REC XVI: 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 XVI
Largest movements
- Cash +€15,031
up €15,031 (+70.5%), from €21,308 to €36,339
mainly Other debts (+€83,527)
- Other debts +€83,527
up €83,527 (+5.1%), from €1.6m to €1.7m
- Profit (loss) carried forward -€68,495
down €68,495 (-4.1%), from -€1.7m to -€1.8m
- Financial charges +€3,947
up €3,947 (+4.9%), from €79,759 to €83,707
- Gross operating margin +€529
up €529 (+3.5%), from €15,202 to €15,731
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,308 | €36,339 | +€15,031 | +70.5% |
| Current assets | 29/58 | €21,308 | €36,339 | +€15,031 | +70.5% |
| Cash at bank and in hand | 54/58 | €21,308 | €36,339 | +€15,031 | +70.5% |
| Total equity and liabilities | 10/49 | €21,308 | €36,339 | +€15,031 | +70.5% |
| Equity | 10/15 | -€1,618,225 | -€1,686,720 | -€68,495 | -4.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,085 | €2,085 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,085 | €2,085 | = | 0.0% |
| Legal reserve | 130 | €2,085 | €2,085 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,681,810 | -€1,750,305 | -€68,495 | -4.1% |
| Amounts payable | 17/49 | €1,639,533 | €1,723,059 | +€83,527 | +5.1% |
| Amounts payable within one year | 42/48 | €1,639,533 | €1,723,059 | +€83,527 | +5.1% |
| Other amounts payable | 47/48 | €1,639,533 | €1,723,059 | +€83,527 | +5.1% |
| Non-recurring operating income | 76A | €20,757 | €21,455 | +€698 | +3.4% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €15,202 | €15,731 | +€529 | +3.5% |
| Operating profit (loss) | 9901 | €14,697 | €15,211 | +€515 | +3.5% |
| Financial charges | 65/66B | €79,759 | €83,707 | +€3,947 | +4.9% |
| Recurring financial charges | 65 | €79,759 | €83,707 | +€3,947 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | -€65,063 | -€68,495 | -€3,432 | -5.3% |
| Profit (loss) for the period | 9904 | -€65,063 | -€68,495 | -€3,432 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,063 | -€68,495 | -€3,432 | -5.3% |
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 19 October 2026 via checked.be.