REALEX: 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.
REALEX
Largest movements
- Receivables within one year -€3,798
down €3,798 (-22.8%), from €16,626 to €12,829
of which Trade receivables: -€3,748
- Cash +€3,741
up €3,741 (+68.9%), from €5,429 to €9,170
mainly Short-term financial debts (+€73,740) and Net result for the year (+€15,786)
- Tangible fixed assets -€2,845
down €2,845 (-16.4%), from €17,333 to €14,488
- Deferred charges and accrued income +€2,731
up €2,731 (+390%), from €700 to €3,431
- Short-term financial debts +€73,740
up €73,740 (+2,575%), from €2,864 to €76,604
- Other debts -€57,744
down €57,744 (-91.9%), from €62,806 to €5,062
- Current portion of long-term debt -€10,406
down €10,406 (-100%), from €10,406 to €0
- Reserves -€5,175
down €5,175 (-10.6%), from €48,805 to €43,630
- Profit (loss) carried forward -€4,976
down €4,976 (-100%), from €4,976 to €0
- Gross operating margin -€7,585
down €7,585 (-22.6%), from €33,550 to €25,966
- Taxes -€4,485
down €4,485 (-44.1%), from €10,171 to €5,685
- Financial charges -€2,265
down €2,265 (-37.8%), from €5,992 to €3,727
- Depreciation -€1,602
down €1,602 (-13.6%), from €11,818 to €10,216
- Financial income +€1,574
up €1,574 (+16.2%), from €9,695 to €11,269
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 | €153,342 | €154,560 | +€1,218 | +0.8% |
| Fixed assets | 21/28 | €130,587 | €129,131 | -€1,456 | -1.1% |
| Tangible fixed assets | 22/27 | €17,333 | €14,488 | -€2,845 | -16.4% |
| Furniture and vehicles | 24 | €17,333 | €14,488 | -€2,845 | -16.4% |
| Financial fixed assets | 28 | €113,254 | €114,643 | +€1,389 | +1.2% |
| Current assets | 29/58 | €22,755 | €25,429 | +€2,674 | +11.8% |
| Amounts receivable within one year | 40/41 | €16,626 | €12,829 | -€3,798 | -22.8% |
| Trade receivables | 40 | €16,577 | €12,829 | -€3,748 | -22.6% |
| Other amounts receivable | 41 | €49 | €0 | -€49 | -100% |
| Cash at bank and in hand | 54/58 | €5,429 | €9,170 | +€3,741 | +68.9% |
| Deferred charges and accrued income | 490/1 | €700 | €3,431 | +€2,731 | +390% |
| Total equity and liabilities | 10/49 | €153,342 | €154,560 | +€1,218 | +0.8% |
| Equity | 10/15 | €59,980 | €49,830 | -€10,150 | -16.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €48,805 | €43,630 | -€5,175 | -10.6% |
| Distributable reserves | 133 | €48,805 | €43,630 | -€5,175 | -10.6% |
| Profit (loss) carried forward | 14 | €4,976 | €0 | -€4,976 | -100% |
| Amounts payable | 17/49 | €93,362 | €104,730 | +€11,368 | +12.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €93,362 | €104,730 | +€11,368 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €10,406 | €0 | -€10,406 | -100% |
| Financial debts | 43 | €2,864 | €76,604 | +€73,740 | +2,575% |
| Credit institutions | 430/8 | €2,864 | €76,604 | +€73,740 | +2,575% |
| Trade debts | 44 | €5,117 | €8,756 | +€3,639 | +71.1% |
| Suppliers | 440/4 | €5,117 | €8,756 | +€3,639 | +71.1% |
| Taxes, remuneration and social security | 45 | €12,169 | €14,308 | +€2,140 | +17.6% |
| Taxes | 450/3 | €12,169 | €14,308 | +€2,140 | +17.6% |
| Other amounts payable | 47/48 | €62,806 | €5,062 | -€57,744 | -91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,818 | €10,216 | -€1,602 | -13.6% |
| Other operating charges | 640/8 | €1,677 | €1,820 | +€144 | +8.6% |
| Gross operating margin | 9900 | €33,550 | €25,966 | -€7,585 | -22.6% |
| Operating profit (loss) | 9901 | €20,056 | €13,930 | -€6,126 | -30.5% |
| Financial income | 75/76B | €9,695 | €11,269 | +€1,574 | +16.2% |
| Recurring financial income | 75 | €9,695 | €11,269 | +€1,574 | +16.2% |
| Financial charges | 65/66B | €5,992 | €3,727 | -€2,265 | -37.8% |
| Recurring financial charges | 65 | €5,992 | €3,727 | -€2,265 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €23,758 | €21,472 | -€2,286 | -9.6% |
| Income taxes | 67/77 | €10,171 | €5,685 | -€4,485 | -44.1% |
| Profit (loss) for the period | 9904 | €13,587 | €15,786 | +€2,199 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,587 | €15,786 | +€2,199 | +16.2% |
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 23 October 2026 via checked.be.