REAC: 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.
REAC
Largest movements
- Receivables after one year -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€60,672
up €60,672 (+380%), from €15,983 to €76,655
mainly Receivables after one year (+€75,000) and Depreciation (+€44,751)
- Tangible fixed assets +€18,630
up €18,630 (+16.1%), from €115,747 to €134,377
of which Furniture and vehicles: +€11,610
- Receivables within one year -€18,425
down €18,425 (-5.1%), from €358,348 to €339,923
of which Trade receivables: -€44,826
- Debts after one year -€75,863
down €75,863 (-57.4%), from €132,252 to €56,390
of which Other amounts payable: -€50,000
- Current portion of long-term debt +€35,628
up €35,628 (+125%), from €28,571 to €64,200
- Trade debts +€28,437
up €28,437 (+18.0%), from €158,323 to €186,759
- Profit (loss) carried forward +€6,112
up €6,112 (+2.8%), from €215,434 to €221,545
- Write-downs +€25,000
new in 2025: €25,000
- Depreciation +€14,429
up €14,429 (+47.6%), from €30,322 to €44,751
- Gross operating margin +€7,153
up €7,153 (+7.1%), from €100,155 to €107,308
- Other operating charges -€5,739
down €5,739 (-43.8%), from €13,103 to €7,364
- Taxes -€4,976
down €4,976 (-48.7%), from €10,208 to €5,232
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 | €573,305 | €561,995 | -€11,310 | -2.0% |
| Fixed assets | 21/28 | €116,465 | €135,845 | +€19,380 | +16.6% |
| Tangible fixed assets | 22/27 | €115,747 | €134,377 | +€18,630 | +16.1% |
| Plant, machinery and equipment | 23 | €4,167 | €11,187 | +€7,020 | +168% |
| Furniture and vehicles | 24 | €111,580 | €123,190 | +€11,610 | +10.4% |
| Financial fixed assets | 28 | €718 | €1,468 | +€750 | +105% |
| Current assets | 29/58 | €456,840 | €426,151 | -€30,690 | -6.7% |
| Amounts receivable after more than one year | 29 | €75,000 | - | -€75,000 | |
| Other amounts receivable | 291 | €75,000 | - | -€75,000 | |
| Amounts receivable within one year | 40/41 | €358,348 | €339,923 | -€18,425 | -5.1% |
| Trade receivables | 40 | €338,033 | €293,208 | -€44,826 | -13.3% |
| Other amounts receivable | 41 | €20,314 | €46,716 | +€26,401 | +130% |
| Cash at bank and in hand | 54/58 | €15,983 | €76,655 | +€60,672 | +380% |
| Deferred charges and accrued income | 490/1 | €7,509 | €9,572 | +€2,063 | +27.5% |
| Total equity and liabilities | 10/49 | €573,305 | €561,995 | -€11,310 | -2.0% |
| Equity | 10/15 | €240,396 | €246,508 | +€6,112 | +2.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,763 | €18,763 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,863 | €1,863 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,863 | €1,863 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,900 | €16,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €215,434 | €221,545 | +€6,112 | +2.8% |
| Amounts payable | 17/49 | €332,909 | €315,488 | -€17,421 | -5.2% |
| Amounts payable after more than one year | 17 | €132,252 | €56,390 | -€75,863 | -57.4% |
| Financial debts | 170/4 | €82,252 | €56,390 | -€25,863 | -31.4% |
| Other amounts payable | 178/9 | €50,000 | - | -€50,000 | |
| Amounts payable within one year | 42/48 | €199,057 | €258,586 | +€59,529 | +29.9% |
| Current portion of amounts payable after more than one year | 42 | €28,571 | €64,200 | +€35,628 | +125% |
| Trade debts | 44 | €158,323 | €186,759 | +€28,437 | +18.0% |
| Suppliers | 440/4 | €158,323 | €186,759 | +€28,437 | +18.0% |
| Taxes, remuneration and social security | 45 | €12,162 | €7,627 | -€4,536 | -37.3% |
| Taxes | 450/3 | €12,052 | €5,200 | -€6,852 | -56.9% |
| Remuneration and social security | 454/9 | €110 | €2,427 | +€2,316 | +2,102% |
| Accrued charges and deferred income | 492/3 | €1,600 | €512 | -€1,088 | -68.0% |
| Remuneration, social security and pensions | 62 | €16,553 | €12,420 | -€4,133 | -25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,322 | €44,751 | +€14,429 | +47.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,000 | +€25,000 | |
| Other operating charges | 640/8 | €13,103 | €7,364 | -€5,739 | -43.8% |
| Gross operating margin | 9900 | €100,155 | €107,308 | +€7,153 | +7.1% |
| Operating profit (loss) | 9901 | €40,178 | €17,773 | -€22,405 | -55.8% |
| Financial income | 75/76B | €118 | €309 | +€191 | +162% |
| Recurring financial income | 75 | €118 | €309 | +€191 | +162% |
| Financial charges | 65/66B | €6,314 | €6,739 | +€424 | +6.7% |
| Recurring financial charges | 65 | €6,314 | €6,739 | +€424 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €33,981 | €11,343 | -€22,638 | -66.6% |
| Income taxes | 67/77 | €10,208 | €5,232 | -€4,976 | -48.7% |
| Profit (loss) for the period | 9904 | €23,774 | €6,112 | -€17,662 | -74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,774 | €6,112 | -€17,662 | -74.3% |
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 14 October 2026 via checked.be.