REAZN+: 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.
REAZN+
Largest movements
- Receivables within one year +€33,209
up €33,209 (+12.9%), from €256,771 to €289,980
of which Trade receivables: +€56,650
- Deferred charges and accrued income -€24,131
down €24,131 (-79.6%), from €30,320 to €6,188
- Short-term financial debts +€161,001
up €161,001 (+114%), from €141,710 to €302,712
- Other debts -€150,000
no longer reported in 2025 (was €150,000)
- Reserves +€100,267
up €100,267 (+142%), from €70,693 to €170,960
of which Distributable reserves: +€100,267
- Debts after one year -€80,000
down €80,000 (-48.0%), from €166,668 to €86,668
- Trade debts -€19,869
down €19,869 (-9.7%), from €205,442 to €185,572
- Staff costs -€101,143
down €101,143 (-4.9%), from €2.1m to €2.0m
- Gross operating margin -€63,290
down €63,290 (-2.6%), from €2.4m to €2.4m
- Taxes +€37,293
up €37,293 (+125%), from €29,753 to €67,046
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 | €1,542,432 | €1,543,160 | +€728 | 0.0% |
| Fixed assets | 21/28 | €1,254,782 | €1,246,918 | -€7,864 | -0.6% |
| Tangible fixed assets | 22/27 | €1,254,724 | €1,246,860 | -€7,864 | -0.6% |
| Land and buildings | 22 | €1,067,125 | €1,037,811 | -€29,314 | -2.7% |
| Plant, machinery and equipment | 23 | €176,374 | €134,625 | -€41,749 | -23.7% |
| Furniture and vehicles | 24 | €10,144 | €632 | -€9,511 | -93.8% |
| Assets under construction and advance payments | 27 | €1,081 | €73,792 | +€72,711 | +6,723% |
| Financial fixed assets | 28 | €57 | €57 | = | 0.0% |
| Current assets | 29/58 | €287,651 | €296,243 | +€8,592 | +3.0% |
| Amounts receivable within one year | 40/41 | €256,771 | €289,980 | +€33,209 | +12.9% |
| Trade receivables | 40 | €219,073 | €275,723 | +€56,650 | +25.9% |
| Other amounts receivable | 41 | €37,698 | €14,257 | -€23,441 | -62.2% |
| Cash at bank and in hand | 54/58 | €560 | €74 | -€486 | -86.8% |
| Deferred charges and accrued income | 490/1 | €30,320 | €6,188 | -€24,131 | -79.6% |
| Total equity and liabilities | 10/49 | €1,542,432 | €1,543,160 | +€728 | 0.0% |
| Equity | 10/15 | €420,693 | €520,960 | +€100,267 | +23.8% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €70,693 | €170,960 | +€100,267 | +142% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35,000 | €35,000 | = | 0.0% |
| Distributable reserves | 133 | €35,693 | €135,960 | +€100,267 | +281% |
| Amounts payable | 17/49 | €1,121,739 | €1,022,200 | -€99,539 | -8.9% |
| Amounts payable after more than one year | 17 | €166,668 | €86,668 | -€80,000 | -48.0% |
| Financial debts | 170/4 | €166,668 | €86,668 | -€80,000 | -48.0% |
| Amounts payable within one year | 42/48 | €954,993 | €935,480 | -€19,513 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 43 | €141,710 | €302,712 | +€161,001 | +114% |
| Credit institutions | 430/8 | €141,710 | €302,712 | +€161,001 | +114% |
| Trade debts | 44 | €205,442 | €185,572 | -€19,869 | -9.7% |
| Suppliers | 440/4 | €205,442 | €185,572 | -€19,869 | -9.7% |
| Taxes, remuneration and social security | 45 | €377,841 | €367,196 | -€10,645 | -2.8% |
| Taxes | 450/3 | €60,680 | €77,665 | +€16,986 | +28.0% |
| Remuneration and social security | 454/9 | €317,161 | €289,530 | -€27,631 | -8.7% |
| Other amounts payable | 47/48 | €150,000 | - | -€150,000 | |
| Accrued charges and deferred income | 492/3 | €78 | €53 | -€25 | -32.4% |
| Remuneration, social security and pensions | 62 | €2,062,742 | €1,961,599 | -€101,143 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,941 | €163,536 | +€10,595 | +6.9% |
| Other operating charges | 640/8 | €22,656 | €25,004 | +€2,348 | +10.4% |
| Gross operating margin | 9900 | €2,446,704 | €2,383,413 | -€63,290 | -2.6% |
| Operating profit (loss) | 9901 | €208,365 | €233,274 | +€24,910 | +12.0% |
| Financial income | 75/76B | €39 | €6 | -€33 | -85.3% |
| Recurring financial income | 75 | €39 | €6 | -€33 | -85.3% |
| Financial charges | 65/66B | €25,802 | €16,327 | -€9,475 | -36.7% |
| Recurring financial charges | 65 | €25,802 | €16,327 | -€9,475 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €182,602 | €216,953 | +€34,351 | +18.8% |
| Income taxes | 67/77 | €29,753 | €67,046 | +€37,293 | +125% |
| Profit (loss) for the period | 9904 | €152,849 | €149,907 | -€2,942 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €152,849 | €149,907 | -€2,942 | -1.9% |
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 20 October 2026 via checked.be.