RECS: 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.
RECS
Largest movements
- Cash +€141,434
up €141,434 (+48.2%), from €293,396 to €434,829
mainly Net result for the year (+€136,702) and Receivables within one year (+€107,508)
- Receivables within one year -€107,508
down €107,508 (-76.5%), from €140,466 to €32,958
of which Other amounts receivable: -€102,608
- Deferred charges and accrued income -€18,584
down €18,584 (-76.1%), from €24,408 to €5,824
- Tangible fixed assets -€10,866
down €10,866 (-21.8%), from €49,918 to €39,052
of which Furniture and vehicles: -€8,951
- Profit (loss) carried forward -€78,648
down €78,648 (-59.3%), from €132,725 to €54,077
- Reserves +€54,100
up €54,100 (+15.1%), from €357,200 to €411,300
of which Distributable reserves: +€54,100
- Tax, wage and social debts +€27,818
up €27,818 (+497.5%), from €5,591 to €33,409
of which Taxes: +€27,802
- Gross operating margin +€121,939
up €121,939 (+101.2%), from €120,523 to €242,463
- Taxes +€42,911
up €42,911 (+244.5%), from €17,551 to €60,462
- Staff costs -€14,330
down €14,330 (-29.4%), from €48,784 to €34,453
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 | €509,287 | €513,764 | +€4,476 | +0.9% |
| Fixed assets | 21/28 | €51,018 | €40,152 | -€10,866 | -21.3% |
| Tangible fixed assets | 22/27 | €49,918 | €39,052 | -€10,866 | -21.8% |
| Land and buildings | 22 | €1,080 | €8,710 | +€7,630 | +706.4% |
| Plant, machinery and equipment | 23 | €7,900 | - | -€7,900 | |
| Furniture and vehicles | 24 | €37,450 | €28,499 | -€8,951 | -23.9% |
| Leasing and similar rights | 25 | €3,488 | €1,843 | -€1,645 | -47.2% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €458,269 | €473,612 | +€15,342 | +3.3% |
| Amounts receivable within one year | 40/41 | €140,466 | €32,958 | -€107,508 | -76.5% |
| Trade receivables | 40 | €4,900 | - | -€4,900 | |
| Other amounts receivable | 41 | €135,565 | €32,958 | -€102,608 | -75.7% |
| Cash at bank and in hand | 54/58 | €293,396 | €434,829 | +€141,434 | +48.2% |
| Deferred charges and accrued income | 490/1 | €24,408 | €5,824 | -€18,584 | -76.1% |
| Total equity and liabilities | 10/49 | €509,287 | €513,764 | +€4,476 | +0.9% |
| Equity | 10/15 | €496,530 | €471,982 | -€24,548 | -4.9% |
| Contributions | 10/11 | €6,605 | €6,605 | = | 0.0% |
| Reserves | 13 | €357,200 | €411,300 | +€54,100 | +15.1% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €355,300 | €409,400 | +€54,100 | +15.2% |
| Profit (loss) carried forward | 14 | €132,725 | €54,077 | -€78,648 | -59.3% |
| Amounts payable | 17/49 | €12,757 | €41,782 | +€29,025 | +227.5% |
| Amounts payable after more than one year | 17 | €2,153 | €317 | -€1,836 | -85.3% |
| Financial debts | 170/4 | €2,153 | €317 | -€1,836 | -85.3% |
| Amounts payable within one year | 42/48 | €10,604 | €41,465 | +€30,860 | +291.0% |
| Current portion of amounts payable after more than one year | 42 | €1,725 | €1,836 | +€111 | +6.4% |
| Trade debts | 44 | €3,288 | €3,850 | +€561 | +17.1% |
| Suppliers | 440/4 | €3,288 | €3,850 | +€561 | +17.1% |
| Taxes, remuneration and social security | 45 | €5,591 | €33,409 | +€27,818 | +497.5% |
| Taxes | 450/3 | €1,037 | €28,839 | +€27,802 | +2679.8% |
| Remuneration and social security | 454/9 | €4,554 | €4,570 | +€16 | +0.4% |
| Other amounts payable | 47/48 | - | €2,371 | +€2,371 | |
| Remuneration, social security and pensions | 62 | €48,784 | €34,453 | -€14,330 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,602 | €10,866 | +€2,264 | +26.3% |
| Other operating charges | 640/8 | €3,125 | €1,320 | -€1,805 | -57.8% |
| Gross operating margin | 9900 | €120,523 | €242,463 | +€121,939 | +101.2% |
| Operating profit (loss) | 9901 | €60,013 | €195,823 | +€135,811 | +226.3% |
| Financial income | 75/76B | €1,294 | €2,549 | +€1,256 | +97.0% |
| Recurring financial income | 75 | €1,294 | €2,549 | +€1,256 | +97.0% |
| Financial charges | 65/66B | €951 | €1,209 | +€258 | +27.2% |
| Recurring financial charges | 65 | €951 | €1,209 | +€258 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €60,355 | €197,163 | +€136,808 | +226.7% |
| Income taxes | 67/77 | €17,551 | €60,462 | +€42,911 | +244.5% |
| Profit (loss) for the period | 9904 | €42,804 | €136,702 | +€93,897 | +219.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,804 | €136,702 | +€93,897 | +219.4% |
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 12 October 2026 via checked.be.