REAL-X: 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.
REAL-X
Largest movements
- Cash +€16,835
up €16,835 (+12.8%), from €131,226 to €148,061
mainly Net result for the year (+€54,154) and Other debts (+€33,340)
- Receivables within one year +€5,984
up €5,984 (+28.8%), from €20,773 to €26,757
of which Trade receivables: +€4,247
- Reserves -€33,598
down €33,598 (-26.4%), from €127,099 to €93,501
- Other debts +€33,340
up €33,340 (+5,858%), from €569 to €33,909
- Profit (loss) carried forward +€19,681
up €19,681 (+57.1%), from €34,473 to €54,154
- Tax, wage and social debts +€3,711
up €3,711 (+154%), from €2,415 to €6,126
- Gross operating margin +€13,247
up €13,247 (+23.0%), from €57,680 to €70,926
- Depreciation -€10,351
down €10,351 (-91.9%), from €11,263 to €912
- Taxes +€4,090
up €4,090 (+36.8%), from €11,100 to €15,190
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 | €172,506 | €195,696 | +€23,190 | +13.4% |
| Fixed assets | 21/28 | €18,652 | €18,457 | -€195 | -1.0% |
| Tangible fixed assets | 22/27 | €18,652 | €18,457 | -€195 | -1.0% |
| Land and buildings | 22 | €17,818 | €17,818 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €638 | +€638 | |
| Furniture and vehicles | 24 | €833 | €0 | -€833 | -100% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €153,854 | €177,239 | +€23,385 | +15.2% |
| Amounts receivable within one year | 40/41 | €20,773 | €26,757 | +€5,984 | +28.8% |
| Trade receivables | 40 | €11,798 | €16,045 | +€4,247 | +36.0% |
| Other amounts receivable | 41 | €8,976 | €10,713 | +€1,737 | +19.4% |
| Cash at bank and in hand | 54/58 | €131,226 | €148,061 | +€16,835 | +12.8% |
| Deferred charges and accrued income | 490/1 | €1,855 | €2,420 | +€566 | +30.5% |
| Total equity and liabilities | 10/49 | €172,506 | €195,696 | +€23,190 | +13.4% |
| Equity | 10/15 | €167,571 | €153,655 | -€13,917 | -8.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €127,099 | €93,501 | -€33,598 | -26.4% |
| Distributable reserves | 133 | €127,099 | €93,501 | -€33,598 | -26.4% |
| Profit (loss) carried forward | 14 | €34,473 | €54,154 | +€19,681 | +57.1% |
| Amounts payable | 17/49 | €4,934 | €42,041 | +€37,107 | +752% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €4,934 | €42,041 | +€37,107 | +752% |
| Current portion of amounts payable after more than one year | 42 | €1,018 | €0 | -€1,018 | -100% |
| Trade debts | 44 | €932 | €2,006 | +€1,073 | +115% |
| Suppliers | 440/4 | €932 | €2,006 | +€1,073 | +115% |
| Taxes, remuneration and social security | 45 | €2,415 | €6,126 | +€3,711 | +154% |
| Taxes | 450/3 | €2,415 | €6,126 | +€3,711 | +154% |
| Other amounts payable | 47/48 | €569 | €33,909 | +€33,340 | +5,858% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,263 | €912 | -€10,351 | -91.9% |
| Other operating charges | 640/8 | €654 | €670 | +€16 | +2.5% |
| Gross operating margin | 9900 | €57,680 | €70,926 | +€13,247 | +23.0% |
| Operating profit (loss) | 9901 | €45,763 | €69,345 | +€23,581 | +51.5% |
| Financial charges | 65/66B | €190 | €1 | -€190 | -99.7% |
| Recurring financial charges | 65 | €190 | €1 | -€190 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | €45,573 | €69,344 | +€23,771 | +52.2% |
| Income taxes | 67/77 | €11,100 | €15,190 | +€4,090 | +36.8% |
| Profit (loss) for the period | 9904 | €34,473 | €54,154 | +€19,681 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,473 | €54,154 | +€19,681 | +57.1% |
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 26 October 2026 via checked.be.