REBO: 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.
What changed
REBO
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,840
2024 · -€1,700+€7,540
Equity
€1.6m
2024 · €1.6m-€5,236
Cash
€34,824
2024 · €2,300+€32,524
Balance sheet total
€2.2m
2024 · €2.2m-€11,890
Largest movements
Assets
- Cash +€32,524
up €32,524 (+1,414%), from €2,300 to €34,824
mainly Depreciation (+€51,491) and Other debts (+€23,101)
Equity and liabilities
- Debts after one year -€38,565
down €38,565 (-86.0%), from €44,827 to €6,262
- Other debts +€23,101
up €23,101 (+5.4%), from €425,016 to €448,116
Income statement
- Gross operating margin +€9,196
up €9,196 (+10.3%), from €89,558 to €98,754
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.
Result 2024
-€1,700
Gross operating margin
+€9,196
Depreciation
-€50
Other operating charges
-€690
Financial income
-€698
Financial charges
-€287
Taxes
+€69
Result 2025
€5,840
raises the resultlowers the result
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.
From operations
+€125,921
Investment
-€30,151
Financing
-€63,246
Cash 2024
€2,300
From operations (derived)
+€125,921
Net result for the year
+€5,840
Depreciation
+€51,491
Receivables within one year
+€21,049
Deferred charges and accrued income
+€2,025
Provisions
-€5,703
Trade debts
+€18,856
Tax, wage and social debts
+€10,069
Advances received
-€90
Other debts
+€23,101
Accrued charges and deferred income
-€717
Investment (derived)
-€30,151
Investment in fixed assets (net)
-€30,151
Financing
-€63,246
Debts after one year
-€38,565
Current portion of long-term debt
-€13,604
Contributions, distributions and other
-€11,076
Cash 2025
€34,824
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,224,492 | €2,212,601 | -€11,890 | -0.5% |
| Fixed assets | 21/28 | €2,181,387 | €2,160,047 | -€21,340 | -1.0% |
| Tangible fixed assets | 22/27 | €2,180,087 | €2,158,747 | -€21,340 | -1.0% |
| Land and buildings | 22 | €1,756,202 | €1,718,933 | -€37,268 | -2.1% |
| Plant, machinery and equipment | 23 | €1,430 | €30,751 | +€29,320 | +2,050% |
| Furniture and vehicles | 24 | €26,455 | €13,062 | -€13,393 | -50.6% |
| Leasing and similar rights | 25 | €396,000 | €396,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €43,105 | €52,555 | +€9,450 | +21.9% |
| Amounts receivable within one year | 40/41 | €33,005 | €11,956 | -€21,049 | -63.8% |
| Trade receivables | 40 | €33,005 | €2,111 | -€30,894 | -93.6% |
| Other amounts receivable | 41 | - | €9,845 | +€9,845 | |
| Cash at bank and in hand | 54/58 | €2,300 | €34,824 | +€32,524 | +1,414% |
| Deferred charges and accrued income | 490/1 | €7,800 | €5,775 | -€2,025 | -26.0% |
| Total equity and liabilities | 10/49 | €2,224,492 | €2,212,601 | -€11,890 | -0.5% |
| Equity | 10/15 | €1,560,541 | €1,555,305 | -€5,236 | -0.3% |
| Contributions | 10/11 | €684,000 | €684,000 | = | 0.0% |
| Reserves | 13 | €893,448 | €882,371 | -€11,076 | -1.2% |
| Tax-exempt reserves | 132 | €232,740 | €221,663 | -€11,076 | -4.8% |
| Distributable reserves | 133 | €660,708 | €660,708 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,906 | -€11,066 | +€5,840 | +34.5% |
| Provisions and deferred taxes | 16 | €101,141 | €95,437 | -€5,703 | -5.6% |
| Deferred taxes | 168 | €101,141 | €95,437 | -€5,703 | -5.6% |
| Amounts payable | 17/49 | €562,810 | €561,859 | -€951 | -0.2% |
| Amounts payable after more than one year | 17 | €44,827 | €6,262 | -€38,565 | -86.0% |
| Financial debts | 170/4 | €44,827 | €6,262 | -€38,565 | -86.0% |
| Amounts payable within one year | 42/48 | €487,392 | €525,723 | +€38,331 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €52,169 | €38,565 | -€13,604 | -26.1% |
| Trade debts | 44 | €3,185 | €22,040 | +€18,856 | +592% |
| Suppliers | 440/4 | €3,185 | €22,040 | +€18,856 | +592% |
| Advances received on contracts in progress | 46 | €90 | - | -€90 | |
| Taxes, remuneration and social security | 45 | €6,933 | €17,002 | +€10,069 | +145% |
| Taxes | 450/3 | €6,933 | €17,002 | +€10,069 | +145% |
| Other amounts payable | 47/48 | €425,016 | €448,116 | +€23,101 | +5.4% |
| Accrued charges and deferred income | 492/3 | €30,591 | €29,874 | -€717 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,442 | €51,491 | +€50 | +0.1% |
| Other operating charges | 640/8 | €23,787 | €24,477 | +€690 | +2.9% |
| Gross operating margin | 9900 | €89,558 | €98,754 | +€9,196 | +10.3% |
| Operating profit (loss) | 9901 | €14,329 | €22,786 | +€8,456 | +59.0% |
| Financial income | 75/76B | €698 | - | -€698 | |
| Recurring financial income | 75 | €698 | - | -€698 | |
| Financial charges | 65/66B | €33,283 | €33,570 | +€287 | +0.9% |
| Recurring financial charges | 65 | €33,283 | €33,570 | +€287 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,256 | -€10,785 | +€7,471 | +40.9% |
| Transfer from deferred taxes | 780 | €16,780 | €16,780 | = | 0.0% |
| Income taxes | 67/77 | €224 | €155 | -€69 | -30.7% |
| Profit (loss) for the period | 9904 | -€1,700 | €5,840 | +€7,540 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,700 | €5,840 | +€7,540 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.