RECARNATION: 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.
RECARNATION
Largest movements
- Cash +€48,421
up €48,421 (+148%), from €32,654 to €81,075
mainly Net result for the year (+€35,283) and Other debts (+€17,451)
- Receivables within one year +€4,782
up €4,782 (+34.8%), from €13,740 to €18,522
of which Trade receivables: +€4,158
- Reserves +€32,342
up €32,342 (+195%), from €16,614 to €48,956
- Other debts +€17,451
up €17,451 (+324%), from €5,388 to €22,838
- Tax, wage and social debts +€13,230
up €13,230 (+316%), from €4,190 to €17,421
- Short-term financial debts -€8,861
down €8,861 (-99.4%), from €8,915 to €54
- Trade debts -€1,901
no longer reported in 2025 (was €1,901)
- Gross operating margin +€33,453
up €33,453 (+193%), from €17,377 to €50,831
- Taxes +€7,597
up €7,597 (+114%), from €6,657 to €14,255
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 | €49,408 | €101,669 | +€52,260 | +106% |
| Fixed assets | 21/28 | €3,015 | €2,072 | -€943 | -31.3% |
| Tangible fixed assets | 22/27 | €3,015 | €2,072 | -€943 | -31.3% |
| Plant, machinery and equipment | 23 | €1,404 | €822 | -€582 | -41.5% |
| Furniture and vehicles | 24 | €1,611 | €1,250 | -€361 | -22.4% |
| Current assets | 29/58 | €46,393 | €99,597 | +€53,204 | +115% |
| Amounts receivable within one year | 40/41 | €13,740 | €18,522 | +€4,782 | +34.8% |
| Trade receivables | 40 | €13,740 | €17,898 | +€4,158 | +30.3% |
| Other amounts receivable | 41 | - | €624 | +€624 | |
| Cash at bank and in hand | 54/58 | €32,654 | €81,075 | +€48,421 | +148% |
| Total equity and liabilities | 10/49 | €49,408 | €101,669 | +€52,260 | +106% |
| Equity | 10/15 | €29,014 | €61,356 | +€32,342 | +111% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €16,614 | €48,956 | +€32,342 | +195% |
| Distributable reserves | 133 | €16,614 | €48,956 | +€32,342 | +195% |
| Amounts payable | 17/49 | €20,394 | €40,313 | +€19,918 | +97.7% |
| Amounts payable within one year | 42/48 | €20,394 | €40,313 | +€19,918 | +97.7% |
| Financial debts | 43 | €8,915 | €54 | -€8,861 | -99.4% |
| Credit institutions | 430/8 | €8,915 | €54 | -€8,861 | -99.4% |
| Trade debts | 44 | €1,901 | - | -€1,901 | |
| Suppliers | 440/4 | €1,901 | - | -€1,901 | |
| Taxes, remuneration and social security | 45 | €4,190 | €17,421 | +€13,230 | +316% |
| Taxes | 450/3 | €4,190 | €17,421 | +€13,230 | +316% |
| Other amounts payable | 47/48 | €5,388 | €22,838 | +€17,451 | +324% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €776 | €943 | +€167 | +21.5% |
| Gross operating margin | 9900 | €17,377 | €50,831 | +€33,453 | +193% |
| Operating profit (loss) | 9901 | €16,601 | €49,888 | +€33,286 | +201% |
| Financial charges | 65/66B | €217 | €350 | +€133 | +61.4% |
| Recurring financial charges | 65 | €217 | €350 | +€133 | +61.4% |
| Profit (loss) for the period before taxes | 9903 | €16,385 | €49,538 | +€33,153 | +202% |
| Income taxes | 67/77 | €6,657 | €14,255 | +€7,597 | +114% |
| Profit (loss) for the period | 9904 | €9,727 | €35,283 | +€25,556 | +263% |
| Profit (loss) for the period to be appropriated | 9905 | €9,727 | €35,283 | +€25,556 | +263% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.