REBA: what changed
REBA
Largest movements
- Tangible fixed assets -€26,509
down €26,509 (-14.2%), from €186,754 to €160,245
of which Land and buildings: -€13,388
- Cash -€25,945
down €25,945 (-76.9%), from €33,747 to €7,801
- Formation expenses +€23,520
new in 2025: €23,520
- Debts after one year -€35,312
down €35,312 (-26.5%), from €133,434 to €98,122
- Current portion of long-term debt -€23,900
down €23,900 (-57.0%), from €41,900 to €18,000
- Trade debts -€21,062
down €21,062 (-46.1%), from €45,685 to €24,623
- Reserves +€20,000
up €20,000 (+10.7%), from €186,860 to €206,860
of which Distributable reserves: +€20,000
- Profit (loss) carried forward +€15,279
up €15,279 (+27.1%), from €56,415 to €71,694
- Gross operating margin -€38,310
down €38,310 (-17.0%), from €224,838 to €186,528
- Taxes -€19,605
down €19,605 (-71.0%), from €27,605 to €8,000
- Depreciation -€6,810
down €6,810 (-33.8%), from €20,151 to €13,340
- Financial charges -€3,593
down €3,593 (-28.3%), from €12,703 to €9,110
- Other operating charges -€2,417
down €2,417 (-11.3%), from €21,303 to €18,886
Change in the result, 2023 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €474,541 | €452,705 | -€21,835 | -4.6% |
| Formation expenses | 20 | - | €23,520 | +€23,520 | |
| Fixed assets | 21/28 | €189,984 | €160,245 | -€29,739 | -15.7% |
| Tangible fixed assets | 22/27 | €186,754 | €160,245 | -€26,509 | -14.2% |
| Land and buildings | 22 | €171,182 | €157,794 | -€13,388 | -7.8% |
| Plant, machinery and equipment | 23 | €9,088 | €1,416 | -€7,672 | -84.4% |
| Furniture and vehicles | 24 | €6,485 | €1,035 | -€5,450 | -84.0% |
| Financial fixed assets | 28 | €3,229 | - | -€3,229 | |
| Current assets | 29/58 | €284,557 | €268,940 | -€15,617 | -5.5% |
| Amounts receivable after more than one year | 29 | €450 | €3,679 | +€3,229 | +718% |
| Trade receivables | 290 | €450 | €3,679 | +€3,229 | +718% |
| Stocks and contracts in progress | 3 | €12,577 | €13,185 | +€608 | +4.8% |
| Stocks | 30/36 | €12,577 | €13,185 | +€608 | +4.8% |
| Amounts receivable within one year | 40/41 | €231,129 | €235,401 | +€4,273 | +1.8% |
| Trade receivables | 40 | €190,203 | €182,933 | -€7,270 | -3.8% |
| Other amounts receivable | 41 | €40,925 | €52,468 | +€11,543 | +28.2% |
| Cash at bank and in hand | 54/58 | €33,747 | €7,801 | -€25,945 | -76.9% |
| Deferred charges and accrued income | 490/1 | €6,655 | €8,873 | +€2,219 | +33.3% |
| Total equity and liabilities | 10/49 | €474,541 | €452,705 | -€21,835 | -4.6% |
| Equity | 10/15 | €249,485 | €284,764 | +€35,279 | +14.1% |
| Contributions | 10/11 | €6,210 | €6,210 | = | 0.0% |
| Reserves | 13 | €186,860 | €206,860 | +€20,000 | +10.7% |
| 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 | €185,000 | €205,000 | +€20,000 | +10.8% |
| Profit (loss) carried forward | 14 | €56,415 | €71,694 | +€15,279 | +27.1% |
| Amounts payable | 17/49 | €225,055 | €167,941 | -€57,114 | -25.4% |
| Amounts payable after more than one year | 17 | €133,434 | €98,122 | -€35,312 | -26.5% |
| Financial debts | 170/4 | €133,434 | €98,122 | -€35,312 | -26.5% |
| Amounts payable within one year | 42/48 | €91,621 | €69,819 | -€21,802 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €41,900 | €18,000 | -€23,900 | -57.0% |
| Trade debts | 44 | €45,685 | €24,623 | -€21,062 | -46.1% |
| Suppliers | 440/4 | €45,685 | €24,623 | -€21,062 | -46.1% |
| Taxes, remuneration and social security | 45 | €4,036 | €12,946 | +€8,910 | +221% |
| Taxes | 450/3 | €2,500 | €3,960 | +€1,460 | +58.4% |
| Remuneration and social security | 454/9 | €1,536 | €8,986 | +€7,450 | +485% |
| Other amounts payable | 47/48 | - | €14,250 | +€14,250 | |
| Remuneration, social security and pensions | 62 | €119,469 | €117,776 | -€1,693 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,151 | €13,340 | -€6,810 | -33.8% |
| Other operating charges | 640/8 | €21,303 | €18,886 | -€2,417 | -11.3% |
| Gross operating margin | 9900 | €224,838 | €186,528 | -€38,310 | -17.0% |
| Operating profit (loss) | 9901 | €63,915 | €36,525 | -€27,390 | -42.9% |
| Financial income | 75/76B | €1,941 | €1,510 | -€431 | -22.2% |
| Recurring financial income | 75 | €1,941 | €1,510 | -€431 | -22.2% |
| Financial charges | 65/66B | €12,703 | €9,110 | -€3,593 | -28.3% |
| Recurring financial charges | 65 | €12,703 | €9,110 | -€3,593 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €53,153 | €28,924 | -€24,229 | -45.6% |
| Income taxes | 67/77 | €27,605 | €8,000 | -€19,605 | -71.0% |
| Profit (loss) for the period | 9904 | €25,548 | €20,924 | -€4,624 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,548 | €20,924 | -€4,624 | -18.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.