REC XV: 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 XV
Largest movements
- Cash +€16
up €16 (+16.9%), from €94 to €110
mainly Trade debts (+€9,791) and Other debts (+€2,356)
- Profit (loss) carried forward -€12,133
down €12,133 (-13.0%), from -€93,044 to -€105,178
- Trade debts +€9,791
new in 2023: €9,791
- Other debts +€2,356
up €2,356 (+7.6%), from €31,075 to €33,431
- Accrued charges and deferred income +€2
up €2 (+3.5%), from €63 to €66
- Gross operating margin -€4,713
down €4,713 (-98.8%), from -€4,772 to -€9,485
- Depreciation -€221
no longer reported in 2023 (was €221)
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94 | €110 | +€16 | +16.9% |
| Current assets | 29/58 | €94 | €110 | +€16 | +16.9% |
| Cash at bank and in hand | 54/58 | €94 | €110 | +€16 | +16.9% |
| Total equity and liabilities | 10/49 | €94 | €110 | +€16 | +16.9% |
| Equity | 10/15 | -€31,044 | -€43,178 | -€12,133 | -39.1% |
| 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% |
| Profit (loss) carried forward | 14 | -€93,044 | -€105,178 | -€12,133 | -13.0% |
| Amounts payable | 17/49 | €31,138 | €43,287 | +€12,149 | +39.0% |
| Amounts payable within one year | 42/48 | €31,075 | €43,222 | +€12,147 | +39.1% |
| Trade debts | 44 | - | €9,791 | +€9,791 | |
| Suppliers | 440/4 | - | €9,791 | +€9,791 | |
| Other amounts payable | 47/48 | €31,075 | €33,431 | +€2,356 | +7.6% |
| Accrued charges and deferred income | 492/3 | €63 | €66 | +€2 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221 | - | -€221 | |
| Other operating charges | 640/8 | €450 | €502 | +€53 | +11.8% |
| Gross operating margin | 9900 | -€4,772 | -€9,485 | -€4,713 | -98.8% |
| Operating profit (loss) | 9901 | -€5,443 | -€9,988 | -€4,545 | -83.5% |
| Financial charges | 65/66B | €2,126 | €2,146 | +€20 | +0.9% |
| Recurring financial charges | 65 | €2,126 | €2,146 | +€20 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,568 | -€12,133 | -€4,565 | -60.3% |
| Profit (loss) for the period | 9904 | -€7,568 | -€12,133 | -€4,565 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,568 | -€12,133 | -€4,565 | -60.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.