REC: 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.
REC
Largest movements
- Receivables within one year -€802
down €802 (-15.4%), from €5,205 to €4,403
of which Trade receivables: -€1,516
- Debts after one year +€41,337
new in 2025: €41,337
- Other debts -€37,640
down €37,640 (-93.5%), from €40,245 to €2,605
- Trade debts -€6,301
down €6,301 (-65.3%), from €9,651 to €3,350
- Advances received +€4,050
new in 2025: €4,050
- Profit (loss) carried forward -€2,239
down €2,239 (-5.2%), from -€43,315 to -€45,554
- Gross operating margin +€6,962
up €6,962 (+83.6%), from -€8,325 to -€1,364
- Other operating charges +€830
new in 2025: €830
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 | €12,781 | €11,986 | -€795 | -6.2% |
| Fixed assets | 21/28 | €370 | €370 | = | 0.0% |
| Financial fixed assets | 28 | €370 | €370 | = | 0.0% |
| Current assets | 29/58 | €12,411 | €11,616 | -€795 | -6.4% |
| Stocks and contracts in progress | 3 | €7,000 | €7,000 | = | 0.0% |
| Stocks | 30/36 | €7,000 | €7,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,205 | €4,403 | -€802 | -15.4% |
| Trade receivables | 40 | €4,916 | €3,400 | -€1,516 | -30.8% |
| Other amounts receivable | 41 | €290 | €1,003 | +€714 | +246.5% |
| Cash at bank and in hand | 54/58 | €206 | €213 | +€8 | +3.7% |
| Total equity and liabilities | 10/49 | €12,781 | €11,986 | -€795 | -6.2% |
| Equity | 10/15 | -€37,115 | -€39,354 | -€2,239 | -6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,315 | -€45,554 | -€2,239 | -5.2% |
| Amounts payable | 17/49 | €49,896 | €51,341 | +€1,444 | +2.9% |
| Amounts payable after more than one year | 17 | - | €41,337 | +€41,337 | |
| Other amounts payable | 178/9 | - | €41,337 | +€41,337 | |
| Amounts payable within one year | 42/48 | €49,896 | €10,004 | -€39,892 | -80.0% |
| Trade debts | 44 | €9,651 | €3,350 | -€6,301 | -65.3% |
| Suppliers | 440/4 | €9,651 | €3,350 | -€6,301 | -65.3% |
| Advances received on contracts in progress | 46 | - | €4,050 | +€4,050 | |
| Other amounts payable | 47/48 | €40,245 | €2,605 | -€37,640 | -93.5% |
| Other operating charges | 640/8 | - | €830 | +€830 | |
| Gross operating margin | 9900 | -€8,325 | -€1,364 | +€6,962 | +83.6% |
| Operating profit (loss) | 9901 | -€8,325 | -€2,194 | +€6,131 | +73.6% |
| Financial charges | 65/66B | €124 | €45 | -€79 | -63.7% |
| Recurring financial charges | 65 | €124 | €45 | -€79 | -63.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,449 | -€2,239 | +€6,210 | +73.5% |
| Profit (loss) for the period | 9904 | -€8,449 | -€2,239 | +€6,210 | +73.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,449 | -€2,239 | +€6,210 | +73.5% |
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 9 October 2026 via checked.be.