REALEX PROJECTS: 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.
REALEX PROJECTS
Largest movements
- Tangible fixed assets +€10,533
up €10,533 (+24.0%), from €43,825 to €54,358
of which Furniture and vehicles: +€10,991
- Cash -€7,623
down €7,623 (-36.0%), from €21,170 to €13,546
mainly Investment in fixed assets (net) (-€30,807) and Other debts (-€6,564)
- Receivables within one year +€1,721
up €1,721 (+39.7%), from €4,340 to €6,061
of which Trade receivables: +€1,138
- Debts after one year +€13,697
up €13,697 (+383.0%), from €3,576 to €17,274
- Other debts -€6,564
down €6,564 (-29.4%), from €22,336 to €15,772
- Current portion of long-term debt -€2,708
down €2,708 (-23.0%), from €11,781 to €9,073
- Profit (loss) carried forward +€1,916
up €1,916 (+14.6%), from €13,097 to €15,013
- Trade debts -€1,523
down €1,523 (-25.5%), from €5,972 to €4,449
- Depreciation +€5,465
up €5,465 (+36.9%), from €14,809 to €20,274
- Gross operating margin -€4,565
down €4,565 (-14.3%), from €31,967 to €27,402
- Taxes -€1,332
down €1,332 (-36.0%), from €3,702 to €2,370
- Financial charges +€490
up €490 (+43.4%), from €1,130 to €1,620
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 | €73,005 | €77,819 | +€4,814 | +6.6% |
| Fixed assets | 21/28 | €44,325 | €54,858 | +€10,533 | +23.8% |
| Tangible fixed assets | 22/27 | €43,825 | €54,358 | +€10,533 | +24.0% |
| Furniture and vehicles | 24 | €40,017 | €51,008 | +€10,991 | +27.5% |
| Other tangible fixed assets | 26 | €3,808 | €3,350 | -€458 | -12.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €28,680 | €22,961 | -€5,719 | -19.9% |
| Amounts receivable within one year | 40/41 | €4,340 | €6,061 | +€1,721 | +39.7% |
| Trade receivables | 40 | €4,340 | €5,478 | +€1,138 | +26.2% |
| Other amounts receivable | 41 | - | €584 | +€584 | |
| Cash at bank and in hand | 54/58 | €21,170 | €13,546 | -€7,623 | -36.0% |
| Deferred charges and accrued income | 490/1 | €3,170 | €3,353 | +€183 | +5.8% |
| Total equity and liabilities | 10/49 | €73,005 | €77,819 | +€4,814 | +6.6% |
| Equity | 10/15 | €23,097 | €25,013 | +€1,916 | +8.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,097 | €15,013 | +€1,916 | +14.6% |
| Amounts payable | 17/49 | €49,908 | €52,806 | +€2,898 | +5.8% |
| Amounts payable after more than one year | 17 | €3,576 | €17,274 | +€13,697 | +383.0% |
| Financial debts | 170/4 | €3,576 | €17,274 | +€13,697 | +383.0% |
| Amounts payable within one year | 42/48 | €46,332 | €35,532 | -€10,800 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €11,781 | €9,073 | -€2,708 | -23.0% |
| Trade debts | 44 | €5,972 | €4,449 | -€1,523 | -25.5% |
| Suppliers | 440/4 | €5,972 | €4,449 | -€1,523 | -25.5% |
| Taxes, remuneration and social security | 45 | €6,243 | €6,238 | -€6 | -0.1% |
| Taxes | 450/3 | €6,243 | €6,238 | -€6 | -0.1% |
| Other amounts payable | 47/48 | €22,336 | €15,772 | -€6,564 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,809 | €20,274 | +€5,465 | +36.9% |
| Other operating charges | 640/8 | €908 | €1,221 | +€313 | +34.5% |
| Gross operating margin | 9900 | €31,967 | €27,402 | -€4,565 | -14.3% |
| Operating profit (loss) | 9901 | €16,250 | €5,907 | -€10,343 | -63.6% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €1,130 | €1,620 | +€490 | +43.4% |
| Recurring financial charges | 65 | €1,130 | €1,620 | +€490 | +43.4% |
| Profit (loss) for the period before taxes | 9903 | €15,127 | €4,287 | -€10,840 | -71.7% |
| Income taxes | 67/77 | €3,702 | €2,370 | -€1,332 | -36.0% |
| Profit (loss) for the period | 9904 | €11,425 | €1,916 | -€9,509 | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,425 | €1,916 | -€9,509 | -83.2% |
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 6 October 2026 via checked.be.