& REBELS: 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.
& REBELS
Largest movements
- Tangible fixed assets -€28,396
down €28,396 (-95.1%), from €29,861 to €1,464
- Receivables within one year -€2,154
down €2,154 (-21.7%), from €9,944 to €7,790
of which Other amounts receivable: -€8,577
- Intangible fixed assets -€1,500
down €1,500 (-10.8%), from €13,944 to €12,444
- Deferred charges and accrued income +€983
up €983 (+795%), from €124 to €1,107
- Other debts -€37,590
down €37,590 (-83.0%), from €45,276 to €7,686
- Profit (loss) carried forward +€4,846
up €4,846 (+228%), from €2,129 to €6,975
- Tax, wage and social debts +€1,810
up €1,810, from €0 to €1,810
- Current portion of long-term debt -€890
down €890 (-100%), from €890 to €0
- Trade debts +€770
up €770 (+3,317%), from €23 to €793
- Gross operating margin -€7,504
down €7,504 (-42.6%), from €17,601 to €10,097
- Depreciation -€3,571
down €3,571 (-67.7%), from €5,277 to €1,706
- Taxes -€896
down €896 (-30.2%), from €2,971 to €2,075
- Other operating charges +€458
up €458 (+56.9%), from €804 to €1,262
- Financial charges -€283
down €283 (-54.9%), from €515 to €233
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,819 | €23,944 | -€30,875 | -56.3% |
| Fixed assets | 21/28 | €43,804 | €13,908 | -€29,896 | -68.2% |
| Intangible fixed assets | 21 | €13,944 | €12,444 | -€1,500 | -10.8% |
| Tangible fixed assets | 22/27 | €29,861 | €1,464 | -€28,396 | -95.1% |
| Furniture and vehicles | 24 | €29,861 | €1,464 | -€28,396 | -95.1% |
| Current assets | 29/58 | €11,014 | €10,035 | -€979 | -8.9% |
| Amounts receivable within one year | 40/41 | €9,944 | €7,790 | -€2,154 | -21.7% |
| Trade receivables | 40 | €1,367 | €7,790 | +€6,423 | +470% |
| Other amounts receivable | 41 | €8,577 | €0 | -€8,577 | -100% |
| Current investments | 50/53 | €211 | €0 | -€211 | -100% |
| Cash at bank and in hand | 54/58 | €736 | €1,139 | +€403 | +54.8% |
| Deferred charges and accrued income | 490/1 | €124 | €1,107 | +€983 | +795% |
| Total equity and liabilities | 10/49 | €54,819 | €23,944 | -€30,875 | -56.3% |
| Equity | 10/15 | €8,629 | €13,475 | +€4,846 | +56.2% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,129 | €6,975 | +€4,846 | +228% |
| Amounts payable | 17/49 | €46,190 | €10,469 | -€35,721 | -77.3% |
| Amounts payable within one year | 42/48 | €46,190 | €10,469 | -€35,721 | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €890 | €0 | -€890 | -100% |
| Financial debts | 43 | - | €180 | +€180 | |
| Credit institutions | 430/8 | - | €180 | +€180 | |
| Trade debts | 44 | €23 | €793 | +€770 | +3,317% |
| Suppliers | 440/4 | €23 | €793 | +€770 | +3,317% |
| Taxes, remuneration and social security | 45 | €0 | €1,810 | +€1,810 | |
| Taxes | 450/3 | €0 | €1,810 | +€1,810 | |
| Other amounts payable | 47/48 | €45,276 | €7,686 | -€37,590 | -83.0% |
| Non-recurring operating income | 76A | - | €1,687 | +€1,687 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,277 | €1,706 | -€3,571 | -67.7% |
| Other operating charges | 640/8 | €804 | €1,262 | +€458 | +56.9% |
| Gross operating margin | 9900 | €17,601 | €10,097 | -€7,504 | -42.6% |
| Operating profit (loss) | 9901 | €11,519 | €7,129 | -€4,390 | -38.1% |
| Financial income | 75/76B | €14 | €25 | +€11 | +83.1% |
| Recurring financial income | 75 | €14 | €25 | +€11 | +83.1% |
| Financial charges | 65/66B | €515 | €233 | -€283 | -54.9% |
| Recurring financial charges | 65 | €515 | €233 | -€283 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | €11,017 | €6,921 | -€4,096 | -37.2% |
| Income taxes | 67/77 | €2,971 | €2,075 | -€896 | -30.2% |
| Profit (loss) for the period | 9904 | €8,046 | €4,846 | -€3,200 | -39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,046 | €4,846 | -€3,200 | -39.8% |
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 17 October 2026 via checked.be.