Re:Source: 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:Source
Largest movements
- Tangible fixed assets +€7.1m
up €7.1m (+347.8%), from €2.0m to €9.1m
of which Leasing and similar rights: +€8.8m
- Receivables within one year +€2.6m
up €2.6m (+27270.1%), from €9,437 to €2.6m
of which Trade receivables: +€2.4m
- Cash -€1.1m
down €1.1m (-98.2%), from €1.1m to €20,607
mainly Investment in fixed assets (net) (-€7.4m) and Receivables within one year (-€2.6m)
- Debts after one year +€4.6m
up €4.6m (+165.7%), from €2.8m to €7.4m
- Short-term financial debts +€2.1m
new in 2024: €2.1m
- Trade debts +€1.8m
up €1.8m (+3386.2%), from €53,494 to €1.9m
- Profit (loss) carried forward -€1.2m
down €1.2m (-410.3%), from -€300,214 to -€1.5m
- Current portion of long-term debt +€1.1m
up €1.1m (+14992.5%), from €7,352 to €1.1m
- Financial charges +€314,919
up €314,919 (+563.9%), from €55,850 to €370,769
- Depreciation +€297,628
up €297,628 (+746.4%), from €39,873 to €337,501
- Staff costs +€205,858
up €205,858 (+1811.8%), from €11,362 to €217,220
- Gross operating margin -€141,589
down €141,589 (-79.8%), from -€177,478 to -€319,068
- Financial income +€13,092
new in 2024: €13,092
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,397,258 | €11,942,674 | +€8.5m | +251.5% |
| Fixed assets | 21/28 | €2,266,958 | €9,297,926 | +€7.0m | +310.1% |
| Intangible fixed assets | 21 | €229,703 | €175,970 | -€53,733 | -23.4% |
| Tangible fixed assets | 22/27 | €2,037,255 | €9,121,956 | +€7.1m | +347.8% |
| Plant, machinery and equipment | 23 | - | €226,419 | +€226,419 | |
| Furniture and vehicles | 24 | €1,491 | €26,062 | +€24,571 | +1647.8% |
| Leasing and similar rights | 25 | €39,470 | €8,864,103 | +€8.8m | +22357.9% |
| Other tangible fixed assets | 26 | - | €5,373 | +€5,373 | |
| Assets under construction and advance payments | 27 | €1,996,294 | - | -€2.0m | |
| Current assets | 29/58 | €1,130,300 | €2,644,748 | +€1.5m | +134.0% |
| Stocks and contracts in progress | 3 | - | €41,250 | +€41,250 | |
| Stocks | 30/36 | - | €41,250 | +€41,250 | |
| Amounts receivable within one year | 40/41 | €9,437 | €2,582,890 | +€2.6m | +27270.1% |
| Trade receivables | 40 | - | €2,439,138 | +€2.4m | |
| Other amounts receivable | 41 | €9,437 | €143,753 | +€134,316 | +1423.3% |
| Cash at bank and in hand | 54/58 | €1,120,020 | €20,607 | -€1.1m | -98.2% |
| Deferred charges and accrued income | 490/1 | €843 | - | -€843 | |
| Total equity and liabilities | 10/49 | €3,397,258 | €11,942,674 | +€8.5m | +251.5% |
| Equity | 10/15 | €480,786 | -€750,963 | -€1.2m | |
| Contributions | 10/11 | €781,000 | €781,000 | = | 0.0% |
| Capital | 10 | €781,000 | €781,000 | = | 0.0% |
| Issued capital | 100 | €781,000 | €781,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€300,214 | -€1,531,963 | -€1.2m | -410.3% |
| Amounts payable | 17/49 | €2,916,472 | €12,693,637 | +€9.8m | +335.2% |
| Amounts payable after more than one year | 17 | €2,788,876 | €7,411,075 | +€4.6m | +165.7% |
| Financial debts | 170/4 | €2,788,876 | €7,411,075 | +€4.6m | +165.7% |
| Amounts payable within one year | 42/48 | €127,499 | €5,282,497 | +€5.2m | +4043.2% |
| Current portion of amounts payable after more than one year | 42 | €7,352 | €1,109,652 | +€1.1m | +14992.5% |
| Financial debts | 43 | - | €2,087,559 | +€2.1m | |
| Credit institutions | 430/8 | - | €2,087,559 | +€2.1m | |
| Trade debts | 44 | €53,494 | €1,864,913 | +€1.8m | +3386.2% |
| Suppliers | 440/4 | €53,494 | €1,864,913 | +€1.8m | +3386.2% |
| Taxes, remuneration and social security | 45 | €7,435 | €70,523 | +€63,088 | +848.5% |
| Taxes | 450/3 | €1,446 | €5,831 | +€4,385 | +303.3% |
| Remuneration and social security | 454/9 | €5,989 | €64,692 | +€58,703 | +980.2% |
| Other amounts payable | 47/48 | €59,218 | €149,850 | +€90,632 | +153.0% |
| Accrued charges and deferred income | 492/3 | €96 | €66 | -€31 | -31.8% |
| Remuneration, social security and pensions | 62 | €11,362 | €217,220 | +€205,858 | +1811.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,873 | €337,501 | +€297,628 | +746.4% |
| Other operating charges | 640/8 | €549 | €126 | -€423 | -77.1% |
| Gross operating margin | 9900 | -€177,478 | -€319,068 | -€141,589 | -79.8% |
| Operating profit (loss) | 9901 | -€229,263 | -€873,915 | -€644,652 | -281.2% |
| Financial income | 75/76B | - | €13,092 | +€13,092 | |
| Recurring financial income | 75 | - | €13,092 | +€13,092 | |
| Financial charges | 65/66B | €55,850 | €370,769 | +€314,919 | +563.9% |
| Recurring financial charges | 65 | €55,850 | €370,769 | +€314,919 | +563.9% |
| Profit (loss) for the period before taxes | 9903 | -€285,113 | -€1,231,592 | -€946,479 | -332.0% |
| Income taxes | 67/77 | - | €158 | +€158 | |
| Profit (loss) for the period | 9904 | -€285,113 | -€1,231,749 | -€946,637 | -332.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€285,113 | -€1,231,749 | -€946,637 | -332.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.