REBUCO: 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.
REBUCO
Largest movements
- Current investments -€2.1m
down €2.1m (-80.8%), from €2.6m to €500,000
- Cash +€2.1m
up €2.1m (+672.2%), from €305,918 to €2.4m
mainly Current investments (+€2.1m) and Net result for the year (+€949,388)
- Receivables within one year +€1.6m
up €1.6m (+67.7%), from €2.3m to €3.9m
of which Other amounts receivable: +€1.4m
- Financial fixed assets -€950,000
down €950,000 (-96.8%), from €980,957 to €30,957
- Tangible fixed assets +€172,784
up €172,784 (+85.6%), from €201,878 to €374,661
of which Land and buildings: +€165,827
- Profit (loss) carried forward +€738,888
up €738,888 (+14.7%), from €5.0m to €5.8m
- Trade debts -€280,568
down €280,568 (-33.9%), from €828,309 to €547,741
- Reserves +€210,500
up €210,500 (+68.7%), from €306,200 to €516,700
of which Tax-exempt reserves: +€210,500
- Tax, wage and social debts +€106,439
up €106,439 (+56.1%), from €189,829 to €296,267
of which Taxes: +€90,343
- Financial income +€401,439
up €401,439 (+2353.9%), from €17,054 to €418,493
of which Non-recurring financial income: +€300,599
- Taxes +€47,423
up €47,423 (+26.6%), from €177,963 to €225,386
- Gross operating margin +€35,033
up €35,033 (+3.0%), from €1.2m to €1.2m
- Staff costs -€22,844
down €22,844 (-5.5%), from €413,516 to €390,671
- Depreciation -€20,155
down €20,155 (-37.4%), from €53,832 to €33,677
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 | €6,414,120 | €7,189,379 | +€775,259 | +12.1% |
| Fixed assets | 21/28 | €1,182,835 | €405,619 | -€777,216 | -65.7% |
| Tangible fixed assets | 22/27 | €201,878 | €374,661 | +€172,784 | +85.6% |
| Land and buildings | 22 | €176,013 | €341,840 | +€165,827 | +94.2% |
| Plant, machinery and equipment | 23 | €3,862 | €10,150 | +€6,287 | +162.8% |
| Furniture and vehicles | 24 | €22,002 | €22,672 | +€670 | +3.0% |
| Financial fixed assets | 28 | €980,957 | €30,957 | -€950,000 | -96.8% |
| Current assets | 29/58 | €5,231,286 | €6,783,761 | +€1.6m | +29.7% |
| Amounts receivable within one year | 40/41 | €2,315,005 | €3,882,341 | +€1.6m | +67.7% |
| Trade receivables | 40 | €1,076,827 | €1,285,102 | +€208,276 | +19.3% |
| Other amounts receivable | 41 | €1,238,179 | €2,597,238 | +€1.4m | +109.8% |
| Current investments | 50/53 | €2,600,000 | €500,000 | -€2.1m | -80.8% |
| Cash at bank and in hand | 54/58 | €305,918 | €2,362,271 | +€2.1m | +672.2% |
| Deferred charges and accrued income | 490/1 | €10,363 | €39,149 | +€28,786 | +277.8% |
| Total equity and liabilities | 10/49 | €6,414,120 | €7,189,379 | +€775,259 | +12.1% |
| Equity | 10/15 | €5,387,697 | €6,337,085 | +€949,388 | +17.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €306,200 | €516,700 | +€210,500 | +68.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €210,500 | +€210,500 | |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,019,497 | €5,758,385 | +€738,888 | +14.7% |
| Amounts payable | 17/49 | €1,026,424 | €852,295 | -€174,129 | -17.0% |
| Amounts payable within one year | 42/48 | €1,018,138 | €852,295 | -€165,843 | -16.3% |
| Trade debts | 44 | €828,309 | €547,741 | -€280,568 | -33.9% |
| Suppliers | 440/4 | €828,309 | €547,741 | -€280,568 | -33.9% |
| Taxes, remuneration and social security | 45 | €189,829 | €296,267 | +€106,439 | +56.1% |
| Taxes | 450/3 | €129,460 | €219,803 | +€90,343 | +69.8% |
| Remuneration and social security | 454/9 | €60,369 | €76,465 | +€16,095 | +26.7% |
| Other amounts payable | 47/48 | - | €8,286 | +€8,286 | |
| Accrued charges and deferred income | 492/3 | €8,286 | €0 | -€8,286 | -100.0% |
| Remuneration, social security and pensions | 62 | €413,516 | €390,671 | -€22,844 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,832 | €33,677 | -€20,155 | -37.4% |
| Other operating charges | 640/8 | €36,762 | €35,840 | -€922 | -2.5% |
| Gross operating margin | 9900 | €1,181,969 | €1,217,002 | +€35,033 | +3.0% |
| Operating profit (loss) | 9901 | €677,860 | €756,814 | +€78,954 | +11.6% |
| Financial income | 75/76B | €17,054 | €418,493 | +€401,439 | +2353.9% |
| Recurring financial income | 75 | €17,054 | €117,894 | +€100,840 | +591.3% |
| Non-recurring financial income | 76B | - | €300,599 | +€300,599 | |
| Financial charges | 65/66B | €642 | €533 | -€109 | -16.9% |
| Recurring financial charges | 65 | €642 | €533 | -€109 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €694,273 | €1,174,774 | +€480,502 | +69.2% |
| Income taxes | 67/77 | €177,963 | €225,386 | +€47,423 | +26.6% |
| Profit (loss) for the period | 9904 | €516,310 | €949,388 | +€433,079 | +83.9% |
| Transfer to tax-exempt reserves | 689 | - | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €516,310 | €738,888 | +€222,579 | +43.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.