RE-INVEST: what changed
RE-INVEST
Largest movements
- Cash +€191,239
new in 2025: €191,239
mainly Trade debts (+€254,483) and Current portion of long-term debt (+€93,651)
- Tangible fixed assets +€83,678
up €83,678 (+26.5%), from €315,290 to €398,967
of which Leasing and similar rights: +€133,082
- Stocks and contracts -€71,404
no longer reported in 2025 (was €71,404)
- Receivables within one year +€55,391
up €55,391 (+163%), from €34,042 to €89,432
of which Other amounts receivable: +€62,441
- Current investments -€13,941
no longer reported in 2025 (was €13,941)
- Trade debts +€254,483
up €254,483 (+1,607%), from €15,836 to €270,319
- Reserves -€202,694
down €202,694 (-95.5%), from €212,164 to €9,470
of which Distributable reserves: -€202,694
- Current portion of long-term debt +€93,651
up €93,651 (+1,350%), from €6,937 to €100,588
- Profit (loss) carried forward +€55,735
new in 2025: €55,735
- Debts after one year +€39,883
up €39,883 (+166%), from €24,003 to €63,885
- Gross operating margin -€128,693
down €128,693, from €30,185 to -€98,509
- Depreciation +€4,832
up €4,832 (+17.6%), from €27,452 to €32,284
- Other operating charges +€3,721
up €3,721 (+58.1%), from €6,405 to €10,126
- Financial charges +€2,741
up €2,741 (+73.6%), from €3,727 to €6,468
- Financial income +€1,268
new in 2025: €1,268
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €453,309 | €695,719 | +€242,410 | +53.5% |
| Fixed assets | 21/28 | €316,970 | €400,648 | +€83,678 | +26.4% |
| Tangible fixed assets | 22/27 | €315,290 | €398,967 | +€83,678 | +26.5% |
| Land and buildings | 22 | €255,394 | €240,227 | -€15,166 | -5.9% |
| Plant, machinery and equipment | 23 | €21,356 | €17,360 | -€3,996 | -18.7% |
| Furniture and vehicles | 24 | €38,540 | €8,298 | -€30,241 | -78.5% |
| Leasing and similar rights | 25 | - | €133,082 | +€133,082 | |
| Financial fixed assets | 28 | €1,681 | €1,681 | = | 0.0% |
| Current assets | 29/58 | €136,339 | €295,072 | +€158,733 | +116% |
| Stocks and contracts in progress | 3 | €71,404 | - | -€71,404 | |
| Stocks | 30/36 | €71,404 | - | -€71,404 | |
| Amounts receivable within one year | 40/41 | €34,042 | €89,432 | +€55,391 | +163% |
| Trade receivables | 40 | €26,248 | €19,198 | -€7,050 | -26.9% |
| Other amounts receivable | 41 | €7,794 | €70,234 | +€62,441 | +801% |
| Current investments | 50/53 | €13,941 | - | -€13,941 | |
| Cash at bank and in hand | 54/58 | - | €191,239 | +€191,239 | |
| Deferred charges and accrued income | 490/1 | €16,952 | €14,400 | -€2,552 | -15.1% |
| Total equity and liabilities | 10/49 | €453,309 | €695,719 | +€242,410 | +53.5% |
| Equity | 10/15 | €286,532 | €139,574 | -€146,958 | -51.3% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | - | -€74,368 | |
| Issued capital | 100 | €74,368 | - | -€74,368 | |
| Contributions outside capital | 11 | - | €74,368 | +€74,368 | |
| Other | 1109/19 | - | €74,368 | +€74,368 | |
| Reserves | 13 | €212,164 | €9,470 | -€202,694 | -95.5% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,033 | €2,033 | = | 0.0% |
| Distributable reserves | 133 | €202,694 | - | -€202,694 | |
| Profit (loss) carried forward | 14 | - | €55,735 | +€55,735 | |
| Amounts payable | 17/49 | €166,777 | €556,146 | +€389,369 | +233% |
| Amounts payable after more than one year | 17 | €24,003 | €63,885 | +€39,883 | +166% |
| Financial debts | 170/4 | €24,003 | €63,885 | +€39,883 | +166% |
| Amounts payable within one year | 42/48 | €141,178 | €490,496 | +€349,318 | +247% |
| Current portion of amounts payable after more than one year | 42 | €6,937 | €100,588 | +€93,651 | +1,350% |
| Trade debts | 44 | €15,836 | €270,319 | +€254,483 | +1,607% |
| Suppliers | 440/4 | €15,836 | €270,319 | +€254,483 | +1,607% |
| Taxes, remuneration and social security | 45 | €15,473 | €15,077 | -€396 | -2.6% |
| Taxes | 450/3 | €15,473 | €15,077 | -€396 | -2.6% |
| Other amounts payable | 47/48 | €102,931 | €104,512 | +€1,581 | +1.5% |
| Accrued charges and deferred income | 492/3 | €1,596 | €1,764 | +€168 | +10.5% |
| Non-recurring operating income | 76A | - | €2,616 | +€2,616 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,452 | €32,284 | +€4,832 | +17.6% |
| Other operating charges | 640/8 | €6,405 | €10,126 | +€3,721 | +58.1% |
| Gross operating margin | 9900 | €30,185 | -€98,509 | -€128,693 | |
| Operating profit (loss) | 9901 | -€3,673 | -€140,919 | -€137,246 | -3,737% |
| Financial income | 75/76B | - | €1,268 | +€1,268 | |
| Recurring financial income | 75 | - | €1,268 | +€1,268 | |
| Financial charges | 65/66B | €3,727 | €6,468 | +€2,741 | +73.6% |
| Recurring financial charges | 65 | €3,727 | €6,468 | +€2,741 | +73.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,399 | -€146,119 | -€138,720 | -1,875% |
| Income taxes | 67/77 | €396 | €839 | +€443 | +112% |
| Profit (loss) for the period | 9904 | -€7,795 | -€146,958 | -€139,163 | -1,785% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,795 | -€146,958 | -€139,163 | -1,785% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.