) carried forward | 14 | €780,553 | €780,553 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,328 | €4,858 | -€470 | -8.8% |
| Deferred taxes | 168 | €5,328 | €4,858 | -€470 | -8.8% |
| Amounts payable | 17/49 | €403,925 | €308,474 | -€95,451 | -23.6% |
| Amounts payable after more than one year | 17 | €58,469 | €55,209 | -€3,260 | -5.6% |
| Other amounts payable | 178/9 | €58,469 | €55,209 | -€3,260 | -5.6% |
| Amounts payable within one year | 42/48 | €334,233 | €250,516 | -€83,718 | -25.0% |
| Financial debts | 43 | €20,000 | €44,000 | +€24,000 | +120% |
| Credit institutions | 430/8 | €20,000 | €44,000 | +€24,000 | +120% |
| Trade debts | 44 | €17,523 | €21,643 | +€4,121 | +23.5% |
| Suppliers | 440/4 | €17,523 | €21,643 | +€4,121 | +23.5% |
| Taxes, remuneration and social security | 45 | €63,574 | €42,657 | -€20,917 | -32.9% |
| Taxes | 450/3 | €63,574 | €42,657 | -€20,917 | -32.9% |
| Other amounts payable | 47/48 | €233,137 | €142,215 | -€90,922 | -39.0% |
| Accrued charges and deferred income | 492/3 | €11,223 | €2,750 | -€8,473 | -75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,295 | €26,747 | -€5,548 | -17.2% |
| Other operating charges | 640/8 | €20,355 | €11,771 | -€8,584 | -42.2% |
| Gross operating margin | 9900 | €81,128 | €96,308 | +€15,181 | +18.7% |
| Operating profit (loss) | 9901 | €28,478 | €57,791 | +€29,313 | +103% |
| Financial income | 75/76B | €13,895 | €16,265 | +€2,370 | +17.1% |
| Recurring financial income | 75 | €13,895 | €16,265 | +€2,370 | +17.1% |
| Financial charges | 65/66B | €632 | €2,634 | +€2,002 | +317% |
| Recurring financial charges | 65 | €632 | €2,634 | +€2,002 | +317% |
| Profit (loss) for the period before taxes | 9903 | €41,741 | €71,421 | +€29,680 | +71.1% |
| Transfer from deferred taxes | 780 | €470 | €470 | = | 0.0% |
| Income taxes | 67/77 | €39,793 | €24,888 | -€14,905 | -37.5% |
| Profit (loss) for the period | 9904 | €2,418 | €47,003 | +€44,586 | +1,844% |
| Transfer from tax-exempt reserves | 789 | €913 | €913 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,330 | €47,916 | +€44,586 | +1,339% |
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.