Rebus: what changed
Two fiscal 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.
Rebus
Largest movements
- Stocks and contracts -€754,953
down €754,953 (-99.7%), from €756,953 to €2,000
of which Contracts in progress: -€754,953
- Cash +€500,834
up €500,834 (+6195.6%), from €8,084 to €508,918
mainly Stocks and contracts (+€754,953) and Net result for the year (+€382,194)
- Current investments +€500,000
new in 2025: €500,000
- Profit (loss) carried forward +€332,194
up €332,194 (+249.8%), from €132,981 to €465,176
- Trade debts -€249,281
down €249,281 (-65.2%), from €382,561 to €133,280
- Other debts +€156,458
up €156,458 (+58.0%), from €269,970 to €426,428
- Gross operating margin +€512,604
up €512,604, from -€50 to €512,555
- Taxes +€108,816
new in 2025: €108,816
- Financial charges +€17,068
up €17,068 (+341.3%), from €5,001 to €22,068
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 | €792,877 | €1,036,598 | +€243,721 | +30.7% |
| Fixed assets | 21/28 | €2,624 | €1,680 | -€944 | -36.0% |
| Tangible fixed assets | 22/27 | €2,624 | €1,680 | -€944 | -36.0% |
| Plant, machinery and equipment | 23 | €2,624 | €1,680 | -€944 | -36.0% |
| Current assets | 29/58 | €790,253 | €1,034,918 | +€244,665 | +31.0% |
| Stocks and contracts in progress | 3 | €756,953 | €2,000 | -€754,953 | -99.7% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Contracts in progress | 37 | €754,953 | - | -€754,953 | |
| Amounts receivable within one year | 40/41 | €25,216 | €23,438 | -€1,778 | -7.1% |
| Trade receivables | 40 | €6,627 | €7,197 | +€570 | +8.6% |
| Other amounts receivable | 41 | €18,589 | €16,241 | -€2,348 | -12.6% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €8,084 | €508,918 | +€500,834 | +6195.6% |
| Deferred charges and accrued income | 490/1 | - | €563 | +€563 | |
| Total equity and liabilities | 10/49 | €792,877 | €1,036,598 | +€243,721 | +30.7% |
| Equity | 10/15 | €134,981 | €467,176 | +€332,194 | +246.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,981 | €465,176 | +€332,194 | +249.8% |
| Amounts payable | 17/49 | €657,896 | €569,423 | -€88,473 | -13.4% |
| Amounts payable within one year | 42/48 | €655,146 | €562,323 | -€92,823 | -14.2% |
| Trade debts | 44 | €382,561 | €133,280 | -€249,281 | -65.2% |
| Suppliers | 440/4 | €382,561 | €133,280 | -€249,281 | -65.2% |
| Taxes, remuneration and social security | 45 | €2,615 | €2,615 | = | 0.0% |
| Taxes | 450/3 | €2,615 | €2,615 | = | 0.0% |
| Other amounts payable | 47/48 | €269,970 | €426,428 | +€156,458 | +58.0% |
| Accrued charges and deferred income | 492/3 | €2,750 | €7,100 | +€4,350 | +158.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €944 | €944 | = | 0.0% |
| Other operating charges | 640/8 | €862 | €413 | -€450 | -52.1% |
| Gross operating margin | 9900 | -€50 | €512,555 | +€512,604 | |
| Operating profit (loss) | 9901 | -€1,856 | €511,198 | +€513,054 | |
| Financial income | 75/76B | €2,741 | €1,881 | -€861 | -31.4% |
| Recurring financial income | 75 | €2,741 | €1,881 | -€861 | -31.4% |
| Financial charges | 65/66B | €5,001 | €22,068 | +€17,068 | +341.3% |
| Recurring financial charges | 65 | €5,001 | €22,068 | +€17,068 | +341.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,115 | €491,011 | +€495,126 | |
| Income taxes | 67/77 | - | €108,816 | +€108,816 | |
| Profit (loss) for the period | 9904 | -€4,115 | €382,194 | +€386,310 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,115 | €382,194 | +€386,310 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.