Readex: 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.
Readex
Largest movements
- Tangible fixed assets -€65,575
down €65,575 (-4.2%), from €1.5m to €1.5m
of which Land and buildings: -€64,910
- Cash -€49,967
down €49,967 (-23.7%), from €210,980 to €161,013
mainly Debts after one year (-€81,545) and Contributions, distributions and other (-€80,000)
- Debts after one year -€81,545
down €81,545 (-12.1%), from €675,331 to €593,787
- Reserves -€80,000
down €80,000 (-33.1%), from €241,860 to €161,860
of which Distributable reserves: -€80,000
- Other debts +€32,047
up €32,047 (+59.3%), from €54,052 to €86,098
- Profit (loss) carried forward +€26,630
up €26,630 (+3.8%), from €696,016 to €722,646
- Gross operating margin -€63,461
down €63,461 (-33.3%), from €190,326 to €126,865
- Taxes -€15,339
down €15,339 (-56.8%), from €27,026 to €11,688
- Financial charges -€2,129
down €2,129 (-22.8%), from €9,355 to €7,226
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 | €1,778,380 | €1,672,962 | -€105,418 | -5.9% |
| Fixed assets | 21/28 | €1,543,808 | €1,488,234 | -€55,575 | -3.6% |
| Tangible fixed assets | 22/27 | €1,543,808 | €1,478,234 | -€65,575 | -4.2% |
| Land and buildings | 22 | €1,540,586 | €1,475,676 | -€64,910 | -4.2% |
| Furniture and vehicles | 24 | €3,223 | €2,558 | -€665 | -20.6% |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €234,572 | €184,729 | -€49,843 | -21.2% |
| Amounts receivable within one year | 40/41 | €3,188 | €3,959 | +€772 | +24.2% |
| Trade receivables | 40 | - | €297 | +€297 | |
| Other amounts receivable | 41 | €3,188 | €3,662 | +€475 | +14.9% |
| Cash at bank and in hand | 54/58 | €210,980 | €161,013 | -€49,967 | -23.7% |
| Deferred charges and accrued income | 490/1 | €20,405 | €19,757 | -€648 | -3.2% |
| Total equity and liabilities | 10/49 | €1,778,380 | €1,672,962 | -€105,418 | -5.9% |
| Equity | 10/15 | €944,076 | €890,706 | -€53,370 | -5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €241,860 | €161,860 | -€80,000 | -33.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €240,000 | €160,000 | -€80,000 | -33.3% |
| Profit (loss) carried forward | 14 | €696,016 | €722,646 | +€26,630 | +3.8% |
| Amounts payable | 17/49 | €834,305 | €782,257 | -€52,048 | -6.2% |
| Amounts payable after more than one year | 17 | €675,331 | €593,787 | -€81,545 | -12.1% |
| Financial debts | 170/4 | €675,331 | €593,787 | -€81,545 | -12.1% |
| Amounts payable within one year | 42/48 | €158,227 | €187,723 | +€29,497 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €80,654 | €81,545 | +€891 | +1.1% |
| Trade debts | 44 | €1,472 | €1,452 | -€21 | -1.4% |
| Suppliers | 440/4 | €1,472 | €1,452 | -€21 | -1.4% |
| Taxes, remuneration and social security | 45 | €22,049 | €18,629 | -€3,420 | -15.5% |
| Taxes | 450/3 | €22,049 | €18,629 | -€3,420 | -15.5% |
| Other amounts payable | 47/48 | €54,052 | €86,098 | +€32,047 | +59.3% |
| Accrued charges and deferred income | 492/3 | €747 | €747 | = | 0.0% |
| Non-recurring operating income | 76A | - | €97 | +€97 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,443 | €71,478 | +€35 | 0.0% |
| Other operating charges | 640/8 | €11,289 | €9,846 | -€1,443 | -12.8% |
| Gross operating margin | 9900 | €190,326 | €126,865 | -€63,461 | -33.3% |
| Operating profit (loss) | 9901 | €107,594 | €45,542 | -€62,053 | -57.7% |
| Financial income | 75/76B | €1,178 | €2 | -€1,177 | -99.9% |
| Recurring financial income | 75 | €1,178 | €2 | -€1,177 | -99.9% |
| Financial charges | 65/66B | €9,355 | €7,226 | -€2,129 | -22.8% |
| Recurring financial charges | 65 | €9,355 | €7,226 | -€2,129 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €99,418 | €38,318 | -€61,100 | -61.5% |
| Income taxes | 67/77 | €27,026 | €11,688 | -€15,339 | -56.8% |
| Profit (loss) for the period | 9904 | €72,392 | €26,630 | -€45,762 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,392 | €26,630 | -€45,762 | -63.2% |
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 8 October 2026 via checked.be.