RE Panels 2: 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 Panels 2
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€7.0m
up €7.0m (+188608.1%), from €3,709 to €7.0m
- Gross operating margin -€3,723
down €3,723 (-54.9%), from -€6,788 to -€10,511
- Financial charges -€440
down €440 (-43.1%), from €1,023 to €582
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 | €67,513,811 | €67,911,364 | +€397,554 | +0.6% |
| Formation expenses | 20 | €7,265 | €5,711 | -€1,554 | -21.4% |
| Fixed assets | 21/28 | €67,461,700 | €67,461,700 | = | 0.0% |
| Financial fixed assets | 28 | €67,461,700 | €67,461,700 | = | 0.0% |
| Current assets | 29/58 | €44,845 | €443,953 | +€399,108 | +890.0% |
| Amounts receivable within one year | 40/41 | €36,727 | €37,686 | +€959 | +2.6% |
| Other amounts receivable | 41 | €36,727 | €37,686 | +€959 | +2.6% |
| Cash at bank and in hand | 54/58 | €8,018 | €406,167 | +€398,149 | +4965.4% |
| Deferred charges and accrued income | 490/1 | €100 | €100 | = | 0.0% |
| Total equity and liabilities | 10/49 | €67,513,811 | €67,911,364 | +€397,554 | +0.6% |
| Equity | 10/15 | €67,436,161 | €67,833,546 | +€397,386 | +0.6% |
| Contributions | 10/11 | €67,480,000 | €67,480,000 | = | 0.0% |
| Capital | 10 | €67,480,000 | €67,480,000 | = | 0.0% |
| Issued capital | 100 | €67,480,000 | €67,480,000 | = | 0.0% |
| Reserves | 13 | - | €347,127 | +€347,127 | |
| Non-distributable reserves | 130/1 | - | €347,127 | +€347,127 | |
| Legal reserve | 130 | - | €347,127 | +€347,127 | |
| Profit (loss) carried forward | 14 | -€43,839 | €6,419 | +€50,258 | |
| Amounts payable | 17/49 | €77,650 | €77,818 | +€168 | +0.2% |
| Amounts payable after more than one year | 17 | €61,404 | €61,404 | = | 0.0% |
| Financial debts | 170/4 | €61,404 | €61,404 | = | 0.0% |
| Amounts payable within one year | 42/48 | €16,246 | €16,414 | +€168 | +1.0% |
| Trade debts | 44 | €3,901 | €4,059 | +€157 | +4.0% |
| Suppliers | 440/4 | €3,901 | €4,059 | +€157 | +4.0% |
| Other amounts payable | 47/48 | €12,345 | €12,355 | +€11 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,554 | €1,554 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€6,788 | -€10,511 | -€3,723 | -54.9% |
| Operating profit (loss) | 9901 | -€9,310 | -€13,064 | -€3,754 | -40.3% |
| Financial income | 75/76B | €3,709 | €7,000,032 | +€7.0m | +188608.1% |
| Recurring financial income | 75 | €3,709 | €7,000,032 | +€7.0m | +188608.1% |
| Financial charges | 65/66B | €1,023 | €582 | -€440 | -43.1% |
| Recurring financial charges | 65 | €1,023 | €582 | -€440 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,623 | €6,986,386 | +€7.0m | |
| Profit (loss) for the period | 9904 | -€6,623 | €6,986,386 | +€7.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,623 | €6,986,386 | +€7.0m |
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 3 October 2026 via checked.be.